Other Financial Information

• Capital Expenditures for the fourth quarter were $74 million and for the year were $249 million;
• Cash and Cash Equivalents were $696 million, inclusive of debt redemption activities during the quarter totaling $110 million; and
• Adjusted EBITDA* for the latest twelve months ended December 31, 2014 was $1.10 billion.

First Quarter 2015 Outlook

For the first quarter of 2015, the company expects:

• Net sales to be between $1.135 billion and $1.185 billion;
• Gross margins to be essentially flat on a sequential basis.

Conference Call and Webcast

Freescale's quarterly earnings call is scheduled to begin at 4:00 p.m. Central Standard Time on January 27, 2015. The company will offer a live webcast of the conference call over the Internet at www.freescale.com/investor.

Caution Regarding Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to our business strategy, goals and expectations concerning future revenues, operations, margins, profitability, liquidity and capital resources. Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Actual results and trends in the future may differ materially from those suggested or implied by the forward-looking statements depending on a variety of factors. Some of the factors that we believe could affect our results include the loss of one or more of our significant customers or strategic relationships; general economic and business conditions and any downturns in the cyclical industry in which we operate; our competitive environment and our ability to make technological advances; interruptions in our production or manufacturing capacity and our ability to obtain supplies; our ability to meet unscheduled or temporary increases in demand in our target markets; economic conditions in the industries in which our products are sold; our substantial indebtedness; our ability to service our outstanding indebtedness and the impact such indebtedness may have on the way we operate our business; maintenance and protection of our intellectual property; political and economic conditions in the countries where we conduct business; geological conditions in some of the earthquake-prone countries where certain of our customers and suppliers are based; the costs of environmental compliance and/or the imposition of liabilities under environmental laws and regulations; potential product liability or personal injury claims; inability to make necessary capital expenditures; loss of key personnel; and our ability to achieve cost savings as well as other matters described under "Risk Factors" in our Annual Report on Form 10-K and other filings with the SEC. We undertake no obligation to update any information contained in this press release.

Non-GAAP Financial Measures

Included within this press release and the accompanying tables and notes are non-GAAP financial measures that supplement the company's consolidated financial information prepared under GAAP. The company describes these non-GAAP financial measures and reconciles them to the most directly comparable GAAP measures in the tables and notes attached to this press release. The company's management believes that these non-GAAP measures provide a more meaningful representation of the company’s ongoing financial performance than GAAP measures alone. In addition, the company uses Adjusted EBITDA to measure compliance with certain of its debt covenants. These non-GAAP measures are included solely for informational and comparative purposes and are not meant as a substitute for GAAP. You should consider them together with the consolidated financial information located in the tables attached to this press release.

About Freescale Semiconductor

Freescale Semiconductor (NYSE: FSL) enables secure, embedded processing solutions for the Internet of Tomorrow. Freescale’s solutions drive a more innovative and connected world, simplifying our lives and making us safer. While serving the world’s largest companies, Freescale is also committed to supporting science, technology, engineering and math (STEM) education, enabling the next generation of innovators. www.freescale.com

Freescale and the Freescale logo are trademarks of Freescale Semiconductor, Inc. All other product or service names are the property of their respective owners. © Freescale Semiconductor, Inc. 2015.

Freescale Semiconductor, Ltd.
Condensed Consolidated Statements of Operations
(Unaudited)
		Three Months Ended												Twelve Months Ended
(in millions, except per share amounts)		Dec 31, 2014				Oct 3, 2014				Dec 31, 2013				Dec 31, 2014				Dec 31, 2013
Net sales		$	1,103			$	1,213			$	1,082			$	4,634			$	4,186
Cost of sales			582				651				607				2,509				2,399
Gross margin			521				562				475				2,125				1,787
Selling, general and administrative			123				122				118				499				464
Research and development			204				213				195				846				755
Amortization expense for acquired intangible assets			4				4				3				15				13
Reorganization of business and other			12				8				14				37				24
Operating earnings			178				215				145				728				531
Loss on extinguishment or modification of long-term debt			(10	)			(10	)			(135	)			(79	)			(217	)
Other expense, net			(77	)			(82	)			(119	)			(345	)			(482	)
Earnings (loss) before income taxes			91				123				(109	)			304				(168	)
Income tax expense (benefit)			28				(2	)			9				53				40
Net earnings (loss)		$	63			$	125			$	(118	)		$	251			$	(208	)
Earnings (loss) per common share:
Basic		$	0.21			$	0.41				($0.46	)		$	0.84				($0.81	)
Diluted		$	0.20			$	0.40				($0.46	)		$	0.83				($0.81	)
Weighted average common shares outstanding:
Basic			304				304				258				298				256
Diluted			310				309				258				303				256

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