| NXP Semiconductors | ||||||||||||||||||||
| Table 4: Reconciliation of GAAP to non-GAAP Segment Results (unaudited) | ||||||||||||||||||||
| ($ in millions) | Three Months Ended | Full Year | ||||||||||||||||||
| Dec. 31, 2018 | Sept. 30, 2018 | Dec. 31, 2017 | 2018 | 2017 | ||||||||||||||||
| High Performance Mixed Signal (HPMS) | 2,312 | 2,351 | 2,348 | 9,022 | 8,745 | |||||||||||||||
| Standard Products | - | - | - | - | 118 | |||||||||||||||
| Corporate and Other | 91 | 94 | 108 | 385 | 393 | |||||||||||||||
| Total Revenue | $ | 2,403 | $ | 2,445 | $ | 2,456 | $ | 9,407 | $ | 9,256 | ||||||||||
| HPMS Revenue | $ | 2,312 | $ | 2,351 | $ | 2,348 | $ | 9,022 | $ | 8,745 | ||||||||||
| Percent of Total Revenue | 96.2 | % | 96.2 | % | 95.6 | % | 95.9 | % | 94.5 | % | ||||||||||
| HPMS segment GAAP gross profit | 1,234 | 1,254 | 1,228 | 4,822 | 4,527 | |||||||||||||||
| PPA effects | (18 | ) | (19 | ) | (78 | ) | (74 | ) | (268 | ) | ||||||||||
| Stock based compensation | (12 | ) | (10 | ) | (10 | ) | (39 | ) | (33 | ) | ||||||||||
| Merger-related costs | (1 | ) | (1 | ) | - | (3 | ) | (1 | ) | |||||||||||
| HPMS segment non-GAAP gross profit | $ | 1,265 | $ | 1,284 | $ | 1,316 | $ | 4,938 | $ | 4,829 | ||||||||||
| HPMS segment GAAP gross margin | 53.4 | % | 53.3 | % | 52.3 | % | 53.4 | % | 51.8 | % | ||||||||||
| HPMS segment non-GAAP gross margin | 54.7 | % | 54.6 | % | 56.0 | % | 54.7 | % | 55.2 | % | ||||||||||
| HPMS segment GAAP operating profit | 246 | 240 | 246 | 807 | 656 | |||||||||||||||
| PPA effects | (384 | ) | (383 | ) | (430 | ) | (1,531 | ) | (1,737 | ) | ||||||||||
| Restructuring | - | (4 | ) | - | (4 | ) | 9 | |||||||||||||
| Stock based compensation | (93 | ) | (82 | ) | (77 | ) | (312 | ) | (278 | ) | ||||||||||
| Merger-related costs | (7 | ) | (23 | ) | (3 | ) | (40 | ) | (10 | ) | ||||||||||
| HPMS segment non-GAAP operating profit | $ | 730 | $ | 732 | $ | 756 | $ | 2,694 | $ | 2,672 | ||||||||||
| HPMS segment GAAP operating margin | 10.6 | % | 10.2 | % | 10.5 | % | 8.9 | % | 7.5 | % | ||||||||||
| HPMS segment non-GAAP operating margin | 31.6 | % | 31.1 | % | 32.2 | % | 29.9 | % | 30.6 | % | ||||||||||
| Standard Products Revenue | $ | 118 | ||||||||||||||||||
| Percent of Total Revenue | 1.3 | % | ||||||||||||||||||
| Standard Products segment GAAP gross profit | 45 | |||||||||||||||||||
| Stock based compensation | (1 | ) | ||||||||||||||||||
| Merger-related costs | 4 | |||||||||||||||||||
| Standard Products segment non-GAAP gross profit | $ | 42 | ||||||||||||||||||
| Standard Products segment GAAP gross margin | 38.1 | % | ||||||||||||||||||
| Stamdard Products segment non-GAAP gross margin | 35.6 | % | ||||||||||||||||||
| Standard Products segment GAAP operating profit | 31 | |||||||||||||||||||
| Stock based compensation | (2 | ) | ||||||||||||||||||
| Merger-related costs | 4 | |||||||||||||||||||
| Standard Products segment non-GAAP operating profit | $ | 29 | ||||||||||||||||||
| Standard Products segment GAAP operating margin | 26.3 | % | ||||||||||||||||||
| Standard Products segment non-GAAP operating margin | 24.6 | % | ||||||||||||||||||
| Corporate and Other Revenue | $ | 91 | $ | 94 | $ | 108 | $ | 385 | $ | 393 | ||||||||||
| Percent of Total Revenue | 3.8 | % | 3.8 | % | 4.4 | % | 4.1 | % | 4.2 | % | ||||||||||
| Corporate and Other segment GAAP gross profit | 9 | 2 | 14 | 29 | 47 | |||||||||||||||
| PPA effects | (1 | ) | (1 | ) | (1 | ) | (4 | ) | (5 | ) | ||||||||||
| Restructuring | - | - | - | - | (3 | ) | ||||||||||||||
| Stock based compensation | - | (1 | ) | - | (1 | ) | 1 | |||||||||||||
| Merger-related costs | - | (7 | ) | - | (8 | ) | - | |||||||||||||
| Corporate and Other segment non-GAAP gross profit | $ | 10 | $ | 11 | $ | 15 | $ | 42 | $ | 54 | ||||||||||
| Corporate and Other segment GAAP gross margin | 9.9 | % | 2.1 | % | 13.0 | % | 7.5 | % | 12.0 | % | ||||||||||
| Corporate and Other segment non-GAAP gross margin | 11.0 | % | 11.7 | % | 13.9 | % | 10.9 | % | 13.7 | % | ||||||||||
| Corporate and Other segment GAAP operating profit | (22 | ) | 1,971 | (36 | ) | 1,903 | 1,415 | |||||||||||||
| PPA effects | (1 | ) | (1 | ) | (1 | ) | (4 | ) | (5 | ) | ||||||||||
| Restructuring | (1 | ) | (1 | ) | - | (2 | ) | (10 | ) | |||||||||||
| Stock based compensation | - | (1 | ) | (1 | ) | (2 | ) | (1 | ) | |||||||||||
| Merger-related costs | (8 | ) | 1,937 | (29 | ) | 1,888 | (129 | ) | ||||||||||||
| Other incidentals | (13 | ) | 36 | (12 | ) | 18 | 1,539 | |||||||||||||
| Corporate and Other segment non-GAAP operating profit | $ | 1 | $ | 1 | $ | 7 | $ | 5 | $ | 21 | ||||||||||
| Corporate and Other segment GAAP operating margin | -24.2 | % | 2096.8 | % | -33.3 | % | 494.3 | % | 360.1 | % | ||||||||||
| Corporate and Other segment non-GAAP operating margin | 1.1 | % | 1.1 | % | 6.5 | % | 1.3 | % | 5.3 | % | ||||||||||
NXP Semiconductors Reports Fourth Quarter and Full-year 2018 Results
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