Freescale Semiconductor Announces First Quarter 2015 Results


Freescale Semiconductor, Ltd.
EBITDA, Adjusted EBITDA, Free Cash Flow and Adjusted Cash Flows from Operating Activities Reconciliations
(Unaudited)

	Three Months Ended
(in millions)	Apr 3, 2015		Dec 31, 2014		Apr 4, 2014

EBITDA excluding the effects of other items	$	294	$	274	$	244
Non-cash share-based compensation expense (b)		24		17		17
Loss on extinguishment or modification of long-term debt (e)		21		10		59
Reorganization of business, merger expenses and other (c)		26		12		11
EBITDA		223		235		157
Depreciation		43		44		43
Amortization*		22		22		19
Interest expense, net		78		78		102
Income tax expense		10		28		16
Net earnings (loss)	$	70	$	63	$	(23	)



	Twelve Months Ended Apr 3, 2015
(in millions)

Net earnings	$	344
Interest expense, net		319
Income tax expense		47
Depreciation and amortization expense*		260
Non-cash share-based compensation expense (b)		74
Loss on extinguishment or modification of long-term debt (e)		41
Reorganization of business, merger expenses and other (c)		52
Other terms (g)		8
Adjusted EBITDA	$	1,145

*Excludes amortization of debt issuance costs, which are included in interest expense, net.

(in millions)	Apr 3, 2015		Dec 31, 2014		Apr 4, 2014

Free cash flow	$	101	$	92	$	(26	)
Purchases of property, plant and equipment		50		74		56
Adjusted cash flows from operating activities		151		166		30
Excess tax benefits from share-based compensation (h)		17		2		4
Cash flows from operating activities	$	134	$	164	$	26

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