Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Year Ended

December 30,
2023

December 31,
2022

Operating Activities

Net income (loss)

$     (34,516)

$     91,402

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

   operating activities of continuing operations:

   Depreciation of property and equipment

25,707

22,524

   Amortization of other intangible assets

25,374

34,071

   Amortization of debt discount and debt issuance costs 

960

2,003

   Loss on extinguishment of convertible debt

--

3

   Stock-based compensation expense

48,208

60,510

   Equity-method (earnings) loss

16,030

(3,400)

   Deferred income taxes

(11,815)

(18,240)

   Changes in operating assets and liabilities:

      Accounts receivable

42,142

26,876

      Inventories

(93,398)

(51,044)

      Prepaid expenses and other assets

(10,733)

(31,240)

      Accounts payable

(25,644)

36,797

      Other current liabilities and income taxes

(37,793)

(12,738)

      Deferred revenue and returns liability

(4,663)

(7,069)

      Other non-current liabilities

29,793

(9,181)

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

(30,348)

141,274

Investing Activities

Purchases of marketable securities

(103,485)

(607,237)

Sales of marketable securities

395,565

223,354

Maturities of marketable securities

200,530

650,946

Purchases of property and equipment

(22,282)

(26,525)

Purchases of other assets

(520)

--

Net cash provided by investing activities of continuing operations

469,808

240,538

Financing Activities

Proceeds from issuance of debt

80,000

--

Payments on debt

(571,157)

(21)

Repurchases of common stock

(217,137)

(883,424)

Payment of taxes withheld for vested stock awards

(18,189)

(15,387)

Proceeds from the issuance of common stock

14,612

11,779

Net cash used in financing activities of continuing operations

(711,871)

(887,053)

Discontinued Operations

Operating activities

--

(69,467)

Net cash used in discontinued operations

--

(69,467)

Decrease in cash and cash equivalents

(272,411)

(574,708)

Cash and cash equivalents at beginning of period

499,915

1,074,623

Cash and cash equivalents at end of period

$   227,504

$   499,915