NXP Semiconductors
Table 3: Condensed consolidated statement of cash flows (unaudited)
| ($ in millions) | Three months ended | ||||||||||
| July 2, 2023 | April 2, 2023 | July 3, 2022 | |||||||||
| Cash flows from operating activities: | |||||||||||
| Net income (loss) | $ | 704 | $ | 623 | $ | 683 | |||||
| Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: | |||||||||||
| Depreciation and amortization | 281 | 283 | 317 | ||||||||
| Share-based compensation | 102 | 99 | 89 | ||||||||
| Amortization of discount (premium) on debt, net | — | 1 | — | ||||||||
| Amortization of debt issuance costs | 2 | 2 | 1 | ||||||||
| Net (gain) loss on sale of assets | (1 | ) | — | — | |||||||
| (Gain) loss on extinguishment of debt | — | — | 18 | ||||||||
| Results relating to equity-accounted investees | 1 | 2 | 3 | ||||||||
| (Gain) loss on equity securities, net | (6 | ) | 1 | 8 | |||||||
| Deferred tax expense (benefit) | (75 | ) | (62 | ) | (65 | ) | |||||
| Changes in operating assets and liabilities: | |||||||||||
| (Increase) decrease in receivables and other current assets | (20 | ) | (138 | ) | (50 | ) | |||||
| (Increase) decrease in inventories | (129 | ) | (196 | ) | (151 | ) | |||||
| Increase (decrease) in accounts payable and other liabilities | (144 | ) | 52 | 4 | |||||||
| (Increase) decrease in other non-current assets | 33 | (33 | ) | (41 | ) | ||||||
| Exchange differences | 5 | 5 | (3 | ) | |||||||
| Other items | 3 | (7 | ) | 6 | |||||||
| Net cash provided by (used for) operating activities | 756 | 632 | 819 | ||||||||
| Cash flows from investing activities: | |||||||||||
| Purchase of identified intangible assets | (51 | ) | (42 | ) | (29 | ) | |||||
| Capital expenditures on property, plant and equipment | (201 | ) | (251 | ) | (268 | ) | |||||
| Proceeds from the disposals of property, plant and equipment | 1 | — | — | ||||||||
| Purchase of interests in businesses, net of cash acquired | — | — | (1 | ) | |||||||
| Purchase of investments | (4 | ) | (58 | ) | (2 | ) | |||||
| Proceeds from the sale of investments | — | — | 12 | ||||||||
| Net cash provided by (used for) investing activities | (255 | ) | (351 | ) | (288 | ) | |||||
| Cash flows from financing activities: | |||||||||||
| Repurchase of long-term debt | — | — | (917 | ) | |||||||
| Proceeds from the issuance of long-term debt | — | — | 1,496 | ||||||||
| Cash paid for debt issuance costs | — | — | (12 | ) | |||||||
| Dividends paid to common stockholders | (264 | ) | (219 | ) | (222 | ) | |||||
| Proceeds from issuance of common stock through stock plans | 1 | 33 | — | ||||||||
| Purchase of treasury shares and restricted stock unit
withholdings | (302 | ) | (11 | ) | (2 | ) | |||||
| Other, net | — | (1 | ) | (1 | ) | ||||||
| Net cash provided by (used for) financing activities | (565 | ) | (198 | ) | 342 | ||||||
| Effect of changes in exchange rates on cash positions | (3 | ) | 2 | (11 | ) | ||||||
| Increase (decrease) in cash and cash equivalents | (67 | ) | 85 | 862 | |||||||
| Cash and cash equivalents at beginning of period | 3,930 | 3,845 | 2,683 | ||||||||
| Cash and cash equivalents at end of period | 3,863 | 3,930 | 3,545 | ||||||||
| Net cash paid during the period for: | |||||||||||
| Interest | 86 | 54 | 133 | ||||||||
| Income taxes, net of refunds | 239 | 294 | 150 | ||||||||
| Net gain (loss) on sale of assets: | |||||||||||
| Cash proceeds from the sale of assets | 1 | — | — | ||||||||
| Non-cash investing activities: | |||||||||||
| Non-cash capital expenditures | 165 | 176 | 243 | ||||||||
