| NXP Semiconductors | ||||||||||||||||||||||
| Table 4: Reconciliation of GAAP to non-GAAP Segment Results (unaudited) | ||||||||||||||||||||||
| ($ in millions) | Three Months Ended | Full Year | ||||||||||||||||||||
|
December 31,
2016 |
October 2,
2016 |
December 31,
2015 |
2016 |
2015 | ||||||||||||||||||
| High Performance Mixed Signal (HPMS) | 2,062 | 2,099 | 1,306 | 8,086 | 4,720 | |||||||||||||||||
| Standard Products | 323 | 320 | 271 | 1,220 | 1,241 | |||||||||||||||||
| Product Revenue | 2,385 | 2,419 | 1,577 | 9,306 | 5,961 | |||||||||||||||||
| Corporate and Other | 55 | 50 | 29 | 192 | 140 | |||||||||||||||||
| Total Revenue | $ | 2,440 | $ | 2,469 | $ | 1,606 | $ | 9,498 | $ | 6,101 | ||||||||||||
| HPMS Revenue | $ | 2,062 | $ | 2,099 | $ | 1,306 | $ | 8,086 | $ | 4,720 | ||||||||||||
| Percent of Total Revenue | 84.5 | % | 85.0 | % | 81.3 | % | 85.1 | % | 77.4 | % | ||||||||||||
| HPMS segment GAAP gross profit | 1,058 | 1,059 | 534 | 3,625 | 2,367 | |||||||||||||||||
| PPA effects | (59 | ) | (63 | ) | (164 | ) | (679 | ) | (166 | ) | ||||||||||||
| Restructuring | 1 | - | (8 | ) | (12 | ) | (9 | ) | ||||||||||||||
| Stock based compensation | (10 | ) | (10 | ) | (6 | ) | (42 | ) | (12 | ) | ||||||||||||
| Other incidentals | - | - | (1 | ) | - | (1 | ) | |||||||||||||||
| HPMS segment non-GAAP gross profit | $ | 1,126 | $ | 1,132 | $ | 713 | $ | 4,358 | $ | 2,555 | ||||||||||||
| HPMS segment GAAP gross margin | 51.3 | % | 50.5 | % | 40.9 | % | 44.8 | % | 50.1 | % | ||||||||||||
| HPMS segment non-GAAP gross margin | 54.6 | % | 53.9 | % | 54.6 | % | 53.9 | % | 54.1 | % | ||||||||||||
| HPMS segment GAAP operating profit | 124 | 116 | 995 | (302 | ) | 1,885 | ||||||||||||||||
| PPA effects | (426 | ) | (428 | ) | (283 | ) | (2,202 | ) | (329 | ) | ||||||||||||
| Restructuring | 1 | - | (195 | ) | (52 | ) | (211 | ) | ||||||||||||||
| Stock based compensation | (76 | ) | (72 | ) | (99 | ) | (313 | ) | (184 | ) | ||||||||||||
| Other incidentals | (1 | ) | - | 1,191 | 12 | 1,191 | ||||||||||||||||
| HPMS segment non-GAAP operating profit | $ | 626 | $ | 616 | $ | 381 | $ | 2,253 | $ | 1,418 | ||||||||||||
| HPMS segment GAAP operating margin | 6.0 | % | 5.5 | % | 76.2 | % | -3.7 | % | 39.9 | % | ||||||||||||
| HPMS segment non-GAAP operating margin | 30.4 | % | 29.3 | % | 29.2 | % | 27.9 | % | 30.0 | % | ||||||||||||
| Standard Products Revenue | $ | 323 | $ | 320 | $ | 271 | $ | 1,220 | $ | 1,241 | ||||||||||||
| Percent of Total Revenue | 13.2 | % | 13.0 | % | 16.9 | % | 12.8 | % | 20.3 | % | ||||||||||||
| Standard Products segment GAAP gross profit | 130 | 123 | 90 | 437 | 417 | |||||||||||||||||
| PPA effects | - | - | (1 | ) | (1 | ) | (3 | ) | ||||||||||||||
| Restructuring | (1 | ) | - | (4 | ) | (1 | ) | (9 | ) | |||||||||||||
| Stock based compensation | (1 | ) | - | (1 | ) | (4 | ) | (3 | ) | |||||||||||||
| Other incidentals | 13 | 14 | (1 | ) | 27 | (6 | ) | |||||||||||||||
| Standard Products segment non-GAAP gross profit | $ | 119 | $ | 109 | $ | 97 | $ | 416 | $ | 438 | ||||||||||||
| Standard Products segment GAAP gross margin | 40.2 | % | 38.4 | % | 33.2 | % | 35.8 | % | 33.6 | % | ||||||||||||
| Standard Products segment non-GAAP gross margin | 36.8 | % | 34.1 | % | 35.8 | % | 34.1 | % | 35.3 | % | ||||||||||||
| Standard Products segment GAAP operating profit | 92 | 85 | 103 | 268 | 264 | |||||||||||||||||
| PPA effects | 1 | - | (12 | ) | (19 | ) | (50 | ) | ||||||||||||||
| Restructuring | - | - | (4 | ) | (1 | ) | (9 | ) | ||||||||||||||
| Stock based compensation | (6 | ) | (4 | ) | (11 | ) | (23 | ) | (31 | ) | ||||||||||||
| Other incidentals | 9 | 11 | 66 | 17 | 61 | |||||||||||||||||
| Standard Products segment non-GAAP operating profit | $ | 88 | $ | 78 | $ | 64 | $ | 294 | $ | 293 | ||||||||||||
| Standard Products segment GAAP operating margin | 28.5 | % | 26.6 | % | 38.0 | % | 22.0 | % | 21.3 | % | ||||||||||||
| Standard Products segment non-GAAP operating margin | 27.2 | % | 24.4 | % | 23.6 | % | 24.1 | % | 23.6 | % | ||||||||||||
| Corporate and Other Revenue | $ | 55 | $ | 50 | $ | 29 | $ | 192 | $ | 140 | ||||||||||||
| Percent of Total Revenue | 2.3 | % | 2.0 | % | 1.8 | % | 2.1 | % | 2.3 | % | ||||||||||||
| Corporate and Other segment GAAP gross profit | 1 | 2 | (5 | ) | 7 | 3 | ||||||||||||||||
| PPA effects | (1 | ) | (1 | ) | (2 | ) | (6 | ) | (9 | ) | ||||||||||||
| Restructuring | (1 | ) | (3 | ) | (1 | ) | (5 | ) | - | |||||||||||||
| Stock based compensation | (1 | ) | - | - | (3 | ) | - | |||||||||||||||
| Other incidentals | 1 | - | 2 | 5 | 6 | |||||||||||||||||
| Corporate and Other segment non-GAAP gross profit | $ | 3 | $ | 6 | $ | (4 | ) | $ | 16 | $ | 6 | |||||||||||
| Corporate and Other segment GAAP gross margin | 1.8 | % | 4.0 | % | -17.2 | % | 3.6 | % | 2.1 | % | ||||||||||||
| Corporate and Other segment non-GAAP gross margin | 5.5 | % | 12.0 | % | -13.8 | % | 8.3 | % | 4.3 | % | ||||||||||||
| Corporate and Other segment GAAP operating profit | (43 | ) | (27 | ) | (85 | ) | (116 | ) | (134 | ) | ||||||||||||
| PPA effects | (2 | ) | (4 | ) | (5 | ) | (16 | ) | (22 | ) | ||||||||||||
| Restructuring | (6 | ) | (3 | ) | (40 | ) | (15 | ) | (44 | ) | ||||||||||||
| Stock based compensation | - | (1 | ) | (1 | ) | (2 | ) | (1 | ) | |||||||||||||
| Merger-related costs | (37 | ) | (14 | ) | (27 | ) | (67 | ) | (42 | ) | ||||||||||||
| Other incidentals | 1 | (2 | ) | - | - | 1 | ||||||||||||||||
| Corporate and Other segment non-GAAP operating profit | $ | 1 | $ | (3 | ) | $ | (12 | ) | $ | (16 | ) | $ | (26 | ) | ||||||||
| Corporate and Other segment GAAP operating margin | -78.2 | % | -54.0 | % | -293.1 | % | -60.4 | % | -95.7 | % | ||||||||||||
| Corporate and Other segment non-GAAP operating margin | 1.8 | % | -6.0 | % | -41.4 | % | -8.3 | % | -18.6 | % | ||||||||||||
NXP Semiconductors Reports Fourth Quarter and Full-Year 2016 Results
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