Microchip Technology Announces Financial Results for Second Quarter of Fiscal Year 2025
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RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES |
| | Three Months Ended September 30, | | Six Months Ended September 30, |
| | 2024
| | 2023
| | 2024
| | 2023
|
| Operating expenses, as reported | $ | 521.9 | | | $ | 642.4 | | | $ | 1,039.7 | | | $ | 1,297.7 | |
| Share-based compensation expense | | (42.0 | ) | | | (38.0 | ) | | | (79.4 | ) | | | (75.7 | ) |
| Cybersecurity incident expenses | | (1.3 | ) | | | — | | | | (1.3 | ) | | | — | |
| Other adjustments | | (2.1 | ) | | | (0.8 | ) | | | (3.4 | ) | | | 0.1 | |
| Professional services associated with certain legal matters | | (0.2 | ) | | | (0.3 | ) | | | (0.7 | ) | | | (0.8 | ) |
| Amortization of acquired intangible assets(1) | | (122.7 | ) | | | (151.4 | ) | | | (245.7 | ) | | | (302.9 | ) |
| Special charges and other, net | | (1.5 | ) | | | (1.8 | ) | | | (4.1 | ) | | | (3.5 | ) |
| Non-GAAP operating expenses | $ | 352.1 | | | $ | 450.1 | | | $ | 705.1 | | | $ | 914.9 | |
| GAAP operating expenses as a percentage of net sales | | 44.8 | % | | | 28.5 | % | | | 43.2 | % | | | 28.6 | % |
| Non-GAAP operating expenses as a percentage of net sales | | 30.3 | % | | | 20.0 | % | | | 29.3 | % | | | 20.1 | % |
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