Silicon Laboratories Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) | |||
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| Three Months Ended | ||
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| April 2,
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| April 3,
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Operating Activities |
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Net income | $ 22,907 |
| $ 13,509 |
Adjustments to reconcile net income to cash provided by (used in) operating activities of continuing operations: |
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Income from discontinued operations, net of income taxes | -- |
| (38,665) |
Depreciation of property and equipment | 5,156 |
| 4,108 |
Amortization of other intangible assets | 10,351 |
| 11,451 |
Amortization of debt discount and debt issuance costs | 496 |
| 6,456 |
Loss on extinguishment of convertible debt | -- |
| 3,370 |
Stock-based compensation expense | 12,875 |
| 11,368 |
Equity-method earnings | (1,194) |
| (1,726) |
Deferred income taxes | (4,202) |
| (3,197) |
Changes in operating assets and liabilities: |
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Accounts receivable | 19,080 |
| (8,530) |
Inventories | (6,215) |
| (4,908) |
Prepaid expenses and other assets | 1,704 |
| (12,735) |
Accounts payable | 8,932 |
| 14,116 |
Other current liabilities and income taxes | 8,345 |
| (13,432) |
Deferred revenue and returns liability | 7,791 |
| 463 |
Other non-current liabilities | (817) |
| (1,972) |
Net cash provided by (used in) operating activities of continuing operations | 85,209 |
| (20,324) |
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Investing Activities |
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Purchases of marketable securities | (435,690) |
| (8,251) |
Sales of marketable securities | 9,106 |
| 121,557 |
Maturities of marketable securities | 213,750 |
| 39,835 |
| Purchases of property and equipment | (4,554) |
| (5,705) |
| Purchases of other assets | -- |
| (578) |
| Net cash provided by (used in) investing activities of continuing operations | (217,388) |
| 146,858 |
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| Financing Activities |
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| Payments on debt | -- |
| (140,572) |
| Repurchases of common stock | (157,778) |
| -- |
| Payment of taxes withheld for vested stock awards | (8,755) |
| (17,817) |
| Net cash used in financing activities of continuing operations | (166,533) |
| (158,389) |
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| Discontinued Operations |
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| Operating activities | (10,000) |
| 34,827 |
| Investing activities | -- |
| (468) |
| Net cash provided by (used in) discontinued operations | (10,000) |
| 34,359 |
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| Increase (decrease) in cash and cash equivalents | (308,712) |
| 2,504 |
| Cash and cash equivalents at beginning of period | 1,074,623 |
| 202,720 |
| Cash and cash equivalents at end of period | $ 765,911 |
| $205,224 |
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Silicon Labs Accelerates Revenue Growth in First Quarter 2022
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