NXP Semiconductors Reports First Quarter 2016 Results


NXP Semiconductors
Table 4: Reconciliation of GAAP to non-GAAP Segment Results (unaudited)


($ in millions)	Three Months Ended
	April 3, 2016					Dec. 31, 2015					April 5, 2015

High Performance Mixed Signal (HPMS)		1,911					1,306					1,104
Standard Products		274					271					323
Product Revenue		2,185					1,577					1,427
Corporate and Other		39					29					40
Total Revenue	$	2,224				$	1,606				$	1,467



HPMS Revenue	$	1,911				$	1,306				$	1,104
Percent of Total Revenue		85.9	%				81.3	%				75.3	%
HPMS segment GAAP gross profit		510					534					597
PPA effects		(493	)	¹	⁾		(164	)	¹	⁾		-
Restructuring		(3	)				(8	)				(1	)
Stock based compensation		(13	)				(6	)				(1	)
Other incidentals		-					(1	)				-
HPMS segment non-GAAP gross profit	$	1,019				$	713				$	599

HPMS segment GAAP gross margin		26.7	%				40.9	%				54.1	%
HPMS segment non-GAAP gross margin		53.3	%				54.6	%				54.3	%

HPMS segment GAAP operating profit		(486	)				995					266
PPA effects		(847	)	¹	⁾		(283	)	¹	⁾		(14	)
Restructuring		(14	)				(195	)	²	⁾		(11	)
Stock based compensation		(92	)				(99	)	²	⁾		(28	)
Other incidentals		-					1,191		³	⁾		-
HPMS segment non-GAAP operating profit	$	467				$	381				$	319

HPMS segment GAAP operating margin		-25.4	%				76.2	%				24.1	%
HPMS segment non-GAAP operating margin		24.4	%				29.2	%				28.9	%



Standard Products Revenue	$	274				$	271				$	323
Percent of Total Revenue		12.3	%				16.9	%				22.0	%
Standard Products segment GAAP gross profit		87					90					110
PPA effects		(1	)				(1	)				(1	)
Restructuring		-					(4	)				-
Stock based compensation		(1	)				(1	)				(1	)
Other incidentals		-					(1	)				(1	)
Standard Products segment non-GAAP gross profit	$	89				$	97				$	113

Standard Products segment GAAP gross margin		31.8	%				33.2	%				34.1	%
Standard Products segment non-GAAP gross margin		32.5	%				35.8	%				35.0	%

Standard Products segment GAAP operating profit		39					103					52
PPA effects		(12	)				(12	)				(14	)
Restructuring		(1	)				(4	)				-
Stock based compensation		(7	)				(11	)				(7	)
Other incidentals		-					66		³	⁾		(1	)
Standard Products segment non-GAAP operating profit	$	59				$	64				$	74

Standard Products segment GAAP operating margin		14.2	%				38.0	%				16.1	%
Standard Products segment non-GAAP operating margin		21.5	%				23.6	%				22.9	%



Corporate and Other Revenue	$	39				$	29				$	40
Percent of Total Revenue		1.8	%				1.8	%				2.7	%
Corporate and Other segment GAAP gross profit		-					(5	)				(3	)
PPA effects		(2	)				(2	)				(2	)
Restructuring		(1	)				(1	)				-
Stock based compensation		(1	)				-					-
Other incidentals		-					2					-
Corporate and Other segment non-GAAP gross profit	$	4				$	(4	)			$	(1	)

Corporate and Other segment GAAP gross margin		0.0	%				-17.2	%				-7.5	%
Corporate and Other segment non-GAAP gross margin		10.3	%				-13.8	%				-2.5	%

Corporate and Other segment GAAP operating profit		(24	)				(85	)				(23	)
PPA effects		(5	)				(5	)				(5	)
Restructuring		(5	)				(40	)	²	⁾		(1	)
Stock based compensation		-					(1	)				-
Merger-related costs		(5	)				(27	)				(8	)
Other incidentals		(2	)				-					(1	)
Corporate and Other segment non-GAAP operating profit	$	(7	)			$	(12	)			$	(8	)

Corporate and Other segment GAAP operating margin		-61.5	%				-293.1	%				-57.5	%
Corporate and Other segment non-GAAP operating margin		-17.9	%				-41.4	%				-20.0	%



1) Includes Purchase Accounting effect on inventory that was fully amortized as of April 3, 2016. 2) Includes severance, contract termination costs and accelerated vesting charges related to the acquisition of Freescale. 3) Includes the recognition of the gain on the sale of the RF Power and Bipolar businesses.

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 Next Page »