NXP Semiconductors Reports Third Quarter 2015 Results


NXP Semiconductors
Table 4: Reconciliation of GAAP to non-GAAP segment results (unaudited)


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

High Performance Mixed Signal (HPMS)		1,164			1,146			1,139
Standard Products		325			322			333
Product Revenue		1,489			1,468			1,472
Corporate and Other		33			38			43
Total Revenue	$	1,522		$	1,506		$	1,515



HPMS Revenue	$	1,164		$	1,146		$	1,139
Percent of Total Revenue		76.5	%		76.1	%		75.2	%
HPMS segment GAAP gross profit		626			610			605
PPA effects		(1	)		(1	)		-
Stock based compensation		(2	)		(3	)		(1	)
Other incidentals		1			(1	)		(1	)
HPMS segment non-GAAP gross profit	$	628		$	615		$	607

HPMS segment GAAP gross margin		53.8	%		53.2	%		53.1	%
HPMS segment non-GAAP gross margin		54.0	%		53.7	%		53.3	%

HPMS segment GAAP operating profit		331			293			274
PPA effects		(14	)		(18	)		(22	)
Restructuring		1			(6	)		-
Stock based compensation		(28	)		(29	)		(26	)
Other incidentals		1			(1	)		(1	)
HPMS segment non-GAAP operating profit	$	371		$	347		$	323

HPMS segment GAAP operating margin		28.4	%		25.6	%		24.1	%
HPMS segment non-GAAP operating margin		31.9	%		30.3	%		28.4	%



Standard Products Revenue	$	325		$	322		$	333
Percent of Total Revenue		21.4	%		21.4	%		22.0	%
Standard Products segment GAAP gross profit		108			109			103
PPA effects		-			(1	)		(1	)
Restructuring		(4	)		(1	)		(6	)
Stock based compensation		(1	)		-			(1	)
Other incidentals		(2	)		(2	)		(1	)
Standard Products segment non-GAAP gross profit	$	115		$	113		$	112

Standard Products segment GAAP gross margin		33.2	%		33.9	%		30.9	%
Standard Products segment non-GAAP gross margin		35.4	%		35.1	%		33.6	%

Standard Products segment GAAP operating profit		56			53			38
PPA effects		(12	)		(12	)		(15	)
Restructuring		(4	)		(1	)		(7	)
Stock based compensation		(6	)		(7	)		(8	)
Other incidentals		(2	)		(2	)		(1	)
Standard Products segment non-GAAP operating profit	$	80		$	75		$	69

Standard Products segment GAAP operating margin		17.2	%		16.5	%		11.4	%
Standard Products segment non-GAAP operating margin		24.6	%		23.3	%		20.7	%



Corporate and Other Revenue	$	33		$	38		$	43
Percent of Total Revenue		2.1	%		2.5	%		2.8	%
Corporate and Other segment GAAP gross profit		6			5			5
PPA effects		(2	)		(3	)		(2	)
Restructuring		-			1			1
Other incidentals		3			1			-
Corporate and Other segment non-GAAP gross profit	$	5		$	6		$	6

Corporate and Other segment GAAP gross margin		18.2	%		13.2	%		11.6	%
Corporate and Other segment non-GAAP gross margin		15.2	%		15.8	%		14.0	%

Corporate and Other segment GAAP operating profit		(12	)		(14	)		(5	)
PPA effects		(6	)		(6	)		(5	)
Restructuring		(1	)		(2	)		1
Other incidentals		(3	)		(2	)		1
Corporate and Other segment non-GAAP operating profit	$	(2	)	$	(4	)	$	(2	)

Corporate and Other segment GAAP operating margin		-36.4	%		-36.8	%		-11.6	%
Corporate and Other segment non-GAAP operating margin		-6.1	%		-10.5	%		-4.7	%

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