Silicon Laboratories Inc. | ||||
Condensed Consolidated Statements of Cash Flows | ||||
(In thousands) | ||||
(Unaudited) | ||||
| ||||
| Three Months Ended | |||
| April 3,
|
| April 4,
|
|
Operating Activities |
|
|
|
|
Net income | $ 13,509 |
| $ 2,244 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
Depreciation of property and equipment | 4,529 |
| 4,183 |
|
Amortization of other intangible assets and other assets | 11,705 |
| 9,827 |
|
Amortization of debt discount and debt issuance costs | 6,456 |
| 3,736 |
|
Loss on extinguishment of convertible debt | 3,370 |
| -- |
|
Stock-based compensation expense | 13,826 |
| 15,313 |
|
Deferred income taxes | (3,197) |
| (2,364) |
|
Changes in operating assets and liabilities: |
|
|
|
|
Accounts receivable | (8,530) |
| 1,542 |
|
Inventories | (12,626) |
| 4,777 |
|
Prepaid expenses and other assets | (13,621) |
| 23,576 |
|
Accounts payable | 14,116 |
| 2,748 |
|
Other current liabilities and income taxes | (13,429) |
| (9,134) |
|
Deferred revenue and returns liability | 464 |
| 4,114 |
|
Other non-current liabilities | (2,066) |
| (862) |
|
Net cash provided by operating activities | 14,506 |
| 59,700 |
|
|
|
|
|
|
Investing Activities |
|
|
|
|
Purchases of available-for-sale investments | (8,251) |
| (70,910) |
|
Sales and maturities of available-for-sale investments | 161,392 |
| 126,920 |
|
Purchases of property and equipment | (6,176) |
| (4,135) |
|
Purchases of other assets | (578) |
| (370) |
|
Net cash provided by investing activities | 146,387 |
| 51,505 |
|
|
|
|
|
|
Financing Activities |
|
|
|
|
Proceeds from revolving line of credit | -- |
| 310,000 |
|
Payments on debt | (140,572) |
| -- |
|
Repurchases of common stock | -- |
| (16,287) |
|
Payment of taxes withheld for vested stock awards | (17,817) |
| (16,294) |
|
Net cash provided by (used in) financing activities | (158,389) |
| 277,419 |
|
|
|
|
|
|
Increase in cash and cash equivalents | 2,504 |
| 388,624 |
|
Cash and cash equivalents at beginning of period | 202,720 |
| 227,146 |
|
Cash and cash equivalents at end of period | $205,224 |
| $615,770 |
|