Microchip Technology Announces Financial Results for Second Quarter of Fiscal Year 2020
RECONCILIATION OF GAAP RESEARCH AND DEVELOPMENT EXPENSES TO NON-GAAP RESEARCH AND DEVELOPMENT EXPENSES
| | Three Months Ended | | Six Months Ended |
| | September 30, | | September 30, |
| | 2019 | | 2018 | | 2019 | | 2018 |
| Research and development expenses, as reported | $ | 219.8 | | | $ | 221.9 | | | $ | 438.9 | | | $ | 393.8 | |
| Share-based compensation expense | (22.3 | ) | | (19.7 | ) | | (41.8 | ) | | (33.8 | ) |
| Acquisition-related costs | — | | | (0.7 | ) | | (0.1 | ) | | (1.0 | ) |
| Non-GAAP research and development expenses | $ | 197.5 | | | $ | 201.5 | | | $ | 397.0 | | | $ | 359.0 | |
| Non-GAAP research and development expenses as a percentage of net sales | 14.8 | % | | 14.1 | % | | 14.9 | % | | 13.6 | % |
| | | | | | | | | | | | |
RECONCILIATION OF GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES TO NON-GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
| | Three Months Ended | | Six Months Ended |
| | September 30, | | September 30, |
| | 2019 | | 2018 | | 2019 | | 2018 |
| Selling, general and administrative expenses, as reported | $ | 172.3 | | | $ | 176.6 | | | $ | 340.2 | | | $ | 340.7 | |
| Share-based compensation expense | (17.8 | ) | | (17.8 | ) | | (34.1 | ) | | (29.5 | ) |
| Acquisition-related costs | (8.1 | ) | | (5.9 | ) | | (14.6 | ) | | (32.5 | ) |
| IT security remediation | (2.0 | ) | | — | | | (5.0 | ) | | — | |
| Non-GAAP selling, general and administrative expenses | $ | 144.4 | | | $ | 152.9 | | | $ | 286.5 | | | $ | 278.7 | |
| Non-GAAP selling, general and administrative expenses as a percentage of net sales | 10.8 | % | | 10.7 | % | | 10.8 | % | | 10.5 | % |
| | | | | | | | | | | | |
