NXP Semiconductors Reports Third Quarter 2017 Results

 

           
   NXP Semiconductors        
   Table 4: Reconciliation of GAAP to non-GAAP Segment Results (unaudited)      
            
           
  ($ in millions)  Three Months Ended  
     Oct. 1, 2017  July 2, 2017  Oct. 2, 2016  
           
  High Performance Mixed Signal (HPMS)    2,288     2,098     2,099   
  Standard Products    -     -     320   
   Product Revenue     2,288       2,098       2,419    
  Corporate and Other    99     104     50   
   Total Revenue  $     2,387    $     2,202    $     2,469    
           
                  
           
   HPMS Revenue  $     2,288    $     2,098    $     2,099      
    Percent of Total Revenue     95.9 %     95.3 %     85.0 %    
    HPMS segment GAAP gross profit       1,203         1,066         1,059      
    PPA effects       (58 )       (74 )       (63 )    
    Stock based compensation       (7 )       (8 )       (10 )    
    Merger-related costs       (1 )       -         -      
    HPMS segment non-GAAP gross profit   $     1,269     $     1,148     $     1,132      
                     
    HPMS segment GAAP gross margin     52.6 %     50.8 %     50.5 %    
    HPMS segment non-GAAP gross margin     55.5 %     54.7 %     53.9 %    
                     
    HPMS segment GAAP operating profit       235         94         116      
    PPA effects       (425 )       (453 )       (428 )    
    Stock based compensation       (67 )       (67 )       (72 )    
    Merger-related costs       (3 )       (2 )       -      
    HPMS segment non-GAAP operating profit   $     730     $     616     $     616      
                     
    HPMS segment GAAP operating margin     10.3 %     4.5 %     5.5 %    
    HPMS segment non-GAAP operating margin     31.9 %     29.4 %     29.3 %    
                     
                     
    Standard Products Revenue   $     -     $     -     $     320      
    Percent of Total Revenue       -         -       13.0 %    
    Standard   Products segment GAAP gross profit       -         -         123      
    Other incidentals       -         -         14      
    Standard Products segment non-GAAP gross profit   $     -     $     -     $     109      
                     
    Standard Products segment GAAP gross margin       -         -       38.4 %    
    Standard Products segment non-GAAP gross margin       -         -       34.1 %    
                     
    Standard Products segment GAAP operating profit       -         -         85      
    Stock based compensation       -         -         (4 )    
    Other incidentals       -         -         11      
    Standard Products segment non-GAAP operating profit   $     -     $     -     $     78      
                     
    Standard Products segment GAAP operating margin       -         -       26.6 %    
    Standard Products segment non-GAAP operating margin       -         -       24.4 %    
                     
                     
    Corporate and Other Revenue   $     99     $     104     $     50      
    Percent of Total Revenue     4.1 %     4.7 %     2.0 %    
    Corporate and Other segment GAAP gross profit       12         17         2      
    PPA effects       (1 )       (2 )       (1 )    
    Restructuring       (1 )       (1 )       (3 )    
    Stock based compensation       -         1         -      
    Corporate and Other segment non-GAAP gross profit   $     14     $     19     $     6      
                     
    Corporate and Other segment GAAP gross margin     12.1 %     16.3 %     4.0 %    
    Corporate and Other segment non-GAAP gross margin     14.1 %     18.3 %     12.0 %    
                     
    Corporate and Other segment GAAP operating profit       (72 )       (44 )       (27 )    
    PPA effects       (1 )       (2 )       (4 )    
    Restructuring        (7 )       (2 )       (3 )    
    Stock based compensation       (1 )       -         (1 )    
    Merger-related costs       (39 )       (33 )       (14 )    
    Other incidentals       (29 )       (16 )       (2 )    
    Corporate and Other segment non-GAAP operating profit   $     5     $     9     $     (3 )    
                     
    Corporate and Other segment GAAP operating margin     -72.7 %     -42.3 %     -54.0 %    
    Corporate and Other segment non-GAAP operating margin        5.1 %     8.7 %     -6.0 %    
                     
                     

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