Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Three Months Ended

April 1,
2023

April 2,
2022

Operating Activities

Net income

$   13,967

$      22,907

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

   activities of continuing operations:

   Depreciation of property and equipment

6,235

5,156

   Amortization of other intangible assets

6,510

10,351

   Amortization of debt issuance costs 

523

496

   Stock-based compensation expense

16,638

12,875

   Equity-method earnings (loss)

1,033

(1,194)

   Deferred income taxes

(2,670)

(4,202)

   Changes in operating assets and liabilities:

      Accounts receivable

(16,257)

19,080

      Inventories

(32,794)

(6,215)

      Prepaid expenses and other assets

11,530

1,704

      Accounts payable

(12,966)

8,932

      Other current liabilities and income taxes

(8,529)

8,345

      Deferred revenue and returns liability

4,478

7,791

      Other non-current liabilities

(978)

(817)

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

(13,280)

85,209

Investing Activities

Purchases of marketable securities

(66,113)

(435,690)

Sales of marketable securities

170,317

9,106

Maturities of marketable securities

157,734

213,750

Purchases of property and equipment

(7,657)

(4,554)

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

254,281

(217,388)

Financing Activities

Repurchases of common stock

(17,608)

(157,778)

Payment of taxes withheld for vested stock awards

(6,931)

(8,755)

Net cash used in financing activities of continuing operations

(24,539)

(166,533)

Discontinued Operations

Operating activities

--

(10,000)

Net cash used in discontinued operations

--

(10,000)

Increase (decrease) in cash and cash equivalents

216,462

(308,712)

Cash and cash equivalents at beginning of period

499,915

1,074,623

Cash and cash equivalents at end of period

$716,377

$   765,911