Microchip Technology Announces Record Financial Results for Second Quarter of Fiscal Year 2022
RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
| | Three Months Ended September 30, | | Six Months Ended September 30, |
| | 2021 | | 2020 | | 2021 | | 2020 |
| Operating expenses, as reported | $ | 652.0 | | | | $ | 581.7 | | | | $ | 1,290.8 | | | | $ | 1,161.7 | | |
| Share-based compensation expense | (46.6 | ) | | | (43.7 | ) | | | (94.4 | ) | | | (79.7 | ) | |
| Acquisition-related | (1.1 | ) | | | 0.9 | | | | (2.6 | ) | | | (0.6 | ) | |
| Professional services associated with certain legal matters | (1.7 | ) | | | (1.3 | ) | | | (3.8 | ) | | | (4.8 | ) | |
| IT security remediation | — | | | | (0.3 | ) | | | — | | | | (1.3 | ) | |
| Amortization of acquired intangible assets | (215.7 | ) | | | (232.9 | ) | | | (431.3 | ) | | | (468.3 | ) | |
| Special charges and other, net | (10.2 | ) | | | (4.3 | ) | | | (20.7 | ) | | | (4.6 | ) | |
| Non-GAAP operating expenses | $ | 376.7 | | | | $ | 300.1 | | | | $ | 738.0 | | | | $ | 602.4 | | |
| Non-GAAP operating expenses as a percentage of net sales | 22.8 | | % | | 23.0 | | % | | 22.9 | | % | | 23.0 | | % |
