NXP Semiconductors Reports Fourth Quarter and Full-Year 2015

NXP Semiconductors Reports Fourth Quarter and Full-Year 2015 Results


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


($ in millions)	Three Months Ended									Full Year
	Dec. 31, 2015			Oct. 4, 2015			Dec. 31, 2014				2015			2014

Cash Flows from operating activities
Net income (loss)	$	989		$	379		$	167		$	1,599		$	607
Adjustments to reconcile net income (loss):
Depreciation and amortization		230			94			97			517			405
Stock-based compensation		111			34			34			216			133
Change in fair value of the Warrant liability		1			(67	)		2			31			2
Amortization of discount on debt		11			9			3			39			3
Amortization of debt issuance costs		11			-			13			11			13
(Gain) loss on extinguishment of debt		-			-			-			-			3
Net (gain) loss on sale of assets		(1,258	)		(4	)		(3	)		(1,263	)		(10	)
Results relating to equity accounted investees		(2	)		(3	)		(3	)		(9	)		(8	)
Changes in deferred taxes		(69	)		4			(1	)		(63	)		1
Changes in operating assets and liabilities:
(Increase) decrease in receivables and other current assets		71			(96	)		108			(78	)		(111	)
(Increase) decrease in inventories		154			(5	)		(27	)		82			(42	)
Decrease (Increase) in other non-current assets		9			1			-			30			13
Increase (decrease) in accounts payable and accrued liabilities		(10	)		(5	)		71			22			222
Exchange differences		31			(6	)		91			193			246
Other items		(8	)		5			4			3			(9	)
Net cash provided by (used for) operatin g activities		271			340			556			1,330			1,468

Cash flows from investing activities:
Purchase of identified intangible assets		(5	)		(1	)		(10	)		(12	)		(36	)
Capital expenditures on property, plant and equipment		(92	)		(78	)		(107	)		(341	)		(329	)
Proceeds from disposals of property, plant and equipment		1			4			2			7			4
Proceeds from disposals of assets held for sale		-			-			3			-			6
Purchase of interests in businesses		(1,587	)		-			(6	)		(1,692	)		(8	)
Proceeds from sale of interests in businesses		1,604			-			-			1,605			1
Proceeds from return of equity investment		-									1
Other		2			(1	)		(14	)		2			(25	)
Net cash (used for) provided by investin g activities		(77	)		(76	)		(132	)		(430	)		(387	)

Cash flows from financing activities:
Net (repayments) borrowings of short-term debt		(1	)		(1	)		-			(2	)		(17	)
Repayments under the revolving credit facility		-			-			(750	)		-			(950	)
Amounts drawn under the revolving credit facility		-			-			-			-			800
Repurchase of long-term debt		(3,586	)		-			-			(3,586	)		(92	)
Principal payments on long-term debt		(8	)		(6	)		(5	)		(32	)		(15	)
Proceeds from the issuance of long-term debt		2,680			-			1,150			3,680			1,150
Cash paid for debt issuance costs		(22	)		-			(16	)		(32	)		(16	)
Proceeds from the sale of warrants		-			-			134			-			134
Cash paid for Notes hedge derivatives		-			-			(208	)		-			(208	)
Dividends paid to non-controlling interests		-			(51	)		-			(51	)		(50	)
Cash proceeds from exercise of stock options		18			8			48			51			145
Purchase of treasury shares		(151	)		(158	)		(180	)		(475	)		(1,435	)
Hold-back payments on prior acquisitions		-			-			-			(2	)		-
Net cash provided by (used for) financin g activities		(1,070	)		(208	)		173			(449	)		(554	)

Effect of changes in exchange rates on cash positions		(2	)		1			(6	)		(22	)		(12	)
Increase (decrease) in cash and cash e quivalents		(878	)		57			591			429			515
Cash and cash equivalents at beginning of period		2,492			2,435			594			1,185			670
Cash and cash equivalents at end of per iod		1,614			2,492			1,185			1,614			1,185

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 Next Page »