Microchip Technology Announces Financial Results for Second Quarter of Fiscal Year 2025
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RECONCILIATION OF GAAP NET INCOME AND GAAP DILUTED NET INCOME PER COMMON SHARE TO NON-GAAP NET INCOME AND NON-GAAP DILUTED NET INCOME PER COMMON SHARE |
| | Three Months Ended September 30, | | Six Months Ended September 30, |
| | 2024 | | 2023 | | 2024 | | 2023 |
| Net income, as reported | $ | 78.4 | | | $ | 666.6 | | | $ | 207.7 | | | $ | 1,333.0 | |
| Share-based compensation expense | | 46.3 | | | | 45.4 | | | | 90.3 | | | | 89.9 | |
| Cybersecurity incident expenses | | 21.4 | | | | — | | | | 21.4 | | | | — | |
| Other adjustments | | 2.1 | | | | 0.8 | | | | 3.4 | | | | (0.1 | ) |
| Professional services associated with certain legal matters | | 0.2 | | | | 0.3 | | | | 0.7 | | | | 0.8 | |
| Amortization of acquired intangible assets | | 122.7 | | | | 151.4 | | | | 245.7 | | | | 302.9 | |
| Special charges and other, net | | 1.5 | | | | 1.8 | | | | 4.1 | | | | 3.5 | |
| Loss on settlement of debt | | — | | | | 3.1 | | | | — | | | | 12.2 | |
| Loss on available-for-sale investments | | 1.8 | | | | — | | | | 1.8 | | | | — | |
| Other non-GAAP tax adjustment | | (24.2 | ) | | | 19.9 | | | | (35.0 | ) | | | 52.4 | |
| Non-GAAP net income | $ | 250.2 | | | $ | 889.3 | | | $ | 540.1 | | | $ | 1,794.6 | |
| GAAP net income as a percentage of net sales | | 6.7 | % | | | 29.6 | % | | | 8.6 | % | | | 29.3 | % |
| Non-GAAP net income as a percentage of net sales | | 21.5 | % | | | 39.4 | % | | | 22.5 | % | | | 39.5 | % |
| Diluted net income per common share, as reported | $ | 0.14 | | | $ | 1.21 | | | $ | 0.38 | | | $ | 2.42 | |
| Non-GAAP diluted net income per common share | $ | 0.46 | | | $ | 1.62 | | | $ | 1.00 | | | $ | 3.26 | |
| Diluted common shares outstanding, as reported | | 542.0 | | | | 549.2 | | | | 542.4 | | | | 550.3 | |
| Diluted common shares outstanding non-GAAP | | 542.0 | | | | 549.2 | | | | 542.4 | | | | 550.3 | |
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