Microchip Technology Announces Financial Results for Second Quarter of Fiscal Year 2021
RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
| | Three Months Ended | | Six Months Ended |
| | September 30, | | September 30, |
| | 2020 | | 2019 | | 2020 | | 2019 |
| Operating expenses, as reported | $ | 581.7 | | | $ | 643.9 | | | $ | 1,161.7 | | | $ | 1,287.5 | |
| Share-based compensation expense | (43.7 | ) | | (40.1 | ) | | (79.7 | ) | | (75.9 | ) |
| Acquisition-related | 0.9 | | | (8.1 | ) | | (0.6 | ) | | (14.7 | ) |
| Professional services associated with certain legal matters | (1.3 | ) | | — | | | (4.8 | ) | | — | |
| IT security remediation | (0.3 | ) | | (2.0 | ) | | (1.3 | ) | | (5.0 | ) |
| Amortization of acquired intangible assets | (232.9 | ) | | (248.2 | ) | | (468.3 | ) | | (496.7 | ) |
| Special charges and other, net | (4.3 | ) | | (3.6 | ) | | (4.6 | ) | | (11.7 | ) |
| Non-GAAP operating expenses | $ | 300.1 | | | $ | 341.9 | | | $ | 602.4 | | | $ | 683.5 | |
| Non-GAAP operating expenses as a percentage of net sales | 23.0 | % | | 25.5 | % | | 23.0 | % | | 25.7 | % |
