XML 64 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Income Statement        
Net sales $ 546,243 $ 492,669 $ 1,075,119 $ 955,461
Cost of sales (1) 238,789 [1] 203,806 [1] 461,146 400,024
Gross profit 307,454 288,863 613,973 555,437
Operating expenses:        
Research and development (1) 88,814 [1] 78,254 [1] 173,184 151,339
Selling, general and administrative (1) 71,114 [1] 69,368 [1] 140,369 135,078
Amortization of acquired intangible assets 45,433 23,744 82,077 51,421
Special charges (income) 775 (11) 1,079 1,690
Total operating expenses 206,136 171,355 396,709 339,528
Operating income 101,318 117,508 217,264 215,909
Losses on equity method investments (35) (101) (67) (361)
Other income (expense):        
Interest income 4,531 4,010 9,273 7,935
Interest expense (14,019) (12,354) (27,697) (24,210)
Other (expense) income, net (1,091) 2,143 (1,078) 2,269
Income before income taxes 90,704 111,206 197,695 201,542
Income tax (benefit) provision (1,334) 11,400 15,748 23,157
Net income 92,038 99,806 181,947 178,385
Less: Net loss attributable to noncontrolling interests 1,603 0 1,603 0
Net income attributable to Microchip Technology 93,641 99,806 183,550 178,385
Basic net income per common share attributable to Microchip Technology stockholders $ 0.47 $ 0.50 $ 0.92 $ 0.90
Diluted net income per common share attributable to Microchip Technology stockholders $ 0.42 $ 0.46 $ 0.82 $ 0.83
Dividends declared per common share $ 0.3560 $ 0.3540 $ 0.7115 $ 0.7075
Basic common shares outstanding 200,629 197,825 200,408 197,388
Diluted common shares outstanding 225,284 216,475 224,906 214,371
Allocated Share-based Compensation Expense 13,440 13,411 25,341 24,665
Cost of Sales [Member]
       
Other income (expense):        
Allocated Share-based Compensation Expense 2,640 [2] 1,864 [2] 4,695 [2] 3,833 [2]
Research and Development Expense [Member]
       
Other income (expense):        
Allocated Share-based Compensation Expense 7,261 6,931 13,570 12,621
Selling, General and Administrative Expenses [Member]
       
Other income (expense):        
Allocated Share-based Compensation Expense $ 5,372 $ 6,205 $ 10,329 $ 11,202
[1] Includes share-based compensation expense as follows:Cost of sales 2,640 1,864 4,695 3,833 Research and development 7,261 6,931 13,570 12,621 Selling, general and administrative 5,372 6,205 10,329 11,202
[2] During the three and six months ended September 30, 2014, $1.6 million and $3.3 million, respectively, of share-based compensation expense was capitalized to inventory and $2.6 million and $4.7 million, respectively, of previously capitalized share-based compensation expenses in inventory was sold. During the three and six months ended September 30, 2013, $2.4 million and $3.8 million, respectively, of share-based compensation expense was capitalized to inventory and $1.9 million and $3.8 million, respectively, of previously capitalized share-based compensation expense in inventory was sold.