Silicon Laboratories Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) | |||
| |||
| Nine Months Ended | ||
| October 3,
|
| September 28,
|
Operating Activities |
|
|
|
Net income | $ 3,583 |
| $ 9,550 |
Adjustments to reconcile net income to cash provided by operating activities: |
|
|
|
Depreciation of property and equipment | 12,896 |
| 12,675 |
Amortization of other intangible assets and other assets | 32,741 |
| 29,891 |
Amortization of debt discount and debt issuance costs | 14,946 |
| 10,031 |
Loss on extinguishment of convertible debt | 3,977 |
| -- |
Stock-based compensation expense | 44,329 |
| 40,042 |
Deferred income taxes | (7,382) |
| 24,531 |
Changes in operating assets and liabilities: |
|
|
|
Accounts receivable | (2,902) |
| (2,975) |
Inventories | 11,283 |
| 3,512 |
Prepaid expenses and other assets | (6,162) |
| 23,401 |
Accounts payable | 6,103 |
| 6,419 |
Other current liabilities and income taxes | 3,648 |
| (15,602) |
Deferred revenue and returns liability | 2,643 |
| (667) |
Other non-current liabilities | 7,260 |
| (5,957) |
Net cash provided by operating activities | 126,963 |
| 134,851 |
|
|
|
|
Investing Activities |
|
|
|
Purchases of available-for-sale investments | (418,227) |
| (306,645) |
Sales and maturities of available-for-sale investments | 427,235 |
| 268,140 |
Purchases of property and equipment | (15,247) |
| (12,773) |
Purchases of other assets | (1,280) |
| (7,132) |
Acquisition of business, net of cash acquired | (316,809) |
| -- |
Net cash used in investing activities | (324,328) |
| (58,410) |
|
|
|
|
Financing Activities |
|
|
|
Proceeds from issuance of debt | 845,000 |
| -- |
Payments on debt | (618,729) |
| (1,127) |
Repurchases of common stock | (16,287) |
| (26,716) |
Payment of taxes withheld for vested stock awards | (17,562) |
| (15,693) |
Proceeds from the issuance of common stock | 8,155 |
| 7,108 |
Net cash provided by (used in) financing activities | 200,577 |
| (36,428) |
|
|
|
|
Increase in cash and cash equivalents | 3,212 |
| 40,013 |
Cash and cash equivalents at beginning of period | 227,146 |
| 197,043 |
Cash and cash equivalents at end of period | $230,358 |
| $237,056 |