NXP Semiconductors Reports Second Quarter 2017 Results

	NXP Semiconductors
	Table 5: Financial Reconciliation of GAAP to non-GAAP Results (unaudited)



	($ in millions except share data)	Three Months Ended
		July2, 2017			April 2, 2017					July 3, 2016

	Revenue	$	2,202		$	2,211				$	2,365

	GAAP Gross profit	$	1,083		$	1,079				$	1,099
	PPA effects		(76	)		(59	)				(66	)
	Restructuring		(1	)		(1	)				(10	)
	Stock Based Compensation		(7	)		(9	)				(12	)
	Other incidentals		-			4					4
	Non-GAAP Gross profit	$	1,167		$	1,144				$	1,183

	GAAP Gross margin		49.2	%		48.8	%				46.5	%

	Non-GAAP Gross margin		53.0	%		51.7	%				50.0	%

	GAAP Research and development	$	(381	)	$	(367	)			$	(416	)
	Restructuring		-			12					(32	)
	Stock based compensation		(28	)		(29	)				(30	)
	Merger-related costs		-			(1	)				-
	Other incidentals		-			-					1
	Non-GAAP Research and development	$	(353	)	$	(349	)			$	(355	)

	GAAP Selling, general and administrative	$	(263	)	$	(266	)			$	(283	)
	PPA effects		(6	)		(6	)				(9	)
	Restructuring		(1	)		(3	)				2
	Stock based compensation		(32	)		(30	)				(38	)
	Merger-related costs		(35	)		(29	)				(11	)
	Other incidentals		(1	)		-					(5	)
	Non-GAAP Selling, general and administrative	$	(188	)	$	(198	)			$	(222	)

	GAAP amortization of acquisition-related intangible assets	$	(373	)	$	(365	)			$	(436	)
	PPA effects		(373	)		(365	)				(436	)
	Non-GAAP amortization of acquisition-related intangible assets	$	-		$	-				$	-

	GAAP Other income (expense)	$	(16	)	$	1,598				$	10
	PPA effects		-			-					(3	)
	Other incidentals		(15	)		1,596		¹	⁾		13
	Non-GAAP Other income (expense)	$	(1	)	$	2				$	-

	GAAP Operating income (loss)	$	50		$	1,679				$	(26	)
	PPA effects		(455	)		(430	)				(514	)
	Restructuring		(2	)		8					(40	)
	Stock based compensation		(67	)		(68	)				(80	)
	Merger-related costs		(35	)		(30	)				(11	)
	Other incidentals		(16	)		1,600		¹	⁾		13
	Non-GAAP Operating income (loss)	$	625		$	599				$	606

	GAAP Operating margin		2.3	%		75.9	%				-1.1	%

	Non-GAAP Operating margin		28.4	%		27.1	%				25.6	%

	GAAP Financial income (expense)	$	(75	)	$	(136	)			$	(126	)
	PPA effects		-			-					3
	Non-cash interest expense on convertible notes		(10	)		(10	)				(10	)
	Foreign exchange gain (loss)		(3	)		(5	)				(2	)
	Extinguishment on debt		-			(41	)				(23	)
	Changes in fair value of warrant liability		-			-					-
	Other financial expense		(3	)		(5	)				(6	)
	Non-GAAP Financial income (expense)	$	(59	)	$	(75	)			$	(88	)


¹⁾ Adjustment relates primarily to the gain on the sale of the SP business on February 6, 2017.

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