Mobileye Discloses Second Quarter 2023 Results, Updates Guidance and Provides Business Update

Mobileye Global Inc.
Condensed Consolidated Cash Flows (unaudited)

 

 

Six Months Ended

U.S. dollars in millions

 

July 1, 2023

 

July 2, 2022

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

Net income (loss)

 

$

(107)

 

$

(67)

 

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

 

 

 

 

 

Depreciation of property and equipment

 

 

15

 

 

10

 

Share-based compensation

 

 

127

 

 

76

 

Amortization of intangible assets

 

 

251

 

 

282

 

Exchange rate differences on cash and cash equivalents

 

 

5

 

 

3

 

Deferred income taxes

 

 

(10)

 

 

2

 

Interest on Dividend Note to related party, net

 

 

 

 

9

 

Interest with related party, net

 

 

16

 

 

27

 

Other

 

 

 

 

(3)

 

Changes in operating assets and liabilities:

 

 

 

 

 

Decrease (increase) in trade accounts receivable

 

 

29

 

 

(59)

 

Decrease (increase) in other current assets

 

 

21

 

 

29

 

Decrease (increase) in inventories

 

 

(150)

 

 

(1)

 

Increase (decrease) in accounts payable, accrued expenses and related party payable

 

 

3

 

 

(5)

 

Increase (decrease) in employee-related accrued expenses and long term benefits

 

 

(2)

 

 

(81)

 

Increase (decrease) in other current liabilities

 

 

(2)

 

 

(3)

 

Decrease (increase) in other long term assets

 

 

1

 

 

17

 

Increase (decrease) in long-term liabilities

 

 

 

 

(3)

 

Net cash provided by operating activities

 

 

197

 

 

233

 

CASH FLOWS FROM INVESTING ACTIVITIES

 

 

 

 

 

Purchase of property and equipment

 

 

(58)

 

 

(53)

 

Repayment of loan due from related party

 

 

 

 

733

 

Issuance of loan to related party

 

 

 

 

(336)

 

Net cash provided by (used in) investing activities

 

 

(58)

 

 

344

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

 

Net transfers from Parent

 

 

 

 

121

 

Dividend paid

 

 

 

 

(336)

 

Share-based compensation recharge

 

 

(12)

 

 

(186)

 

Deferred offering costs

 

 

 

 

(14)

 

Net cash provided by (used in) financing activities

 

 

(12)

 

 

(415)

 

Effect of foreign exchange rate changes on cash and cash equivalents

 

 

(5)

 

 

(3)

 

Increase in cash, cash equivalents and restricted cash

 

 

122

 

 

159

 

Balance of cash, cash equivalents and restricted cash, at beginning of year

 

 

1,035

 

 

625

 

Balance of cash, cash equivalents and restricted cash, at end of period

 

$

1,157

 

$

784

 


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