Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Nine Months Ended

October 2,
2021

October 3,
2020

Operating Activities

Net income

$2,120,497

$    3,583

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

   continuing operations:

   Income from discontinued operations, net of income taxes

(2,183,884)

(97,721)

   Depreciation of property and equipment

12,925

11,789

   Amortization of intangible assets and other assets

33,971

31,118

   Amortization of debt discount and debt issuance costs 

17,278

14,946

   Loss on extinguishment of convertible debt

3,370

3,977

   Stock-based compensation expense

36,916

36,252

   Deferred income taxes

(3,132)

(7,382)

   Changes in operating assets and liabilities:

      Accounts receivable

22,573

(2,902)

      Inventories

(11,320)

12,499

      Prepaid expenses and other assets

27,598

(5,602)

      Accounts payable

(4,522)

6,103

      Other current liabilities and income taxes

(10,981)

3,608

      Deferred revenue and returns liability

(1,657)

2,643

      Other non-current liabilities

(11,388)

7,525

Net cash provided by operating activities of continuing operations

48,244

20,436

Investing Activities

Purchases of marketable securities

(1,212,572)

(418,227)

Sales and maturities of marketable securities

368,416

427,235

Purchases of property and equipment

(19,468)

(13,589)

Purchases of other assets

(578)

(920)

Acquisition of business, net of cash acquired

--

(316,809)

Net cash used in investing activities of continuing operations

(864,202)

(322,310)

Financing Activities

Proceeds from issuance of debt

--

845,000

Payments on debt

(140,572)

(618,729)

Repurchases of common stock

(688,373)

(16,287)

Payment of taxes withheld for vested stock awards

(21,393)

(17,562)

Proceeds from the issuance of common stock

8,619

8,155

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

200,577

Discontinued Operations

Operating activities

69,685

106,527

Investing activities

2,747,684

(2,018)

Net cash provided by discontinued operations

2,817,369

104,509

Increase in cash and cash equivalents

1,159,692

3,212

Cash and cash equivalents at beginning of period

202,720

227,146

Cash and cash equivalents at end of period

$1,362,412

$230,358