NXP Semiconductors Reports Fourth Quarter and Full Year 2017

NXP Semiconductors Reports Fourth Quarter and Full Year 2017 Results


NXP Semiconductors
Table 4: Reconciliation of GAAP to non-GAAP Segment Results (unaudited)

($ in millions)	Three Months Ended									Full Year
	December 31, 2017			October 1, 2017			December 31, 2016			2017			2016

High Performance Mixed Signal (HPMS)		2,348			2,288			2,062			8,745			8,086
Standard Products		-			-			323			118			1,220
Product Revenue		2,348			2,288			2,385			8,863			9,306
Corporate and Other		108			99			55			393			192
Total Revenue	$	2,456		$	2,387		$	2,440		$	9,256		$	9,498


HPMS Revenue	$	2,348		$	2,288		$	2,062		$	8,745		$	8,086
Percent of Total Revenue		95.6	%		95.9	%		84.5	%		94.5	%		85.1	%
HPMS segment GAAP gross profit		1,228			1,203			1,058			4,527			3,625
PPA effects		(78	)		(58	)		(59	)		(268	)		(679	)
Restructuring		-			-			1			-			(12	)
Stock based compensation		(10	)		(7	)		(10	)		(33	)		(42	)
Merger-related costs		-			(1	)		-			(1	)		-
HPMS segment non-GAAP gross profit	$	1,316		$	1,269		$	1,126		$	4,829		$	4,358

HPMS segment GAAP gross margin		52.3	%		52.6	%		51.3	%		51.8	%		44.8	%
HPMS segment non-GAAP gross margin		56.0	%		55.5	%		54.6	%		55.2	%		53.9	%

HPMS segment GAAP operating profit		246			235			124			656			(302	)
PPA effects		(430	)		(425	)		(426	)		(1,737	)		(2,202	)
Restructuring		-			-			1			9			(52	)
Stock based compensation		(77	)		(67	)		(76	)		(278	)		(313	)
Merger-related costs		(3	)		(3	)		-			(10	)		-
Other incidentals		-			-			(1	)		-			12
HPMS segment non-GAAP operating profit	$	756		$	730		$	626		$	2,672		$	2,253

HPMS segment GAAP operating margin		10.5	%		10.3	%		6.0	%		7.5	%		-3.7	%
HPMS segment non-GAAP operating margin		32.2	%		31.9	%		30.4	%		30.6	%		27.9	%


Standard Products Revenue	$	-		$	-		$	323		$	118		$	1,220
Percent of Total Revenue		-			-			13.2	%		1.3	%		12.8	%
Standard Products segment GAAP gross profit		-			-			130			45			437
PPA effects		-			-			-			-			(1	)
Restructuring		-			-			(1	)		-			(1	)
Stock based compensation		-			-			(1	)		(1	)		(4	)
Other incidentals		-			-			13			4			27
Standard Products segment non-GAAP gross profit	$	-		$	-		$	119		$	42		$	416

Standard Products segment GAAP gross margin		-			-			40.2	%		38.1	%		35.8	%
Standard Products segment non-GAAP gross margin		-			-			36.8	%		35.6	%		34.1	%

Standard Products segment GAAP operating profit		-			-			92			31			268
PPA effects		-			-			1			-			(19	)
Restructuring		-			-			-			-			(1	)
Stock based compensation		-			-			(6	)		(2	)		(23	)
Other incidentals		-			-			9			4			17
Standard Products segment non-GAAP operating profit	$	-		$	-		$	88		$	29		$	294

Standard Products segment GAAP operating margin		-			-			28.5	%		26.3	%		22.0	%
Standard Products segment non-GAAP operating margin		-			-			27.2	%		24.6	%		24.1	%


Corporate and Other Revenue		108		$	99		$	55		$	393		$	192
Percent of Total Revenue		4.4	%		4.1	%		2.3	%		4.2	%		2.1	%
Corporate and Other segment GAAP gross profit		14			12			1			47			7
PPA effects		(1	)		(1	)		(1	)		(5	)		(6	)
Restructuring		-			(1	)		(1	)		(3	)		(5	)
Stock based compensation		-			-			(1	)		1			(3	)
Other incidentals		-			-			1			-			5
Corporate and Other segment non-GAAP gross profit	$	15		$	14		$	3		$	54		$	16

Corporate and Other segment GAAP gross margin		13.0	%		12.1	%		1.8	%		12.0	%		3.6	%
Corporate and Other segment non-GAAP gross margin		13.9	%		14.1	%		5.5	%		13.7	%		8.3	%

Corporate and Other segment GAAP operating profit		(36	)		(72	)		(43	)		1,415			(116	)
PPA effects		(1	)		(1	)		(2	)		(5	)		(16	)
Restructuring		-			(7	)		(6	)		(10	)		(15	)
Stock based compensation		(1	)		(1	)		-			(1	)		(2	)
Merger-related costs		(29	)		(39	)		(37	)		(129	)		(67	)
Other incidentals		(12	)		(29	)		1			1,539			-
Corporate and Other segment non-GAAP operating profit	$	7		$	5		$	1		$	21		$	(16	)

Corporate and Other segment GAAP operating margin		-33.3	%		-72.7	%		-78.2	%		360.1	%		-60.4	%
Corporate and Other segment non-GAAP operating margin		6.5	%		5.1	%		1.8	%		5.3	%		-8.3	%

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 Next Page »