RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
Three Months Ended March 31, | Twelve Months Ended March 31, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Operating expenses, as reported | $ | 536.4 | $ | 671.3 | $ | 2,424.7 | $ | 2,581.9 | |||||||
Share-based compensation expense | (37.4 | ) | (37.8 | ) | (151.9 | ) | (143.2 | ) | |||||||
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 expenses | $ | 363.6 | $ | 461.7 | $ | 1,676.4 | $ | 1,765.3 | |||||||
GAAP operating expenses as a percentage of net sales | 40.5 | % | 30.1 | % | 31.8 | % | 30.6 | % | |||||||
Non-GAAP operating expenses as a percentage of net sales | 27.4 | % | 20.7 | % | 22.0 | % | 20.9 | % |