NXP Semiconductors Reports Third Quarter 2015 Results


NXP Semiconductors
Table 3: Condensed consolidated statement of cash flows (unaudited)


($ in millions)	Three Months Ended
	October 4, 2015			July 5, 2015			Sept. 28, 2014

Cash Flows from operating activities
Net income (loss)	$	379		$	321		$	138
Adjustments to reconcile net income (loss):
Depreciation and amortization		94			98			103
Stock-based compensation		34			36			34
Change in fair value of the Warrant liability		(67	)		(18	)		-
Amortization of discount on convertible debt		9			9			-
Net (gain) loss on sale of assets		(4	)		(1	)		(1	)
Results relating to equity accounted investees		(3	)		(1	)		(3	)
Changes in operating assets and liabilities:
(Increase) decrease in trade receivables		(78	)		14			(98	)
(Increase) decrease in inventories		(5	)		(14	)		(6	)
Increase (decrease) in trade payables		(3	)		(20	)		54
(Increase) decrease in other receivables		(17	)		7			18
Increase (decrease) in other payables		(2	)		(53	)		46
Changes in deferred taxes		4			(3	)		(6	)
Exchange differences		(6	)		(40	)		131
Other items		5			16			(13	)
Net cash provided by (used for) operating activities		340			351			397

Cash flows from investing activities:
Purchase of identified intangible assets		(1	)		(4	)		(8	)
Capital expenditures on property, plant and equipment		(78	)		(91	)		(82	)
Proceeds from disposals of property, plant and equipment		4			2			1
Purchase of interests in businesses		-			(2	)		-
Proceeds from sale of interests in businesses		-			1			-
Other		(1	)		-			(1	)
Net cash (used for) provided by investing activities		(76	)		(94	)		(90	)

Cash flows from financing activities:
Net (repayments) borrowings of short-term debt		(1	)		1			(17	)
Repayments under the revolving credit facility		-			-			(50	)
Amounts drawn under the revolving credit facility		-			-			300
Principal payments on long-term debt		(6	)		(8	)		(5	)
Net proceeds from the issuance of long-term debt		-			990			-
Dividends paid to non-controlling interests		(51	)		-			(50	)
Cash proceeds from exercise of stock options		8			9			25
Purchase of treasury shares		(158	)		(162	)		(574	)
Hold-back payments on prior acquisitions		-			(2	)		-
Net cash provided by (used for) financing activities		(208	)		828			(371	)

Effect of changes in exchange rates on cash positions		1			(5	)		(3	)
Increase (decrease) in cash and cash equivalents		57			1,080			(67	)
Cash and cash equivalents at beginning of period		2,435			1,355			661
Cash and cash equivalents at end of period		2,492			2,435			594

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