Silicon Laboratories Inc. | ||||
Condensed Consolidated Statements of Cash Flows | ||||
(In thousands) | ||||
(Unaudited) | ||||
|
| ||||
|
| Six Months Ended | |||
|
| July 3,
|
| July 4,
|
|
Operating Activities |
|
|
|
|
Net income | $ 33,441 |
| $ 421 |
|
Adjustments to reconcile net income to cash provided by operating activities of continuing operations: |
|
|
|
|
Income from discontinued operations, net of income taxes | (77,088) |
| (67,857) |
|
Depreciation of property and equipment | 8,184 |
| 7,711 |
|
Amortization of intangible assets and other assets | 22,902 |
| 20,486 |
|
Amortization of debt discount and debt issuance costs | 11,822 |
| 8,359 |
|
Loss on extinguishment of convertible debt | 3,370 |
| 3,685 |
|
Stock-based compensation expense | 22,620 |
| 24,461 |
|
Deferred income taxes | (5,644) |
| 1,177 |
|
Changes in operating assets and liabilities: |
|
|
|
|
Accounts receivable | (4,377) |
| 7,070 |
|
Inventories | (4,447) |
| 8,021 |
|
Prepaid expenses and other assets | (5,489) |
| 22,976 |
|
Accounts payable | 14,711 |
| (769) |
|
Other current liabilities and income taxes | (10,626) |
| (15,480) |
|
Deferred revenue and returns liability | (175) |
| 6,678 |
|
Other non-current liabilities | (3,464) |
| 1,146 |
|
Net cash provided by operating activities of continuing operations | 5,740 |
| 28,085 |
|
|
|
|
|
|
|
Investing Activities |
|
|
|
|
Purchases of marketable securities | (80,426) |
| (199,347) |
|
Sales and maturities of marketable securities | 286,649 |
| 255,112 |
|
Purchases of property and equipment | (10,779) |
| (9,051) |
|
Purchases of other assets | (578) |
| (820) |
|
Acquisition of business, net of cash acquired | -- |
| (316,809) |
|
Net cash provided by (used in) investing activities of continuing operations | 194,866 |
| (270,915) |
|
|
|
|
|
|
|
Financing Activities |
|
|
|
|
| Proceeds from issuance of debt | -- |
| 845,000 |
|
| Payments on debt | (140,572) |
| (597,446) |
|
| Repurchases of common stock | (18,982) |
| (16,287) |
|
| Payment of taxes withheld for vested stock awards | (19,732) |
| (16,756) |
|
| Proceeds from the issuance of common stock | 8,388 |
| 7,757 |
|
| Net cash provided by (used in) financing activities of continuing operations | (170,898) |
| 222,268 |
|
|
|
|
|
|
|
| Discontinued Operations |
|
|
|
|
| Operating activities | 72,674 |
| 72,418 |
|
| Investing activities | (2,018) |
| (1,343) |
|
| Net cash provided by (used in) discontinued operations | 70,656 |
| 71,075 |
|
|
|
|
|
|
|
| Increase in cash and cash equivalents | 100,364 |
| 50,513 |
|
| Cash and cash equivalents at beginning of period | 202,720 |
| 227,146 |
|
| Cash and cash equivalents at end of period | $303,084 |
| $277,659 |
|
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Silicon Labs Announces Record Revenue for Second Quarter 2021
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Amazon, Google, IKEA, Schneider Electric and More Join Silicon Labs' 'Works With 2021'
