NXP Semiconductors Reports First Quarter 2019 Results
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NXP Semiconductors | | | | | | | | |
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Table 5: Adjusted EBITDA and Free Cash Flow (unaudited) | | | | | | | | |
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| | ($ in millions) | |
Three Months Ended | | |
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March 31, 2019 | |
December 31, 2018 | |
April 1, 2018 | | |
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Net Income (loss) | |
$ |
(16 |
) | |
$ |
289 | | |
$ |
70 | | | |
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Reconciling items to adjusted net income | | | | | | | | |
| | Financial (income) expense | | | 83 | | | | 77 | | | | 68 | | | |
| | (Benefit) provision for income taxes | | | (9 | ) | | | (141 | ) | | | 2 | | | |
| | Depreciation | | | 124 | | | | 124 | | | | 116 | | | |
| | Amortization | | | 378 | | | | 379 | | | | 375 | | | |
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Adjusted net income | |
$ |
560 | | |
$ |
728 | | |
$ |
631 | | | |
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Reconciling items to adjusted EBITDA | | | | | | | | |
| | Results of equity-accounted investees | | | (4 | ) | | | (1 | ) | | | (2 | ) | | |
| | Restructuring | | | 25 | | | | 1 | | | | 1 | | | |
| | Stock based compensation | | | 86 | | | | 93 | | | | 69 | | | |
| | Merger-related costs | | | 13 | | | | 15 | | | | 26 | | | |
| | Other incidental items | | | 6 | | | | 13 | | | | 1 | | | |
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Adjusted EBITDA | |
$ |
686 | | |
$ |
849 | | |
$ |
726 | | | |
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Trailing twelve month adjusted EBITDA | |
$ |
3,111 | | |
$ |
3,151 | | |
$ |
3,176 | | | |
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| | ($ in millions) | |
Three Months Ended | | |
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March 31, 2019 | |
December 31, 2018 | |
April 1, 2018 | | |
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Net cash provided by (used for) operating activities
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$ |
296 | | |
$ |
731 | | |
$ |
620 | | | |
| | Net capital expenditures on property, plant and equipment | | | (144 | ) | | | (170 | ) | | | (156 | ) | | |
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Non-GAAP free cash flow | |
$ |
152 | | |
$ |
561 | | |
$ |
464 | | | |
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Non-GAAP free cash flow as a percent of Revenue | | |
7 |
% | | |
23 |
% | | |
21 |
% | | |
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