NXP Semiconductors Reports Third Quarter 2013 Results

1. Please see "Discussion of GAAP to non-GAAP Reconciliation" on page 3 of this release.

Supplemental Information ($ millions, unaudited)

                                                                            
                                                 Percent                    
                                                    Q3                      
                       Q3 2013  Q2 2013  Q3 2012  Total     Q - Q    Y - Y  
                      -------- -------- -------- -------   ------   ------  
  Automotive          $    261 $    253 $    239      21%       3%       9% 
  Identification      $    329 $    339 $    275      26%      -3%      20% 
  Infrastructure &                                                          
   Industrial         $    202 $    180 $    171      16%      12%      18% 
  Portable &                                                                
   Computing          $    130 $    106 $    119      10%      23%       9% 
                      -------- -------- -------- -------                    
High Performance                                                            
 Mixed Signal (HPMS)  $    922 $    878 $    804      74%       5%      15% 
Standard Products                                                           
 (STDP)               $    291 $    281 $    316      23%       4%      -8% 
                      -------- -------- -------- -------                    
Product Revenue       $  1,213 $  1,159 $  1,120      97%       5%       8% 
Manufacturing                                                               
 Operations           $     36 $     29 $     49       3%      24%     -27% 
Corporate & Other     $      - $      - $      1       0%      NM       NM  
                      -------- -------- -------- -------                    
Total Revenue         $  1,249 $  1,188 $  1,170     100%       5%       7%

Product Revenue is the combination of revenue from the High Performance Mixed Signal (HPMS) and Standard Products (STDP) segments. Percent of quarterly total amounts may not add to 100 percent due to rounding.

Additional and Subsequent Information for the Third Quarter of 2013:

On September 24, 2013, NXP issued senior unsecured notes in the aggregate principal amount of $500 million, due September 2016, with a coupon of 3.5%. As of October 15, 2013 NXP has used the net proceeds of the offering to repay its outstanding $422 million of U.S. dollar-denominated 9.75% senior secured notes due August 2018.
Total gross debt at the end of the third quarter of 2013 was $3,697 million, a $316 million increase from the prior quarter as a result of timing between the issuance of the new 2016 senior unsecured notes, and the subsequent repayment of the $422 million 9.75% senior secured notes. Cash at the end of the third quarter of 2013 was $941 million, resulting in a net-debt position of $2,756 million, a $56 million reduction from the prior quarter.
Net cash interest paid in the third quarter of 2013 was $51 million.
NXP repurchased approximately 4.3 million shares in the third quarter of 2013 for a total cost of approximately $159 million.
SSMC, NXP's consolidated joint-venture wafer fab with TSMC, reported third quarter 2013 operating income of $44 million, EBITDA of $56 million and a closing cash balance of $291 million. During the third quarter SSMC paid a dividend of $120 million, of which $47 million was paid to TSMC
Utilization in NXP wafer fabs averaged 90 percent in the third quarter of 2013 compared to 91 percent in the year ago period and 90 percent in the prior quarter.

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