| NXP Semiconductors | ||||||||||||||||||||
| Table 4: Reconciliation of GAAP to non-GAAP Segment Results (unaudited) | ||||||||||||||||||||
| ($ in millions) | Three Months Ended | |||||||||||||||||||
| July 3, 2016 | April 3, 2016 | July 5, 2015 | ||||||||||||||||||
| High Performance Mixed Signal (HPMS) | 2,014 | 1,911 | 1,146 | |||||||||||||||||
| Standard Products | 303 | 274 | 322 | |||||||||||||||||
| Product Revenue | 2,317 | 2,185 | 1,468 | |||||||||||||||||
| Corporate and Other | 48 | 39 | 38 | |||||||||||||||||
| Total Revenue | $ | 2,365 | $ | 2,224 | $ | 1,506 | ||||||||||||||
| HPMS Revenue | $ | 2,014 | $ | 1,911 | $ | 1,146 | ||||||||||||||
| Percent of Total Revenue | 85.2 | % | 85.9 | % | 76.1 | % | ||||||||||||||
| HPMS segment GAAP gross profit | 998 | 510 | 610 | |||||||||||||||||
| PPA effects | (64 | ) | (493 | ) | 1
| )
| (1 | ) | ||||||||||||
| Restructuring | (10 | ) | (3 | ) | - | |||||||||||||||
| Stock based compensation | (9 | ) | (13 | ) | (3 | ) | ||||||||||||||
| Other incidentals | - | - | (1 | ) | ||||||||||||||||
| HPMS segment non-GAAP gross profit | $ | 1,081 | $ | 1,019 | $ | 615 | ||||||||||||||
| HPMS segment GAAP gross margin | 49.6 | % | 26.7 | % | 53.2 | % | ||||||||||||||
| HPMS segment non-GAAP gross margin | 53.7 | % | 53.3 | % | 53.7 | % | ||||||||||||||
| HPMS segment GAAP operating profit | (56 | ) | (486 | ) | 293 | |||||||||||||||
| PPA effects | (501 | ) | (847 | ) | 1 | ) | (18 | ) | ||||||||||||
| Restructuring | (39 | ) | (14 | ) | (6 | ) | ||||||||||||||
| Stock based compensation | (73 | ) | (92 | ) | (29 | ) | ||||||||||||||
| Other incidentals | 13 | - | (1 | ) | ||||||||||||||||
| HPMS segment non-GAAP operating profit | $ | 544 | $ | 467 | $ | 347 | ||||||||||||||
| HPMS segment GAAP operating margin | -2.8 | % | -25.4 | % | 25.6 | % | ||||||||||||||
| HPMS segment non-GAAP operating margin | 27.0 | % | 24.4 | % | 30.3 | % | ||||||||||||||
| Standard Products Revenue | $ | 303 | $ | 274 | $ | 322 | ||||||||||||||
| Percent of Total Revenue | 12.8 | % | 12.3 | % | 21.4 | % | ||||||||||||||
| Standard Products segment GAAP gross profit | 97 | 87 | 109 | |||||||||||||||||
| PPA effects | - | (1 | ) | (1 | ) | |||||||||||||||
| Restructuring | - | - | (1 | ) | ||||||||||||||||
| Stock based compensation | (2 | ) | (1 | ) | - | |||||||||||||||
| Other incidentals | - | - | (2 | ) | ||||||||||||||||
| Standard Products segment non-GAAP gross profit | $ | 99 | $ | 89 | $ | 113 | ||||||||||||||
| Standard Products segment GAAP gross margin | 32.0 | % | 31.8 | % | 33.9 | % | ||||||||||||||
| Standard Products segment non-GAAP gross margin | 32.7 | % | 32.5 | % | 35.1 | % | ||||||||||||||
| Standard Products segment GAAP operating profit | 52 | 39 | 53 | |||||||||||||||||
| PPA effects | (8 | ) | (12 | ) | (12 | ) | ||||||||||||||
| Restructuring | - | (1 | ) | (1 | ) | |||||||||||||||
| Stock based compensation | (6 | ) | (7 | ) | (7 | ) | ||||||||||||||
| Other incidentals | (3 | ) | - | (2 | ) | |||||||||||||||
| Standard Products segment non-GAAP operating profit | $ | 69 | $ | 59 | $ | 75 | ||||||||||||||
| Standard Products segment GAAP operating margin | 17.2 | % | 14.2 | % | 16.5 | % | ||||||||||||||
| Standard Products segment non-GAAP operating margin | 22.8 | % | 21.5 | % | 23.3 | % | ||||||||||||||
| Corporate and Other Revenue | $ | 48 | $ | 39 | $ | 38 | ||||||||||||||
| Percent of Total Revenue | 2.0 | % | 1.8 | % | 2.5 | % | ||||||||||||||
| Corporate and Other segment GAAP gross profit | 4 | - | 5 | |||||||||||||||||
| PPA effects | (2 | ) | (2 | ) | (3 | ) | ||||||||||||||
| Restructuring | - | (1 | ) | 1 | ||||||||||||||||
| Stock based compensation | (1 | ) | (1 | ) | - | |||||||||||||||
| Other incidentals | 4 | - | 1 | |||||||||||||||||
| Corporate and Other segment non-GAAP gross profit | $ | 3 | $ | 4 | $ | 6 | ||||||||||||||
| Corporate and Other segment GAAP gross margin | 8.3 | % | 0.0 | % | 13.2 | % | ||||||||||||||
| Corporate and Other segment non-GAAP gross margin | 6.3 | % | 10.3 | % | 15.8 | % | ||||||||||||||
| Corporate and Other segment GAAP operating profit | (22 | ) | (24 | ) | (14 | ) | ||||||||||||||
| PPA effects | (5 | ) | (5 | ) | (6 | ) | ||||||||||||||
| Restructuring | (1 | ) | (5 | ) | (2 | ) | ||||||||||||||
| Stock based compensation | (1 | ) | - | - | ||||||||||||||||
| Merger-related costs | (11 | ) | (5 | ) | (4 | ) | ||||||||||||||
| Other incidentals | 3 | (2 | ) | 2 | ||||||||||||||||
| Corporate and Other segment non-GAAP operating profit | $ | (7 | ) | $ | (7 | ) | $ | (4 | ) | |||||||||||
| Corporate and Other segment GAAP operating margin | -45.8 | % | -61.5 | % | -36.8 | % | ||||||||||||||
| Corporate and Other segment non-GAAP operating margin | -14.6 | % | -17.9 | % | -10.5 | % | ||||||||||||||
| 1) Includes Purchase Accounting effect on inventory that was fully amortized as of April 3, 2016. | ||||||||||||||||||||
NXP Semiconductors Reports Second Quarter 2016 Results
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