| |
|
|
|
|
|
|
|
|
NXP Semiconductors |
|
|
Table 5: Financial reconciliation of GAAP to non-GAAP results (unaudited) |
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| ($ in millions except share data) |
|
Three Months Ended |
|
| |
|
October 4, 2015 |
|
July 5,
2015 |
|
Sept. 28,
2014 |
|
| |
|
|
|
|
|
|
|
|
Revenue |
|
$ |
1,522 |
|
|
$ |
1,506 |
|
|
$ |
1,515 |
|
|
| |
|
|
|
|
|
|
|
|
GAAP Gross profit |
|
$ |
740 |
|
|
$ |
724 |
|
|
$ |
713 |
|
|
| PPA effects |
|
|
(3 |
) |
|
|
(5 |
) |
|
|
(3 |
) |
|
| Restructuring |
|
|
(4 |
) |
|
|
- |
|
|
|
(5 |
) |
|
| Stock Based Compensation |
|
|
(3 |
) |
|
|
(3 |
) |
|
|
(2 |
) |
|
| Other incidentals |
|
|
2 |
|
|
|
(2 |
) |
|
|
(2 |
) |
|
|
Non-GAAP Gross profit |
|
$ |
748 |
|
|
$ |
734 |
|
|
$ |
725 |
|
|
| |
|
|
|
|
|
|
|
|
GAAP Gross margin |
|
|
48.6 |
% |
|
|
48.1 |
% |
|
|
47.1 |
% |
|
| |
|
|
|
|
|
|
|
|
Non-GAAP Gross margin |
|
|
49.1 |
% |
|
|
48.7 |
% |
|
|
47.9 |
% |
|
| |
|
|
|
|
|
|
|
| GAAP Research and development |
|
$ |
(178 |
) |
|
$ |
(195 |
) |
|
$ |
(196 |
) |
|
| Restructuring |
|
|
1 |
|
|
|
(5 |
) |
|
|
- |
|
|
| Stock based compensation |
|
|
(7 |
) |
|
|
(9 |
) |
|
|
(5 |
) |
|
| Non-GAAP Research and development |
|
$ |
(172 |
) |
|
$ |
(181 |
) |
|
$ |
(191 |
) |
|
| |
|
|
|
|
|
|
|
| GAAP Selling, general and administrative |
|
$ |
(191 |
) |
|
$ |
(198 |
) |
|
$ |
(211 |
) |
|
| PPA effects |
|
|
(29 |
) |
|
|
(31 |
) |
|
|
(39 |
) |
|
| Restructuring |
|
|
(1 |
) |
|
|
(4 |
) |
|
|
(1 |
) |
|
| Stock based compensation |
|
|
(24 |
) |
|
|
(24 |
) |
|
|
(27 |
) |
|
| Other incidentals |
|
|
(6 |
) |
|
|
(3 |
) |
|
|
- |
|
|
| Non-GAAP Selling, general and administrative |
|
$ |
(131 |
) |
|
$ |
(136 |
) |
|
$ |
(144 |
) |
|
| |
|
|
|
|
|
|
|
| GAAP Other income (expense) |
|
$ |
4 |
|
|
$ |
1 |
|
|
$ |
1 |
|
|
| Other incidentals |
|
|
- |
|
|
|
- |
|
|
|
1 |
|
|
| Non-GAAP Other income (expense) |
|
$ |
4 |
|
|
$ |
1 |
|
|
$ |
- |
|
|
| |
|
|
|
|
|
|
|
|
GAAP Operating income (loss) |
|
$ |
375 |
|
|
$ |
332 |
|
|
$ |
307 |
|
|
| PPA effects |
|
|
(32 |
) |
|
|
(36 |
) |
|
|
(42 |
) |
|
| Restructuring |
|
|
(4 |
) |
|
|
(9 |
) |
|
|
(6 |
) |
|
| Stock based compensation |
|
|
(34 |
) |
|
|
(36 |
) |
|
|
(34 |
) |
|
| Other incidentals |
|
|
(4 |
) |
|
|
(5 |
) |
|
|
(1 |
) |
|
|
Non-GAAP Operating income (loss) |
|
$ |
449 |
|
|
$ |
418 |
|
|
$ |
390 |
|
|
| |
|
|
|
|
|
|
|
|
GAAP Operating margin |
|
|
24.6 |
% |
|
|
22.0 |
% |
|
|
20.3 |
% |
|
| |
|
|
|
|
|
|
|
|
Non-GAAP Operating margin |
|
|
29.5 |
% |
|
|
27.8 |
% |
|
|
25.7 |
% |
|
| |
|
|
|
|
|
|
|
|
GAAP Financial income (expense) |
|
$ |
16 |
|
|
$ |
2 |
|
|
$ |
(168 |
) |
|
| Non-cash interest expense on convertible notes |
|
|
(9 |
) |
|
|
(9 |
) |
|
|
- |
|
|
| Foreign exchange gain (loss) on debt |
|
|
6 |
|
|
|
40 |
|
|
|
(131 |
) |
|
| Changes in fair value of warrant liability |
|
|
67 |
|
|
|
18 |
|
|
|
- |
|
|
| Other financial expense |
|
|
(4 |
) |
|
|
(11 |
) |
|
|
(3 |
) |
|
|
Non-GAAP Financial income (expense) |
|
$ |
(44 |
) |
|
$ |
(36 |
) |
|
$ |
(34 |
) |
|
| |
|
|
|
|
|
|
|
|
GAAP Income tax benefit (provision) |
|
$ |
(15 |
) |
|
$ |
(14 |
) |
|
$ |
(4 |
) |
|
| Other adjustments |
|
|
(8 |
) |
|
|
(4 |
) |
|
|
1 |
|
|
|
Non-GAAP Cash tax (expense) |
|
$ |
(7 |
) |
|
$ |
(10 |
) |
|
$ |
(5 |
) |
|
| |
|
|
|
|
|
|
|
|
GAAP Results relating to equity-accounted investees |
|
$ |
3 |
|
|
$ |
1 |
|
|
$ |
3 |
|
|
| Other adjustments |
|
|
3 |
|
|
|
1 |
|
|
|
3 |
|
|
|
Non-GAAP Results relating to equity-accounted investees |
|
$ |
-
|
|
|
$ |
-
|
|
|
$ |
-
|
|
|
| |
|
|
|
|
|
|
|
|
GAAP Net income (loss) |
|
$ |
379 |
|
|
$ |
321 |
|
|
$ |
138 |
|
|
| PPA effects |
|
|
(32 |
) |
|
|
(36 |
) |
|
|
(42 |
) |
|
| Restructuring |
|
|
(4 |
) |
|
|
(9 |
) |
|
|
(6 |
) |
|
| Stock based compensation |
|
|
(34 |
) |
|
|
(36 |
) |
|
|
(34 |
) |
|
| Other incidentals |
|
|
(4 |
) |
|
|
(5 |
) |
|
|
(1 |
) |
|
| Other adjustments |
|
|
55 |
|
1 |
) |
|
|
|
|
35 |
|
|
|
(130 |
) |
|
|
Non-GAAP Net income (loss) |
|
$ |
398 |
|
|
$ |
372 |
|
|
$ |
351 |
|
|
| |
|
|
|
|
|
|
|
|
GAAP Net income (loss) attributable to stockholders |
|
$ |
361 |
|
|
$ |
300 |
|
|
$ |
121 |
|
|
| PPA effects |
|
|
(32 |
) |
|
|
(36 |
) |
|
|
(42 |
) |
|
| Restructuring |
|
|
(4 |
) |
|
|
(9 |
) |
|
|
(6 |
) |
|
| Stock based compensation |
|
|
(34 |
) |
|
|
(36 |
) |
|
|
(34 |
) |
|
| Other incidentals |
|
|
(4 |
) |
|
|
(5 |
) |
|
|
(1 |
) |
|
| Other adjustments |
|
|
55 |
|
|
|
35 |
|
|
|
(130 |
) |
|
|
Non-GAAP Net income (loss) attributable to stockholders |
|
$ |
380 |
|
|
$ |
351 |
|
|
$ |
334 |
|
|
| |
|
|
|
|
|
|
|
| GAAP Weighted average shares - diluted |
|
|
242,122 |
|
|
|
243,288 |
|
|
|
246,550 |
|
|
| Non-GAAP Adjustment |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
| Non-GAAP Weighted average shares - diluted |
|
|
242,122 |
|
|
|
243,288 |
|
|
|
246,550 |
|
|
| |
|
|
|
|
|
|
|
|
GAAP Diluted net income (loss) attributable to stockholders per share |
|
$ |
1.49 |
|
|
$ |
1.23 |
|
|
$ |
0.49 |
|
|
|
Non-GAAP Diluted net income (loss) attributable to stockholders per share |
|
$ |
1.57 |
|
|
$ |
1.44 |
|
|
$ |
1.35 |
|
|
|
|
| |
|
|
|
|
|
|
|
| 1) Includes: During 3Q15: Non-cash interest expense on convertible Notes: ($9) million; Foreign exchange gain on debt: $6 million; Changes in fair value of warrant liability: $67 million; Other financial expense: ($4) million; Results relating to equity-accounted investees: $3 million; and difference between book and cash income taxes: ($8) million. |
|
| |
|
|
|
|
|
|
|
