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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Income Statement        
Net sales $ 541,391 $ 546,243 $ 1,075,343 $ 1,075,119
Cost of sales (1) [1] 240,441 238,789 465,376 461,146
Gross profit 300,950 307,454 609,967 613,973
Operating expenses:        
Research and development (1) [1] 95,256 88,814 179,936 173,184
Selling, general and administrative (1) [1] 80,258 71,114 147,107 140,369
Amortization of acquired intangible assets 43,840 45,433 78,452 82,077
Special charges, net 6,648 775 8,205 1,079
Total operating expenses 226,002 206,136 413,700 396,709
Operating income 74,948 101,318 196,267 217,264
Losses on equity method investments (56) (35) (233) (67)
Other income (expense):        
Interest income 6,405 4,531 11,933 9,273
Interest expense (25,644) (14,019) (49,696) (27,697)
Other (expense) income, net (1,696) (1,091) 15,251 (1,078)
Income before income taxes 53,957 90,704 173,522 197,695
Income tax (benefit) provision (10,942) (1,334) (21,837) 15,748
Net income 64,899 92,038 195,359 181,947
Less: Net loss attributable to noncontrolling interests 0 1,603 207 1,603
Net income attributable to Microchip Technology $ 64,899 $ 93,641 $ 195,566 $ 183,550
Basic net income per common share attributable to Microchip Technology stockholders $ 0.32 $ 0.47 $ 0.96 $ 0.92
Diluted net income per common share attributable to Microchip Technology stockholders 0.30 0.42 0.90 0.82
Dividends declared per common share $ 0.3580 $ 0.3560 $ 0.7155 $ 0.7115
Basic common shares outstanding 204,275 200,629 203,254 200,408
Diluted common shares outstanding 217,099 225,284 216,933 224,906
Allocated Share-based Compensation Expense $ 23,026 $ 15,273 $ 37,138 $ 28,594
Cost of Sales [Member]        
Other income (expense):        
Allocated Share-based Compensation Expense [2] 2,398 2,640 4,055 4,695
Research and Development Expense [Member]        
Other income (expense):        
Allocated Share-based Compensation Expense 8,670 7,261 15,768 13,570
Selling, General and Administrative Expenses [Member]        
Other income (expense):        
Allocated Share-based Compensation Expense $ 11,958 $ 5,372 $ 17,315 $ 10,329
[1] Includes share-based compensation expense as follows:Cost of sales 2,398 2,640 4,055 4,695 Research and development 8,670 7,261 15,768 13,570 Selling, general and administrative 11,958 5,372 17,315 10,329
[2] During the three and six months ended September 30, 2015, $1.8 million and $3.6 million, respectively, of share-based compensation expense was capitalized to inventory and $2.4 million and $4.1 million, respectively, of previously capitalized share-based compensation expense in inventory was sold. 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 expense in inventory was sold.