Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2022
RECONCILIATION OF GAAP INCOME TAX PROVISION (BENEFIT) TO NON-GAAP INCOME TAX PROVISION
| | Three Months Ended March 31, | | Twelve Months Ended March 31, |
| | | 2022 | | | | 2021 | | | | 2022 | | | | 2021 | |
| Income tax provision (benefit) as reported | $ | 41.3 | | | $ | 28.4 | | | $ | 197.0 | | | $ | (9.9 | ) |
| Income tax rate, as reported | | 8.6 | % | | | 19.7 | % | | | 13.3 | % | | (2.9 | )% |
| Other non-GAAP tax adjustment | | (31.1 | ) | | | (18.9 | ) | | | (63.1 | ) | | | 86.7 | |
| Non-GAAP income tax provision | $ | 10.2 | | | $ | 9.5 | | | $ | 133.9 | | | $ | 76.8 | |
| Non-GAAP income tax rate | | 1.3 | % | | | 1.8 | % | | | 4.9 | % | | | 4.1 | % |
