Microchip Technology Announces Record Financial Results for Second Quarter of Fiscal Year 2022
RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
| | Three Months Ended September 30, | | Six Months Ended September 30, |
| | 2021 | | 2020 | | 2021 | | 2020 |
| Operating income, as reported | $ | 416.3 | | | $ | 226.2 | | | | $ | 785.1 | | | $ | 444.5 | |
| Share-based compensation expense | 55.7 | | | 49.7 | | | | 112.3 | | | 92.1 | |
| COVID-19 shelter-in-place restrictions on manufacturing activities | — | | | — | | | | — | | | 2.8 | |
| Acquisition-related | 1.1 | | | (0.9 | ) | | | 2.6 | | | 0.6 | |
| Professional services associated with certain legal matters | 1.7 | | | 1.3 | | | | 3.8 | | | 4.8 | |
| IT security remediation | — | | | 0.3 | | | | — | | | 1.3 | |
| Amortization of acquired intangible assets | 215.7 | | | 232.9 | | | | 431.3 | | | 468.3 | |
| Special charges and other, net | 10.2 | | | 4.3 | | | | 20.7 | | | 4.6 | |
| Non-GAAP operating income | $ | 700.7 | | | $ | 513.8 | | | | $ | 1,355.8 | | | $ | 1,019.0 | |
| Non-GAAP operating income as a percentage of net sales | 42.5 | % | | 39.2 | | % | | 42.1 | % | | 38.9 | % |
