Microchip Technology Announces Financial Results for Fourth Quarter and Fiscal Year 2020
RECONCILIATION OF GAAP RESEARCH AND DEVELOPMENT EXPENSES TO NON-GAAP RESEARCH AND DEVELOPMENT EXPENSES
| | Three Months Ended | | Twelve Months Ended |
| | March 31, | | March 31, |
| | 2020 | | 2019 | | 2020 | | 2019 |
| Research and development expenses, as reported | $ | 221.8 | | | $ | 214.8 | | | $ | 877.8 | | | $ | 826.3 | |
| Share-based compensation expense | (19.9 | ) | | (18.8 | ) | | (82.9 | ) | | (72.0 | ) |
| Acquisition-related costs | — | | | (0.1 | ) | | (0.1 | ) | | (1.4 | ) |
| Non-GAAP research and development expenses | $ | 201.9 | | | $ | 195.9 | | | $ | 794.8 | | | $ | 752.9 | |
| Non-GAAP research and development expenses as a percentage of net sales | 15.2 | % | | 14.7 | % | | 15.1 | % | | 14.1 | % |
RECONCILIATION OF GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES TO NON-GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
| | Three Months Ended | | Twelve Months Ended |
| | March 31, | | March 31, |
| | 2020 | | 2019 | | 2020 | | 2019 |
| Selling, general and administrative expenses, as reported | $ | 165.7 | | | $ | 167.5 | | | $ | 676.6 | | | $ | 682.9 | |
| Share-based compensation expense | (15.7 | ) | | (16.3 | ) | | (66.4 | ) | | (62.3 | ) |
| Acquisition-related costs | (10.9 | ) | | (4.3 | ) | | (35.7 | ) | | (41.9 | ) |
| Professional services associated with certain legal matters | (3.3 | ) | | — | | | (3.3 | ) | | — | |
| IT security remediation | (1.1 | ) | | — | | | (6.8 | ) | | — | |
| Non-GAAP selling, general and administrative expenses | $ | 134.7 | | | $ | 146.9 | | | $ | 564.4 | | | $ | 578.7 | |
| Non-GAAP selling, general and administrative expenses as a percentage of net sales | 10.2 | % | | 11.0 | % | | 10.7 | % | | 10.8 | % |
