| NXP Semiconductors | ||||||||||||||
| Table 5: Financial Reconciliation of GAAP to non-GAAP Results (unaudited) | ||||||||||||||
| ($ in millions except share data) | Three Months Ended | |||||||||||||
|
October 2,
2016 | July 3, 2016 |
October 4,
2015 | ||||||||||||
| Revenue | $ | 2,469 | $ | 2,365 | $ | 1,522 | ||||||||
| GAAP Gross profit | $ | 1,184 | $ | 1,099 | $ | 740 | ||||||||
| PPA effects | (64 | ) | (66 | ) | (3 | ) | ||||||||
| Restructuring | (3 | ) | (10 | ) | (4 | ) | ||||||||
| Stock Based Compensation | (10 | ) | (12 | ) | (3 | ) | ||||||||
| Other incidentals | 14 | 4 | 2 | |||||||||||
| Non-GAAP Gross profit | $ | 1,247 | $ | 1,183 | $ | 748 | ||||||||
| GAAP Gross margin | 48.0 | % | 46.5 | % | 48.6 | % | ||||||||
| Non-GAAP Gross margin | 50.5 | % | 50.0 | % | 49.1 | % | ||||||||
| GAAP Research and development | $ | (379 | ) | $ | (416 | ) | $ | (178 | ) | |||||
| Restructuring | - | (32 | ) | 1 | ||||||||||
| Stock based compensation | (29 | ) | (30 | ) | (7 | ) | ||||||||
| Other incidentals | - | 1 | - | |||||||||||
| Non-GAAP Research and development | $ | (350 | ) | $ | (355 | ) | $ | (172 | ) | |||||
| GAAP Selling, general and administrative | $ | (270 | ) | $ | (283 | ) | $ | (162 | ) | |||||
| PPA effects | (6 | ) | (9 | ) | - | |||||||||
| Restructuring | - | 2 | (1 | ) | ||||||||||
| Stock based compensation | (38 | ) | (38 | ) | (24 | ) | ||||||||
| Merger-related costs | (14 | ) | (11 | ) | (3 | ) | ||||||||
| Other incidentals | (5 | ) | (5 | ) | (3 | ) | ||||||||
| Non-GAAP Selling, general and administrative | $ | (207 | ) | $ | (222 | ) | $ | (131 | ) | |||||
| GAAP amortization of acquisition-related intangible assets | $ | (361 | ) | $ | (436 | ) | $ | (29 | ) | |||||
| PPA effects | (361 | ) | (436 | ) | (29 | ) | ||||||||
| Non-GAAP amortization of acquisition-related intangible assets | $ | - | $ | - | $ | - | ||||||||
| GAAP Other income (expense) | $ | - | $ | 10 | $ | 4 | ||||||||
| PPA effects | (1 | ) | (3 | ) | - | |||||||||
| Other incidentals | - | 13 | - | |||||||||||
| Non-GAAP Other income (expense) | $ | 1 | $ | - | $ | 4 | ||||||||
| - | ||||||||||||||
| GAAP Operating income (loss) | $ | 174 | $ | (26 | ) | $ | 375 | |||||||
| PPA effects | (432 | ) | (514 | ) | (32 | ) | ||||||||
| Restructuring | (3 | ) | (40 | ) | (4 | ) | ||||||||
| Stock based compensation | (77 | ) | (80 | ) | (34 | ) | ||||||||
| Merger-related costs | (14 | ) | (11 | ) | (3 | ) | ||||||||
| Other incidentals | 9 | 13 | (1 | ) | ||||||||||
| Non-GAAP Operating income (loss) | $ | 691 | $ | 606 | $ | 449 | ||||||||
| GAAP Operating margin | 7.0 | % | -1.1 | % | 24.6 | % | ||||||||
| Non-GAAP Operating margin | 28.0 | % | 25.6 | % | 29.5 | % | ||||||||
| GAAP Financial income (expense) | $ | (115 | ) | $ | (126 | ) | $ | 16 | ||||||
| PPA effects | - | 3 | - | |||||||||||
| Non-cash interest expense on convertible notes | (11 | ) | (10 | ) | (9 | ) | ||||||||
| Foreign exchange gain (loss) | (2 | ) | (2 | ) | 6 | |||||||||
| Extinguishment on debt | (6 | ) | (23 | ) | - | |||||||||
| Changes in fair value of warrant liability | - | - | 67 | |||||||||||
| Other financial expense | (9 | ) | (6 | ) | (4 | ) | ||||||||
| Non-GAAP Financial income (expense) | $ | (87 | ) | $ | (88 | ) | $ | (44 | ) | |||||
NXP Semiconductors Reports Third Quarter 2016 Results
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