Microchip Technology Announces Record Financial Results for Second Quarter of Fiscal Year 2023
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RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES |
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| | Three Months Ended September 30, | | Six Months Ended September 30, |
| | | 2022 | | | | 2021 | | | | 2022 | | | | 2021 | |
| Operating expenses, as reported | $ | 642.8 | | | $ | 652.0 | | | $ | 1,251.4 | | | $ | 1,290.8 | |
| Share-based compensation expense | | (34.8 | ) | | | (46.6 | ) | | | (68.3 | ) | | | (94.4 | ) |
| Acquisition-related | | (0.9 | ) | | | (1.2 | ) | | | (1.7 | ) | | | (2.7 | ) |
| Professional services associated with certain legal matters | | (2.3 | ) | | | (1.7 | ) | | | (3.2 | ) | | | (3.8 | ) |
| Amortization of acquired intangible assets | | (167.5 | ) | | | (215.7 | ) | | | (335.1 | ) | | | (431.3 | ) |
| Special charges (income) and other, net | | (4.3 | ) | | | (10.2 | ) | | | 12.6 | | | | (20.7 | ) |
| Non-GAAP operating expenses | $ | 433.0 | | | $ | 376.6 | | | $ | 855.7 | | | $ | 737.9 | |
| Non-GAAP operating expenses as a percentage of net sales | | 20.9 | % | | | 22.8 | % | | | 21.2 | % | | | 22.9 | % |
