XILINX, INC. |
|||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||
| (In thousands) | |||||
| January 2, 2021 | March 28, 2020* | ||||
| (unaudited) | |||||
| ASSETS | |||||
| Current assets: | |||||
| Cash, cash equivalents and short-term investments | $ |
3,324,425 |
$ |
2,267,216 |
|
| Accounts receivable, net |
|
269,605 |
|
273,028 |
|
| Inventories |
|
300,107 |
|
304,340 |
|
| Other current assets |
|
73,112 |
|
64,557 |
|
| Total current assets |
|
3,967,249 |
|
2,909,141 |
|
| Net property, plant and equipment |
|
351,513 |
|
372,574 |
|
| Other assets |
|
1,430,203 |
|
1,411,619 |
|
| Total Assets | $ |
5,748,965 |
$ |
4,693,334 |
|
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||
| Current liabilities: | |||||
| Accounts payable and accrued liabilities | $ |
614,227 |
$ |
586,421 |
|
| Current portion of long-term debt |
|
499,865 |
|
499,260 |
|
| Total current liabilities |
|
1,114,092 |
|
1,085,681 |
|
| Long-term debt |
|
1,492,377 |
|
747,110 |
|
| Other long-term liabilities |
|
543,605 |
|
545,494 |
|
| Stockholders' equity |
|
2,598,891 |
|
2,315,049 |
|
| Total Liabilities and Stockholders' Equity | $ |
5,748,965 |
$ |
4,693,334 |
|
| * Fiscal 2020 balances are derived from audited financial statements. | |||||
| XILINX, INC. | |||||||||||||||
| SUPPLEMENTAL FINANCIAL INFORMATION | |||||||||||||||
| (Unaudited) | |||||||||||||||
| (In thousands) | |||||||||||||||
| Three Months Ended |
Nine Months Ended |
||||||||||||||
| January 2, 2021 |
September 26, 2020 |
December 28, 2019 |
January 2, 2021 |
December 28, 2019 |
|||||||||||
| SELECTED CASH FLOW INFORMATION: | |||||||||||||||
| Depreciation and amortization of software | $ |
30,818 |
$ |
30,249 |
$ |
26,331 |
$ |
92,816 |
$ |
68,882 |
|||||
| Amortization - others |
|
17,133 |
|
15,316 |
|
15,276 |
|
47,508 |
|
37,326 |
|||||
| Stock-based compensation |
|
66,331 |
|
58,439 |
|
50,157 |
|
175,153 |
|
142,732 |
|||||
| Net cash provided by operating activities |
|
360,137 |
|
247,583 |
|
323,575 |
|
853,191 |
|
845,485 |
|||||
| Purchases of property, plant and equipment and software |
|
6,009 |
|
15,331 |
|
34,138 |
|
36,801 |
|
96,980 |
|||||
| Payment of dividends to stockholders |
|
93,155 |
|
93,105 |
|
92,931 |
|
278,674 |
|
280,376 |
|||||
| Repurchases of common stock |
|
- |
|
- |
|
260,939 |
|
53,682 |
|
738,184 |
|||||
| Taxes paid related to net share settlement of restricted stock units, net of proceeds from issuance of common stock |
|
4,560 |
|
30,072 |
|
3,565 |
|
37,871 |
|
55,541 |
|||||
| STOCK-BASED COMPENSATION INCLUDED IN: | |||||||||||||||
| Cost of revenues | $ |
3,465 |
$ |
2,963 |
$ |
2,961 |
$ |
9,149 |
$ |
8,386 |
|||||
| Research and development |
|
40,228 |
|
36,110 |
|
31,543 |
|
106,707 |
|
86,119 |
|||||
| Selling, general and administrative |
|
22,638 |
|
19,366 |
|
15,653 |
|
59,297 |
|
48,227 |
|||||
| XILINX, INC. | |||||||||||||||
| RECONCILIATIONS OF GAAP ACTUALS TO NON-GAAP ACTUALS | |||||||||||||||
| (Unaudited) | |||||||||||||||
| (In thousands, except per share amounts) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| January 2, 2021 |
September 26, 2020 | December 28, 2019 | January 2, 2021 | December 28, 2019 | |||||||||||
| GAAP gross margin | $ |
547,000 |
|
$ |
541,719 |
|
$ |
483,478 |
|
$ |
1,582,591 |
|
$ |
1,586,601 |
|
| Inventory valuation adjustment |
|
- |
|
|
- |
|
|
2,114 |
|
|
- |
|
|
3,856 |
|
| Amortization of acquisition-related intangibles |
|
6,875 |
|
|
6,696 |
|
|
6,697 |
|
|
20,268 |
|
|
15,699 |
|
| M&A related expenses |
|
114 |
|
|
- |
|
|
- |
|
|
114 |
|
|
- |
|
| Non-GAAP gross margin | $ |
553,989 |
|
$ |
548,415 |
|
$ |
492,289 |
|
$ |
1,602,973 |
|
$ |
1,606,156 |
|
| GAAP operating income | $ |
172,425 |
|
$ |
205,417 |
|
$ |
159,406 |
|
$ |
553,357 |
|
$ |
613,859 |
|
| Inventory valuation adjustment |
|
- |
|
|
- |
|
|
2,114 |
|
|
- |
|
|
3,856 |
|
| Amortization of acquisition-related intangibles |
|
9,731 |
|
|
9,558 |
|
|
9,616 |
|
|
28,849 |
|
|
21,187 |
|
| M&A related expenses |
|
19,150 |
|
|
1,506 |
|
|
3,042 |
|
|
22,219 |
|
|
12,393 |
|
| Non-GAAP operating income | $ |
201,306 |
|
$ |
216,481 |
|
$ |
174,178 |
|
$ |
604,425 |
|
$ |
651,295 |
|
| GAAP net income | $ |
170,972 |
|
$ |
193,816 |
|
$ |
162,012 |
|
$ |
458,625 |
|
$ |
630,463 |
|
| Inventory valuation adjustment |
|
- |
|
|
- |
|
|
2,114 |
|
|
- |
|
|
3,856 |
|
| Amortization of acquisition-related intangibles |
|
9,731 |
|
|
9,558 |
|
|
9,616 |
|
|
28,849 |
|
|
21,187 |
|
| M&A related expenses |
|
19,150 |
|
|
1,506 |
|
|
3,042 |
|
|
22,219 |
|
|
12,393 |
|
| Income tax effect of tax-related items |
|
(528 |
) |
|
- |
|
|
(3,697 |
) |
|
56,273 |
|
|
(1,838 |
) |
| Income tax effect of non-GAAP adjustments |
|
(5,100 |
) |
|
(1,470 |
) |
|
(2,316 |
) |
|
(8,160 |
) |
|
(6,133 |
) |
| Non-GAAP net income | $ |
194,225 |
|
$ |
203,410 |
|
$ |
170,771 |
|
$ |
557,806 |
|
$ |
659,928 |
|
| GAAP diluted EPS | $ |
0.69 |
|
$ |
0.79 |
|
$ |
0.64 |
|
$ |
1.86 |
|
$ |
2.47 |
|
| Inventory valuation adjustment |
|
- |
|
|
- |
|
|
0.01 |
|
|
- |
|
|
0.01 |
|
| Amortization of acquisition-related intangibles |
|
0.04 |
|
|
0.03 |
|
|
0.04 |
|
|
0.12 |
|
|
0.08 |
|
| M&A related expenses |
|
0.07 |
|
|
0.01 |
|
|
0.01 |
|
|
0.08 |
|
|
0.05 |
|
| Income tax effect of tax-related items |
|
- |
|
|
- |
|
|
(0.01 |
) |
|
0.23 |
|
|
(0.01 |
) |
| Income tax effect of non-GAAP adjustments |
|
(0.02 |
) |
|
(0.01 |
) |
|
(0.01 |
) |
|
(0.03 |
) |
|
(0.02 |
) |
| Non-GAAP diluted EPS | $ |
0.78 |
|
$ |
0.82 |
|
$ |
0.68 |
|
$ |
2.26 |
|
$ |
2.58 |
|
| GAAP cash flow from operations | $ |
360,137 |
|
$ |
247,583 |
|
$ |
323,575 |
|
$ |
853,191 |
|
$ |
845,485 |
|
| Capital expenditures (including software) |
|
(6,009 |
) |
|
(15,331 |
) |
|
(34,138 |
) |
|
(36,801 |
) |
|
(96,980 |
) |
| Free cash flow | $ |
354,128 |
|
$ |
232,252 |
|
$ |
289,437 |
|
$ |
816,390 |
|
$ |
748,505 |
|
