NXP Semiconductors
Table 3: Condensed consolidated statement of cash flows (unaudited)
| ($ in millions) | Three months ended | ||||||||||
| October 2, 2022 | July 3, 2022 | October 3, 2021 | |||||||||
| Cash flows from operating activities: | |||||||||||
| Net income (loss) | $ | 750 | $ | 683 | $ | 526 | |||||
| Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: | |||||||||||
| Depreciation and amortization | 321 | 317 | 306 | ||||||||
| Stock-based compensation | 89 | 89 | 81 | ||||||||
| Amortization of discount (premium) on debt, net | 1 | — | — | ||||||||
| Amortization of debt issuance costs | 2 | 1 | 2 | ||||||||
| Net (gain) loss on sale of assets | (1 | ) | — | — | |||||||
| (Gain) loss on extinguishment of debt | — | 18 | — | ||||||||
| Results relating to equity-accounted investees | 4 | 3 | (3 | ) | |||||||
| (Gain) loss on equity securities, net | 2 | 8 | (4 | ) | |||||||
| Deferred tax expense (benefit) | (98 | ) | (65 | ) | (6 | ) | |||||
| Changes in operating assets and liabilities: | |||||||||||
| (Increase) decrease in receivables and other current assets | (54 | ) | (50 | ) | 16 | ||||||
| (Increase) decrease in inventories | (119 | ) | (151 | ) | (57 | ) | |||||
| Increase (decrease) in accounts payable and other liabilities | 275 | 4 | 118 | ||||||||
| (Increase) decrease in other non-current assets | (37 | ) | (41 | ) | (46 | ) | |||||
| Exchange differences | 1 | (3 | ) | (3 | ) | ||||||
| Other items | 8 | 6 | (6 | ) | |||||||
| Net cash provided by (used for) operating activities | 1,144 | 819 | 924 | ||||||||
| Cash flows from investing activities: | |||||||||||
| Purchase of identified intangible assets | (50 | ) | (29 | ) | (27 | ) | |||||
| Capital expenditures on property, plant and equipment | (282 | ) | (268 | ) | (201 | ) | |||||
| Purchase of equipment leased to others | — | — | (14 | ) | |||||||
| Insurance recoveries received for equipment damage | — | — | 7 | ||||||||
| Proceeds from the disposals of property, plant and equipment | 1 | — | 1 | ||||||||
| Purchase of interests in businesses, net of cash acquired | (22 | ) | (1 | ) | (16 | ) | |||||
| Purchase of investments | (7 | ) | (2 | ) | — | ||||||
| Proceeds from the sale of investments | — | 12 | — | ||||||||
| Proceeds from return of equity investments | — | — | 2 | ||||||||
| Net cash provided by (used for) investing activities | (360 | ) | (288 | ) | (248 | ) | |||||
| Cash flows from financing activities: | |||||||||||
| Repurchase of long-term debt | — | (917 | ) | — | |||||||
| Proceeds from the issuance of long-term debt | — | 1,496 | — | ||||||||
| Cash paid for debt issuance costs | — | (12 | ) | — | |||||||
| Dividends paid to common stockholders | (223 | ) | (222 | ) | (152 | ) | |||||
| Proceeds from issuance of common stock through stock plans | 30 | — | 29 | ||||||||
| Purchase of treasury shares and restricted stock unit withholdings | (366 | ) | 1) | (2 | ) | (1,157 | ) | ||||
| Other, net | — | (1 | ) | — | |||||||
| Net cash provided by (used for) financing activities | (559 | ) | 342 | (1,280 | ) | ||||||
| Effect of changes in exchange rates on cash positions | (11 | ) | (11 | ) | (3 | ) | |||||
| Increase (decrease) in cash and cash equivalents | 214 | 862 | (607 | ) | |||||||
| Cash and cash equivalents at beginning of period | 3,545 | 2,683 | 2,910 | ||||||||
| Cash and cash equivalents at end of period | 3,759 | 3,545 | 2,303 | ||||||||
| Net cash paid during the period for: | |||||||||||
| Interest | 39 | 133 | 56 | ||||||||
| Income taxes, net of refunds | 160 | 150 | 89 | ||||||||
| Net gain (loss) on sale of assets: | |||||||||||
| Cash proceeds from the sale of assets | 1 | — | — | ||||||||
| Book value of these assets | — | — | — | ||||||||
| Non-cash investing activities: | |||||||||||
| Non-cash capital expenditures | 176 | 243 | 224 | ||||||||
