| NXP Semiconductors | |||||||||||||
| Table 3: Condensed consolidated statement of cash flows (unaudited) | |||||||||||||
| ($ in millions) | Three Months Ended | ||||||||||||
| April 3, 2016 | Dec. 31, 2015 | April 5, 2015 | |||||||||||
| Cash Flows from operating activities | |||||||||||||
| Net income (loss) | $ | (387 | ) | $ | 989 | $ | (90 | ) | |||||
| Adjustments to reconcile net income (loss): | |||||||||||||
| Depreciation and amortization | 529 | 230 | 95 | ||||||||||
| Stock-based compensation | 99 | 111 | 35 | ||||||||||
| Excess tax benefits from share-based compensation plans | (3 | ) | - | - | |||||||||
| Change in fair value of warrant liability | - | 1 | 115 | ||||||||||
| Amortization of discount on debt | 8 | 11 | 10 | ||||||||||
| Amortization of debt issuance costs | 5 | 11 | - | ||||||||||
| Net (gain) loss on sale of assets | - | (1,258 | ) | - | |||||||||
| Results relating to equity accounted investees | (1 | ) | (2 | ) | (3 | ) | |||||||
| Changes in deferred taxes | (221 | ) | (174 | ) | 5 | ||||||||
| Changes in operating assets and liabilities: | |||||||||||||
| (Increase) decrease in receivables and other current assets | - | 71 | (64 | ) | |||||||||
| (Increase) decrease in inventories | 441 | 154 | (53 | ) | |||||||||
| Increase (decrease) in accounts payable and accrued liabilities | (47 | ) | 95 | 110 | |||||||||
| Decrease (Increase) in other non-current assets | 4 | 9 | 10 | ||||||||||
| Exchange differences | 10 | 31 | 208 | ||||||||||
| Other items | (23 | ) | (8 | ) | (10 | ) | |||||||
| Net cash provided by (used for) operating activities | 414 | 271 | 368 | ||||||||||
| Cash flows from investing activities: | |||||||||||||
| Purchase of identified intangible assets | (18 | ) | (5 | ) | (2 | ) | |||||||
| Capital expenditures on property, plant and equipment | (88 | ) | (92 | ) | (80 | ) | |||||||
| Proceeds from disposals of property, plant and equipment | - | 1 | - | ||||||||||
| Purchase of interests in businesses, net of cash acquired | (2 | ) | (1,587 | ) | (103 | ) | |||||||
| Proceeds from sale of interests in businesses | - | 1,604 | - | ||||||||||
| Proceeds from return of equity investment | - | - | 1 | ||||||||||
| Other | 2 | 2 | 1 | ||||||||||
| Net cash provided by (used for) investing activities | (106 | ) | (77 | ) | (183 | ) | |||||||
| Cash flows from financing activities: | |||||||||||||
| Net (repayments) borrowings of short-term debt | (5 | ) | (1 | ) | (1 | ) | |||||||
| Repurchase of long-term debt | (204 | ) | (3,586 | ) | - | ||||||||
| Principal payments on long-term debt | (14 | ) | (8 | ) | (10 | ) | |||||||
| Proceeds from the issuance of long-term debt | - | 2,680 | - | ||||||||||
| Cash paid for debt issuance costs | - | (22 | ) | - | |||||||||
| Cash proceeds from exercise of stock options | 45 | 18 | 16 | ||||||||||
| Purchase of treasury shares | (266 | ) | (151 | ) | (4 | ) | |||||||
| Excess tax benefits from share-based compensation plans | 3 | - | - | ||||||||||
| Net cash provided by (used for) financing activities | (441 | ) | (1,070 | ) | 1 | ||||||||
| Effect of changes in exchange rates on cash positions | 7 | (2 | ) | (16 | ) | ||||||||
| Increase (decrease) in cash and cash equivalents | (126 | ) | (878 | ) | 170 | ||||||||
| Cash and cash equivalents at beginning of period | 1,614 | 2,492 | 1,185 | ||||||||||
| Cash and cash equivalents at end of period | 1,488 | 1,614 | 1,355 | ||||||||||
NXP Semiconductors Reports First Quarter 2016 Results
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