| NXP Semiconductors | ||||||||||||||||
| Table 5: Financial Reconciliation of GAAP to non-GAAP Results (unaudited) | ||||||||||||||||
| ($ in millions except share data) | Three Months Ended | |||||||||||||||
| Oct. 1, 2017 | July 2, 2017 | Oct. 2, 2016 | ||||||||||||||
| Revenue | $ | 2,387 | $ | 2,202 | $ | 2,469 | ||||||||||
| GAAP Gross profit | $ | 1,215 | $ | 1,083 | $ | 1,184 | ||||||||||
| PPA effects | (59 | ) | (76 | ) | (64 | ) | ||||||||||
| Restructuring | (1 | ) | (1 | ) | (3 | ) | ||||||||||
| Stock Based Compensation | (7 | ) | (7 | ) | (10 | ) | ||||||||||
| Merger-related costs | (1 | ) | - | - | ||||||||||||
| Other incidentals | - | - | 14 | |||||||||||||
| Non-GAAP Gross profit | $ | 1,283 | $ | 1,167 | $ | 1,247 | ||||||||||
| GAAP Gross margin | 50.9 | % | 49.2 | % | 48.0 | % | ||||||||||
| Non-GAAP Gross margin | 53.7 | % | 53.0 | % | 50.5 | % | ||||||||||
| GAAP Research and development | $ | (392 | ) | $ | (381 | ) | $ | (379 | ) | |||||||
| Stock based compensation | (30 | ) | (28 | ) | (29 | ) | ||||||||||
| Non-GAAP Research and development | $ | (362 | ) | $ | (353 | ) | $ | (350 | ) | |||||||
| GAAP Selling, general and administrative | $ | (292 | ) | $ | (263 | ) | $ | (270 | ) | |||||||
| PPA effects | (4 | ) | (6 | ) | (6 | ) | ||||||||||
| Restructuring | (6 | ) | (1 | ) | - | |||||||||||
| Stock based compensation | (31 | ) | (32 | ) | (38 | ) | ||||||||||
| Merger-related costs | (41 | ) | (35 | ) | (14 | ) | ||||||||||
| Other incidentals | (23 | ) | (1 | ) | (5 | ) | ||||||||||
| Non-GAAP Selling, general and administrative | $ | (187 | ) | $ | (188 | ) | $ | (207 | ) | |||||||
| GAAP amortization of acquisition-related intangible assets | $ | (363 | ) | $ | (373 | ) | $ | (361 | ) | |||||||
| PPA effects | (363 | ) | (373 | ) | (361 | ) | ||||||||||
| Non-GAAP amortization of acquisition-related intangible assets | $ | - | $ | - | $ | - | ||||||||||
| GAAP Other income (expense) | $ | (5 | ) | $ | (16 | ) | $ | - | ||||||||
| PPA effects | - | - | (1 | ) | ||||||||||||
| Other incidentals | (6 | ) | (15 | ) | - | |||||||||||
| Non-GAAP Other income (expense) | $ | 1 | $ | (1 | ) | $ | 1 | |||||||||
| GAAP Operating income (loss) | $ | 163 | $ | 50 | $ | 174 | ||||||||||
| PPA effects | (426 | ) | (455 | ) | (432 | ) | ||||||||||
| Restructuring | (7 | ) | (2 | ) | (3 | ) | ||||||||||
| Stock based compensation | (68 | ) | (67 | ) | (77 | ) | ||||||||||
| Merger-related costs | (42 | ) | (35 | ) | (14 | ) | ||||||||||
| Other incidentals | (29 | ) | (16 | ) | 9 | |||||||||||
| Non-GAAP Operating income (loss) | $ | 735 | $ | 625 | $ | 691 | ||||||||||
| GAAP Operating margin | 6.8 | % | 2.3 | % | 7.0 | % | ||||||||||
| Non-GAAP Operating margin | 30.8 | % | 28.4 | % | 28.0 | % | ||||||||||
| GAAP Financial income (expense) | $ | (76 | ) | $ | (75 | ) | $ | (115 | ) | |||||||
| Non-cash interest expense on convertible notes | (11 | ) | (10 | ) | (11 | ) | ||||||||||
| Foreign exchange gain (loss) | (5 | ) | (3 | ) | (2 | ) | ||||||||||
| Extinguishment on debt | - | - | (6 | ) | ||||||||||||
| Other financial expense | (3 | ) | (3 | ) | (9 | ) | ||||||||||
| Non-GAAP Financial income (expense) | $ | (57 | ) | $ | (59 | ) | $ | (87 | ) | |||||||
NXP Semiconductors Reports Third Quarter 2017 Results
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