STMicroelectronics Reports Q2 2018 Financial Results
| STMicroelectronics N.V. | | |
| CONSOLIDATED STATEMENTS OF INCOME | | |
| (in millions of U.S. dollars, except per share data ($)) | | |
| | | |
| | Six months ended |
| | June 30, | July 1, |
| | 2018 | 2017 |
| | (Unaudited) | (Unaudited) |
| | | |
| Net sales | 4,463 | 3,728 |
| Other revenues | 31 | 16 |
| NET REVENUES | 4,494 | 3,744 |
| Cost of sales | (2,695) | (2,320) |
| GROSS PROFIT | 1,799 | 1,424 |
| Selling, general and administrative | (542) | (473) |
| Research and development | (705) | (659) |
| Other income and expenses, net | 26 | 32 |
| Impairment, restructuring charges and other related closure costs | (20) | (11) |
| Total operating expenses | (1,241) | (1,111) |
| OPERATING INCOME | 558 | 313 |
| Interest expense, net | (5) | (9) |
| Other components of pension benefit costs | (5) | (6) |
| Income (loss) on equity-method investments | - | (2) |
| INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST | 548 | 296 |
| Income tax expense | (44) | (34) |
| NET INCOME | 504 | 262 |
| Net income attributable to noncontrolling interest | (4) | (4) |
| NET INCOME ATTRIBUTABLE TO PARENT COMPANY | 500 | 258 |
| | | |
| EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.56 | 0.29 |
| EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.55 | 0.28 |
| | | |
| NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EARNINGS PER SHARE | 915.1 | 906.5 |
| | | |
| STMicroelectronics N.V. | | | |
| CONSOLIDATED BALANCE SHEETS | | | |
| As at | June 30, | March 31, | December 31, |
| In millions of U.S. dollars | 2018 | 2018 | 2017 |
| | (Unaudited) | (Unaudited) | (Audited) |
| ASSETS | | | |
| Current assets: | | | |
| Cash and cash equivalents | 1,683 | 1,791 | 1,759 |
| Short-term deposits | 15 | 14 | - |
| Marketable securities | 429 | 429 | 431 |
| Trade accounts receivable, net | 1,106 | 1,042 | 1,149 |
| Inventories | 1,559 | 1,435 | 1,335 |
| Other current assets | 405 | 449 | 425 |
| Total current assets | 5,197 | 5,160 | 5,099 |
| Goodwill | 121 | 125 | 123 |
| Other intangible assets, net | 198 | 205 | 209 |
| Property, plant and equipment, net | 3,410 | 3,371 | 3,094 |
| Non-current deferred tax assets | 674 | 632 | 624 |
| Long-term investments | 58 | 58 | 57 |
| Other non-current assets | 391 | 517 | 475 |
| | 4,852 | 4,908 | 4,582 |
| Total assets | 10,049 | 10,068 | 9,681 |
| | | | |
| LIABILITIES AND EQUITY | | | |
| Current liabilities: | | | |
| Short-term debt | 118 | 119 | 118 |
| Trade accounts payable | 991 | 979 | 893 |
| Other payables and accrued liabilities | 887 | 940 | 897 |
| Dividends payable to stockholders | 168 | 6 | 60 |
| Accrued income tax | 40 | 41 | 52 |
| Total current liabilities | 2,204 | 2,085 | 2,020 |
| Long-term debt | 1,598 | 1,593 | 1,583 |
| Post-employment benefit obligations | 374 | 393 | 385 |
| Long-term deferred tax liabilities | 11 | 12 | 11 |
| Other long-term liabilities | 208 | 216 | 215 |
| | 2,191 | 2,214 | 2,194 |
| Total liabilities | 4,395 | 4,299 | 4,214 |
| Commitment and contingencies | | | |
| Equity | | | |
| Parent company stockholders' equity | | | |
| Common stock (preferred stock: 540,000,000 shares authorized, not issued; common stock: Euro 1.04 nominal value, 1,200,000,000 shares authorized, 911,141,920 shares issued, 901,354,389 shares outstanding) | 1,157 | 1,157 | 1,157 |
| Capital surplus | 2,766 | 2,743 | 2,718 |
| Retained earnings | 1,215 | 1,212 | 973 |
| Accumulated other comprehensive income | 538 | 724 | 688 |
| Treasury stock | (89) | (132) | (132) |
| Total parent company stockholders' equity | 5,587 | 5,704 | 5,404 |
| Noncontrolling interest | 67 | 65 | 63 |
| Total equity | 5,654 | 5,769 | 5,467 |
| Total liabilities and equity | 10,049 | 10,068 | 9,681 |
| | | | |
