Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2021
| | Three Months Ended | | Twelve Months Ended |
| | March 31, | | March 31, |
| | 2021 | | 2020 | | 2021 | | 2020 |
| Net income, as reported | $ | 116.0 | | | $ | 99.9 | | | $ | 349.4 | | | $ | 570.6 | |
| Share-based compensation expense | 55.0 | | | 40.7 | | | 198.3 | | | 170.2 | |
| COVID-19 shelter-in-place restrictions on manufacturing activities | — | | | 3.3 | | | 2.8 | | | 3.3 | |
| Manufacturing excursion | 5.8 | | | — | | | 5.8 | | | — | |
| Acquisition-related | 2.4 | | | 10.9 | | | 4.0 | | | 35.8 | |
| Professional services associated with certain legal matters | 0.4 | | | 3.3 | | | 9.5 | | | 3.3 | |
| IT security remediation | 0.1 | | | 1.1 | | | 1.5 | | | 6.8 | |
| Amortization of acquired intangible assets | 232.4 | | | 248.5 | | | 932.3 | | | 993.9 | |
| Special (income) charges and other, net | (7.2 | ) | | 17.2 | | | 1.7 | | | 46.7 | |
| Loss on settlement of debt | 85.6 | | | 3.4 | | | 299.6 | | | 5.4 | |
| Non-cash other expense, net | 12.0 | | | 31.0 | | | 66.6 | | | 122.6 | |
| Gains on equity investments | — | | | (1.5 | ) | | (0.2 | ) | | (2.6 | ) |
| Other non-GAAP tax adjustment | 18.9 | | | (82.3 | ) | | (86.7 | ) | | (516.4 | ) |
| Non-GAAP net income | $ | 521.4 | | | $ | 375.5 | | | $ | 1,784.6 | | | $ | 1,439.6 | |
| Non-GAAP net income as a percentage of net sales | 35.5 | % | | 28.3 | % | | 32.8 | % | | 27.3 | % |
| GAAP net income as a percentage of net sales | 7.9 | % | | 7.5 | % | | 6.4 | % | | 10.8 | % |
| Diluted net income per common share, as reported | $ | 0.41 | | | $ | 0.39 | | | $ | 1.29 | | | $ | 2.23 | |
| Non-GAAP diluted net income per common share | $ | 1.85 | | | $ | 1.46 | | | $ | 6.59 | | | $ | 5.62 | |
| Diluted common shares outstanding, as reported | 281.5 | | | 257.3 | | | 270.6 | | | 256.2 | |
| Diluted common shares outstanding non-GAAP | 281.5 | | | 257.3 | | | 270.6 | | | 256.2 | |
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