Silicon Laboratories Inc. | |||
Condensed Consolidated Statements of Cash Flows | |||
(In thousands) | |||
(Unaudited) | |||
| |||
| Three Months Ended | ||
| April 1,
|
| April 2,
|
Operating Activities |
|
|
|
Net income | $ 13,967 |
| $ 22,907 |
Adjustments to reconcile net income to cash provided by (used in) operating activities of continuing operations: |
|
|
|
Depreciation of property and equipment | 6,235 |
| 5,156 |
Amortization of other intangible assets | 6,510 |
| 10,351 |
Amortization of debt issuance costs | 523 |
| 496 |
Stock-based compensation expense | 16,638 |
| 12,875 |
Equity-method earnings (loss) | 1,033 |
| (1,194) |
Deferred income taxes | (2,670) |
| (4,202) |
Changes in operating assets and liabilities: |
|
|
|
Accounts receivable | (16,257) |
| 19,080 |
Inventories | (32,794) |
| (6,215) |
Prepaid expenses and other assets | 11,530 |
| 1,704 |
Accounts payable | (12,966) |
| 8,932 |
Other current liabilities and income taxes | (8,529) |
| 8,345 |
Deferred revenue and returns liability | 4,478 |
| 7,791 |
Other non-current liabilities | (978) |
| (817) |
Net cash provided by (used in) operating activities of continuing operations | (13,280) |
| 85,209 |
|
|
|
|
Investing Activities |
|
|
|
Purchases of marketable securities | (66,113) |
| (435,690) |
Sales of marketable securities | 170,317 |
| 9,106 |
Maturities of marketable securities | 157,734 |
| 213,750 |
Purchases of property and equipment | (7,657) |
| (4,554) |
Net cash provided by (used in) investing activities of continuing operations | 254,281 |
| (217,388) |
|
|
|
|
Financing Activities |
|
|
|
Repurchases of common stock | (17,608) |
| (157,778) |
Payment of taxes withheld for vested stock awards | (6,931) |
| (8,755) |
Net cash used in financing activities of continuing operations | (24,539) |
| (166,533) |
|
|
|
|
Discontinued Operations |
|
|
|
Operating activities | -- |
| (10,000) |
Net cash used in discontinued operations | -- |
| (10,000) |
|
|
|
|
Increase (decrease) in cash and cash equivalents | 216,462 |
| (308,712) |
Cash and cash equivalents at beginning of period | 499,915 |
| 1,074,623 |
Cash and cash equivalents at end of period | $716,377 |
| $ 765,911 |