STMicroelectronics Reports Q2 2018 Financial Results

STMicroelectronics N.V.
CONSOLIDATED STATEMENTS OF INCOME
(in millions of U.S. dollars, except per share data ($))

	Six months ended
	June 30,	July 1,
	2018	2017
	(Unaudited)	(Unaudited)

Net sales	4,463	3,728
Other revenues	31	16
NET REVENUES	4,494	3,744
Cost of sales	(2,695)	(2,320)
GROSS PROFIT	1,799	1,424
Selling, general and administrative	(542)	(473)
Research and development	(705)	(659)
Other income and expenses, net	26	32
Impairment, restructuring charges and other related closure costs	(20)	(11)
Total operating expenses	(1,241)	(1,111)
OPERATING INCOME	558	313
Interest expense, net	(5)	(9)
Other components of pension benefit costs	(5)	(6)
Income (loss) on equity-method investments	-	(2)
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST	548	296
Income tax expense	(44)	(34)
NET INCOME	504	262
Net income attributable to noncontrolling interest	(4)	(4)
NET INCOME ATTRIBUTABLE TO PARENT COMPANY	500	258

EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.56	0.29
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.55	0.28

NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EARNINGS PER SHARE	915.1	906.5

STMicroelectronics N.V.
CONSOLIDATED BALANCE SHEETS
As at	June 30,	March 31,	December 31,
In millions of U.S. dollars	2018	2018	2017
	(Unaudited)	(Unaudited)	(Audited)
ASSETS
Current assets:
Cash and cash equivalents	1,683	1,791	1,759
Short-term deposits	15	14	-
Marketable securities	429	429	431
Trade accounts receivable, net	1,106	1,042	1,149
Inventories	1,559	1,435	1,335
Other current assets	405	449	425
Total current assets	5,197	5,160	5,099
Goodwill	121	125	123
Other intangible assets, net	198	205	209
Property, plant and equipment, net	3,410	3,371	3,094
Non-current deferred tax assets	674	632	624
Long-term investments	58	58	57
Other non-current assets	391	517	475
	4,852	4,908	4,582
Total assets	10,049	10,068	9,681

LIABILITIES AND EQUITY
Current liabilities:
Short-term debt	118	119	118
Trade accounts payable	991	979	893
Other payables and accrued liabilities	887	940	897
Dividends payable to stockholders	168	6	60
Accrued income tax	40	41	52
Total current liabilities	2,204	2,085	2,020
Long-term debt	1,598	1,593	1,583
Post-employment benefit obligations	374	393	385
Long-term deferred tax liabilities	11	12	11
Other long-term liabilities	208	216	215
	2,191	2,214	2,194
Total liabilities	4,395	4,299	4,214
Commitment and contingencies
Equity
Parent company stockholders' equity
Common stock (preferred stock: 540,000,000 shares authorized, not issued; common stock: Euro 1.04 nominal value, 1,200,000,000 shares authorized, 911,141,920 shares issued, 901,354,389 shares outstanding)	1,157	1,157	1,157
Capital surplus	2,766	2,743	2,718
Retained earnings	1,215	1,212	973
Accumulated other comprehensive income	538	724	688
Treasury stock	(89)	(132)	(132)
Total parent company stockholders' equity	5,587	5,704	5,404
Noncontrolling interest	67	65	63
Total equity	5,654	5,769	5,467
Total liabilities and equity	10,049	10,068	9,681

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