| NXP Semiconductors | |||||||||||||||
| Table 3: Condensed consolidated statement of cash flows (unaudited) | |||||||||||||||
| ($ in millions) | Three Months Ended | ||||||||||||||
| July 2, 2017 | April 2, 2017 | July 3, 2016 | |||||||||||||
| Cash Flows from operating activities | |||||||||||||||
| Net income (loss) | $ | 63 | $ | 1,318 | $ | 1 | |||||||||
| Adjustments to reconcile net income (loss): | |||||||||||||||
| Depreciation and amortization | 560 | 534 | 620 | ||||||||||||
| Stock-based compensation | 67 | 68 | 80 | ||||||||||||
| Excess tax benefits from share-based compensation plans | - | - | (1 | ) | |||||||||||
| Amortization of discount on debt | 10 | 10 | 7 | ||||||||||||
| Amortization of debt issuance costs | 3 | 3 | 4 | ||||||||||||
| Net gain on sale of assets | (14 | ) | (1,597 | ) | (11 | ) | |||||||||
| Loss on extinguishment of debt | - | 41 | 23 | ||||||||||||
| Results relating to equity accounted investees | (3 | ) | (5 | ) | (1 | ) | |||||||||
| Changes in deferred taxes | (120 | ) | 25 | (171 | ) | ||||||||||
| Changes in operating assets and liabilities: | |||||||||||||||
| (Increase) decrease in receivables and other current assets | 49 | 4 | (61 | ) | |||||||||||
| (Increase) decrease in inventories | (37 | ) | (28 | ) | 46 | ||||||||||
| Increase (decrease) in accounts payable and accrued liabilities | (137 | ) | 244 | (120 | ) | ||||||||||
| Decrease (Increase) in other non-current assets | (2 | ) | (1 | ) | (1 | ) | |||||||||
| Exchange differences | 5 | 12 | 4 | ||||||||||||
| Other items | (3 | ) | (3 | ) | 15 | ||||||||||
| Net cash provided by (used for) operating activities | 441 | 625 | 434 | ||||||||||||
| Cash flows from investing activities: | |||||||||||||||
| Purchase of identified intangible assets | (16 | ) | (24 | ) | (7 | ) | |||||||||
| Capital expenditures on property, plant and equipment | (96 | ) | (161 | ) | (71 | ) | |||||||||
| Proceeds from sale of interests in businesses, net of cash divested | 54 | 2,614 | 18 | ||||||||||||
| Other | - | (1 | ) | 1 | |||||||||||
| Net cash provided by (used for) investing activities | (58 | ) | 2,428 | (59 | ) | ||||||||||
| Cash flows from financing activities: | |||||||||||||||
| Net (repayments) borrowings of short-term debt | - | - | (1 | ) | |||||||||||
| Repurchase of long-term debt | - | (2,728 | ) | (1,872 | ) | ||||||||||
| Principal payments on long-term debt | (4 | ) | (4 | ) | (8 | ) | |||||||||
| Proceeds from the issuance of long-term debt | - | - | 1,750 | ||||||||||||
| Cash paid for debt issuance costs | - | - | (14 | ) | |||||||||||
| Cash proceeds from exercise of stock options | 32 | 36 | 27 | ||||||||||||
| Purchase of treasury shares and restricted stock unit withholdings | (10 | ) | (26 | ) | (397 | ) | |||||||||
| Excess tax benefits from share-based compensation plans | - | - | 1 | ||||||||||||
| Net cash provided by (used for) financing activities | 18 | (2,722 | ) | (514 | ) | ||||||||||
| Effect of changes in exchange rates on cash positions | 3 | 13 | (14 | ) | |||||||||||
| Increase (decrease) in cash and cash equivalents | 404 | 344 | (153 | ) | |||||||||||
| Cash and cash equivalents at beginning of period | 2,238 | 1,894 | 1,488 | ||||||||||||
| Cash and cash equivalents at end of period | 2,642 | 2,238 | 1,335 | ||||||||||||
| Net cash paid during the period for: | |||||||||||||||
| Interest | 84 | 53 | 108 | ||||||||||||
| Income taxes | 119 | 56 | 18 | ||||||||||||
NXP Semiconductors Reports Second Quarter 2017 Results
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