Silicon Labs Announces Record Revenue for Second Quarter 2021

 

Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)



Six Months Ended


July 3,
2021


July 4,
2020


Operating Activities





Net income

$ 33,441


$       421


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

   continuing operations:





   Income from discontinued operations, net of income taxes

(77,088)


(67,857)


   Depreciation of property and equipment

8,184


7,711


   Amortization of intangible assets and other assets

22,902


20,486


   Amortization of debt discount and debt issuance costs 

11,822


8,359


   Loss on extinguishment of convertible debt

3,370


3,685


   Stock-based compensation expense

22,620


24,461


   Deferred income taxes

(5,644)


1,177


   Changes in operating assets and liabilities:





      Accounts receivable

(4,377)


7,070


      Inventories

(4,447)


8,021


      Prepaid expenses and other assets

(5,489)


22,976


      Accounts payable

14,711


(769)


      Other current liabilities and income taxes

(10,626)


(15,480)


      Deferred revenue and returns liability

(175)


6,678


      Other non-current liabilities

(3,464)


1,146


Net cash provided by operating activities of continuing operations

5,740


28,085







Investing Activities





Purchases of marketable securities

(80,426)


(199,347)


Sales and maturities of marketable securities

286,649


255,112


Purchases of property and equipment

(10,779)


(9,051)


Purchases of other assets

(578)


(820)


Acquisition of business, net of cash acquired

--


(316,809)


Net cash provided by (used in) investing activities of continuing operations

194,866


(270,915)







Financing Activities





Proceeds from issuance of debt

--


845,000


Payments on debt

(140,572)


(597,446)


Repurchases of common stock

(18,982)


(16,287)


Payment of taxes withheld for vested stock awards

(19,732)


(16,756)


Proceeds from the issuance of common stock

8,388


7,757


Net cash provided by (used in) financing activities of continuing operations

(170,898)


222,268







Discontinued Operations





Operating activities

72,674


72,418


Investing activities

(2,018)


(1,343)


Net cash provided by (used in) discontinued operations

70,656


71,075







Increase in cash and cash equivalents

100,364


50,513


Cash and cash equivalents at beginning of period

202,720


227,146


Cash and cash equivalents at end of period

$303,084


$277,659



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