| NXP Semiconductors | ||||||||||||||||||||
| Table 6: Adjusted EBITDA and Free Cash Flow (unaudited) | ||||||||||||||||||||
| ($ in millions) | Three Months Ended | Full Year | ||||||||||||||||||
|
Dec. 31,
2015 |
Oct. 4,
2015 |
Dec. 31,
2014 | 2015 | 2014 | ||||||||||||||||
| Net Income | $ | 989 | $ | 379 | $ | 167 | $ | 1,599 | $ | 607 | ||||||||||
| Reconciling items to EBITDA | ||||||||||||||||||||
| Financial (income) expense | 174 | (16 | ) | 137 | 529 | 410 | ||||||||||||||
| (Benefit) provision for income taxes | (148 | ) | 15 | 9 | (104 | ) | 40 | |||||||||||||
| Depreciation | 89 | 58 | 58 | 262 | 219 | |||||||||||||||
| Amortization | 141 | 36 | 39 | 255 | 186 | |||||||||||||||
| EBITDA | $ | 1,245 | $ | 472 | $ | 410 | $ | 2,541 | $ | 1,462 | ||||||||||
| Reconciling items to adjusted EBITDA | ||||||||||||||||||||
| Results of equity-accounted investees | (2 | ) | (3 | ) | (3 | ) | (9 | ) | (8 | ) | ||||||||||
| Purchase accounting effect on inventory | 149 | - | - | 149 | - | |||||||||||||||
| Restructuring 1) | 239 | 4 | 11 | 264 | 56 | |||||||||||||||
| Stock based compensation | 111 | 34 | 34 | 216 | 133 | |||||||||||||||
| Merger-related costs | 27 | 3 | - | 42 | - | |||||||||||||||
| Other incidental items 1) | (1,254 | ) | 4 | (1 | ) | (1,245 | ) | 7 | ||||||||||||
| Adjusted EBITDA | $ | 515 | $ | 514 | $ | 451 | $ | 1,958 | $ | 1,650 | ||||||||||
| Trailing twelve month adjusted EBITDA | $ | 1,958 | $ | 1,894 | $ | 1,650 | $ | 1,958 | $ | 1,650 | ||||||||||
| 1) Excluding depreciation property, plant and equipment and amortization of software related to: | ||||||||||||||||||||
| Restructuring | - | - | 1 | - | 1 | |||||||||||||||
| Other incidental items | (3 | ) | (3 | ) | - | (8 | ) | 1 | ||||||||||||
| ($ in millions) | Three Months Ended | Full Year | ||||||||||||||||||
|
Dec. 31,
2015 |
Oct. 4,
2015 |
Dec. 31,
2014 | 2015 | 2014 | ||||||||||||||||
| Net cash provided by (used for) operating activities | $ | 271 | $ | 340 | $ | 556 | $ | 1,330 | $ | 1,468 | ||||||||||
| Net capital expenditures on property, plant and equipment | (91 | ) | (74 | ) | (105 | ) | (334 | ) | (325 | ) | ||||||||||
| Non-GAAP free cash flow | $ | 180 | $ | 266 | $ | 451 | $ | 996 | $ | 1,143 | ||||||||||
| Non-GAAP free cash flow as a percent of Revenue | 11 | % | 17 | % | 29 | % | 16 | % | 20 | % | ||||||||||
NXP Semiconductors Reports Fourth Quarter and Full-Year 2015 Results
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