NXP Semiconductors
Table 3: Condensed consolidated statement of cash flows (unaudited)
| ($ in millions) | Three months ended | ||||||||||
| June 30, 2024 | March 31, 2024 | July 2, 2023 | |||||||||
| Cash flows from operating activities: | |||||||||||
| Net income (loss) | $ | 664 | $ | 644 | $ | 704 | |||||
| Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: | |||||||||||
| Depreciation and amortization | 213 | 235 | 281 | ||||||||
| Share-based compensation | 114 | 115 | 102 | ||||||||
| Amortization of discount (premium) on debt, net | 1 | 1 | — | ||||||||
| Amortization of debt issuance costs | 1 | 2 | 2 | ||||||||
| Net (gain) loss on sale of assets | — | (2 | ) | (1 | ) | ||||||
| Results relating to equity-accounted investees | 3 | 1 | 1 | ||||||||
| (Gain) loss on equity securities, net | 3 | 2 | (6 | ) | |||||||
| Deferred tax expense (benefit) | (23 | ) | (64 | ) | (75 | ) | |||||
| Changes in operating assets and liabilities: | |||||||||||
| (Increase) decrease in receivables and other current assets | 10 | (25 | ) | (20 | ) | ||||||
| (Increase) decrease in inventories | (46 | ) | 32 | (129 | ) | ||||||
| Increase (decrease) in accounts payable and other liabilities | (220 | ) | (102 | ) | (144 | ) | |||||
| (Increase) decrease in other non-current assets | 40 | 6 | 33 | ||||||||
| Exchange differences | 5 | 3 | 5 | ||||||||
| Other items | (4 | ) | 3 | 3 | |||||||
| Net cash provided by (used for) operating activities | 761 | 851 | 756 | ||||||||
| Cash flows from investing activities: | |||||||||||
| Purchase of identified intangible assets | (55 | ) | (32 | ) | (51 | ) | |||||
| Capital expenditures on property, plant and equipment | (185 | ) | (226 | ) | (201 | ) | |||||
| Insurance recoveries received for equipment damage | — | 2 | — | ||||||||
| Proceeds from the disposals of property, plant and equipment | 1 | 2 | 1 | ||||||||
| Proceeds of short-term deposits | — | 9 | — | ||||||||
| Purchase of investments | — | (34 | ) | (4 | ) | ||||||
| Proceeds from the sale of investments | — | 5 | — | ||||||||
| Net cash provided by (used for) investing activities | (239 | ) | (274 | ) | (255 | ) | |||||
| Cash flows from financing activities: | |||||||||||
| Repurchase of long-term debt | — | (1,000 | ) | — | |||||||
| Dividends paid to common stockholders | (260 | ) | (261 | ) | (264 | ) | |||||
| Proceeds from issuance of common stock through stock plans | 3 | 37 | 1 | ||||||||
| Purchase of treasury shares and restricted stock unit
withholdings | (310 | ) | (303 | ) | (302 | ) | |||||
| Other, net | — | (1 | ) | — | |||||||
| Net cash provided by (used for) financing activities | (567 | ) | (1,528 | ) | (565 | ) | |||||
| Effect of changes in exchange rates on cash positions | (4 | ) | (3 | ) | (3 | ) | |||||
| Increase (decrease) in cash and cash equivalents | (49 | ) | (954 | ) | (67 | ) | |||||
| Cash and cash equivalents at beginning of period | 2,908 | 3,862 | 3,930 | ||||||||
| Cash and cash equivalents at end of period | 2,859 | 2,908 | 3,863 | ||||||||
| Net cash paid during the period for: | |||||||||||
| Interest | 86 | 38 | 86 | ||||||||
| Income taxes, net of refunds | 193 | 198 | 239 | ||||||||
| Net gain (loss) on sale of assets: | |||||||||||
| Cash proceeds from the sale of assets | 1 | 2 | 1 | ||||||||
| Book value of these assets | (1 | ) | — | — | |||||||
| Non-cash investing activities: | |||||||||||
| Non-cash capital expenditures | 166 | 223 | 165 | ||||||||
