| NXP Semiconductors | |||||||||||||||
| Table 3: Condensed consolidated statement of cash flows (unaudited) | |||||||||||||||
| ($ in millions) | Three Months Ended | ||||||||||||||
|
October 2,
2016 | July 3, 2016 |
October 4,
2015 | |||||||||||||
| Cash Flows from operating activities | |||||||||||||||
| Net income (loss) | $ | 108 | $ | 1 | $ | 379 | |||||||||
| Adjustments to reconcile net income (loss): | |||||||||||||||
| Depreciation and amortization | 526 | 620 | 94 | ||||||||||||
| Stock-based compensation | 77 | 80 | 34 | ||||||||||||
| Excess tax benefits from share-based compensation plans | (1 | ) | (1 | ) | - | ||||||||||
| Change in fair value of warrant liability | - | - | (67 | ) | |||||||||||
| Amortization of discount on debt | 9 | 7 | 9 | ||||||||||||
| Amortization of debt issuance costs | 3 | 4 | - | ||||||||||||
| Net (gain) loss on sale of assets | - | (11 | ) | (4 | ) | ||||||||||
| Loss (gain) on extinguishment of debt | 6 | 23 | - | ||||||||||||
| Results relating to equity accounted investees | (5 | ) | (1 | ) | (3 | ) | |||||||||
| Changes in deferred taxes | (64 | ) | (171 | ) | 4 | ||||||||||
| Changes in operating assets and liabilities: | |||||||||||||||
| (Increase) decrease in receivables and other current assets | (57 | ) | (61 | ) | (96 | ) | |||||||||
| (Increase) decrease in inventories | 57 | 46 | (5 | ) | |||||||||||
| Increase (decrease) in accounts payable and accrued liabilities | 50 | (120 | ) | (5 | ) | ||||||||||
| Decrease (Increase) in other non-current assets | (4 | ) | (1 | ) | 1 | ||||||||||
| Exchange differences | 4 | 4 | (6 | ) | |||||||||||
| Other items | 9 | 15 | 5 | ||||||||||||
| Net cash provided by (used for) operating activities | 718 | 434 | 340 | ||||||||||||
| Cash flows from investing activities: | |||||||||||||||
| Purchase of identified intangible assets | (9 | ) | (7 | ) | (1 | ) | |||||||||
| Capital expenditures on property, plant and equipment | (99 | ) | (71 | ) | (78 | ) | |||||||||
| Proceeds from disposals of property, plant and equipment | 1 | - | 4 | ||||||||||||
| Purchase of businesses | (200 | ) | - | - | |||||||||||
| Proceeds from sale of interests in businesses | 2 | 18 | - | ||||||||||||
| Other | - | 1 | (1 | ) | |||||||||||
| Net cash provided by (used for) investing activities | (305 | ) | (59 | ) | (76 | ) | |||||||||
| Cash flows from financing activities: | |||||||||||||||
| Net (repayments) borrowings of short-term debt | - | (1 | ) | (1 | ) | ||||||||||
| Amounts drawn under the revolving credit facility | 200 | - | - | ||||||||||||
| Repurchase of long-term debt | (1,219 | ) | (1,872 | ) | - | ||||||||||
| Principal payments on long-term debt | (7 | ) | (8 | ) | (6 | ) | |||||||||
| Proceeds from the issuance of long-term debt | 1,509 | 1,750 | - | ||||||||||||
| Cash paid for debt issuance costs | (12 | ) | (14 | ) | - | ||||||||||
| Dividends paid to non-controlling interests | (126 | ) | - | (51 | ) | ||||||||||
| Cash proceeds from exercise of stock options | 18 | 27 | 8 | ||||||||||||
| Purchase of treasury shares | (555 | ) | (397 | ) | (158 | ) | |||||||||
| Excess tax benefits from share-based compensation plans | 1 | 1 | - | ||||||||||||
| Net cash provided by (used for) financing activities | (191 | ) | (514 | ) | (208 | ) | |||||||||
| Effect of changes in exchange rates on cash positions | 12 | (14 | ) | 1 | |||||||||||
| Increase (decrease) in cash and cash equivalents | 234 | (153 | ) | 57 | |||||||||||
| Cash and cash equivalents at beginning of period | 1,335 | 1,488 | 2,435 | ||||||||||||
| Cash and cash equivalents at end of period | 1,569 | 1,335 | 2,492 | ||||||||||||
| Net cash paid during the period for: | |||||||||||||||
| Interest | 57 | 108 | 42 | ||||||||||||
| Income taxes | 19 | 18 | 7 | ||||||||||||
NXP Semiconductors Reports Third Quarter 2016 Results
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