STMicroelectronics Reports 2016 Fourth Quarter and Full Year Financial Results

Q4 2016

(US$ millions, except per share data ($))
Gross Profit Operating Income Net Earnings Corresponding EPS
U.S. GAAP 698 129 112 0.13
Impairment & Restructuring   24 24  
Estimated Income Tax Effect     1
Non-U.S GAAP 698 153 137 0.15


Q3 2016

(US$ millions, except per share data ($))
Gross Profit Operating Income Net Earnings Corresponding EPS
U.S. GAAP 643 90 71   0.08
Impairment & Restructuring   29 29    
Estimated Income Tax Effect     (4 )
Non-U.S GAAP 643 119 96   0.11


Q4 2015

(US$ millions, except per share data ($))
Gross Profit Operating Income Net Earnings

 
Corresponding EPS
U.S. GAAP 559 25 2   0.00
Impairment & Restructuring   4 4    
Estimated Income Tax Effect     (4 )
Non-U.S GAAP 559 29 2   0.00


(Appendix - continued)

Net financial position: resources (debt), represents the balance between our total financial resources and our total financial debt. Our total financial resources include cash and cash equivalents, marketable securities, short-term deposits and restricted cash, and our total financial debt includes short-term borrowings, current portion of long-term debt and long-term debt, all as reported in our consolidated balance sheet. We believe our net financial position provides useful information for investors and management because it gives evidence of our global position either in terms of net indebtedness or net cash position by measuring our capital resources based on cash, cash equivalents and marketable securities and the total level of our financial indebtedness. Net financial position is not a U.S. GAAP measure.

Net Financial Position (in US$ millions) December 31, 2016 October 1, 2016 December 31, 2015
Cash and cash equivalents 1,629   1,675   1,771  
Marketable securities 335   342   335  
Total financial resources 1,964   2,017   2,106  
Short-term debt (117 ) (117 ) (191 )
Long-term debt (1,334 ) (1,436 ) (1,421 )
Total financial debt (1,451 ) (1,553 ) (1,612 )
Net financial position - Non-U.S. GAAP 513   464   494  

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