Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Six Months Ended

July 1,

 2023

July 2,

 2022

Operating Activities

Net income

$     24,923

$     45,042

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

   activities of continuing operations:

   Depreciation of property and equipment

12,441

10,561

   Amortization of other intangible assets

12,904

19,194

   Amortization of debt issuance costs 

960

994

   Loss on extinguishment of convertible debt

--

3

   Stock-based compensation expense

31,377

27,264

   Equity-method (earnings) loss

1,090

(1,166)

   Deferred income taxes

(6,403)

(9,344)

   Changes in operating assets and liabilities:

      Accounts receivable

(26,819)

26,207

      Inventories

(45,064)

(24,714)

      Prepaid expenses and other assets

32,963

(25,286)

      Accounts payable

(30,003)

25,606

      Other current liabilities and income taxes

(26,220)

(3,418)

      Deferred revenue and returns liability

4,326

(3,153)

      Other non-current liabilities

(1,975)

(4,416)

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

(15,500)

83,374

Investing Activities

Purchases of marketable securities

(81,427)

(554,267)

Sales of marketable securities

339,555

27,404

Maturities of marketable securities

171,691

511,296

Purchases of property and equipment

(13,462)

(12,322)

Purchases of other assets

(215)

--

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

416,142

(27,889)

Financing Activities

Proceeds from revolving line of credit

80,000

--

Payments on debt

(536,124)

(21)

Repurchases of common stock

(201,095)

(579,040)

Payment of taxes withheld for vested stock awards

(16,310)

(13,958)

Proceeds from the issuance of common stock

7,785

6,365

Net cash used in financing activities of continuing operations

(665,744)

(586,654)

Discontinued Operations

Operating activities

--

(38,604)

Net cash used in discontinued operations

--

(38,604)

Decrease in cash and cash equivalents

(265,102)

(569,773)

Cash and cash equivalents at beginning of period

499,915

1,074,623

Cash and cash equivalents at end of period

$   234,813

$   504,850