Microchip Technology Announces Financial Results for Second Quarter of Fiscal Year 2025
(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 September 30, | | Six Months Ended September 30, |
| 2024
| | 2023
| | 2024
| | 2023
|
Operating income, as reported | $ | 146.6 | | | $ | 885.0 | | | $ | 365.7 | | | $ | 1,788.1 | |
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(1) | | 122.7 | | | | 151.4 | | | | 245.7 | | | | 302.9 | |
Special charges and other, net | | 1.5 | | | | 1.8 | | | | 4.1 | | | | 3.5 | |
Non-GAAP operating income | $ | 340.8 | | | $ | 1,084.7 | | | $ | 731.3 | | | $ | 2,185.1 | |
GAAP operating income as a percentage of net sales | | 12.6 | % | | | 39.3 | % | | | 15.2 | % | | | 39.4 | % |
Non-GAAP operating income as a percentage of net sales | | 29.3 | % | | | 48.1 | % | | | 30.4 | % | | | 48.1 | % |
| | | | | | | | | | | | | | | |