Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2023
RECONCILIATION OF GAAP CASH FLOW FROM OPERATIONS TO FREE CASH FLOW
| | Three Months Ended March 31, | | Twelve Months Ended March 31, |
| | | 2023 | | | | 2022 | | | | 2023 | | | | 2022 | |
| GAAP cash flow from operations, as reported | $ | 709.5 | | | $ | 747.7 | | | $ | 3,621.0 | | | $ | 2,842.7 | |
| Capital expenditures | | (112.7 | ) | | | (114.6 | ) | | | (486.2 | ) | | | (370.1 | ) |
| Free cash flow | $ | 596.8 | | | $ | 633.1 | | | $ | 3,134.8 | | | $ | 2,472.6 | |
| GAAP cash flow from operations as a percentage of net sales | | 31.8 | % | | | 40.5 | % | | | 42.9 | % | | | 41.7 | % |
| Free cash flow as a percentage of net sales | | 26.7 | % | | | 34.3 | % | | | 37.1 | % | | | 36.3 | % |
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