Silicon Laboratories Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) | |||
| |||
| Nine Months Ended | ||
| September 28,
|
| September 30,
|
Operating Activities |
|
|
|
Net income (loss) | $ (167,187) |
| $ 35,271 |
Adjustments to reconcile net income to net cash used in operating activities: |
|
|
|
Depreciation of property and equipment | 19,302 |
| 18,992 |
Amortization of other intangible assets | 17,596 |
| 19,162 |
Amortization of debt issuance costs | — |
| 960 |
Stock-based compensation expense | 45,358 |
| 37,167 |
Equity-method loss | — |
| 1,150 |
Deferred income taxes | 29,100 |
| (5,881) |
Changes in operating assets and liabilities: |
|
|
|
Accounts receivable | (19,585) |
| (30,706) |
Inventories | 54,724 |
| (66,971) |
Prepaid expenses and other assets | 23,091 |
| 8,085 |
Accounts payable | (13,849) |
| (37,039) |
Other current liabilities and income taxes | (5,004) |
| (39,155) |
Deferred revenue and returns liability | 6,361 |
| 3,286 |
Other non-current liabilities | (13,946) |
| 6,794 |
Net cash used in operating activities | (24,039) |
| (48,885) |
|
|
|
|
Investing Activities |
|
|
|
Purchases of marketable securities | (28,363) |
| (91,493) |
Sales of marketable securities | 44,057 |
| 365,073 |
Maturities of marketable securities | 131,008 |
| 171,766 |
Purchases of property and equipment | (7,785) |
| (18,533) |
Proceeds from sale of equity investment | 12,382 |
| — |
Purchases of other assets | — |
| (395) |
Net cash provided by investing activities | 151,299 |
| 426,418 |
|
|
|
|
Financing Activities |
|
|
|
Proceeds from revolving line of credit | — |
| 80,000 |
Payments on debt | (45,000) |
| (571,157) |
Repurchases of common stock | — |
| (217,137) |
Payment of taxes withheld for vested stock awards | (16,078) |
| (17,239) |
Proceeds from the issuance of common stock | 9,396 |
| 8,013 |
Net cash used in financing activities | (51,682) |
| (717,520) |
|
|
|
|
Increase (decrease) in cash and cash equivalents | 75,578 |
| (339,987) |
Cash and cash equivalents at beginning of period | 227,504 |
| 499,915 |
Cash and cash equivalents at end of period | $ 303,082 |
| $ 159,928 |
Silicon Labs Reports Third Quarter 2024 Results
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