NXP Semiconductors Reports Fourth Quarter and Full-year 2018

NXP Semiconductors Reports Fourth Quarter and Full-year 2018 Results

NXP Semiconductors
Table 6: Adjusted EBITDA and Free Cash Flow (unaudited)
($ in millions)	Three Months Ended									Full Year
	Dec. 31, 2018			Sept. 30, 2018			Dec. 31, 2017				2018			2017
Net Income (loss)	$	289		$	1,833		$	768		$	2,258		$	2,272
Reconciling items to adjusted net income
Financial (income) expense		77			119			79			335			366
(Benefit) provision for income taxes		(141	)		311			(629	)		176			(483	)
Depreciation		124			119			145			478			611
Amortization		379			378			397			1,509			1,562
Adjusted net income	$	728		$	2,760		$	760		$	4,756		$	4,328
Reconciling items to adjusted EBITDA
Results of equity-accounted investees		(1	)		(52	)		(8	)		(59	)		(53	)
Restructuring		1			5			-			6			1
Stock based compensation		93			83			78			314			281
Merger-related costs		15			(1,914	)		32			(1,848	)		139
Other incidental items ¹⁾		13			(36	)		12			(18	)		(1,539	)
Adjusted EBITDA	$	849		$	846		$	874		$	3,151		$	3,157
Trailing twelve month adjusted EBITDA	$	3,151		$	3,176		$	3,157		$	3,151		$	3,157

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

($ in millions)	Three Months Ended									Full Year
	Dec. 31, 2018			Sept. 30, 2018			Dec. 31, 2017				2018			2017

Net cash provided by (used for) operating activities	$	731		$	2,615		$	738		$	4,369		$	2,447
Net capital expenditures on property, plant and equipment		(170	)		(155	)		(132	)		(610	)		(550	)
Non-GAAP free cash flow	$	561		$	2,460		$	606		$	3,759		$	1,897
Non-GAAP free cash flow as a percent of Revenue		23	%		101	%		25	%		40	%		21	%

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