Microchip Technology Announces Financial Results for Third Quarter of Fiscal Year 2021
RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
| | Three Months Ended | | Nine Months Ended |
| | December 31, | | December 31, |
| | 2020 | | 2019 | | 2020 | | 2019 |
| Operating expenses, as reported | $ | 600.2 | | | | $ | 654.3 | | | | $ | 1,761.9 | | | | $ | 1,941.8 | | |
| Share-based compensation expense | (44.8 | ) | | | (37.8 | ) | | | (124.5 | ) | | | (113.7 | ) | |
| Acquisition-related | (1.0 | ) | | | (10.2 | ) | | | (1.6 | ) | | | (24.9 | ) | |
| Professional services associated with certain legal matters | (4.3 | ) | | | — | | | | (9.1 | ) | | | — | | |
| IT security remediation | (0.1 | ) | | | (0.7 | ) | | | (1.4 | ) | | | (5.7 | ) | |
| Amortization of acquired intangible assets | (231.6 | ) | | | (248.7 | ) | | | (699.9 | ) | | | (745.4 | ) | |
| Special charges and other, net | (4.3 | ) | | | (17.8 | ) | | | (8.9 | ) | | | (29.5 | ) | |
| Non-GAAP operating expenses | $ | 314.1 | | | | $ | 339.1 | | | | $ | 916.5 | | | | $ | 1,022.6 | | |
| Non-GAAP operating expenses as a percentage of net sales | 23.2 | | % | | 26.4 | | % | | 23.1 | | % | | 25.9 | | % |
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