A microprocessor splits a fused multiply-accumulate operation of the form A*B+C into first and second multiply-accumulate sub-operations to be performed by a multiplier and an adder. The first sub-operation at least multiplies A and B, and conditionally also accumulates C to the partial products of A and B to generate an unrounded nonredundant sum. The unrounded nonredundant sum is stored in memory shared by the multiplier and adder for an indefinite time period, enabling the multiplier and adder to perform other operations unrelated to the multiply-accumulate operation. The second sub-operation conditionally accumulates C to the unrounded nonredundant sum if C is not already incorporated into the value, and then generates a final rounded result.