| NXP Semiconductors | ||||||||||||||
| Table 3: Condensed consolidated statement of cash flows (unaudited) | ||||||||||||||
| ($ in millions) | Three Months Ended | |||||||||||||
| March 31, 2019 | December 31, 2018 | April 1, 2018 | ||||||||||||
| Cash Flows from operating activities | ||||||||||||||
| Net income (loss) | $ | (16 | ) | $ | 289 | $ | 70 | |||||||
| Adjustments to reconcile net income (loss): | ||||||||||||||
| Depreciation and amortization | 502 | 503 | 491 | |||||||||||
| Stock-based compensation | 86 | 93 | 69 | |||||||||||
| Amortization of discount on debt | 11 | 11 | 10 | |||||||||||
| Amortization of debt issuance costs | 3 | 3 | 3 | |||||||||||
| Results relating to equity accounted investees | (4 | ) | (1 | ) | (2 | ) | ||||||||
| Changes in deferred taxes | (63 | ) | (52 | ) | (42 | ) | ||||||||
| Changes in operating assets and liabilities: | ||||||||||||||
| (Increase) decrease in receivables and other current assets | (42 | ) | 51 | 81 | ||||||||||
| (Increase) decrease in inventories | 38 | 5 | (36 | ) | ||||||||||
| Increase (decrease) in accounts payable and other liabilities | (250 | ) | (188 | ) | (26 | ) | ||||||||
| Decrease (Increase) in other non-current assets | 20 | 4 | - | |||||||||||
| Exchange differences | 6 | 13 | 5 | |||||||||||
| Other items | 5 | - | (3 | ) | ||||||||||
| Net cash provided by (used for) operating activities | 296 | 731 | 620 | |||||||||||
| Cash flows from investing activities: | ||||||||||||||
| Purchase of identified intangible assets | (28 | ) | (4 | ) | (18 | ) | ||||||||
| Capital expenditures on property, plant and equipment | (144 | ) | (170 | ) | (156 | ) | ||||||||
| Proceeds from sale of interests in businesses, net of cash divested | 37 | - | - | |||||||||||
| Purchase of available-for-sale securities | (2 | ) | (2 | ) | - | |||||||||
| Proceeds from the sale of securities | 1 | 2 | - | |||||||||||
| Other | - | - | - | |||||||||||
| Net cash provided by (used for) investing activities | (136 | ) | (174 | ) | (174 | ) | ||||||||
| Cash flows from financing activities: | ||||||||||||||
| Repayment of Bridge Loan | - | (1,000 | ) | - | ||||||||||
| Proceeds from the issuance of long-term debt | - | 1,997 | - | |||||||||||
| Cash paid for debt issuance costs | - | (12 | ) | - | ||||||||||
| Cash paid for terminated acquisition adjustment event | - | (60 | ) | - | ||||||||||
| Dividends paid to common stockholders | (73 | ) | (74 | ) | - | |||||||||
| Proceeds from issuance of common stock through stock plans | 32 | 3 | 20 | |||||||||||
| Purchase of treasury shares | (715 | ) | (424 | ) | (30 | ) | ||||||||
| Cash paid on behalf of shareholders for tax on repurchased shares | - | (142 | ) | - | ||||||||||
| Net cash provided by (used for) financing activities | (756 | ) | 288 | (10 | ) | |||||||||
| Effect of changes in exchange rates on cash positions | (1 | ) | - | - | ||||||||||
| Increase (decrease) in cash and cash equivalents | (597 | ) | 845 | 436 | ||||||||||
| Cash and cash equivalents at beginning of period | 2,789 | 1,944 | 3,547 | |||||||||||
| Cash and cash equivalents at end of period | 2,192 | 2,789 | 3,983 | |||||||||||
| Net cash paid during the period for: | ||||||||||||||
| Interest | 25 | 74 | 21 | |||||||||||
| Income taxes | 209 | 61 | 44 | |||||||||||
| Non-cash adjustment related to the adoption of ASC 606: | ||||||||||||||
| Receivables and other current assets | - | - | (36 | ) | ||||||||||
| Inventories | - | - | 22 | |||||||||||
NXP Semiconductors Reports First Quarter 2019 Results
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