NXP Semiconductors Reports Third Quarter 2017 Results


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


($ in millions)	Three Months Ended
	Oct. 1, 2017			July 2, 2017			Oct. 2, 2016

High Performance Mixed Signal (HPMS)		2,288			2,098			2,099
Standard Products		-			-			320
Product Revenue		2,288			2,098			2,419
Corporate and Other		99			104			50
Total Revenue	$	2,387		$	2,202		$	2,469



HPMS Revenue	$	2,288		$	2,098		$	2,099
Percent of Total Revenue		95.9	%		95.3	%		85.0	%
HPMS segment GAAP gross profit		1,203			1,066			1,059
PPA effects		(58	)		(74	)		(63	)
Stock based compensation		(7	)		(8	)		(10	)
Merger-related costs		(1	)		-			-
HPMS segment non-GAAP gross profit	$	1,269		$	1,148		$	1,132

HPMS segment GAAP gross margin		52.6	%		50.8	%		50.5	%
HPMS segment non-GAAP gross margin		55.5	%		54.7	%		53.9	%

HPMS segment GAAP operating profit		235			94			116
PPA effects		(425	)		(453	)		(428	)
Stock based compensation		(67	)		(67	)		(72	)
Merger-related costs		(3	)		(2	)		-
HPMS segment non-GAAP operating profit	$	730		$	616		$	616

HPMS segment GAAP operating margin		10.3	%		4.5	%		5.5	%
HPMS segment non-GAAP operating margin		31.9	%		29.4	%		29.3	%


Standard Products Revenue	$	-		$	-		$	320
Percent of Total Revenue		-			-			13.0	%
Standard Products segment GAAP gross profit		-			-			123
Other incidentals		-			-			14
Standard Products segment non-GAAP gross profit	$	-		$	-		$	109

Standard Products segment GAAP gross margin		-			-			38.4	%
Standard Products segment non-GAAP gross margin		-			-			34.1	%

Standard Products segment GAAP operating profit		-			-			85
Stock based compensation		-			-			(4	)
Other incidentals		-			-			11
Standard Products segment non-GAAP operating profit	$	-		$	-		$	78

Standard Products segment GAAP operating margin		-			-			26.6	%
Standard Products segment non-GAAP operating margin		-			-			24.4	%


Corporate and Other Revenue	$	99		$	104		$	50
Percent of Total Revenue		4.1	%		4.7	%		2.0	%
Corporate and Other segment GAAP gross profit		12			17			2
PPA effects		(1	)		(2	)		(1	)
Restructuring		(1	)		(1	)		(3	)
Stock based compensation		-			1			-
Corporate and Other segment non-GAAP gross profit	$	14		$	19		$	6

Corporate and Other segment GAAP gross margin		12.1	%		16.3	%		4.0	%
Corporate and Other segment non-GAAP gross margin		14.1	%		18.3	%		12.0	%

Corporate and Other segment GAAP operating profit		(72	)		(44	)		(27	)
PPA effects		(1	)		(2	)		(4	)
Restructuring		(7	)		(2	)		(3	)
Stock based compensation		(1	)		-			(1	)
Merger-related costs		(39	)		(33	)		(14	)
Other incidentals		(29	)		(16	)		(2	)
Corporate and Other segment non-GAAP operating profit	$	5		$	9		$	(3	)

Corporate and Other segment GAAP operating margin		-72.7	%		-42.3	%		-54.0	%
Corporate and Other segment non-GAAP operating margin		5.1	%		8.7	%		-6.0	%

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