Silicon Laboratories Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) | ||||
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| Nine Months Ended | |||
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| October 2,
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| October 3,
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Operating Activities |
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Net income | $2,120,497 |
| $ 3,583 |
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Adjustments to reconcile net income to cash provided by operating activities of continuing operations: |
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Income from discontinued operations, net of income taxes | (2,183,884) |
| (97,721) |
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Depreciation of property and equipment | 12,925 |
| 11,789 |
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Amortization of intangible assets and other assets | 33,971 |
| 31,118 |
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Amortization of debt discount and debt issuance costs | 17,278 |
| 14,946 |
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Loss on extinguishment of convertible debt | 3,370 |
| 3,977 |
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Stock-based compensation expense | 36,916 |
| 36,252 |
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Deferred income taxes | (3,132) |
| (7,382) |
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Changes in operating assets and liabilities: |
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Accounts receivable | 22,573 |
| (2,902) |
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Inventories | (11,320) |
| 12,499 |
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Prepaid expenses and other assets | 27,598 |
| (5,602) |
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Accounts payable | (4,522) |
| 6,103 |
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Other current liabilities and income taxes | (10,981) |
| 3,608 |
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Deferred revenue and returns liability | (1,657) |
| 2,643 |
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Other non-current liabilities | (11,388) |
| 7,525 |
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Net cash provided by operating activities of continuing operations | 48,244 |
| 20,436 |
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Investing Activities |
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Purchases of marketable securities | (1,212,572) |
| (418,227) |
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Sales and maturities of marketable securities | 368,416 |
| 427,235 |
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Purchases of property and equipment | (19,468) |
| (13,589) |
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Purchases of other assets | (578) |
| (920) |
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Acquisition of business, net of cash acquired | -- |
| (316,809) |
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| Net cash used in investing activities of continuing operations | (864,202) |
| (322,310) |
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| Financing Activities |
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| Proceeds from issuance of debt | -- |
| 845,000 |
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| Payments on debt | (140,572) |
| (618,729) |
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| Repurchases of common stock | (688,373) |
| (16,287) |
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| Payment of taxes withheld for vested stock awards | (21,393) |
| (17,562) |
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| Proceeds from the issuance of common stock | 8,619 |
| 8,155 |
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| Net cash provided by (used in) financing activities of continuing operations | (841,719) |
| 200,577 |
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| Discontinued Operations |
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| Operating activities | 69,685 |
| 106,527 |
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| Investing activities | 2,747,684 |
| (2,018) |
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| Net cash provided by discontinued operations | 2,817,369 |
| 104,509 |
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| Increase in cash and cash equivalents | 1,159,692 |
| 3,212 |
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| Cash and cash equivalents at beginning of period | 202,720 |
| 227,146 |
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| Cash and cash equivalents at end of period | $1,362,412 |
| $230,358 |
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Silicon Labs Announces Record IoT Revenue for Third Quarter 2021
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