NXP Semiconductors Reports Third Quarter 2016 Results

NXP Semiconductors
Table 4: Reconciliation of GAAP to non-GAAP Segment Results (unaudited)


($ in millions)	Three Months Ended
	October 2, 2016			July 3, 2016			October 4, 2015

High Performance Mixed Signal (HPMS)		2,099			2,014			1,164
Standard Products		320			303			325
Product Revenue		2,419			2,317			1,489
Corporate and Other		50			48			33
Total Revenue	$	2,469		$	2,365		$	1,522



HPMS Revenue	$	2,099		$	2,014		$	1,164
Percent of Total Revenue		85.0	%		85.2	%		76.5	%
HPMS segment GAAP gross profit		1,059			998			626
PPA effects		(63	)		(64	)		(1	)
Restructuring		-			(10	)		-
Stock based compensation		(10	)		(9	)		(2	)
Other incidentals		-			-			1
HPMS segment non-GAAP gross profit	$	1,132		$	1,081		$	628

HPMS segment GAAP gross margin		50.5	%		49.6	%		53.8	%
HPMS segment non-GAAP gross margin		53.9	%		53.7	%		54.0	%

HPMS segment GAAP operating profit		116			(56	)		331
PPA effects		(428	)		(501	)		(14	)
Restructuring		-			(39	)		1
Stock based compensation		(72	)		(73	)		(28	)
Other incidentals		-			13			1
HPMS segment non-GAAP operating profit	$	616		$	544		$	371

HPMS segment GAAP operating margin		5.5	%		-2.8	%		28.4	%
HPMS segment non-GAAP operating margin		29.3	%		27.0	%		31.9	%



Standard Products Revenue	$	320		$	303		$	325
Percent of Total Revenue		13.0	%		12.8	%		21.4	%
Standard Products segment GAAP gross profit		123			97			108
PPA effects		-			-			-
Restructuring		-			-			(4	)
Stock based compensation		-			(2	)		(1	)
Other incidentals		14			-			(2	)
Standard Products segment non-GAAP gross profit	$	109		$	99		$	115

Standard Products segment GAAP gross margin		38.4	%		32.0	%		33.2	%
Standard Products segment non-GAAP gross margin		34.1	%		32.7	%		35.4	%

Standard Products segment GAAP operating profit		85			52			56
PPA effects		-			(8	)		(12	)
Restructuring		-			-			(4	)
Stock based compensation		(4	)		(6	)		(6	)
Other incidentals		11			(3	)		(2	)
Standard Products segment non-GAAP operating profit	$	78		$	69		$	80

Standard Products segment GAAP operating margin		26.6	%		17.2	%		17.2	%
Standard Products segment non-GAAP operating margin		24.4	%		22.8	%		24.6	%



Corporate and Other Revenue	$	50		$	48		$	33
Percent of Total Revenue		2.0	%		2.0	%		2.1	%
Corporate and Other segment GAAP gross profit		2			4			6
PPA effects		(1	)		(2	)		(2	)
Restructuring		(3	)		-			-
Stock based compensation		-			(1	)		-
Other incidentals		-			4			3
Corporate and Other segment non-GAAP gross profit	$	6		$	3		$	5

Corporate and Other segment GAAP gross margin		4.0	%		8.3	%		18.2	%
Corporate and Other segment non-GAAP gross margin		12.0	%		6.3	%		15.2	%

Corporate and Other segment GAAP operating profit		(27	)		(22	)		(12	)
PPA effects		(4	)		(5	)		(6	)
Restructuring		(3	)		(1	)		(1	)
Stock based compensation		(1	)		(1	)		-
Merger-related costs		(14	)		(11	)		(3	)
Other incidentals		(2	)		3			-
Corporate and Other segment non-GAAP operating profit	$	(3	)	$	(7	)	$	(2	)

Corporate and Other segment GAAP operating margin		-54.0	%		-45.8	%		-36.4	%
Corporate and Other segment non-GAAP operating margin		-6.0	%		-14.6	%		-6.1	%

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