NXP Semiconductors
Table 5: Adjusted EBITDA and Free Cash Flow (unaudited)
| ($ in millions) | Three months ended | Full-year | |||||||||||||||||
|
December 31,
2019 |
September 29,
2019 |
December 31,
2018 | 2019 | 2018 | |||||||||||||||
| Net income (loss) | $ | 123 | $ | 119 | $ | 289 | $ | 272 | $ | 2,258 | |||||||||
| Reconciling items to adjusted net income | |||||||||||||||||||
| Financial (income) expense | 93 | 85 | 77 | 350 | 335 | ||||||||||||||
| (Benefit) provision for income taxes | (20 | ) | 28 | (141 | ) | 20 | 176 | ||||||||||||
| Depreciation | 131 | 135 | 124 | 518 | 478 | ||||||||||||||
| Amortization | 391 | 382 | 379 | 1,529 | 1,509 | ||||||||||||||
| Adjusted net income | $ | 718 | $ | 749 | $ | 728 | $ | 2,689 | $ | 4,756 | |||||||||
| Reconciling items to adjusted EBITDA | |||||||||||||||||||
| Results of equity-accounted investees | 1 | 1 | (1 | ) | (1 | ) | (59 | ) | |||||||||||
| Purchase accounting effect on inventory | 8 | — | — | 8 | — | ||||||||||||||
| Restructuring | (1 | ) | (1 | ) | 1 | 28 | 6 | ||||||||||||
| Stock based costs | 89 | 84 | 93 | 346 | 314 | ||||||||||||||
| Merger-related costs | 4 | 6 | 15 | 33 | (1,848 | ) | |||||||||||||
| Other incidental items | 4 | (17 | ) | 13 | (3 | ) | (18 | ) | |||||||||||
| Adjusted EBITDA | $ | 823 | $ | 822 | $ | 849 | $ | 3,100 | $ | 3,151 | |||||||||
| Trailing twelve month adjusted EBITDA | $ | 3,100 | $ | 3,126 | $ | 3,151 | $ | 3,100 | $ | 3,151 | |||||||||
| ($ in millions) | Three months ended | Full-year | |||||||||||||||||
|
December 31,
2019 |
September 29,
2019 |
December 31,
2018 | 2019 | 2018 | |||||||||||||||
| Net cash provided by (used for) operating activities | $ | 814 | $ | 746 | $ | 731 | $ | 2,373 | $ | 4,369 | |||||||||
| Net capital expenditures on property, plant and equipment | (138 | ) | (115 | ) | (170 | ) | (503 | ) | (610 | ) | |||||||||
| Non-GAAP free cash flow | $ | 676 | $ | 631 | $ | 561 | $ | 1,870 | $ | 3,759 | |||||||||
| Non-GAAP free cash flow as percent of Revenue | 29 | % | 28 | % | 23 | % | 21 | % | 40 | % | |||||||||
