Microchip Technology Announces Financial Results for Third Quarter of Fiscal Year 2024

 
RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
 Three Months Ended December 31, Nine Months Ended December 31,
  2023  2022  2023  2022
Operating expenses, as reported$        590.6  $        659.2  $        1,888.3  $        1,910.6 
Share-based compensation expense         (38.8)          (37.1)          (114.5)          (105.4)
Other adjustments         (1.1)          (0.3)          (1.0)          (2.0)
Professional services associated with certain legal matters         (0.4)          —           (1.2)          (3.2)
Amortization of acquired intangible assets         (151.3)          (167.4)          (454.2)            (502.5 )
Special charges (income) and other, net           (1.1 )             (6.5 )             (4.6 )             6.1  
Non-GAAP operating expenses $         397.9     $         447.9     $         1,312.8     $         1,303.6  
GAAP operating expenses as a percentage of net sales           33.4 %             30.4 %             29.9 %             30.8 %
Non-GAAP operating expenses as a percentage of net sales           22.5 %             20.6 %             20.8 %             21.0 %



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