$MCHP

MICROCHIP TECHNOLOGY INC

CIK:0000827054|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 1,484.7	$ 1,075.5
Cost of sales	545.8	498.8
Gross profit	938.9	576.7
Research and development	308.9	255.5
Selling, general and administrative	184.3	159.3
Amortization of acquired intangible assets	90.0	107.6
Special charges and other, net	18.9	22.2
Operating expenses	602.1	544.6
Operating income	336.8	32.1
Interest income	1.4	4.9
Interest expense	(48.8)	(57.4)
Other income, net	0.5	4.6
Income before income taxes	289.9	(15.8)
Income tax provision	60.1	2.8
Net income (loss)	229.8	(18.6)
Dividends on Series A Preferred Stock	(27.8)	(27.8)
Net income (loss) attributable to common stockholders	$ 202.0	$ (46.4)
Basic net income (loss) per common share (in dollars per share)	$ 0.37	$ (0.09)
Diluted net income (loss) per common share (in dollars per share)	0.37	(0.09)
Dividends declared per common share (in dollars per share)	$ 0.455	$ 0.455
Basic common shares outstanding (in shares)	542.5	539.2
Diluted common shares outstanding (in shares)	550.5	539.2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ 229.8	$ (18.6)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	156.7	171.1
Deferred income taxes	11.4	(3.0)
Share-based compensation expense related to equity incentive plans	75.0	52.9
Amortization of debt discount	3.9	1.4
Amortization of debt issuance costs	2.3	1.4
Impairment of intangible assets	0.1	2.2
Other	(3.7)	(0.6)
Changes in operating assets and liabilities, excluding impact of acquisitions:
Increase in accounts receivable	(73.1)	(75.8)
(Increase) decrease in inventories	(9.2)	125.0
Increase in accounts payable and accrued liabilities	116.9	27.6
Change in other assets and liabilities	(28.0)	(3.4)
Change in income tax payable	29.4	(4.6)
Net cash provided by operating activities	511.5	275.6
Cash flows from investing activities:
Proceeds from capital-related government incentives	0.1	4.8
Investments in other assets	(38.2)	(23.8)
Capital expenditures	(13.9)	(17.9)
Net cash used in investing activities	(52.0)	(36.9)
Cash flows from financing activities:
Proceeds from issuance of Commercial Paper	1,466.7	0.0
Repayments of Commercial Paper	(1,604.3)	(174.1)
Proceeds from sale of common stock	13.0	12.4
Tax payments related to shares withheld for vested RSUs	(27.7)	(8.4)
Payment of cash dividends on Series A Preferred Stock	(27.8)	(25.1)
Payment of cash dividends on common stock	(246.9)	(245.5)
Capital lease payments	(0.4)	(0.4)
Other financing	(0.1)	(2.8)
Net cash used in financing activities	(427.5)	(443.9)
Net increase (decrease) in cash and cash equivalents	32.0	(205.2)
Cash and cash equivalents, at beginning of period	240.3	771.7
Cash and cash equivalents, at end of period	$ 272.3	$ 566.5

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Mar. 31, 2026
ASSETS
Cash and cash equivalents	$ 272.3	$ 240.3
Accounts receivable, net	967.7	894.7
Inventories	1,047.3	1,035.4
Other current assets	198.9	207.2
Total current assets	2,486.2	2,377.6
Property, plant and equipment, net	1,084.4	1,106.7
Goodwill	6,695.5	6,695.5
Net Amount	2,001.4	2,033.4
Long-term deferred tax assets	1,781.8	1,792.5
Other assets	358.1	364.4
Total assets	14,407.4	14,370.1
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	228.9	205.6
Accrued liabilities	1,065.5	930.7
Total current liabilities	1,294.4	1,136.3
Long-term debt	5,361.3	5,496.4
Long-term income tax payable	580.2	570.9
Long-term deferred tax liability	25.4	25.1
Other long-term liabilities	695.1	709.0
Stockholders' equity:
Preferred stock, $0.001 par value per share; authorized 5,000,000 shares; 7.50% Series A mandatory convertible preferred stock, 1,485,000 shares issued and outstanding at June 30, 2026 and March 31, 2026, with a liquidation preference of $1,000 per share, or $1,485.0 million in the aggregate	0.0	0.0
Common stock, $0.001 par value per share; authorized 900,000,000 shares; 578,424,252 shares issued and 543,008,365 shares outstanding at June 30, 2026; 578,423,967 shares issued and 542,079,011 shares outstanding at March 31, 2026	0.6	0.6
Additional paid-in capital	4,115.7	4,071.5
Common stock held in treasury: 35,415,887 shares at June 30, 2026; 36,344,956 shares at March 31, 2026	(2,532.6)	(2,551.4)
Accumulated other comprehensive loss	(3.7)	(4.2)
Retained earnings	4,871.0	4,915.9
Total stockholders' equity	6,451.0	6,432.4
Total liabilities and stockholders' equity	$ 14,407.4	$ 14,370.1