| NXP Semiconductors | |||||||||||||||||
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Table 4: Reconciliation of GAAP to non-GAAP Segment Results (unaudited)
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| ($ in millions) | Three Months Ended | ||||||||||||||||
| April 3, 2016 | Dec. 31, 2015 | April 5, 2015 | |||||||||||||||
| High Performance Mixed Signal (HPMS) | 1,911 | 1,306 | 1,104 | ||||||||||||||
| Standard Products | 274 | 271 | 323 | ||||||||||||||
| Product Revenue | 2,185 | 1,577 | 1,427 | ||||||||||||||
| Corporate and Other | 39 | 29 | 40 | ||||||||||||||
| Total Revenue | $ | 2,224 | $ | 1,606 | $ | 1,467 | |||||||||||
| HPMS Revenue | $ | 1,911 | $ | 1,306 | $ | 1,104 | |||||||||||
| Percent of Total Revenue | 85.9 | % | 81.3 | % | 75.3 | % | |||||||||||
| HPMS segment GAAP gross profit | 510 | 534 | 597 | ||||||||||||||
| PPA effects | (493 | ) | 1 | ) | (164 | ) | 1 | ) | - | ||||||||
| Restructuring | (3 | ) | (8 | ) | (1 | ) | |||||||||||
| Stock based compensation | (13 | ) | (6 | ) | (1 | ) | |||||||||||
| Other incidentals | - | (1 | ) | - | |||||||||||||
| HPMS segment non-GAAP gross profit | $ | 1,019 | $ | 713 | $ | 599 | |||||||||||
| HPMS segment GAAP gross margin | 26.7 | % | 40.9 | % | 54.1 | % | |||||||||||
| HPMS segment non-GAAP gross margin | 53.3 | % | 54.6 | % | 54.3 | % | |||||||||||
| HPMS segment GAAP operating profit | (486 | ) | 995 | 266 | |||||||||||||
| PPA effects | (847 | ) | 1 | ) | (283 | ) | 1 | ) | (14 | ) | |||||||
| Restructuring | (14 | ) | (195 | ) | 2 | ) | (11 | ) | |||||||||
| Stock based compensation | (92 | ) | (99 | ) | 2 | ) | (28 | ) | |||||||||
| Other incidentals | - | 1,191 | 3 | ) | - | ||||||||||||
| HPMS segment non-GAAP operating profit | $ | 467 | $ | 381 | $ | 319 | |||||||||||
| HPMS segment GAAP operating margin | -25.4 | % | 76.2 | % | 24.1 | % | |||||||||||
| HPMS segment non-GAAP operating margin | 24.4 | % | 29.2 | % | 28.9 | % | |||||||||||
| Standard Products Revenue | $ | 274 | $ | 271 | $ | 323 | |||||||||||
| Percent of Total Revenue | 12.3 | % | 16.9 | % | 22.0 | % | |||||||||||
| Standard Products segment GAAP gross profit | 87 | 90 | 110 | ||||||||||||||
| PPA effects | (1 | ) | (1 | ) | (1 | ) | |||||||||||
| Restructuring | - | (4 | ) | - | |||||||||||||
| Stock based compensation | (1 | ) | (1 | ) | (1 | ) | |||||||||||
| Other incidentals | - | (1 | ) | (1 | ) | ||||||||||||
| Standard Products segment non-GAAP gross profit | $ | 89 | $ | 97 | $ | 113 | |||||||||||
| Standard Products segment GAAP gross margin | 31.8 | % | 33.2 | % | 34.1 | % | |||||||||||
| Standard Products segment non-GAAP gross margin | 32.5 | % | 35.8 | % | 35.0 | % | |||||||||||
| Standard Products segment GAAP operating profit | 39 | 103 | 52 | ||||||||||||||
| PPA effects | (12 | ) | (12 | ) | (14 | ) | |||||||||||
| Restructuring | (1 | ) | (4 | ) | - | ||||||||||||
| Stock based compensation | (7 | ) | (11 | ) | (7 | ) | |||||||||||
| Other incidentals | - | 66 | 3 | ) | (1 | ) | |||||||||||
| Standard Products segment non-GAAP operating profit | $ | 59 | $ | 64 | $ | 74 | |||||||||||
| Standard Products segment GAAP operating margin | 14.2 | % | 38.0 | % | 16.1 | % | |||||||||||
| Standard Products segment non-GAAP operating margin | 21.5 | % | 23.6 | % | 22.9 | % | |||||||||||
| Corporate and Other Revenue | $ | 39 | $ | 29 | $ | 40 | |||||||||||
| Percent of Total Revenue | 1.8 | % | 1.8 | % | 2.7 | % | |||||||||||
| Corporate and Other segment GAAP gross profit | - | (5 | ) | (3 | ) | ||||||||||||
| PPA effects | (2 | ) | (2 | ) | (2 | ) | |||||||||||
| Restructuring | (1 | ) | (1 | ) | - | ||||||||||||
| Stock based compensation | (1 | ) | - | - | |||||||||||||
| Other incidentals | - | 2 | - | ||||||||||||||
| Corporate and Other segment non-GAAP gross profit | $ | 4 | $ | (4 | ) | $ | (1 | ) | |||||||||
| Corporate and Other segment GAAP gross margin | 0.0 | % | -17.2 | % | -7.5 | % | |||||||||||
| Corporate and Other segment non-GAAP gross margin | 10.3 | % | -13.8 | % | -2.5 | % | |||||||||||
| Corporate and Other segment GAAP operating profit | (24 | ) | (85 | ) | (23 | ) | |||||||||||
| PPA effects | (5 | ) | (5 | ) | (5 | ) | |||||||||||
| Restructuring | (5 | ) | (40 | ) | 2 | ) | (1 | ) | |||||||||
| Stock based compensation | - | (1 | ) | - | |||||||||||||
| Merger-related costs | (5 | ) | (27 | ) | (8 | ) | |||||||||||
| Other incidentals | (2 | ) | - | (1 | ) | ||||||||||||
| Corporate and Other segment non-GAAP operating profit | $ | (7 | ) | $ | (12 | ) | $ | (8 | ) | ||||||||
| Corporate and Other segment GAAP operating margin | -61.5 | % | -293.1 | % | -57.5 | % | |||||||||||
| Corporate and Other segment non-GAAP operating margin | -17.9 | % | -41.4 | % | -20.0 | % | |||||||||||
| 1) Includes Purchase Accounting effect on inventory that was fully amortized as of April 3, 2016.
2) Includes severance, contract termination costs and accelerated vesting charges related to the acquisition of Freescale. 3) Includes the recognition of the gain on the sale of the RF Power and Bipolar businesses. | |||||||||||||||||
NXP Semiconductors Reports First Quarter 2016 Results
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