NXP Semiconductors
Table 3: Condensed consolidated statement of cash flows (unaudited)
| ($ in millions) | Three months ended | ||||||||||
| April 4, 2021 | December 31, 2020 | March 29, 2020 | |||||||||
| Cash flows from operating activities: | |||||||||||
| Net income (loss) | $ | 364 | $ | 320 | $ | (13 | ) | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: | |||||||||||
| Depreciation and amortization | 341 | 316 | 540 | ||||||||
| Stock-based compensation | 91 | 89 | 107 | ||||||||
| Amortization of debt issuance costs | 2 | 2 | 1 | ||||||||
| Net (gain) loss on sale of assets | — | (4 | ) | (110 | ) | ||||||
| (Gain) loss on extinguishment of debt | — | 60 | — | ||||||||
| Results relating to equity-accounted investees | 1 | 1 | 1 | ||||||||
| (Gain) loss on equity securities, net | (3 | ) | (21 | ) | — | ||||||
| Deferred tax expense (benefit) | 12 | (75 | ) | (75 | ) | ||||||
| Changes in operating assets and liabilities: | |||||||||||
| (Increase) decrease in receivables and other current assets | (95 | ) | (50 | ) | 27 | ||||||
| (Increase) decrease in inventories | (26 | ) | 34 | (35 | ) | ||||||
| Increase (decrease) in accounts payable and other liabilities | 51 | 333 | 64 | ||||||||
| (Increase) decrease in other non-current assets | (8 | ) | 23 | 4 | |||||||
| Exchange differences | (1 | ) | 10 | (4 | ) | ||||||
| Other items | 3 | (9 | ) | 5 | |||||||
| Net cash provided by (used for) operating activities | 732 | 1,029 | 512 | ||||||||
| Cash flows from investing activities: | |||||||||||
| Purchase of identified intangible assets | (37 | ) | (35 | ) | (45 | ) | |||||
| Capital expenditures on property, plant and equipment | (150 | ) | (104 | ) | (143 | ) | |||||
| Proceeds from the disposals of property, plant and equipment | — | 1 | — | ||||||||
| Purchase of interests in businesses, net of cash acquired | — | (13 | ) | (10 | ) | ||||||
| Proceeds from sale of interests in businesses, net of cash divested | — | — | 161 | ||||||||
| Purchase of investments | (2 | ) | (15 | ) | — | ||||||
| Proceeds from the sale of investments | 8 | 2 | — | ||||||||
| Proceeds from return of equity investments | — | 1 | — | ||||||||
| Net cash provided by (used for) investing activities | (181 | ) | (163 | ) | (37 | ) | |||||
| Cash flows from financing activities: | |||||||||||
| Repurchase of long-term debt | — | (1,809 | ) | — | |||||||
| Dividends paid to non-controlling interests | — | (1 | ) | — | |||||||
| Dividends paid to common stockholders | (105 | ) | (105 | ) | (105 | ) | |||||
| Proceeds from issuance of common stock through stock plans | 31 | 8 | 29 | ||||||||
| Purchase of treasury shares and restricted stock unit withholdings | (905 | ) | (257 | ) | (355 | ) | |||||
| Other, net | — | (1 | ) | — | |||||||
| Net cash provided by (used for) financing activities | (979 | ) | (2,165 | ) | (431 | ) | |||||
| Effect of changes in exchange rates on cash positions | (5 | ) | 8 | (10 | ) | ||||||
| Increase (decrease) in cash and cash equivalents | (433 | ) | (1,291 | ) | 34 | ||||||
| Cash and cash equivalents at beginning of period | 2,275 | 3,566 | 1,045 | ||||||||
| Cash and cash equivalents at end of period | 1,842 | 2,275 | 1,079 | ||||||||
| Net cash paid during the period for: | |||||||||||
| Interest | 56 | 125 | 53 | ||||||||
| Income taxes, net of refunds | 40 | 45 | 39 | ||||||||
| Net gain (loss) on sale of assets: | |||||||||||
| Cash proceeds from the sale of assets | — | 2 | 161 | ||||||||
| Book value of these assets | — | 2 | (51 | ) | |||||||
| Non-cash investing activities: | |||||||||||
| Non-cash capital expenditures | 121 | 119 | 78 | ||||||||
