| NXP Semiconductors | |||||||||||||||
| Table 3: Condensed consolidated statement of cash flows (unaudited) | |||||||||||||||
| ($ in millions) | Three Months Ended | ||||||||||||||
| April 1, 2018 | December 31, 2017 | April 2, 2017 | |||||||||||||
| Cash Flows from operating activities | |||||||||||||||
| Net income (loss) | $ | 70 | $ | 768 | $ | 1,318 | |||||||||
| Adjustments to reconcile net income (loss): | |||||||||||||||
| Depreciation and amortization | 491 | 542 | 534 | ||||||||||||
| Stock-based compensation | 69 | 78 | 68 | ||||||||||||
| Amortization of discount on debt | 10 | 10 | 10 | ||||||||||||
| Amortization of debt issuance costs | 3 | 3 | 3 | ||||||||||||
| Net gain on sale of assets | - | (4 | ) | (1,597 | ) | ||||||||||
| Loss on extinguishment of debt | - | - | 41 | ||||||||||||
| Results relating to equity accounted investees | (2 | ) | (8 | ) | (5 | ) | |||||||||
| Changes in deferred taxes | (42 | ) | (593 | ) | 25 | ||||||||||
| Changes in operating assets and liabilities: | |||||||||||||||
| (Increase) decrease in receivables and other current assets | 81 | (25 | ) | 4 | |||||||||||
| (Increase) decrease in inventories | (36 | ) | (31 | ) | (28 | ) | |||||||||
| Increase (decrease) in accounts payable and accrued liabilities | (26 | ) | 82 | 244 | |||||||||||
| Decrease (Increase) in other non-current assets | - | (92 | ) | (1 | ) | ||||||||||
| Exchange differences | 5 | 5 | 12 | ||||||||||||
| Other items | (3 | ) | 3 | (3 | ) | ||||||||||
| Net cash provided by (used for) operating activities | 620 | 738 | 625 | ||||||||||||
| Cash flows from investing activities: | |||||||||||||||
| Purchase of identified intangible assets | (18 | ) | (10 | ) | (24 | ) | |||||||||
| Capital expenditures on property, plant and equipment | (156 | ) | (133 | ) | (161 | ) | |||||||||
| Proceeds from disposals of property, plant and equipment | - | 1 | - | ||||||||||||
| Proceeds from sale of interests in businesses, net of cash divested | - | - | 2,614 | ||||||||||||
| Other | - | 7 | (1 | ) | |||||||||||
| Net cash provided by (used for) investing activities | (174 | ) | (135 | ) | 2,428 | ||||||||||
| Cash flows from financing activities: | |||||||||||||||
| Repurchase of long-term debt | - | - | (2,728 | ) | |||||||||||
| Principal payments on long-term debt | - | (4 | ) | (4 | ) | ||||||||||
| Cash proceeds from exercise of stock options | 20 | 129 | 36 | ||||||||||||
| Purchase of treasury shares | (30 | ) | (248 | ) | (26 | ) | |||||||||
| Net cash provided by (used for) financing activities | (10 | ) | (123 | ) | (2,722 | ) | |||||||||
| Effect of changes in exchange rates on cash positions | - | 2 | 13 | ||||||||||||
| Increase (decrease) in cash and cash equivalents | 436 | 482 | 344 | ||||||||||||
| Cash and cash equivalents at beginning of period | 3,547 | 3,065 | 1,894 | ||||||||||||
| Cash and cash equivalents at end of period | 3,983 | 3,547 | 2,238 | ||||||||||||
| Net cash paid during the period for: | |||||||||||||||
| Interest | 21 | 81 | 53 | ||||||||||||
| Income taxes | 44 | 67 | 56 | ||||||||||||
| Non-cash adjustment related to the adoption of ASC 606: | |||||||||||||||
| Receivables and other current assets | (36 | ) | - | - | |||||||||||
| Inventories | 22 | - | - | ||||||||||||
NXP Semiconductors Reports First Quarter 2018 Results
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