NXP Semiconductors Reports Third Quarter 2024 Results



NXP Semiconductors
Table 3: Condensed consolidated statement of cash flows (unaudited)

($ in millions) Three months ended
  September 29, 2024  June 30, 2024  October 1, 2023
Cash flows from operating activities:     
Net income (loss) $ 729   $ 664   $ 792 
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:     
Depreciation and amortization 218   213   273 
Share-based compensation 115   114   103 
Amortization of discount (premium) on debt, net    1   1 
Amortization of debt issuance costs 2   1   2 
Results relating to equity-accounted investees 6   3   2  
(Gain) loss on equity securities, net   7       3       4  
Deferred tax expense (benefit)   (40 )     (23 )     (33 )
Changes in operating assets and liabilities:          
(Increase) decrease in receivables and other current assets   (167 )     10       40  
(Increase) decrease in inventories   (86 )     (46 )     (34 )
Increase (decrease) in accounts payable and other liabilities   118       (220 )     (128 )
(Increase) decrease in other non-current assets   (134 )     40       (49 )
Exchange differences   7       5       5  
Other items   4       (4 )     10  
Net cash provided by (used for) operating activities   779       761       988  
Cash flows from investing activities:          
Purchase of identified intangible assets   (26 )     (55 )     (42 )
Capital expenditures on property, plant and equipment   (186 )     (185 )     (200 )
Proceeds from the disposals of property, plant and equipment         1        
Purchase of investments   (159 )           (31 )
Net cash provided by (used for) investing activities   (371 )     (239 )     (273 )
Cash flows from financing activities:          
Dividends paid to common stockholders   (259 )     (260 )     (262 )
Proceeds from issuance of common stock through stock plans   39       3       36  
Purchase of treasury shares and restricted stock unit
withholdings
  (305 )     (310 )     (306 )
Other, net   (1 )           (1 )
Net cash provided by (used for) financing activities   (526 )     (567 )     (533 )
Effect of changes in exchange rates on cash positions   7       (4 )     (3 )
Increase (decrease) in cash and cash equivalents   (111 )     (49 )     179  
Cash and cash equivalents at beginning of period   2,859       2,908       3,863  
Cash and cash equivalents at end of period   2,748       2,859       4,042  
           
Net cash paid during the period for:          
Interest   27       86       38  
Income taxes, net of refunds   196       193       165  
Net gain (loss) on sale of assets:          
Cash proceeds from the sale of assets         1        
Book value of these assets         (1 )      
Non-cash investing activities:          
Non-cash capital expenditures   125       166       167  
           

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