NXP Semiconductors
Table 4: Financial Reconciliation of GAAP to non-GAAP Results (unaudited)
| ($ in millions) | Three months ended | ||||||||||
| July 4, 2021 | April 4, 2021 | June 28, 2020 | |||||||||
| Revenue | $ | 2,596 | $ | 2,567 | $ | 1,817 | |||||
| GAAP Gross Profit | $ | 1,422 | $ | 1,355 | $ | 860 | |||||
| PPA Effects | (18) | (18) | (20) | ||||||||
| Stock Based Compensation | (12) | (12) | (11) | ||||||||
| Merger-related costs | — | — | (1) | ||||||||
| Other incidentals | (4) | (7) | — | ||||||||
| Non-GAAP Gross Profit | $ | 1,456 | $ | 1,392 | $ | 892 | |||||
| GAAP Gross margin | 54.8 | % | 52.8 | % | 47.3 | % | |||||
| Non-GAAP Gross margin | 56.1 | % | 54.2 | % | 49.1 | % | |||||
| GAAP Research and development | $ | (476) | $ | (461) | $ | (402) | |||||
| Restructuring | (1) | — | (6) | ||||||||
| Stock based compensation | (41) | (40) | (39) | ||||||||
| Other incidentals | 1 | (1) | — | ||||||||
| Non-GAAP Research and development | $ | (435) | $ | (420) | $ | (357) | |||||
| GAAP Selling, general and administrative | $ | (234) | $ | (222) | $ | (222) | |||||
| PPA effects | (2) | 0 | (2) | ||||||||
| Restructuring | — | — | (2) | ||||||||
| Stock based compensation | (40) | (39) | (55) | ||||||||
| Merger-related costs | — | — | (2) | ||||||||
| Other incidentals | (1) | (3) | (2) | ||||||||
| Non-GAAP Selling, general and administrative | $ | (191) | $ | (180) | $ | (159) | |||||
| GAAP amortization of acquisition-related intangible assets | $ | (139) | $ | (180) | $ | (380) | |||||
| PPA effects | (139) | (180) | (380) | ||||||||
| Non-GAAP amortization of acquisition-related intangible assets | $ | — | $ | — | $ | — | |||||
| GAAP Other income (expense) | $ | — | $ | — | $ | (1) | |||||
| Other incidentals | — | — | (1) | ||||||||
| Non-GAAP Other income (expense) | $ | — | $ | — | $ | — | |||||
| GAAP Operating income (loss) | $ | 573 | $ | 492 | $ | (145) | |||||
| PPA effects | (159) | (198) | (402) | ||||||||
| Restructuring | (1) | 0 | (8) | ||||||||
| Stock based compensation | (93) | (91) | (105) | ||||||||
| Merger-related costs | — | — | (3) | ||||||||
| Other incidentals | (4) | (11) | (3) | ||||||||
| Non-GAAP Operating income (loss) | $ | 830 | $ | 792 | $ | 376 | |||||
| GAAP Operating margin | 22.1 | % | 19.2 | % | (8.0) | % | |||||
| Non-GAAP Operating margin | 32.0 | % | 30.9 | % | 20.7 | % | |||||
| GAAP Financial income (expense) | $ | (100) | $ | (87) | $ | (96) | |||||
| Foreign exchange gain (loss) | (1) | — | (2) | ||||||||
| Other financial income (expense) | (8) | — | (2) | ||||||||
| Non-GAAP Financial income (expense) | $ | (91) | $ | (87) | $ | (92) | |||||
