Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Three Months Ended

March 30,
2019

March 31,
2018

Operating Activities

Net income

$    5,398

$  26,405

Adjustments to reconcile net income to cash provided by operating activities:

   Depreciation of property and equipment

4,137

3,704

   Amortization of other intangible assets and other assets

10,320

6,427

   Amortization of debt discount and debt issuance costs 

3,321

3,169

   Stock-based compensation expense

12,584

12,192

   Deferred income taxes

(3,530)

(4,780)

   Changes in operating assets and liabilities:

      Accounts receivable

3,323

(3,307)

      Inventories

4,488

(3,368)

      Prepaid expenses and other assets

6,410

(17,169)

      Accounts payable

714

13,030

      Other current liabilities and income taxes

(15,996)

(9,643)

      Deferred income, deferred revenue and returns liability

1,477

(2,599)

      Other non-current liabilities

(631)

(1,849)

Net cash provided by operating activities

32,015

22,212

Investing Activities

Purchases of available-for-sale investments

(63,577)

(52,821)

Sales and maturities of available-for-sale investments

99,068

128,975

Purchases of property and equipment

(3,874)

(4,102)

Purchases of other assets

(414)

(4,698)

Net cash provided by investing activities

31,203

67,354

Financing Activities

Repurchases of common stock

(15,004)

--

Payment of taxes withheld for vested stock awards

(14,113)

(17,871)

Proceeds from the issuance of common stock

--

1,211

Net cash used in financing activities

(29,117)

(16,660)

Increase in cash and cash equivalents

34,101

72,906

Cash and cash equivalents at beginning of period

197,043

269,366

Cash and cash equivalents at end of period

$231,144

$342,272