Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2023
RECONCILIATION OF GAAP INCOME TAX PROVISION TO NON-GAAP INCOME TAX PROVISION
| | Three Months Ended March 31, | | Twelve Months Ended March 31, |
| | | 2023 | | | | 2022 | | | | 2023 | | | | 2022 | |
| Income tax provision as reported | $ | 197.8 | | | $ | 41.3 | | | $ | 672.0 | | | $ | 197.0 | |
| Income tax rate, as reported | | 24.7 | % | | | 8.6 | % | | | 23.1 | % | | | 13.3 | % |
| Other non-GAAP tax adjustment | | (88.1 | ) | | | (31.1 | ) | | | (263.2 | ) | | | (63.1 | ) |
| Non-GAAP income tax provision | $ | 109.7 | | | $ | 10.2 | | | $ | 408.8 | | | $ | 133.9 | |
| Non-GAAP income tax rate | | 10.8 | % | | | 1.3 | % | | | 10.9 | % | | | 4.9 | % |
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