- For an explanation of GAAP to non-GAAP adjustments, please see “Non-GAAP Financial Measures” on page 2 of this release.
- Financial leverage is defined as net debt divided by trailing twelve months adjusted EBITDA.
• During the third quarter of 2019, NXP repurchased 0.09 million shares for a total cost of $9.0 million and paid cash dividends of $70 million.
• Weighted average number of diluted shares for the three-month period ended September 29, 2019 was 283.5 million.
• Cash paid for income taxes related to on-going operations was $39 million. Items not related to on-going operations resulted in additional cash payments of $20 million, which was mainly due to the divestment of the Standard Products business.
Guidance for the Fourth Quarter 2019: ($ millions) (1)
| Guidance Range | |||||||||||||||||||||||||||
| GAAP | Reconciliation | non-GAAP | |||||||||||||||||||||||||
| Low | Mid | High | Low | Mid | High | ||||||||||||||||||||||
| Total Revenue | $ | 2,240 | $ | 2,270 | $ | 2,300 | $ | 2,240 | $ | 2,270 | $ | 2,300 | |||||||||||||||
| Q-Q | -1 | % | — | % | 2 | % | -1 | % | — | % | 2 | % | |||||||||||||||
| Y-Y | -7 | % | -6 | % | -4 | % | -7 | % | -6 | % | -4 | % | |||||||||||||||
| Gross Profit | $ | 1,178 | $ | 1,201 | $ | 1,224 | $ | (30 | ) | $ | 1,208 | $ | 1,231 | $ | 1,254 | ||||||||||||
| Gross Margin | 52.6 | % | 52.9 | % | 53.2 | % | 53.9 | % | 54.2 | % | 54.5 | % | |||||||||||||||
| Operating Income (loss) | $ | 189 | $ | 205 | $ | 221 | $ | (481 | ) | $ | 670 | $ | 686 | $ | 702 | ||||||||||||
| Operating Margin | 8.4 | % | 9.0 | % | 9.6 | % | 29.9 | % | 30.2 | % | 30.5 | % | |||||||||||||||
| Financial Income (expense) | $ | (80 | ) | $ | (81 | ) | $ | (82 | ) | $ | (12 | ) | $ | (68 | ) | $ | (69 | ) | $ | (70 | ) | ||||||
