Silicon Laboratories Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)

Nine Months Ended

September 30,

 2023

October 1,

 2022

Operating Activities

Net income

$          35,271

$     66,041

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

   activities of continuing operations:

   Depreciation of property and equipment

18,992

16,514

   Amortization of other intangible assets

19,162

27,328

   Amortization of debt issuance costs 

960

1,492

   Loss on extinguishment of convertible debt

--

3

   Stock-based compensation expense

37,167

43,213

   Equity-method (earnings) loss

1,150

(2,985)

   Deferred income taxes

(5,881)

(13,126)

   Changes in operating assets and liabilities:

      Accounts receivable

(30,706)

21,641

      Inventories

(66,971)

(39,100)

      Prepaid expenses and other assets

8,085

(28,404)

      Accounts payable

(37,039)

26,694

      Other current liabilities and income taxes

(39,155)

17,962

      Deferred revenue and returns liability

3,286

(2,144)

      Other non-current liabilities

6,794

(7,713)

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

(48,885)

127,416

Investing Activities

Purchases of marketable securities

(91,493)

(579,507)

Sales of marketable securities

365,073

42,952

Maturities of marketable securities

171,766

597,399

Purchases of property and equipment

(18,533)

(20,057)

Purchases of other assets

(395)

--

Net cash provided by investing activities of continuing operations

426,418

40,787

Financing Activities

Proceeds from revolving line of credit

80,000

--

Payments on debt

(571,157)

(21)

Repurchases of common stock

(217,137)

(681,695)

Payment of taxes withheld for vested stock awards

(17,239)

(14,732)

Proceeds from the issuance of common stock

8,013

6,366

Net cash used in financing activities of continuing operations

(717,520)

(690,082)

Discontinued Operations

Operating activities

--

(69,467)

Net cash used in discontinued operations

--

(69,467)

Decrease in cash and cash equivalents

(339,987)

(591,346)

Cash and cash equivalents at beginning of period

499,915

1,074,623

Cash and cash equivalents at end of period

$  159,928

$   483,277