Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Three Months Ended

April 3,
2021

April 4,
2020

Operating Activities

Net income

$  13,509

$    2,244

Adjustments to reconcile net income to net cash provided by operating activities:

   Depreciation of property and equipment

4,529

4,183

   Amortization of other intangible assets and other assets

11,705

9,827

   Amortization of debt discount and debt issuance costs 

6,456

3,736

   Loss on extinguishment of convertible debt

3,370

--

   Stock-based compensation expense

13,826

15,313

   Deferred income taxes

(3,197)

(2,364)

   Changes in operating assets and liabilities:

      Accounts receivable

(8,530)

1,542

      Inventories

(12,626)

4,777

      Prepaid expenses and other assets

(13,621)

23,576

      Accounts payable

14,116

2,748

      Other current liabilities and income taxes

(13,429)

(9,134)

      Deferred revenue and returns liability

464

4,114

      Other non-current liabilities

(2,066)

(862)

Net cash provided by operating activities

14,506

59,700

Investing Activities

Purchases of available-for-sale investments

(8,251)

(70,910)

Sales and maturities of available-for-sale investments

161,392

126,920

Purchases of property and equipment

(6,176)

(4,135)

Purchases of other assets

(578)

(370)

Net cash provided by investing activities

146,387

51,505

Financing Activities

Proceeds from revolving line of credit

--

310,000

Payments on debt

(140,572)

--

Repurchases of common stock

--

(16,287)

Payment of taxes withheld for vested stock awards

(17,817)

(16,294)

Net cash provided by (used in) financing activities

277,419

Increase in cash and cash equivalents

2,504

388,624

Cash and cash equivalents at beginning of period

202,720

227,146

Cash and cash equivalents at end of period

$205,224

$615,770