Silicon Laboratories Inc. | |||
Condensed Consolidated Statements of Cash Flows | |||
(In thousands) | |||
(Unaudited) | |||
| |||
| Year Ended | ||
| December 31,
|
| January 1,
|
Operating Activities |
|
|
|
Net income | $ 91,402 |
| $2,117,399 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities of continuing operations: |
|
|
|
Income from discontinued operations, net of income taxes | -- |
| (2,175,273) |
Depreciation of property and equipment | 22,524 |
| 18,051 |
Amortization of other intangible assets | 34,071 |
| 44,505 |
Amortization of debt discount and debt issuance costs | 2,003 |
| 22,767 |
Loss on extinguishment of convertible debt | 3 |
| 3,370 |
Stock-based compensation expense | 60,510 |
| 56,842 |
Equity-method earnings | (3,400) |
| (13,728) |
Deferred income taxes | (18,240) |
| (3,414) |
Changes in operating assets and liabilities: |
|
|
|
Accounts receivable | 26,876 |
| (3,144) |
Inventories | (51,044) |
| (1,510) |
Prepaid expenses and other assets | (31,240) |
| 44,664 |
Accounts payable | 36,797 |
| (7,704) |
Other current liabilities and income taxes | (12,738) |
| 2,109 |
Deferred revenue and returns liability | (7,069) |
| 863 |
Other non-current liabilities | (9,181) |
| (14,599) |
Net cash provided by operating activities of continuing operations | 141,274 |
| 91,198 |
|
|
|
|
Investing Activities |
|
|
|
Purchases of marketable securities | (607,237) |
| (1,541,971) |
Sales of marketable securities | 223,354 |
| 250,075 |
Maturities of marketable securities | 650,946 |
| 844,966 |
Purchases of property and equipment | (26,525) |
| (28,577) |
Purchases of other assets | -- |
| (1,158) |
Net cash provided by (used in) investing activities of continuing operations | 240,538 |
| (476,665) |
|
|
|
|
Financing Activities |
|
|
|
Payments on debt | (21) |
| (140,572) |
Repurchases of common stock | (883,424) |
| (1,150,044) |
Payment of taxes withheld for vested stock awards | (15,387) |
| (22,239) |
Proceeds from the issuance of common stock | 11,779 |
| 14,183 |
Net cash used in financing activities of continuing operations | (887,053) |
| (1,298,672) |
|
|
|
|
Discontinued Operations |
|
|
|
Operating activities | (69,467) |
| (191,642) |
Investing activities | -- |
| 2,747,684 |
Net cash provided by (used in) discontinued operations | (69,467) |
| 2,556,042 |
|
|
|
|
Increase (decrease) in cash and cash equivalents | (574,708) |
| 871,903 |
Cash and cash equivalents at beginning of period | 1,074,623 |
| 202,720 |
Cash and cash equivalents at end of period | $ 499,915 |
| $1,074,623 |