| 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 | % | ||||||||||
NXP Semiconductors Reports Fourth Quarter and Full Year 2017 Results
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