NXP Semiconductors Reports Fourth Quarter and Full Year 2017

NXP Semiconductors Reports Fourth Quarter and Full Year 2017 Results


NXP Semiconductors
Table 6: Adjusted EBITDA and Free Cash Flow (unaudited)

($ in millions)	Three Months Ended									Full Year
	December 31, 2017			October 1, 2017			December 31, 2016			2017			2016

Net Income (loss)	$	768		$	123		$	537		$	2,272		$	259

Reconciling items to EBITDA
Financial (income) expense		79			76			96			366			453
(Benefit) provision for income taxes		(629	)		(30	)		(456	)		(483	)		(851	)
Depreciation		145			157			149			611			609
Amortization		397			380			381			1,562			1,596
EBITDA	$	760		$	706		$	707		$	4,328		$	2,066

Reconciling items to adjusted EBITDA
Results of equity-accounted investees		(8	)		(6	)		(4	)		(53	)		(11	)
Purchase accounting effect on inventory		-			-			-			-			448
Restructuring ¹⁾		-			7			5			1			67
Stock based compensation		78			68			82			281			338
Merger-related costs		32			42			37			139			67
Other incidental items ¹⁾		12			29			6			(1,539	)		6
Adjusted EBITDA	$	874		$	846		$	833		$	3,157		$	2,981

Trailing twelve month adjusted EBITDA	$	3,157		$	3,116		$	2,981		$	3,157		$	2,981


¹⁾ Excluding depreciation property, plant and equipment and amortization of software related to:
Restructuring		-			-			-			-			1
Other incidental items		-			-			(15	)		(4	)		(35	)



($ in millions)	Three Months Ended									Full Year
	December 31, 2017			October 1, 2017			December 31, 2016				2017			2016

Net cash provided by (used for) operating activities	$	738		$	643		$	737		$	2,447		$	2,303
Net capital expenditures on property, plant and equipment		(132	)		(161	)		(131	)		(550	)		(388	)

Non-GAAP free cash flow	$	606		$	482		$	606		$	1,897		$	1,915
Non-GAAP free cash flow as a percent of Revenue		25	%		20	%		25	%		21	%		20	%

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