Microchip Technology Announces Financial Results For Second Quarter of Fiscal Year 2024
RECONCILIATION OF GAAP RESEARCH AND DEVELOPMENT EXPENSES TO NON-GAAP RESEARCH AND DEVELOPMENT EXPENSES
| | Three Months Ended September 30, | | Six Months Ended September 30, |
| | | 2023 | | | | 2022 | | | | 2023 | | | | 2022 | |
| Research and development expenses, as reported | $ | 292.6 | | | $ | 268.6 | | | $ | 591.1 | | | $ | 537.6 | |
| Share-based compensation expense | | (23.7 | ) | | | (19.8 | ) | | | (46.6 | ) | | | (39.9 | ) |
| Other adjustments | | (0.2 | ) | | | (0.2 | ) | | | (0.4 | ) | | | (0.4 | ) |
| Non-GAAP research and development expenses | $ | 268.7 | | | $ | 248.6 | | | $ | 544.1 | | | $ | 497.3 | |
| GAAP research and development expenses as a percentage of net sales | | 13.0 | % | | | 13.0 | % | | | 13.0 | % | | | 13.3 | % |
| Non-GAAP research and development expenses as a percentage of net sales | | 11.9 | % | | | 12.0 | % | | | 12.0 | % | | | 12.3 | % |
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