NXP Semiconductors
Table 3: Condensed consolidated statement of cash flows (unaudited)
| ($ in millions) | Three months ended | Full-year | |||||||||||||||||
|
December 31,
2023 |
October 1,
2023 |
December 31,
2022 | 2023 | 2022 | |||||||||||||||
| Cash flows from operating activities: | |||||||||||||||||||
| Net income (loss) | $ | 703 | $ | 792 | $ | 734 | $ | 2,822 | $ | 2,833 | |||||||||
| Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: | |||||||||||||||||||
| Depreciation and amortization | 269 | 273 | 302 | 1,106 | 1,250 | ||||||||||||||
| Share-based compensation | 107 | 103 | 97 | 411 | 364 | ||||||||||||||
| Amortization of discount (premium) on debt, net | — | 1 | — | 2 | 2 | ||||||||||||||
| Amortization of debt issuance costs | 2 | 2 | 2 | 8 | 7 | ||||||||||||||
| Net (gain) loss on sale of assets | — | — | 2 | (1 | ) | — | |||||||||||||
| (Gain) loss on extinguishment of debt | — | — | — | — | 18 | ||||||||||||||
| Results relating to equity-accounted investees | 2 | 2 | 6 | 7 | 1 | ||||||||||||||
| (Gain) loss on equity securities, net | — | 4 | (2 | ) | (1 | ) | 4 | ||||||||||||
| Deferred tax expense (benefit) | (97 | ) | (33 | ) | (40 | ) | (267 | ) | (236 | ) | |||||||||
| Changes in operating assets and liabilities: | |||||||||||||||||||
| (Increase) decrease in receivables and other current assets | (20 | ) | 40 | 59 | (138 | ) | (106 | ) | |||||||||||
| (Increase) decrease in inventories | 6 | (34 | ) | (201 | ) | (353 | ) | (593 | ) | ||||||||||
| Increase (decrease) in accounts payable and other liabilities | 101 | (128 | ) | 88 | (119 | ) | 633 | ||||||||||||
| (Increase) decrease in other non-current assets | 65 | (49 | ) | 19 | 16 | (306 | ) | ||||||||||||
| Exchange differences | 7 | 5 | 19 | 22 | 17 | ||||||||||||||
| Other items | (8 | ) | 10 | (9 | ) | (2 | ) | 7 | |||||||||||
| Net cash provided by (used for) operating activities | 1,137 | 988 | 1,076 | 3,513 | 3,895 | ||||||||||||||
| Cash flows from investing activities: | |||||||||||||||||||
| Purchase of identified intangible assets | (44 | ) | (42 | ) | (37 | ) | (179 | ) | (159 | ) | |||||||||
| Capital expenditures on property, plant and equipment | (175 | ) | (200 | ) | (233 | ) | (827 | ) | (1,063 | ) | |||||||||
| Purchase of equipment leased to others | — | — | — | — | (5 | ) | |||||||||||||
| Proceeds from the disposals of property, plant and equipment | — | — | — | 1 | 2 | ||||||||||||||
| Purchase of interests in businesses, net of cash acquired | — | — | — | — | (27 | ) | |||||||||||||
| Investment in short-term deposits | (409 | ) | — | — | (409 | ) | — | ||||||||||||
| Purchase of investments | (1 | ) | (31 | ) | (11 | ) | (94 | ) | (20 | ) | |||||||||
| Proceeds from the sale of investments | — | — | 1 | — | 13 | ||||||||||||||
| Proceeds from return of equity investments | — | — | 8 | — | 10 | ||||||||||||||
| Net cash provided by (used for) investing activities | (629 | ) | (273 | ) | (272 | ) | (1,508 | ) | (1,249 | ) | |||||||||
| Cash flows from financing activities: | |||||||||||||||||||
| Repurchase of long-term debt | — | — | — | — | (917 | ) | |||||||||||||
| Proceeds from the issuance of long-term debt | — | — | — | — | 1,496 | ||||||||||||||
| Cash paid for debt issuance costs | — | — | (1 | ) | — | (14 | ) | ||||||||||||
| Dividends paid to common stockholders | (261 | ) | (262 | ) | (221 | ) | (1,006 | ) | (815 | ) | |||||||||
| Proceeds from issuance of common stock through stock plans | 1 | 36 | 1 | 71 | 59 | ||||||||||||||
| Purchase of treasury shares and restricted stock unit
withholdings | (434 | ) | (306 | ) | (506 | ) | (1,053 | ) | (1,426 | ) | |||||||||
| Other, net | — | (1 | ) | (1 | ) | (2 | ) | (2 | ) | ||||||||||
| Net cash provided by (used for) financing activities | (694 | ) | (533 | ) | (728 | ) | (1,990 | ) | (1,619 | ) | |||||||||
| Effect of changes in exchange rates on cash positions | 6 | (3 | ) | 10 | 2 | (12 | ) | ||||||||||||
| Increase (decrease) in cash and cash equivalents | (180 | ) | 179 | 86 | 17 | 1,015 | |||||||||||||
| Cash and cash equivalents at beginning of period | 4,042 | 3,863 | 3,759 | 3,845 | 2,830 | ||||||||||||||
| Cash and cash equivalents at end of period | 3,862 | 4,042 | 3,845 | 3,862 | 3,845 | ||||||||||||||
| Net cash paid during the period for: | |||||||||||||||||||
| Interest | 83 | 38 | 106 | 261 | 323 | ||||||||||||||
| Income taxes, net of refunds | 221 | 165 | 126 | 919 | 558 | ||||||||||||||
| Net gain (loss) on sale of assets: | |||||||||||||||||||
| Cash proceeds from the sale of assets | — | — | — | 1 | 2 | ||||||||||||||
| Book value of these assets | — | — | (2 | ) | — | (2 | ) | ||||||||||||
| Non-cash investing activities: | |||||||||||||||||||
| Non-cash capital expenditures | 266 | 167 | 232 | 266 | 232 | ||||||||||||||
