| NXP Semiconductors | ||||||||||||
| Table 3: Condensed consolidated statement of cash flows (unaudited) | ||||||||||||
| ($ in millions) | Three Months Ended | |||||||||||
| June 30, 2019 | March 31, 2019 | July 1, 2018 | ||||||||||
| Cash Flows from operating activities | ||||||||||||
| Net income (loss) | $ | 46 | $ | (16 | ) | $ | 66 | |||||
| Adjustments to reconcile net income (loss): | ||||||||||||
| Depreciation and amortization | 506 | 502 | 496 | |||||||||
| Stock-based compensation | 87 | 86 | 69 | |||||||||
| Amortization of discount on debt | 11 | 11 | 11 | |||||||||
| Amortization of debt issuance costs | 3 | 3 | 2 | |||||||||
| Net (gain) loss on sale of assets | 1 | - | - | |||||||||
| (Gain) loss on extinguishment of debt | 10 | - | 26 | |||||||||
| Results relating to equity accounted investees | 1 | (4 | ) | 1 | ||||||||
| Changes in deferred taxes | (30 | ) | (63 | ) | (67 | ) | ||||||
| Changes in operating assets and liabilities: | ||||||||||||
| (Increase) decrease in receivables and other current assets | 31 | (42 | ) | 86 | ||||||||
| (Increase) decrease in inventories | 84 | 38 | (76 | ) | ||||||||
| Increase (decrease) in accounts payable and other current liabilities | (218 | ) | (250 | ) | (225 | ) | ||||||
| Decrease (Increase) in other non-current assets | (14 | ) | 20 | 10 | ||||||||
| Exchange differences | 1 | 6 | (5 | ) | ||||||||
| Other items | (2 | ) | 5 | 9 | ||||||||
| Net cash provided by (used for) operating activities | 517 | 296 | 403 | |||||||||
| Cash flows from investing activities: | ||||||||||||
| Purchase of identified intangible assets | (23 | ) | (28 | ) | (10 | ) | ||||||
| Capital expenditures on property, plant and equipment | (106 | ) | (144 | ) | (129 | ) | ||||||
| Purchase of interests in businesses, net of cash acquired | - | - | (18 | ) | ||||||||
| Proceeds from sale of interests in businesses, net of cash divested | - | 37 | 32 | |||||||||
| Purchase of available-for-sale securities | (15 | ) | (2 | ) | (7 | ) | ||||||
| Proceeds from the sale of securities | - | 1 | - | |||||||||
| Net cash provided by (used for) investing activities | (144 | ) | (136 | ) | (132 | ) | ||||||
| Cash flows from financing activities: | ||||||||||||
| Repurchase of long-term debt | (553 | ) | - | (1,273 | ) | |||||||
| Principal payments on long-term debt | - | - | (1 | ) | ||||||||
| Proceeds from the issuance of long-term debt | 1,750 | - | - | |||||||||
| Cash paid for debt issuance costs | (23 | ) | - | - | ||||||||
| Dividends paid to common stockholders | (71 | ) | (73 | ) | - | |||||||
| Cash proceeds from exercise of stock options | 5 | 32 | 10 | |||||||||
| Purchase of treasury shares | (645 | ) | (715 | ) | (2 | ) | ||||||
| Net cash provided by (used for) financing activities | 463 | (756 | ) | (1,266 | ) | |||||||
| Effect of changes in exchange rates on cash positions | 2 | (1 | ) | (7 | ) | |||||||
| Increase (decrease) in cash and cash equivalents | 838 | (597 | ) | (1,002 | ) | |||||||
| Cash and cash equivalents at beginning of period | 2,192 | 2,789 | 3,983 | |||||||||
| Cash and cash equivalents at end of period | 3,030 | 2,192 | 2,981 | |||||||||
| Net cash paid during the period for: | ||||||||||||
| Interest | 78 | 25 | 75 | |||||||||
| Income taxes | 66 | 209 | 3 | |||||||||
NXP Semiconductors Reports Second Quarter 2019 Results
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