| NXP Semiconductors | |||||||||||
| Table 3: Condensed consolidated statement of cash flows (unaudited) | |||||||||||
| ($ in millions) | Three Months Ended | ||||||||||
| July 1, 2018 | April 1, 2018 | July 2, 2017 | |||||||||
| Cash Flows from operating activities | |||||||||||
| Net income (loss) | $ | 66 | $ | 70 | $ | 63 | |||||
| Adjustments to reconcile net income (loss): | |||||||||||
| Depreciation and amortization | 496 | 491 | 560 | ||||||||
| Stock-based compensation | 69 | 69 | 67 | ||||||||
| Amortization of discount on debt | 11 | 10 | 10 | ||||||||
| Amortization of debt issuance costs | 2 | 3 | 3 | ||||||||
| Net gain on sale of assets | - | - | (14 | ) | |||||||
| Loss on extinguishment of debt | 26 | - | - | ||||||||
| Results relating to equity accounted investees | 1 | (2 | ) | (3 | ) | ||||||
| Changes in deferred taxes | (67 | ) | (42 | ) | (120 | ) | |||||
| Changes in operating assets and liabilities: | |||||||||||
| (Increase) decrease in receivables and other current assets | 86 | 81 | 49 | ||||||||
| (Increase) decrease in inventories | (76 | ) | (36 | ) | (37 | ) | |||||
| Increase (decrease) in accounts payable and accrued liabilities | (225 | ) | (26 | ) | (137 | ) | |||||
| Decrease (Increase) in other non-current assets | 10 | - | (2 | ) | |||||||
| Exchange differences | (5 | ) | 5 | 5 | |||||||
| Other items | 9 | (3 | ) | (3 | ) | ||||||
| Net cash provided by (used for) operating activities | 403 | 620 | 441 | ||||||||
| Cash flows from investing activities: | |||||||||||
| Purchase of identified intangible assets | (10 | ) | (18 | ) | (16 | ) | |||||
| Capital expenditures on property, plant and equipment | (129 | ) | (156 | ) | (96 | ) | |||||
| Purchase of interests in businesses, net of cash acquired | (18 | ) | - | - | |||||||
| Proceeds from sale of interests in businesses, net of cash divested | 32 | - | 54 | ||||||||
| Purchase of available-for-sale securities | (7 | ) | - | - | |||||||
| Net cash provided by (used for) investing activities | (132 | ) | (174 | ) | (58 | ) | |||||
| Cash flows from financing activities: | |||||||||||
| Repurchase of long-term debt | (1,273 | ) | - | - | |||||||
| Principal payments on long-term debt | (1 | ) | - | (4 | ) | ||||||
| Cash proceeds from exercise of stock options | 10 | 20 | 32 | ||||||||
| Purchase of treasury shares | (2 | ) | (30 | ) | (10 | ) | |||||
| Net cash provided by (used for) financing activities | (1,266 | ) | (10 | ) | 18 | ||||||
| Effect of changes in exchange rates on cash positions | (7 | ) | - | 3 | |||||||
| Increase (decrease) in cash and cash equivalents | (1,002 | ) | 436 | 404 | |||||||
| Cash and cash equivalents at beginning of period | 3,983 | 3,547 | 2,238 | ||||||||
| Cash and cash equivalents at end of period | 2,981 | 3,983 | 2,642 | ||||||||
| Net cash paid during the period for: | |||||||||||
| Interest | 75 | 21 | 84 | ||||||||
| Income taxes | 3 | 44 | 119 | ||||||||
| Non-cash adjustment related to the adoption of ASC 606: | |||||||||||
| Receivables and other current assets | - | (36 | ) | - | |||||||
| Inventories | - | 22 | - | ||||||||
NXP Semiconductors Reports Second Quarter 2018 Results
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