| NXP Semiconductors | ||||||||||||||
| Table 3: Condensed consolidated statement of cash flows (unaudited) | ||||||||||||||
| ($ in millions) | Three Months Ended | |||||||||||||
| Oct. 1, 2017 | July 2, 2017 | Oct, 2, 2016 | ||||||||||||
| Cash Flows from operating activities | ||||||||||||||
| Net income (loss) | $ | 123 | $ | 63 | $ | 108 | ||||||||
| Adjustments to reconcile net income (loss): | ||||||||||||||
| Depreciation and amortization | 537 | 560 | 526 | |||||||||||
| Stock-based compensation | 68 | 67 | 77 | |||||||||||
| Excess tax benefits from share-based compensation plans | - | - | (1 | ) | ||||||||||
| Amortization of discount on debt | 10 | 10 | 9 | |||||||||||
| Amortization of debt issuance costs | 3 | 3 | 3 | |||||||||||
| Net gain on sale of assets | - | (14 | ) | - | ||||||||||
| Loss on extinguishment of debt | - | - | 6 | |||||||||||
| Results relating to equity accounted investees | (6 | ) | (3 | ) | (5 | ) | ||||||||
| Changes in deferred taxes | (109 | ) | (120 | ) | (64 | ) | ||||||||
| Changes in operating assets and liabilities: | ||||||||||||||
| (Increase) decrease in receivables and other current assets | 3 | 49 | (57 | ) | ||||||||||
| (Increase) decrease in inventories | (24 | ) | (37 | ) | 57 | |||||||||
| Increase (decrease) in accounts payable and accrued liabilities | 36 | (137 | ) | 50 | ||||||||||
| Decrease (Increase) in other non-current assets | (5 | ) | (2 | ) | (4 | ) | ||||||||
| Exchange differences | 8 | 5 | 4 | |||||||||||
| Other items | (1 | ) | (3 | ) | 9 | |||||||||
| Net cash provided by (used for) operating activities | 643 | 441 | 718 | |||||||||||
| Cash flows from investing activities: | ||||||||||||||
| Purchase of identified intangible assets | (16 | ) | (16 | ) | (9 | ) | ||||||||
| Capital expenditures on property, plant and equipment | (162 | ) | (96 | ) | (99 | ) | ||||||||
| Proceeds from disposals of property, plant and equipment | 1 | - | 1 | |||||||||||
| Purchase of interests in businesses, net of cash acquired | - | - | (200 | ) | ||||||||||
| Proceeds from sale of interests in businesses, net of cash divested | 14 | 54 | 2 | |||||||||||
| Net cash provided by (used for) investing activities | (163 | ) | (58 | ) | (305 | ) | ||||||||
| Cash flows from financing activities: | ||||||||||||||
| Amounts drawn under the revolving credit facility | - | - | 200 | |||||||||||
| Repurchase of long-term debt | - | - | (1,219 | ) | ||||||||||
| Principal payments on long-term debt | (4 | ) | (4 | ) | (7 | ) | ||||||||
| Proceeds from the issuance of long-term debt | - | - | 1,509 | |||||||||||
| Cash paid for debt issuance costs | - | - | (12 | ) | ||||||||||
| Dividends paid to non-controlling interests | (89 | ) | (126 | ) | ||||||||||
| Cash proceeds from exercise of stock options | 36 | 32 | 18 | |||||||||||
| Purchase of treasury shares and restricted stock unit withholdings | (2 | ) | (10 | ) | (555 | ) | ||||||||
| Excess tax benefits from share-based compensation plans | - | - | 1 | |||||||||||
| Net cash provided by (used for) financing activities | (59 | ) | 18 | (191 | ) | |||||||||
| Effect of changes in exchange rates on cash positions | 2 | 3 | 12 | |||||||||||
| Increase (decrease) in cash and cash equivalents | 423 | 404 | 234 | |||||||||||
| Cash and cash equivalents at beginning of period | 2,642 | 2,238 | 1,335 | |||||||||||
| Cash and cash equivalents at end of period | 3,065 | 2,642 | 1,569 | |||||||||||
| Net cash paid during the period for: | ||||||||||||||
| Interest | 27 | 84 | 57 | |||||||||||
| Income taxes | 114 | 119 | 19 | |||||||||||
NXP Semiconductors Reports Third Quarter 2017 Results
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