Quarterly Results (Unaudited)

The following table presents the Company's selected unaudited quarterly operating results for the eight quarters ended March 31, 2018. The Company believes that all adjustments of a normal recurring nature have been made to present fairly the related quarterly results (in millions, except per share amounts. Amounts may not add to the total due to rounding):



Fiscal 2018	First Quarter			Second Quarter		Third Quarter			Fourth Quarter		Total
Net sales	$	972.1		$	1,012.1	$	994.2		$	1,002.3	$	3,980.8
Gross profit	584.4			614.1		607.1			615.1		2,420.7
Operating income	221.6			225.4		245.2			244.1		936.3
Net income (loss) attributable to Microchip Technology	170.6			189.2		(251.1		)	146.7		255.4
Diluted net income (loss) per common share attributable to Microchip Technology stockholders	0.70			0.77		(1.07		)	0.58		1.03

Fiscal 2017	First Quarter			Second Quarter		Third Quarter			Fourth Quarter		Total
Net sales	$	799.4		$	871.4	$	834.4		$	902.7	$	3,407.8
Gross profit	348.5			410.6		465.3			532.8		1,757.2
Operating income (loss)	(59.1		)	62.8		118.1			154.1		275.8
Net income (loss) attributable to Microchip Technology	(113.4		)	33.9		107.2			136.9		164.6
Diluted net income (loss) per common share attributable to Microchip Technology stockholders	(0.53		)	0.14		0.46			0.57		0.71

Refer to Note 10, Income Taxes, for an explanation of the one-time transition tax recognized in the third quarter of fiscal 2018. Refer to Note 3, Special Charges and Other, Net, for an explanation of the special charges included in operating income in fiscal 2018 and fiscal 2017. Refer to Note 11, Debt and Credit Facility, for an explanation of the loss on settlement of convertible debt included in net income (loss) of $13.8 million and $2.2 million for the first quarter and third quarter of fiscal 2018, respectively, and $43.9 million during the fourth quarter of fiscal 2017. Refer to Note 4, Investments, for an explanation of the impairment recognized on available-for-sale securities in the fourth quarter of fiscal 2018. No material net realized gains or losses occurred in fiscal 2017.