Microchip Technology Announces Financial Results For Second Quarter of Fiscal Year 2024
RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
| | Three Months Ended September 30, | | Six Months Ended September 30, |
| | | 2023 | | | | 2022 | | | | 2023 | | | | 2022 | |
| Operating income, as reported | $ | 885.0 | | | $ | 755.1 | | | $ | 1,788.1 | | | $ | 1,456.4 | |
| Share-based compensation expense | | 45.4 | | | | 41.3 | | | | 89.9 | | | | 82.5 | |
| Other adjustments | | 0.8 | | | | 0.9 | | | | (0.1 | ) | | | 1.7 | |
| Professional services associated with certain legal matters | | 0.3 | | | | 2.3 | | | | 0.8 | | | | 3.2 | |
| Amortization of acquired intangible assets | | 151.4 | | | | 167.5 | | | | 302.9 | | | | 335.1 | |
| Special charges (income) and other, net | | 1.8 | | | | 4.3 | | | | 3.5 | | | | (12.6 | ) |
| Non-GAAP operating income | $ | 1,084.7 | | | $ | 971.4 | | | $ | 2,185.1 | | | $ | 1,866.3 | |
| GAAP operating income as a percentage of net sales | | 39.3 | % | | | 36.4 | % | | | 39.4 | % | | | 36.1 | % |
| Non-GAAP operating income as a percentage of net sales | | 48.1 | % | | | 46.9 | % | | | 48.1 | % | | | 46.2 | % |
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