Microchip Tech Q2 Filing: Assets $22.69B, Liab. $7.87B

TL;DR

**MCHP Q2:** Assets $22.69B, Liabilities $7.87B. Solid balance sheet.

AI Summary

Microchip Technology Inc. reported its second quarter results for the fiscal year ending March 31, 2025. For the six months ended September 30, 2024, the company had total assets of $22.69 billion and total liabilities of $7.87 billion. The filing covers the period from April 1, 2024, to September 30, 2024, and includes comparative data from the prior year.

Why It Matters

This filing provides a snapshot of Microchip Technology's financial health, detailing its asset and liability positions as of September 30, 2024, which is crucial for investors assessing the company's stability and financial obligations.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant financial distress.

Key Numbers

• $22.69B — Total Assets (As of September 30, 2024)
• $7.87B — Total Liabilities (As of September 30, 2024)

Key Players & Entities

• MICROCHIP TECHNOLOGY INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• $22.69 billion (dollar_amount) — Total Assets as of September 30, 2024
• $7.87 billion (dollar_amount) — Total Liabilities as of September 30, 2024

FAQ

Key Financial Figures

• $0.001 — ange on Which Registered Common Stock, $0.001 par value MCHP NASDAQ Stock Market LLC
• $750.0 million — ed in May 2023 2025 Term Loan Facility $750.0 million term loan facility created pursuant to
• $2.75 billion — rm unsecured promissory notes, of up to $2.75 billion outstanding at any one time Convertibl

Filing Documents

• mchp-20240930.htm (10-Q) — 1705KB
• ex221q2fy25.htm (EX-22.1) — 5KB
• ex311q2fy25.htm (EX-31.1) — 10KB
• ex312q2fy25.htm (EX-31.2) — 10KB
• ex32q2fy25.htm (EX-32) — 8KB
• mchp-20240930_g1.jpg (GRAPHIC) — 32KB
• 0000827054-24-000206.txt ( ) — 7902KB
• mchp-20240930.xsd (EX-101.SCH) — 38KB
• mchp-20240930_cal.xml (EX-101.CAL) — 83KB
• mchp-20240930_def.xml (EX-101.DEF) — 230KB
• mchp-20240930_lab.xml (EX-101.LAB) — 554KB
• mchp-20240930_pre.xml (EX-101.PRE) — 410KB
• mchp-20240930_htm.xml (XML) — 1302KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets – September 30, 2024 and March 31, 2024 4 Condensed Consolidated Statements of Income – Three and Six Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income – Three and Six Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows – Six Months Ended September 30, 2024 and 2023 7 Condensed Consolidated Statements of Changes in Equity - Three and Six Months Ended September 30, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 37

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 64 Item 3. Defaults Upon Senior Securities 64 Item 4. Mine Safety Disclosures 64 Item 5. Other Information 64 Item 6. Exhibits 65

Signatures

Signatures 2 MICROCHIP TECHNOLOGY INCORPORATED AND SUBSIDIARIES Defined Terms (1) Term Definition 4.333% 2023 Notes 2023 Senior Unsecured Notes, matured on June 1, 2023 2.670% 2023 Notes 2023 Senior Unsecured Notes, matured on September 1, 2023 0.972% 2024 Notes 2024 Senior Unsecured Notes, matured on February 15, 2024 0.983% 2024 Notes 2024 Senior Unsecured Notes, matured on September 1, 2024 4.250% 2025 Notes 2025 Senior Unsecured Notes, maturing on September 1, 2025 5.050% 2029 Notes 2029 Senior Unsecured Notes, maturing on March 15, 2029 2015 Senior Convertible Debt 2015 Senior Convertible Debt, maturing on February 15, 2025 2017 Senior Convertible Debt 2017 Senior Convertible Debt, maturing on February 15, 2027 2020 Senior Convertible Debt 2020 Senior Convertible Debt, maturing on November 15, 2024 2024 Senior Convertible Debt 2024 Senior Convertible Debt, maturing on June 1, 2030 2017 Junior Convertible Debt 2017 Junior Convertible Debt which was fully settled in May 2023 2025 Term Loan Facility $750.0 million term loan facility created pursuant to the amended Credit Agreement ASU Accounting Standards Update CEMs Client engagement managers CHIPS Act CHIPS and Science Act of 2022 Commercial Paper Short-term unsecured promissory notes, of up to $2.75 billion outstanding at any one time Convertible Debt 2015 Senior Convertible Debt, 2017 Senior Convertible Debt, 2020 Senior Convertible Debt, 2024 Senior Convertible Debt, and 2017 Junior Convertible Debt prior to the May 2023 settlement Credit Agreement Amended and Restated Credit Agreement, dated as of December 16, 2021, among the Company, as borrower, the lenders from time to time party thereto, and J.P. Morgan Chase Bank, N.A., as administrative agent, as amended by the First Incremental Term Loan Amendment, dated as of August 31, 2023 EAR Export Administration Regulation ESEs Embedded solutions engineers ESG Environmental, social and governance Exchange Act Securities Exchange

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

. Financial Statements

Item 1 . Financial Statements MICROCHIP TECHNOLOGY INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, except share and per share amounts; unaudited) ASSETS September 30, March 31, 2024 2024 Cash and cash equivalents $ 286.1 $ 319.7 Accounts receivable, net 1,044.3 1,143.7 Inventories 1,339.6 1,316.0 Other current assets 235.5 233.6 Total current assets 2,905.5 3,013.0 Property, plant and equipment, net 1,171.2 1,194.6 Goodwill 6,681.9 6,675.4 Intangible assets, net 2,654.5 2,781.8 Long-term deferred tax assets 1,637.5 1,596.5 Other assets 571.7 611.9 Total assets $ 15,622.3 $ 15,873.2 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable $ 204.2 $ 213.0 Accrued liabilities 1,135.2 1,307.0 Current portion of long-term debt 1,946.3 999.4 Total current liabilities 3,285.7 2,519.4 Long-term debt 4,476.6 5,000.4 Long-term income tax payable 590.4 649.2 Long-term deferred tax liability 29.8 28.8 Other long-term liabilities 963.9 1,017.6 Stockholders' equity: Preferred stock, $ 0.001 par value; authorized 5,000,000 shares; no shares issued or outstanding — — Common stock, $ 0.001 par value; authorized 900,000,000 shares; 577,807,023 shares issued and 537,010,234 shares outstanding at September 30, 2024; 577,806,659 shares issued and 536,663,691 shares outstanding at March 31, 2024 0.5 0.5 Additional paid-in capital 2,445.6 2,482.9 Common stock held in treasury: 40,796,789 shares at September 30, 2024; 41,142,968 shares at March 31, 2024 ( 2,643.3 ) ( 2,581.6 ) Accumulated other comprehensive loss ( 7.8 ) ( 3.5 ) Retained earnings 6,480.9 6,759.5 Total stockholders' equity 6,275.9 6,657.8 Total liabilities and stockholders' equity $ 15,622.3 $ 15,873.2 See accompanying notes to condensed consolidated financial statements 4 Table of Contents MICROCHIP TECHNOLOGY INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in millions, except per share amounts; unaudited) Three M

View Full Filing

View this 10-Q filing on SEC EDGAR