Mobileye Releases Fourth-Quarter and Full-Year 2023 Results and Provides Business Overview

Mobileye Global Inc.
Consolidated Cash Flows (unaudited)

 

 

Year Ended

U.S. dollars in millions

 

December 30,

2023

 

December 31,

2022

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

Net income (loss)

 

$

(27

)

 

$

(82

)

 

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

 

 

 

 

 

Depreciation of property and equipment

 

 

39

 

 

 

23

 

 

Share-based compensation

 

 

252

 

 

 

174

 

 

Amortization of intangible assets

 

 

474

 

 

 

544

 

 

Exchange rate differences on cash and cash equivalents

 

 

5

 

 

 

6

 

 

Deferred income taxes

 

 

(14

)

 

 

(9

)

 

Interest on Dividend Note to related party, net

 

 

 

 

 

18

 

 

Interest with related party, net

 

 

16

 

 

 

12

 

 

Other

 

 

1

 

 

 

(2

)

 

Changes in operating assets and liabilities:

 

 

 

 

 

Decrease (increase) in trade accounts receivables

 

 

(88

)

 

 

(114

)

 

Decrease (increase) in other current assets

 

 

8

 

 

 

(10

)

 

Decrease (increase) in inventories

 

 

(278

)

 

 

(16

)

 

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

 

 

10

 

 

 

58

 

 

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

 

 

(1

)

 

 

(52

)

 

Increase (decrease) in other current-liabilities

 

 

(7

)

 

 

(16

)

 

Decrease (increase) in other long term assets

 

 

(3

)

 

 

17

 

 

Increase (decrease) in long term liabilities

 

 

7

 

 

 

(5

)

 

Net cash provided by operating activities

 

 

394

 

 

 

546

 

 

CASH FLOWS FROM INVESTING ACTIVITIES

 

 

 

 

 

Purchase of property and equipment

 

 

(98

)

 

 

(111

)

 

Repayment of loan due from related party

 

 

 

 

 

1,635

 

 

Issuance of loan to related party

 

 

 

 

 

(336

)

 

Other

 

 

 

 

 

(1

)

 

Net cash provided by (used in) investing activities

 

 

(98

)

 

 

1,187

 

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

 

Net transfers from Parent

 

 

 

 

 

84

 

 

Dividend paid

 

 

 

 

 

(337

)

 

Share-based compensation recharge

 

 

(100

)

 

 

(280

)

 

Proceeds from initial public offering, net of offering costs

 

 

 

 

 

1,034

 

 

Equity transaction in connection with the legal purchase of Moovit entities

 

 

 

 

 

(900

)

 

Repayment of Dividend Note with related party

 

 

 

 

 

(918

)

 

Net cash provided by (used in) financing activities

 

 

(100

)

 

 

(1,317

)

 

Effect of foreign exchange rate changes on cash and cash equivalents

 

 

(5

)

 

 

(6

)

 

Increase in cash, cash equivalents and restricted cash

 

 

191

 

 

 

410

 

 

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 year

 

$

1,226

 

 

$

1,035

 

 


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