Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Six Months Ended

July 2,

 2022

July 3,
2021

Operating Activities

Net income

$     45,042

$  33,441

Adjustments to reconcile net income to cash provided by operating activities

   of continuing operations:

   Income from discontinued operations, net of income taxes

--

(77,088)

   Depreciation of property and equipment

10,561

8,184

   Amortization of other intangible assets

19,194

22,902

   Amortization of debt discount and debt issuance costs 

994

11,822

   Loss on extinguishment of convertible debt

3

3,370

   Stock-based compensation expense

27,264

22,620

   Equity-method earnings

(1,166)

(1,898)

   Deferred income taxes

(9,344)

(5,644)

   Changes in operating assets and liabilities:

      Accounts receivable

26,207

(4,377)

      Inventories

(24,714)

(4,447)

      Prepaid expenses and other assets

(25,286)

(3,591)

      Accounts payable

25,606

14,711

      Other current liabilities and income taxes

(3,418)

(10,626)

      Deferred revenue and returns liability

(3,153)

(175)

      Other non-current liabilities

(4,416)

(3,464)

Net cash provided by operating activities of continuing operations

83,374

5,740

Investing Activities

Purchases of marketable securities

(554,267)

(80,426)

Sales of marketable securities

27,404

186,626

Maturities of marketable securities

511,296

100,023

Purchases of property and equipment

(12,322)

(10,779)

Purchases of other assets

--

(578)

Net cash provided by (used in) investing activities of continuing operations

(27,889)

194,866

Financing Activities

Payments on debt

(21)

(140,572)

Repurchases of common stock

(579,040)

(18,982)

Payment of taxes withheld for vested stock awards

(13,958)

(19,732)

Proceeds from the issuance of common stock

6,365

8,388

Net cash used in financing activities of continuing operations

(586,654)

(170,898)

Discontinued Operations

Operating activities

(38,604)

72,674

Investing activities

--

(2,018)

Net cash provided by (used in) discontinued operations

(38,604)

70,656

Increase (decrease) in cash and cash equivalents

(569,773)

100,364

Cash and cash equivalents at beginning of period

1,074,623

202,720

Cash and cash equivalents at end of period

$   504,850

$303,084