Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2023
RECONCILIATION OF GAAP OTHER EXPENSE, NET TO NON-GAAP OTHER EXPENSE, NET
| | Three Months Ended March 31, | | Twelve Months Ended March 31, |
| | | 2023 | | | | 2022 | | | | 2023 | | | | 2022 | |
| Other expense, net, as reported | $ | (46.2 | ) | | $ | (70.3 | ) | | $ | (206.3 | ) | | $ | (367.1 | ) |
| Loss on settlement of debt | | — | | | | 11.8 | | | | 8.3 | | | | 113.4 | |
| Non-cash other expense, net | | — | | | | 8.4 | | | | 0.1 | | | | 38.6 | |
| Gains on equity investments | | — | | | | — | | | | — | | | | (5.5 | ) |
| Non-GAAP other expense, net | $ | (46.2 | ) | | $ | (50.1 | ) | | $ | (197.9 | ) | | $ | (220.6 | ) |
| GAAP other expense, net, as a percentage of net sales | (2.1) % | | (3.8) % | | (2.4) % | | (5.4) % |
| Non-GAAP other expense, net, as a percentage of net sales | (2.1) % | | (2.7) % | | (2.3) % | | (3.2) % |
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