NXP Semiconductors
Table 5: Adjusted EBITDA and Free Cash Flow (unaudited)
| ($ in millions) | Three months ended | ||||||||||
|
March 29,
2020 |
December 31,
2019 |
March 31,
2019 | |||||||||
| Net income (loss) | $ | (13 | ) | $ | 123 | $ | (16 | ) | |||
| Reconciling items to adjusted net income | |||||||||||
| Financial (income) expense | 78 | 93 | 83 | ||||||||
| (Benefit) provision for income taxes | 2 | (20 | ) | (9 | ) | ||||||
| Depreciation | 133 | 131 | 124 | ||||||||
| Amortization | 407 | 391 | 378 | ||||||||
| Adjusted net income | $ | 607 | $ | 718 | $ | 560 | |||||
| Reconciling items to adjusted EBITDA | |||||||||||
| Results of equity-accounted investees | 1 | 1 | (4 | ) | |||||||
| Purchase accounting effect on inventory | 17 | 8 | — | ||||||||
| Restructuring | 11 | (1 | ) | 25 | |||||||
| Stock based costs | 107 | 89 | 86 | ||||||||
| Merger-related costs | 4 | 4 | 13 | ||||||||
| Other incidental items | (107 | ) | 4 | 6 | |||||||
| Adjusted EBITDA | $ | 640 | $ | 823 | $ | 686 | |||||
| Trailing twelve month adjusted EBITDA | $ | 3,054 | $ | 3,100 | $ | 3,111 | |||||
| ($ in millions) | Three months ended | ||||||||||
|
March 29,
2020 |
December 31,
2019 |
March 31,
2019 | |||||||||
| Net cash provided by (used for) operating activities | $ | 512 | $ | 814 | $ | 296 | |||||
| Net capital expenditures on property, plant and equipment | (143 | ) | (138 | ) | (144 | ) | |||||
| Non-GAAP free cash flow | $ | 369 | $ | 676 | $ | 152 | |||||
| Non-GAAP free cash flow as percent of Revenue | 18 | % | 29 | % | 7 | % | |||||
