NXP Semiconductors
Table 3: Condensed consolidated statement of cash flows (unaudited)
| ($ in millions) | Three months ended | ||||||||||
| July 3, 2022 | April 3, 2022 | July 4, 2021 | |||||||||
| Cash flows from operating activities: | |||||||||||
| Net income (loss) | $ | 683 | $ | 666 | $ | 406 | |||||
| Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: | |||||||||||
| Depreciation and amortization | 317 | 310 | 305 | ||||||||
| Stock-based compensation | 89 | 89 | 93 | ||||||||
| Amortization of discount (premium) on debt, net | — | 1 | 1 | ||||||||
| Amortization of debt issuance costs | 1 | 2 | 1 | ||||||||
| Net (gain) loss on sale of assets | — | (1 | ) | — | |||||||
| (Gain) loss on extinguishment of debt | 18 | — | — | ||||||||
| Results relating to equity-accounted investees | 3 | (12 | ) | 2 | |||||||
| (Gain) loss on equity securities, net | 8 | (4 | ) | 5 | |||||||
| Deferred tax expense (benefit) | (65 | ) | (33 | ) | — | ||||||
| Changes in operating assets and liabilities: | |||||||||||
| (Increase) decrease in receivables and other current assets | (50 | ) | (61 | ) | (135 | ) | |||||
| (Increase) decrease in inventories | (151 | ) | (122 | ) | (60 | ) | |||||
| Increase (decrease) in accounts payable and other liabilities | 4 | 266 | 73 | ||||||||
| (Increase) decrease in other non-current assets | (41 | ) | (247 | ) | (52 | ) | |||||
| Exchange differences | (3 | ) | — | 1 | |||||||
| Other items | 6 | 2 | (4 | ) | |||||||
| Net cash provided by (used for) operating activities | 819 | 856 | 636 | ||||||||
| Cash flows from investing activities: | |||||||||||
| Purchase of identified intangible assets | (29 | ) | (43 | ) | (35 | ) | |||||
| Capital expenditures on property, plant and equipment | (268 | ) | (280 | ) | (150 | ) | |||||
| Purchase of equipment leased to others | — | (5 | ) | — | |||||||
| Proceeds from the disposals of property, plant and equipment | — | 1 | — | ||||||||
| Purchase of interests in businesses, net of cash acquired | (1 | ) | (4 | ) | (1 | ) | |||||
| Purchase of investments | (2 | ) | — | (4 | ) | ||||||
| Proceeds from the sale of investments | 12 | — | — | ||||||||
| Proceeds from return of equity investments | — | 2 | 1 | ||||||||
| Net cash provided by (used for) investing activities | (288 | ) | (329 | ) | (189 | ) | |||||
| Cash flows from financing activities: | |||||||||||
| Repurchase of long-term debt | (917 | ) | — | — | |||||||
| Proceeds from the issuance of long-term debt | 1,496 | — | 2,000 | ||||||||
| Cash paid for debt issuance costs | (12 | ) | (1 | ) | (22 | ) | |||||
| Dividends paid to common stockholders | (222 | ) | (149 | ) | (155 | ) | |||||
| Proceeds from issuance of common stock through stock plans | — | 28 | — | ||||||||
| Purchase of treasury shares and restricted stock unit withholdings | (2 | ) | (552 | ) | (1,203 | ) | |||||
| Other, net | (1 | ) | — | (1 | ) | ||||||
| Net cash provided by (used for) financing activities | 342 | (674 | ) | 619 | |||||||
| Effect of changes in exchange rates on cash positions | (11 | ) | — | 2 | |||||||
| Increase (decrease) in cash and cash equivalents | 862 | (147 | ) | 1,068 | |||||||
| Cash and cash equivalents at beginning of period | 2,683 | 2,830 | 1,842 | ||||||||
| Cash and cash equivalents at end of period | 3,545 | 2,683 | 2,910 | ||||||||
| Net cash paid during the period for: | |||||||||||
| Interest | 133 | 45 | 104 | ||||||||
| Income taxes, net of refunds | 150 | 122 | 121 | ||||||||
| Non-cash investing activities: | |||||||||||
| Non-cash capital expenditures | 243 | 246 | 167 | ||||||||
