MICROCHIP TECHNOLOGY INC
For the period ended Jun 30, 2024. Filed Aug 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 1, 2024
MCHP$60.33-1.9%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows –
| Three Months Ended June 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $129.3 | $666.4 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 188.7 | 222.9 |
| Deferred income taxes | (8.1) | 23.9 |
| Share-based compensation expense related to equity incentive plans | 44.0 | 44.5 |
| Loss on settlement of debt | — | 9.1 |
| Amortization of debt discount | 16.6 | 1.7 |
| Amortization of debt issuance costs | 2.0 | 2.2 |
| Impairment of intangible assets | — | 0.5 |
| Other | (18.4) | (0.1) |
| Changes in operating assets and liabilities, excluding impact of acquisitions: | ||
| Decrease (increase) in accounts receivable | 47.9 | (159.7) |
| Decrease (increase) in inventories | 9.2 | (10.6) |
| (Decrease) increase in accounts payable and accrued liabilities | (41.2) | 34.9 |
| Change in other assets and liabilities | (20.7) | 50.5 |
| Change in income tax payable | 27.8 | 107.0 |
| Net cash provided by operating activities | 377.1 | 993.2 |
| Cash flows from investing activities: | ||
| Proceeds from sales of assets | — | 0.3 |
| Proceeds from capital-related government incentives | 0.1 | — |
| Investments in other assets | (52.7) | (30.1) |
| Capital expenditures | (72.9) | (111.1) |
| Net cash used in investing activities | (125.5) | (140.9) |
| Cash flows from financing activities: | ||
| Proceeds from borrowings on Revolving Credit Facility | — | 2,585.0 |
| Repayments of Revolving Credit Facility | — | (1,960.0) |
| Proceeds from issuance of Commercial Paper | 3,573.4 | — |
| Repayments of Commercial Paper | (4,637.5) | — |
| Repayment of senior notes | — | (1,000.0) |
| Proceeds from issuance of convertible debt | 1,250.0 | — |
| Payments on settlement of convertible debt | — | (90.1) |
| Deferred financing costs | (15.6) | — |
| Purchase of capped call options | (105.0) | — |
| Proceeds from sale of common stock | 13.1 | 15.3 |
| Tax payments related to shares withheld for vested RSUs | (18.9) | (15.7) |
| Repurchase of common stock | (72.7) | (140.3) |
| Payment of cash dividends | (242.6) | (208.9) |
| Capital lease payments | (0.4) | (0.4) |
| Net cash used in financing activities | (256.2) | (815.1) |
| Net (decrease) increase in cash and cash equivalents | (4.6) | 37.2 |
| Cash and cash equivalents, and restricted cash at beginning of period | 319.7 | 234.0 |
| Cash and cash equivalents, and restricted cash at end of period | $315.1 | $271.2 |
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