Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2022
RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
| | Three Months Ended March 31, | | Twelve Months Ended March 31, |
| | | 2022 | | | | 2021 | | | | 2022 | | | | 2021 | |
| Operating income, as reported | $ | 549.5 | | | $ | 308.0 | | | $ | 1,849.6 | | | $ | 998.1 | |
| Share-based compensation expense | | 47.0 | | | | 55.0 | | | | 210.2 | | | | 198.3 | |
| COVID-19 shelter-in-place restrictions on manufacturing activities | | — | | | | — | | | | — | | | | 2.8 | |
| Manufacturing excursion | | — | | | | 5.8 | | | | — | | | | 5.8 | |
| Acquisition-related | | 1.0 | | | | 2.4 | | | | 4.9 | | | | 4.1 | |
| Professional services associated with certain legal matters | | 2.8 | | | | 0.4 | | | | 8.4 | | | | 9.5 | |
| IT security remediation | | — | | | | 0.1 | | | | 0.2 | | | | 1.5 | |
| Amortization of acquired intangible assets | | 215.5 | | | | 232.4 | | | | 862.5 | | | | 932.3 | |
| Special charges (income) and other, net | | 9.1 | | | | (7.2 | ) | | | 29.5 | | | | 1.7 | |
| Non-GAAP operating income | $ | 824.9 | | | $ | 596.9 | | | $ | 2,965.3 | | | $ | 2,154.1 | |
| Non-GAAP operating income as a percentage of net sales | | 44.7 | % | | | 40.7 | % | | | 43.5 | % | | | 39.6 | % |
