Microchip Technology Announces Record Financial Results For First Quarter of Fiscal Year 2024
RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
| | Three Months Ended June 30, |
| | | 2023 | | | | 2022 | |
| Operating income, as reported | $ | 903.1 | | | $ | 701.3 | |
| Share-based compensation expense | | 44.5 | | | | 41.2 | |
| Other adjustments | | (0.9 | ) | | | 0.8 | |
| Professional services associated with certain legal matters | | 0.5 | | | | 0.9 | |
| Amortization of acquired intangible assets | | 151.5 | | | | 167.6 | |
| Special charges (income) and other, net | | 1.7 | | | | (16.9 | ) |
| Non-GAAP operating income | $ | 1,100.4 | | | $ | 894.9 | |
| GAAP operating income as a percentage of net sales | | 39.5 | % | | | 35.7 | % |
| Non-GAAP operating income as a percentage of net sales | | 48.1 | % | | | 45.6 | % |
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