|
Silicon Laboratories Inc. | |||
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Condensed Consolidated Statements of Cash Flows | |||
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(In thousands) | |||
|
(Unaudited) | |||
|
| |||
|
|
Year Ended | ||
|
|
December 30,
|
|
December 31,
|
|
Operating Activities |
|
|
|
|
Net income |
$ 47,092 |
|
$ 61,494 |
|
Adjustments to reconcile net income to cash provided by
|
|
|
|
|
Depreciation of property and equipment |
14,766 |
|
13,216 |
|
Amortization of other intangible assets and other assets |
27,246 |
|
27,715 |
|
Amortization of debt discount and debt issuance costs |
10,146 |
|
-- |
|
Stock-based compensation expense |
44,752 |
|
39,628 |
|
Income tax shortfall from stock-based awards |
-- |
|
(1,671) |
|
Deferred income taxes |
(26,452) |
|
(4,087) |
|
Changes in operating assets and liabilities: |
|
|
|
|
Accounts receivable |
3,234 |
|
46 |
|
Inventories |
(13,416) |
|
(6,093) |
|
Prepaid expenses and other assets |
25,266 |
|
(3,568) |
|
Accounts payable |
(468) |
|
263 |
|
Other current liabilities and income taxes |
61,924 |
|
2,879 |
|
Deferred income on shipments to distributors |
4,453 |
|
9,713 |
|
Other non-current liabilities |
(9,022) |
|
(10,625) |
|
Net cash provided by operating activities |
189,521 |
|
128,910 |
|
|
|
|
|
|
Investing Activities |
|
|
|
|
Purchases of available-for-sale investments |
(636,363) |
|
(185,231) |
|
Sales and maturities of available-for-sale investments |
294,452 |
|
161,921 |
|
Purchases of property and equipment |
(12,252) |
|
(10,927) |
|
Purchases of other assets |
(4,960) |
|
(8,801) |
|
Acquisitions of businesses, net of cash acquired |
(15,168) |
|
(6,546) |
|
Net cash used in investing activities |
(374,291) |
|
(49,584) |
|
|
|
|
|
|
Financing Activities |
|
|
|
|
Proceeds from issuance of long-term debt, net |
389,468 |
|
-- |
|
Payments on debt |
(72,500) |
|
(5,000) |
|
Repurchases of common stock |
-- |
|
(40,543) |
|
Payment of taxes withheld for vested stock awards |
(15,753) |
|
(10,561) |
|
Proceeds from the issuance of common stock |
11,815 |
|
13,299 |
|
Payment of acquisition-related contingent consideration |
-- |
|
(9,500) |
|
Net cash provided by (used in) financing activities |
313,030 |
|
(52,305) |
|
|
|
|
|
|
Increase in cash and cash equivalents |
128,260 |
|
27,021 |
|
Cash and cash equivalents at beginning of period |
141,106 |
|
114,085 |
|
Cash and cash equivalents at end of period |
$269,366 |
|
$141,106 |
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Silicon Labs Announces Fourth Quarter 2017 Results
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