NXP Semiconductors Reports Second Quarter 2016 Results
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NXP Semiconductors | | | | | | | |
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Table 6: Adjusted EBITDA and Free Cash Flow (unaudited) | | | | | | | |
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| | | ($ in millions) | |
Three Months Ended | |
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July 3, 2016 | |
April 3, 2016 | |
July 5, 2015 | |
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Net Income (loss) | |
$ |
1 | | |
$ |
(387 |
) | |
$ |
321 | | |
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Reconciling items to EBITDA | | | | | | | |
| | | Financial (income) expense | | | 126 | | | | 116 | | | | (2 | ) | |
| | | (Benefit) provision for income taxes | | | (152 | ) | | | (199 | ) | | | 14 | | |
| | | Depreciation | | | 165 | | | | 149 | | | | 57 | | |
| | | Amortization | | | 455 | | | | 380 | | | | 41 | | |
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EBITDA | |
$ |
595 | | |
$ |
59 | | |
$ |
431 | | |
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Reconciling items to adjusted EBITDA | | | | | | | |
| | | Results of equity-accounted investees | | | (1 | ) | | | (1 | ) | | | (1 | ) | |
| | | Purchase accounting effect on inventory | | | - | | | | 448 | | | | - | | |
| | | Restructuring 1) | | | 39 | | | | 20 | | | | 9 | | |
| | | Stock based compensation | | | 80 | | | | 99 | | | | 36 | | |
| | | Merger-related costs | | | 11 | | | | 5 | | | | 4 | | |
| | | Other incidental items 1) | | | (8 | ) | | | 2 | | | | 3 | | |
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Adjusted EBITDA | |
$ |
716 | | |
$ |
632 | | |
$ |
482 | | |
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Trailing twelve month adjusted EBITDA | |
$ |
2,377 | | |
$ |
2,143 | | |
$ |
1,831 | | |
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| | | 1) Excluding depreciation property, plant and equipment and amortization of software related to: | |
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| | | Restructuring | | | 1 | | | | - | | | | - | | |
| | | Other incidental items | | | (5 | ) | | | - | | | | (2 | ) | |
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| | | ($ in millions) | |
Three Months Ended | |
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July 3, 2016 | |
April 3, 2016 | |
July 5, 2015 | |
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Net cash provided by (used for) operating activities
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$ |
434 | | |
$ |
414 | | |
$ |
351 | | |
| | | Net capital expenditures on property, plant and equipment | | | (71 | ) | | | (88 | ) | | | (89 | ) | |
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Non-GAAP free cash flow | |
$ |
363 | | |
$ |
326 | | |
$ |
262 | | |
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Non-GAAP free cash flow as a percent of Revenue | | |
15 |
% | | |
15 |
% | | |
17 |
% | |
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