| | | | | | | | |
|
NXP Semiconductors | |
Table 3: Condensed consolidated statement of cash flows (unaudited)
| |
|
|
|
|
|
|
|
|
|
| | | | | | | | |
| | | | | | | | |
| ($ in millions) | |
Three Months Ended | |
| | |
April 2, 2017 | |
December 31, 2016 | |
April 3, 2016 | |
| | | | | | | | |
|
Cash Flows from operating activities | | | | | | | |
|
Net income (loss)
| |
$ |
1,318 | | |
$ |
537 | | |
$ |
(387 |
) | |
| Adjustments to reconcile net income (loss): | | | | | | | |
| Depreciation and amortization | | | 534 | | | | 530 | | | | 529 | | |
| Stock-based compensation | | | 68 | | | | 82 | | | | 99 | | |
| Excess tax benefits from share-based compensation plans | | | - | | | | - | | | | (3 | ) | |
| Amortization of discount on debt | | | 10 | | | | 10 | | | | 8 | | |
| Amortization of debt issuance costs | | | 3 | | | | 4 | | | | 5 | | |
| Net gain on sale of assets | | | (1,597 | ) | | | - | | | | - | | |
| Loss on extinguishment of debt | | | 41 | | | | - | | | | 3 | | |
| Results relating to equity accounted investees | | | (5 | ) | | | (4 | ) | | | (1 | ) | |
| Changes in deferred taxes | | | 25 | | | | (469 | ) | | | (221 | ) | |
|
Changes in operating assets and liabilities: | | | | | | | |
| (Increase) decrease in receivables and other current assets | | | 4 | | | | 67 | | | | - | | |
| (Increase) decrease in inventories | | | (28 | ) | | | 24 | | | | 441 | | |
| Increase (decrease) in accounts payable and accrued liabilities | | 244 | | | | (39 | ) | | | (47 | ) | |
| Decrease (Increase) in other non-current assets | | | (1 | ) | | | 6 | | | | 4 | | |
| Exchange differences | | | 12 | | | | (3 | ) | | | 10 | | |
| Other items | | | (3 | ) | | | (8 | ) | | | (26 | ) | |
|
Net cash provided by (used for) operating activities | | |
625 | | | |
737 | | | |
414 | | |
| | | | | | | | |
|
Cash flows from investing activities: | | | | | | | |
| Purchase of identified intangible assets | | | (24 | ) | | | (25 | ) | | | (18 | ) | |
| Capital expenditures on property, plant and equipment | | | (161 | ) | | | (131 | ) | | | (88 | ) | |
| Purchase of interests in businesses, net of cash acquired | | | - | | | | - | | | | (2 | ) | |
| | | | | | | | | | | | | | |
| Proceeds from sale of interests in businesses, net of cash divested | | | 2,614 | | | | - | | | | - | | |
| Other | | | (1 | ) | | | (1 | ) | | | 2 | | |
|
Net cash provided by (used for) investing activities | | |
2,428 | | | |
(157 |
) | | |
(106 |
) | |
| | | | | | | | |
|
Cash flows from financing activities: | | | | | | | |
| Net (repayments) borrowings of short-term debt | | | - | | | | - | | | | (5 | ) | |
| Repayments under the revolving credit facility | | | - | | | | (200 | ) | | | - | | |
| Repurchase of long-term debt | | | (2,728 | ) | | | - | | | | (204 | ) | |
| Principal payments on long-term debt | | | (4 | ) | | | (9 | ) | | | (14 | ) | |
| Cash proceeds from exercise of stock options | | | 36 | | | | 25 | | | | 45 | | |
| Purchase of treasury shares | | | (26 | ) | | | (62 | ) | | | (266 | ) | |
| Excess tax benefits from share-based compensation plans | | | - | | | | - | | | | 3 | | |
|
Net cash provided by (used for) financing activities | | |
(2,722 |
) | | |
(246 |
) | | |
(441 |
) | |
| | | | | | | | |
| Effect of changes in exchange rates on cash positions | | | 13 | | | | (9 | ) | | | 7 | | |
| Increase (decrease) in cash and cash equivalents | | |
344 | | | |
325 | | | |
(126 |
) | |
| Cash and cash equivalents at beginning of period | | |
1,894 | | | |
1,569 | | | |
1,614 | | |
|
Cash and cash equivalents at end of period | | |
2,238 | | | |
1,894 | | | |
1,488 | | |
|
|
|
|
|
|
|
| |
| | | | | | | | |
|
Net cash paid during the period for: | | | | | | | |
| Interest | | | 53 | | | | 109 | | | | 74 | | |
| Income taxes | | | 56 | | | | 16 | | | | 14 | | |
| | | | | | | | |
