Microchip Technology Announces Outstanding Financial Results for

Microchip Technology Announces Outstanding Financial Results for Third Quarter Fiscal Year 2017

MICROCHIP TECHNOLOGY INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands)

ASSETS

	December 31,		March 31,
	2016		2016
	(Unaudited)
Cash and short-term investments	$	669,643	$	2,446,035
Accounts receivable, net	475,093		290,183
Inventories	419,618		306,815
Assets held for sale	5,757		—
Other current assets	106,639		53,680
Total current assets	1,676,750		3,096,713

Property, plant and equipment, net	698,704		609,396
Long-term investments	30,007		118,549
Other assets	4,739,120		1,713,225
Total assets	$	7,144,581	$	5,537,883


LIABILITIES AND STOCKHOLDERS' EQUITY

Accounts payable and accrued liabilities	$	357,294	$	198,577
Deferred income on shipments to distributors	294,259		183,432
Total current liabilities	651,553		382,009

Long-term line of credit	1,675,423		1,043,156
Senior convertible debentures	1,250,178		1,216,313
Junior convertible debentures	198,393		193,936
Long-term income tax payable	266,763		111,061
Long-term deferred tax liability	386,824		399,218
Other long-term liabilities	148,549		41,271

Stockholders' equity	2,566,898		2,150,919
Total liabilities and stockholders' equity	$	7,144,581	$	5,537,883

MICROCHIP TECHNOLOGY INCORPORATED AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP MEASURES (in thousands except per share amounts and percentages) (unaudited)

RECONCILIATION OF GAAP NET SALES TO NON-GAAP NET SALES

	Three Months ended				Nine Months Ended
	December 31,				December 31,
	2016		2015		2016		2015
Net sales, as reported	$	834,366	$	540,344	$	2,505,141	$	1,615,687
Distributor revenue recognition adjustment	46,821		11,669		93,879		29,710
Non-GAAP net sales	$	881,187	$	552,013	$	2,599,020	$	1,645,397

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