NXP Semiconductors
Table 4
: Financial Reconciliation of GAAP to non-GAAP Results (unaudited)
| ($ in millions except share data) | Three months ended | ||||||||||
| September 29, 2024 | June 30, 2024 | October 1, 2023 | |||||||||
| GAAP Gross Profit | $ | 1,866 | $ | 1,792 | $ | 1,965 | |||||
| PPA Effects | (12 | ) | (12 | ) | (13 | ) | |||||
| Restructuring | — | (4 | ) | — | |||||||
| Share-based compensation | (14 | ) | (15 | ) | (14 | ) | |||||
| Other incidentals | — | (10 | ) | (18 | ) | ||||||
| Non-GAAP Gross Profit | $ | 1,892 | $ | 1,833 | $ | 2,010 | |||||
| GAAP Gross margin | 57.4 | % | 57.3 | % | 57.2 | % | |||||
| Non-GAAP Gross margin | 58.2 | % | 58.6 | % | 58.5 | % | |||||
| GAAP Research and development | $ | (577 | ) | $ | (594 | ) | $ | (601 | ) | ||
| Restructuring | — | (4 | ) | 4 | |||||||
| Share-based compensation | (58 | ) | (58 | ) | (53 | ) | |||||
| Other incidentals | — | — | (2 | ) | |||||||
| Non-GAAP Research and development | $ | (519 | ) | $ | (532 | ) | $ | (550 | ) | ||
| GAAP Selling, general and administrative | $ | (265 | ) | $ | (270 | ) | $ | (294 | ) | ||
| PPA effects | (1 | ) | (1 | ) | (1 | ) | |||||
| Restructuring | — | 2 | — | ||||||||
| Share-based compensation | (43 | ) | (41 | ) | (36 | ) | |||||
| Other incidentals | (2 | ) | (2 | ) | (4 | ) | |||||
| Non-GAAP Selling, general and administrative | $ | (219 | ) | $ | (228 | ) | $ | (253 | ) | ||
| GAAP Operating income (loss) | $ | 990 | $ | 896 | $ | 992 | |||||
| PPA effects | (42 | ) | (41 | ) | (85 | ) | |||||
| Restructuring | — | (6 | ) | 4 | |||||||
| Share-based compensation | (115 | ) | (114 | ) | (103 | ) | |||||
| Other incidentals | (6 | ) | (14 | ) | (27 | ) | |||||
| Non-GAAP Operating income (loss) | $ | 1,153 | $ | 1,071 | $ | 1,203 | |||||
| GAAP Operating margin | 30.5 | % | 28.7 | % | 28.9 | % | |||||
| Non-GAAP Operating margin | 35.5 | % | 34.3 | % | 35.0 | % | |||||
| GAAP Income tax benefit (provision) | $ | (173 | ) | $ | (154 | ) | $ | (123 | ) | ||
| Income tax effect | 9 | 15 | 45 | ||||||||
| Non-GAAP Income tax benefit (provision) | $ | (182 | ) | $ | (169 | ) | $ | (168 | ) | ||
| GAAP Net income (loss) attributable to stockholders | $ | 718 | $ | 658 | $ | 787 | |||||
| PPA Effects | (42 | ) | (41 | ) | (85 | ) | |||||
| Restructuring | — | (6 | ) | 4 | |||||||
| Share-based compensation | (115 | ) | (114 | ) | (103 | ) | |||||
| Other incidentals | (6 | ) | (14 | ) | (27 | ) | |||||
| Other adjustments: | |||||||||||
| Adjustments to financial income (expense) | (12 | ) | (8 | ) | (10 | ) | |||||
| Income tax effect | 9 | 15 | 45 | ||||||||
| Results relating to equity-accounted investees, excluding Foundry investees 1 | (6 | ) | (3 | ) | (2 | ) | |||||
| Non-GAAP Net income (loss) attributable to stockholders | $ | 890 | $ | 829 | $ | 965 | |||||
| Additional Information: | |||||||||||
| |||||||||||
| GAAP net income (loss) per common share attributable to stockholders - diluted | $ | 2.79 | $ | 2.54 | $ | 3.01 | |||||
| PPA Effects | (0.16 | ) | (0.16 | ) | (0.33 | ) | |||||
| Restructuring | — | (0.02 | ) | 0.01 | |||||||
| Share-based compensation | (0.45 | ) | (0.44 | ) | (0.40 | ) | |||||
| Other incidentals | (0.02 | ) | (0.06 | ) | (0.10 | ) | |||||
| Other adjustments: | |||||||||||
| Adjustments to financial income (expense) | (0.05 | ) | (0.03 | ) | (0.03 | ) | |||||
| Income tax effect | 0.04 | 0.06 | 0.17 | ||||||||
| Results relating to equity-accounted investees, excluding Foundry investees 1 | (0.02 | ) | (0.01 | ) | (0.01 | ) | |||||
| Non-GAAP net income (loss) per common share attributable to stockholders - diluted | $ | 3.45 | $ | 3.20 | $ | 3.70 | |||||
| Additional Information: | |||||||||||
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