Microchip Technology Announces Financial Results For Fourth Quarter and Fiscal Year 2024

(1) Amortization of acquired intangible assets consists of core and developed technology and customer-related acquired intangible assets in connection with business combinations. Such charges are excluded for purposes of calculating certain non-GAAP measures.


RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME

 Three Months Ended March 31, Twelve Months Ended March 31,
  2024   2023   2024   2023 
Operating income, as reported$253.5  $848.0  $2,571.0  $3,116.0 
Share-based compensation expense 42.8   43.9   177.5   170.4 
Other manufacturing adjustments 4.3      4.3    
Other adjustments 0.8   0.8   1.8   2.8  
Professional services associated with certain legal matters   0.3       1.5       1.5       4.7  
Amortization of acquired intangible assets (1)   151.2       167.4       605.4       669.9  
Special (income) charges and other, net   (16.9 )     2.1       (12.3 )     (4.0 )
Non-GAAP operating income $ 436.0     $ 1,063.7     $ 3,349.2     $ 3,959.8  
GAAP operating income as a percentage of net sales   19.1 %     38.0 %     33.7 %     36.9 %
Non-GAAP operating income as a percentage of net sales   32.9 %     47.6 %     43.9 %     46.9 %

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