Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Year Ended

December 31,
2022

January 1,
2022

Operating Activities

Net income

$     91,402

$2,117,399

Adjustments to reconcile net income to net cash provided by (used in)

   operating activities of continuing operations:

   Income from discontinued operations, net of income taxes

--

(2,175,273)

   Depreciation of property and equipment

22,524

18,051

   Amortization of other intangible assets

34,071

44,505

   Amortization of debt discount and debt issuance costs 

2,003

22,767

   Loss on extinguishment of convertible debt

3

3,370

   Stock-based compensation expense

60,510

56,842

   Equity-method earnings

(3,400)

(13,728)

   Deferred income taxes

(18,240)

(3,414)

   Changes in operating assets and liabilities:

      Accounts receivable

26,876

(3,144)

      Inventories

(51,044)

(1,510)

      Prepaid expenses and other assets

(31,240)

44,664

      Accounts payable

36,797

(7,704)

      Other current liabilities and income taxes

(12,738)

2,109

      Deferred revenue and returns liability

(7,069)

863

      Other non-current liabilities

(9,181)

(14,599)

Net cash provided by operating activities of continuing operations

141,274

91,198

Investing Activities

Purchases of marketable securities

(607,237)

(1,541,971)

Sales of marketable securities

223,354

250,075

Maturities of marketable securities

650,946

844,966

Purchases of property and equipment

(26,525)

(28,577)

Purchases of other assets

--

(1,158)

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

240,538

(476,665)

Financing Activities

Payments on debt

(21)

(140,572)

Repurchases of common stock

(883,424)

(1,150,044)

Payment of taxes withheld for vested stock awards

(15,387)

(22,239)

Proceeds from the issuance of common stock

11,779

14,183

Net cash used in financing activities of continuing operations

(887,053)

(1,298,672)

Discontinued Operations

Operating activities

(69,467)

(191,642)

Investing activities

--

2,747,684

Net cash provided by (used in) discontinued operations

(69,467)

2,556,042

Increase (decrease) in cash and cash equivalents

(574,708)

871,903

Cash and cash equivalents at beginning of period

1,074,623

202,720

Cash and cash equivalents at end of period

$   499,915

$1,074,623