Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Three Months Ended

April 2,
2022

April 3,
2021

Operating Activities

Net income

$    22,907

$  13,509

Adjustments to reconcile net income to cash provided by (used in)

   operating activities of continuing operations:

   Income from discontinued operations, net of income taxes

--

(38,665)

   Depreciation of property and equipment

5,156

4,108

   Amortization of other intangible assets

10,351

11,451

   Amortization of debt discount and debt issuance costs 

496

6,456

   Loss on extinguishment of convertible debt

--

3,370

   Stock-based compensation expense

12,875

11,368

   Equity-method earnings

(1,194)

(1,726)

   Deferred income taxes

(4,202)

(3,197)

   Changes in operating assets and liabilities:

      Accounts receivable

19,080

(8,530)

      Inventories

(6,215)

(4,908)

      Prepaid expenses and other assets

1,704

(12,735)

      Accounts payable

8,932

14,116

      Other current liabilities and income taxes

8,345

(13,432)

      Deferred revenue and returns liability

7,791

463

      Other non-current liabilities

(817)

(1,972)

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

85,209

(20,324)

Investing Activities

Purchases of marketable securities

(435,690)

(8,251)

Sales of marketable securities

9,106

121,557

Maturities of marketable securities

213,750

39,835

Purchases of property and equipment

(4,554)

(5,705)

Purchases of other assets

--

(578)

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

(217,388)

146,858

Financing Activities

Payments on debt

--

(140,572)

Repurchases of common stock

(157,778)

--

Payment of taxes withheld for vested stock awards

(8,755)

(17,817)

Net cash used in financing activities of continuing operations

(166,533)

(158,389)

Discontinued Operations

Operating activities

(10,000)

34,827

Investing activities

--

(468)

Net cash provided by (used in) discontinued operations

(10,000)

34,359

Increase (decrease) in cash and cash equivalents

(308,712)

2,504

Cash and cash equivalents at beginning of period

1,074,623

202,720

Cash and cash equivalents at end of period

$  765,911

$205,224