Silicon Laboratories Inc. | |||
Condensed Consolidated Statements of Cash Flows | |||
(In thousands) | |||
(Unaudited) | |||
|
| |||
|
| Year Ended | ||
|
| December 29,
|
| December 30,
|
Operating Activities |
|
|
|
Net income | $ 83,591 |
| $ 47,092 |
Adjustments to reconcile net income to cash provided by
|
|
|
|
Depreciation of property and equipment | 15,912 |
| 14,766 |
Amortization of other intangible assets and other assets | 44,102 |
| 27,246 |
Amortization of debt discount and debt issuance costs | 12,892 |
| 10,146 |
Stock-based compensation expense | 50,077 |
| 44,752 |
Deferred income taxes | (8,210) |
| (26,452) |
Changes in operating assets and liabilities: |
|
|
|
Accounts receivable | 3,931 |
| 3,234 |
Inventories | 7,660 |
| (13,416) |
Prepaid expenses and other assets | (4,960) |
| 25,266 |
Accounts payable | 5,952 |
| (468) |
Other current liabilities and income taxes | (21,828) |
| 61,924 |
Deferred income, deferred revenue and returns liability | (6,202) |
| 4,453 |
Other non-current liabilities | (9,375) |
| (9,022) |
Net cash provided by operating activities | 173,542 |
| 189,521 |
|
|
|
|
|
Investing Activities |
|
|
|
Purchases of available-for-sale investments | (395,904) |
| (636,363) |
Sales and maturities of available-for-sale investments | 474,129 |
| 294,452 |
Purchases of property and equipment | (24,462) |
| (12,252) |
Purchases of other assets | (11,063) |
| (4,960) |
Acquisitions of businesses, net of cash acquired | (239,729) |
| (15,168) |
Net cash used in investing activities | (197,029) |
| (374,291) |
|
|
|
|
|
Financing Activities |
|
|
|
Proceeds from issuance of long-term debt, net | -- |
| 389,468 |
Payments on debt | -- |
| (72,500) |
Repurchases of common stock | (39,276) |
| -- |
Payment of taxes withheld for vested stock awards | (19,483) |
| (15,753) |
Proceeds from the issuance of common stock | 13,303 |
| 11,815 |
| Payment of acquisition-related contingent consideration | (3,380) |
| -- |
| Net cash provided by (used in) financing activities | (48,836) |
| 313,030 |
|
|
|
|
|
| Increase (decrease) in cash and cash equivalents | (72,323) |
| 128,260 |
| Cash and cash equivalents at beginning of period | 269,366 |
| 141,106 |
| Cash and cash equivalents at end of period | $197,043 |
| $269,366 |
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Silicon Labs Announces Fourth Quarter 2018 Results
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