Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2023

RECONCILIATION OF GAAP TO NON-GAAP MEASURES
(in millions, except per share amounts and percentages; unaudited)

RECONCILIATION OF GAAP GROSS PROFIT TO NON-GAAP GROSS PROFIT

 Three Months Ended March 31, Twelve Months Ended March 31,
  2023   2022   2023   2022 
Gross profit, as reported$1,519.3  $1,220.4  $5,697.9  $4,449.6 
Share-based compensation expense 6.1   8.0   27.2   34.3 
Non-GAAP gross profit$1,525.4  $1,228.4  $5,725.1  $4,483.9 
GAAP gross profit percentage 68.0%   66.2 %     67.5 %     65.2 %
Non-GAAP gross profit percentage   68.3 %     66.6 %     67.8 %     65.7 %
                               

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