NXP Semiconductors Reports Second Quarter 2024 Results
July 22, 2024 at 4:10 PM EDT
EINDHOVEN, The Netherlands, July 22, 2024 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial results
for the second quarter, which ended June 30, 2024. “NXP delivered quarterly revenue of $3.13 billion, consistent with our guidance, with all our focus
end-markets performing in-line with our expectations. With our second quarter results and guidance for the third quarter NXP has successfully
navigated the cyclical trough in our businesses and we expect to resume sequential growth. We continue to manage what is in our control enabling
NXP to drive resilient profitability and earnings in a challenging demand environment,” said Kurt Sievers, NXP President and Chief Executive Officer.
Key Highlights for the Second Quarter 2024:

Revenue was $3.13 billion, down 5% percent year-on-year;
GAAP gross margin was 57.3% percent, GAAP operating margin was 28.7% percent and GAAP diluted Net Income per
Share was $2.54;
Non-GAAP gross margin was 58.6% percent, non-GAAP operating margin was 34.3% percent, and non-GAAP diluted Net
Income per Share was $3.20;
Cash flow from operations was $761 million, with net capex investments of $(184) million, resulting in non-GAAP free cash
flow of $577 million;
During the second quarter of 2024, NXP continued to execute its capital return policy with the payment of $260 million in
cash dividends, and the repurchase of $310 million of its common shares. The total capital return of $570 million in thequarter represented 99 percent of second quarter non-GAAP free cash flow. On a trailing twelve month basis, capital returnto shareholders represented $2.4 billion or 81 percent of non-GAAP free cash flow. The interim dividend for the second
quarter 2024 was paid in cash on July 10, 2024 to shareholders of record as of June 13, 2024. Subsequent to the end of
the second quarter, between July 1, 2024 and July 19, 2024, NXP executed via a 10b5-1 program additional share
repurchases totaling $69 million;
On April 9, 2024, NXP announced the 5nm S32N55 processor, the first device in the S32N family of vehicle superintegration processors. As the heart of the recently announced S32 CoreRide central compute solution, it offers scalable
combinations of safe, real-time and applications processing to address automakers’ diverse central compute needs;
On June 4, 2024, NXP announced a collaboration with ZF Friedrichshafen AG ("ZF"), a global leader in e-mobility, on
next-generation SiC-based traction inverter solutions for electric vehicles (EVs). ZF will adopt NXP's advanced GD316x
high-voltage isolated gate drivers, to accelerate the adoption of 800-V and SiC power devices for next generation allelectric vehicles; andOn June 5, 2024, NXP and Vanguard International Semiconductor Corp. ("VIS") announced the plan to create amanufacturing joint-venture VisionPower Semiconductor Manufacturing Company Pte Ltd (“VSMC”) which will build a new
300mm semiconductor wafer manufacturing facility in Singapore. The joint-venture fab will support 130nm to 40nm mixedsignal, power management and analog products, targeting the automotive, industrial, consumer and mobile end markets.
The underlying process technologies are planned to be licensed and transferred to the joint venture from TSMC.
Summary of Reported Second Quarter 2024 ($ millions, unaudited) (1)Total Revenue
GAAP Gross Profit$$

Gross Profit Adjustments(i)Non-GAAP Gross Profit
GAAP Gross Margin
Non-GAAP Gross Margin
GAAP Operating Income (Loss)$$

Q2 2024
3,127
1,792

$
$

Q1 2024
3,126
1,783

$
$

Q2 2023
3,299
1,881

$

(41) $
1,833 $
57.3%
58.6%
896 $

(35) $
1,818 $
57.0%
58.2%
856 $

(45)
1,926
57.0%
58.4%
937

Operating Income Adjustments(i)$Non-GAAP Operating Income$
GAAP Operating Margin
Non-GAAP Operating Margin
GAAP Net Income (Loss) attributable to Stockholders $(175) $
1,071 $
28.7%
34.3%
658 $

(224) $
1,080 $
27.4%
34.5%
639 $

(218)
1,155
28.4%
35.0%
698

(171) $

(201) $

(198)

Net Income Adjustments(i)

$

Q-Q
—%
1%

Y-Y
-5%
-5%

1%

-5%

5%

-4%

-1%

-7%

Non-GAAP Net Income (Loss) Attributable to
Stockholders

$

829

$

840

$

896

GAAP diluted Net Income (Loss) per Share(ii)

$

2.54

$

2.47

$

2.67

Non-GAAP diluted Net Income (Loss) per Share(ii)

$

3.20

$

3.24

$

3.43

Additional information
Automotive
Industrial & IoT
MobileComm. Infra. & Other
DIO
DPO
DSO
Cash Conversion Cycle
Channel Inventory (months)

$
$
$
$

Q2 2024
1,728
616
345
438
148
64
27
111
1.7

$
$
$
$

Q1 2024
1,804
574
349
399
144
65
26
105
1.6

$
$
$
$

Q2 2023
1,866
578
284
571
137
63
29
103
1.6

Gross Financial Leverage(iii)

1.9x

1.9x

2.1x

Net Financial Leverage(iv)

1.3x

1.3x

1.3x

Q-Q
-4%
7%
-1%
10%

Y-Y
-7%
7%
21%
-23%

1. Additional Information for the Second Quarter 2024:
i. For an explanation of GAAP to non-GAAP adjustments, please see “Non-GAAP Financial Measures”.
ii. Refer to Table 1 below for the weighted average number of diluted shares for the presented periods.
iii. Gross financial leverage is defined as gross debt divided by trailing twelve months adjusted EBITDA.
iv. Net financial leverage is defined as net debt divided by trailing twelve months adjusted EBITDA.
Guidance for the Third Quarter 2024: ($ millions, except Per Share data) (1)
Guidance Range
Reconciliation

GAAP
Total Revenue
Q-Q
Y-Y
Gross Profit
Gross Margin
Operating Income (loss)
Operating Margin
Financial Income (expense)
Tax rate
NCI & Other
Shares - diluted
Earnings Per Share - diluted

non-GAAP

Low

Mid

High

Low

Mid

High

$3,1501%-8%$1,794
57.0%
$906
28.8%
$(75)

$3,2504%-5%$1,868
57.5%
$970
29.8%
$(75)
17.3%-18.3%
$(11)
258.5
$2.80

$3,350
7%-2%$1,94458.0%$1,03630.9%$(75)$3,1501%-8%$1,82758.0%$1,07734.2%$(67)$3,2504%-5%$1,90158.5%$1,14135.1%$(67)16.3%-17.3%
$(9)
258.5
$3.42

$3,350
7%-2%$1,97759.0%$1,207
36.0%
$(67)

$(11)
258.5
$2.60

$(11)
258.5
$3.01

$(33)
$(171)
$(8)
$(2)

$(9)
258.5
$3.21

$(9)
258.5
$3.63

Note (1) Additional Information:

1. GAAP Gross Profit is expected to include Purchase Price Accounting (“PPA”) effects, $(12) million; Share-based
Compensation, $(15) million; Other Incidentals, $(6) million;
2. GAAP Operating Income (loss) is expected to include PPA effects, $(42) million; Share-based Compensation, $(116)
million; Restructuring and Other Incidentals, $(13) million;
3. GAAP Financial Income (expense) is expected to include Other financial expense $(8) million;
4. GAAP Non-Controlling Interest (NCI) and Other includes non-controlling interest $(8) million and Other $(3) million;
5. GAAP diluted EPS is expected to include the adjustments noted above for PPA effects, Share-based Compensation,
Restructuring and Other Incidentals in GAAP Operating Income (loss), the adjustment for Other financial expense, theadjustment for Non-controlling interest & Other and the adjustment on Tax due to the earlier mentioned adjustments.
NXP has based the guidance included in this release on judgments and estimates that management believes are reasonable given its assessment ofhistorical trends and other information reasonably available as of the date of this release. Please note, the guidance included in this release consists ofpredictions only, and is subject to a wide range of known and unknown risks and uncertainties, many of which are beyond NXP's control. The guidance
included in this release should not be regarded as representations by NXP that the estimated results will be achieved. Actual results may varymaterially from the guidance we provide today. In relation to the use of non-GAAP financial information see the note regarding "Non-GAAP Financial

Measures" below. For the factors, risks, and uncertainties to which judgments, estimates and forward-looking statements generally are subject see thenote regarding "Forward-looking Statements." We undertake no obligation to publicly update or revise any forward-looking statements, including theguidance set forth herein, to reflect future events or circumstances.
Non-GAAP Financial Measures
In managing NXP's business on a consolidated basis, management develops an annual operating plan, which is approved by our Board of Directors,
using non-GAAP financial measures, that are not in accordance with, nor an alternative to, U.S. generally accepted accounting principles (“GAAP”). In
measuring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions
taken to reduce costs with the goal of increasing our gross margin and operating margin and when assessing appropriate levels of research anddevelopment efforts. In addition, management relies upon these non-GAAP financial measures when making decisions about product spending,administrative budgets, and other operating expenses. We believe that these non-GAAP financial measures, when coupled with the GAAP results andthe reconciliations to corresponding GAAP financial measures, provide a more complete understanding of the Company’s results of operations and thefactors and trends affecting NXP’s business. We believe that they enable investors to perform additional comparisons of our operating results, toassess our liquidity and capital position and to analyze financial performance excluding the effect of expenses unrelated to core operating
performance, certain non-cash expenses and share-based compensation expense, which may obscure trends in NXP's underlying performance. This
information also enables investors to compare financial results between periods where certain items may vary independent of business performance,
and allow for greater transparency with respect to key metrics used by management.
These non-GAAP financial measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance
prepared in accordance with GAAP. The presentation of these and other similar items in NXP’s non-GAAP financial results should not be interpreted
as implying that these items are non-recurring, infrequent, or unusual. Reconciliations of these non-GAAP measures to the most comparable
measures calculated in accordance with GAAP are provided in the financial statements portion of this release in a schedule entitled “Financial
Reconciliation of GAAP to non-GAAP Results (unaudited).” Please refer to the NXP Historic Financial Model file found on the Financial Information
page of the Investor Relations section of our website at https://investors.nxp.com for additional information related to our rationale for using these
non-GAAP financial measures, as well as the impact of these measures on the presentation of NXP's operations.
In addition to providing financial information on a basis consistent with GAAP, NXP also provides the following selected financial measures on a
non-GAAP basis: (i) Gross profit, (ii) Gross margin, (iii) Research and development, (iv) Selling, general and administrative, (v) Amortization of
acquisition-related intangible assets, (vi) Other income, (vii) Operating income (loss), (viii) Operating margin, (ix) Financial Income (expense), (x)Income tax benefit (provision), (xi) Results relating to equity-accounted investees, (xii) Net income (loss) attributable to stockholders, (xiii) Earnings per
Share - Diluted, (xiv) EBITDA, adjusted EBITDA and trailing 12 month adjusted EBITDA, and (xv) free cash flow, trailing 12 month free cash flow andtrailing 12 month free cash flow as a percent of Revenue. The non-GAAP information excludes, where applicable, the amortization of acquisition
related intangible assets, the purchase accounting effect on inventory and property, plant and equipment, merger related costs (including integration
costs), certain items related to divestitures, share-based compensation expense, restructuring and asset impairment charges, extinguishment of debt,
foreign exchange gains and losses, income tax effect on adjustments described above and results from equity-accounted investments.
The difference in the benefit (provision) for income taxes between our GAAP and non-GAAP results relates to the income tax effects of the GAAP to
non-GAAP adjustments that we make and the income tax effect of any discrete items that occur in the interim period. Discrete items primarily relate to
unexpected tax events that may occur as these amounts cannot be forecasted (e.g., the impact of changes in tax law and/or rates, changes in
estimates or resolved tax audits relating to prior year tax provisions, the excess or deficit tax effects on share-based compensation, etc.).
Conference Call and Webcast Information
The company will host a conference call with the financial community on Tuesday, July 23, 2024 at 8:00 a.m. U.S. Eastern Standard Time (EST) toreview the second quarter 2024 results in detail.
Interested parties may preregister to obtain a user-specific access code for the call here.
The call will be webcast and can be accessed from the NXP Investor Relations website at www.nxp.com. A replay of the call will be available on the
NXP Investor Relations website within 24 hours of the actual call.
About NXP Semiconductors
NXP Semiconductors N.V. (NASDAQ: NXPI) is the trusted partner for innovative solutions in the automotive, industrial & IoT, mobile, andcommunications infrastructure markets. NXP's "Brighter Together" approach combines leading-edge technology with pioneering people to develop
system solutions that make the connected world better, safer, and more secure. The company has operations in more than 30 countries and posted
revenue of $13.28 billion in 2023. Find out more at www.nxp.com.
Forward-looking Statements
This document includes forward-looking statements which include statements regarding NXP’s business strategy, financial condition, results ofoperations, market data, as well as any other statements which are not historical facts. By their nature, forward-looking statements are subject tonumerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors,
risks and uncertainties include the following: market demand and semiconductor industry conditions; our ability to successfully introduce newtechnologies and products; the demand for the goods into which NXP’s products are incorporated; trade disputes between the U.S. and China,
potential increase of barriers to international trade and resulting disruptions to NXP's established supply chains; the impact of government actions andregulations, including restrictions on the export of US-regulated products and technology; increasing and evolving cybersecurity threats and privacy
risks, including theft of sensitive or confidential data; the ability to generate sufficient cash, raise sufficient capital or refinance corporate debt at or
before maturity to meet both NXP's debt service and research and development and capital investment requirements; our ability to accurately estimate
demand and match our production capacity accordingly or obtain supplies from third-party producers to meet demand; our access to production
capacity from third-party outsourcing partners, and any events that might affect their business or NXP’s relationship with them; our ability to secureadequate and timely supply of equipment and materials from suppliers; our ability to avoid operational problems and product defects and, if such
issues were to arise, to correct them quickly; our ability to form strategic partnerships and joint ventures and to successfully cooperate with our alliancepartners; our ability to win competitive bid selection processes; our ability to develop products for use in customers’ equipment and products; the ability

to successfully hire and retain key management and senior product engineers; global hostilities, including the invasion of Ukraine by Russia andresulting regional instability, sanctions and any other retaliatory measures taken against Russia and the continued hostilities and the armed conflict in
the Middle East, which could adversely impact the global supply chain, disrupt our operations or negatively impact the demand for our products in our
primary end markets; the ability to maintain good relationships with NXP's suppliers; and a change in tax laws could have an effect on our estimatedeffective tax rate. In addition, this document contains information concerning the semiconductor industry, our end markets and business generally,
which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the semiconductor industry, our end markets
and business will develop. NXP has based these assumptions on information currently available, if any one or more of these assumptions turn out tobe incorrect, actual results may differ from those predicted. While NXP does not know what impact any such differences may have on its business, if
there are such differences, its future results of operations and its financial condition could be materially adversely affected. Readers are cautioned not
to place undue reliance on these forward-looking statements, which speak to results only as of the date the statements were made. Except for any
ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or
obligation to publicly update or revise any forward-looking statements after we distribute this document, whether to reflect any future events orcircumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors listed in our SEC filings. Copies of our
SEC filings are available on our Investor Relations website, www.nxp.com/investor or from the SEC website, www.sec.gov.
For further information, please contact:
Investors:
Jeff Palmer
jeff.palmer@nxp.com+1 408 205 0687

Media:
Paige Iven
paige.iven@nxp.com+1 817 975 0602

NXP-CORP

NXP Semiconductors
Table 1: Condensed consolidated statement of operations (unaudited)Three months ended($ in millions except share data)
June 30, 2024
Revenue
Cost of revenue
Gross profit
Research and development
Selling, general and administrative
Amortization of acquisition-related intangible assets
Total operating expenses
Other income (expense)
Operating income (loss)
Financial income (expense):
Extinguishment of debt
Other financial income (expense)
Income (loss) before income taxes
Benefit (provision) for income taxes
Results relating to equity-accounted investees
Net income (loss)
Less: Net income (loss) attributable to non-controlling interests$

Net income (loss) attributable to stockholders
Earnings per share data:
Net income (loss) per common share attributable to stockholders in $Basic
Diluted$$

3,127(1,335)$

3,126(1,343)

July 2, 2023$

3,299
(1,418)

1,792
(594)
(270)
(28)

1,783
(564)
(306)
(51)

1,881
(589)
(274)
(81)

(892)
(4)

(921)
(6)

(944)
—

896

856

937

—
(75)

—
(70)

—
(74)

821
(154)
(3)

786
(141)
(1)

863
(158)
(1)

664
6

644
5

704
6

658

639

698

2.58
2.54

Weighted average number of shares of common stock outstanding during the period (in thousands):
Basic
255,478
Diluted258,732

NXP Semiconductors

March 31, 2024

$
$

2.49
2.47

256,567
258,954

$
$

2.69
2.67

259,160
261,303

Table 2: Condensed consolidated balance sheet (unaudited)
As of($ in millions)
June 30, 2024
ASSETS
Current assets:
Cash and cash equivalents
Short-term deposits
Accounts receivable, net
Inventories, net
Other current assets
Total current assets

$

2,859
400
927
2,148
546

March 31, 2024

$

2,908
400
881
2,102
603

July 2, 2023

$

3,863
—
1,061
2,107
416

6,880

6,894

7,447

Non-current assets:
Other non-current assets
Property, plant and equipment, net
Identified intangible assets, net
Goodwill

2,290
3,289
796
9,941

2,338
3,304
839
9,945

2,136
3,152
1,110
9,950

Total non-current assets

16,316

16,426

16,348

Total assets

23,19623,32023,795

929
62
1,622
499

954
68
1,906
—

967
23
2,096
999

3,112

2,928

4,085

LIABILITIES AND EQUITYCurrent liabilities:
Accounts payable
Restructuring liabilities-current
Other current liabilities
Short-term debt
Total current liabilities
Non-current liabilities:
Long-term debt
Restructuring liabilities
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities

9,681
7
48
1,003

10,1789
46
1,009

10,1718
40
1,014

10,73911,242

11,233

Non-controlling interests
Stockholders’ equity

327
9,018

321
8,829

305
8,172

Total equity

9,345

9,150

8,477

Total liabilities and equity

23,19623,32023,795NXP Semiconductors
Table 3: Condensed consolidated statement of cash flows (unaudited)Three months ended($ in millions)
June 30, 2024
Cash flows from operating activities:
Net income (loss)
Adjustments to reconcile net income (loss) to net cash provided by (usedfor) operating activities:
Depreciation and amortization
Share-based compensation
Amortization of discount (premium) on debt, net
Amortization of debt issuance costs
Net (gain) loss on sale of assets
Results relating to equity-accounted investees(Gain) loss on equity securities, net

$

664

213
114
1
1
—
3
3

March 31, 2024
$

644

235
115
1
2
(2)
1
2

July 2, 2023
$

704

281
102
—
2
(1)
1
(6)

Deferred tax expense (benefit)
Changes in operating assets and liabilities:(Increase) decrease in receivables and other current assets(Increase) decrease in inventories
Increase (decrease) in accounts payable and other liabilities(Increase) decrease in other non-current assets
Exchange differences

(23)

(64)

(75)

10
(46)
(220)
40
5
(4)

(25)
32
(102)
6
3
3

(20)
(129)
(144)
33
5
3

761

851

756

(55)
(185)
—
1
—
—
—

(32)
(226)
2
2
9
(34)
5

(51)
(201)
—
1
—
(4)
—

(239)

(274)

(255)

—
(260)
3

(1,000)
(261)
37

—
(264)
1

(310)
—

(303)
(1)

(302)
—

(567)
(4)

(1,528)
(3)

(565)
(3)

Cash and cash equivalents at beginning of period

(49)
2,908

(954)
3,862

(67)
3,930

Cash and cash equivalents at end of period

2,859

2,908

3,863

86
193

38
198

86
239

1
(1)

2
—

1
—

166

223

165

Other items
Net cash provided by (used for) operating activities
Cash flows from investing activities:
Purchase of identified intangible assets
Capital expenditures on property, plant and equipment
Insurance recoveries received for equipment damage
Proceeds from the disposals of property, plant and equipment
Proceeds of short-term deposits
Purchase of investments
Proceeds from the sale of investments
Net cash provided by (used for) investing activities
Cash flows from financing activities:
Repurchase of long-term debt
Dividends paid to common stockholders
Proceeds from issuance of common stock through stock plans
Purchase of treasury shares and restricted stock unit
withholdings
Other, net
Net cash provided by (used for) financing activities
Effect of changes in exchange rates on cash positions
Increase (decrease) in cash and cash equivalents

Net cash paid during the period for:
Interest
Income taxes, net of refunds
Net gain (loss) on sale of assets:
Cash proceeds from the sale of assets
Book value of these assets
Non-cash investing activities:
Non-cash capital expenditures

NXP Semiconductors
Table 4: Financial Reconciliation of GAAP to non-GAAP Results (unaudited)Three months ended($ in millions except share data)
June 30, 2024
GAAP Gross Profit
PPA Effects
Restructuring
Share-based compensation

$

1,783
(12)
(3)
(15)
(5)

$

1,881
(14)
—
(13)
(18)

$

1,833

$

1,818

$

1,926

$

Other incidentals
Non-GAAP Research and development

July 2, 2023

1,792
(12)
(4)
(15)
(10)

Other incidentals
Non-GAAP Gross Profit
GAAP Gross margin
Non-GAAP Gross margin
GAAP Research and development
Restructuring
Share-based compensation

March 31, 2024

$

$

57.3%
58.6%
(594) $
(4)
(58)
—

57.0%
58.2%
(564) $
(3)
(58)
(1)

57.0%
58.4%
(589)
—
(51)
(1)

(532)

(502)

(537)

$

$

GAAP Selling, general and administrative
PPA effects
Restructuring
Share-based compensation

$

(270)
(1)
2
(41)
(2)

$

(306)
—
(1)
(42)
(29)

$

(274)
—
—
(38)
(2)

$

(228)

$

(234)

$

(234)

$

896
(41)
(6)
(114)
(14)

$

856
(63)
(7)
(115)
(39)

$

937
(95)
—
(102)
(21)

$

1,071

$

1,080

$

1,155

Other incidentals
Non-GAAP Selling, general and administrative
GAAP Operating income (loss)
PPA effects
Restructuring
Share-based compensation
Other incidentals
Non-GAAP Operating income (loss)
GAAP Operating margin
Non-GAAP Operating margin
GAAP Income tax benefit (provision)

28.7%
34.3%
(154) $
15

27.4%
34.5%
(141) $
30

28.4%
35.0%
(158)
22

$

(169)

$

(171)

$

(180)

$

658
(41)
(6)
(114)
(14)

$

639
(63)
(7)
(115)
(39)

$

698
(95)
—
(102)
(21)

$

Income tax effectNon-GAAP Income tax benefit (provision)
GAAP Net income (loss) attributable to stockholders
PPA Effects
Restructuring
Share-based compensation
Other incidentals
Other adjustments:
Adjustments to financial income (expense)
Income tax effect

(8)
15
(3)

Results relating to equity-accounted investees
Non-GAAP Net income (loss) attributable to stockholders

GAAP net income (loss) per common share attributable tostockholders - diluted
PPA Effects
Restructuring
Share-based compensation
Other incidentals
Other adjustments:
Adjustments to financial income (expense)
Income tax effectResults relating to equity-accounted investees
Non-GAAP net income (loss) per common share attributable tostockholders - diluted

(6)
30
(1)

(1)
22
(1)

$

829

$

840

$

896

$

2.54
(0.16)(0.02)(0.44)(0.06)$

2.47(0.24)(0.03)(0.44)(0.15)$

2.67(0.37)—(0.39)(0.08)(0.03)
0.06(0.01)$

3.20(0.02)
0.11
—
$

3.24

—
0.08
—
$

3.43

NXP Semiconductors
Table 5: Financial Reconciliation of GAAP to non-GAAP Financial income (expense) (unaudited)Three months ended($ in millions)
June 30, 2024

March 31, 2024

July 2, 2023

GAAP Financial income (expense)
Foreign exchange loss
Other financial expense

$

(75)
(2)
(6)

$

(70)
(1)
(5)

$

(74)
(3)
2

Non-GAAP Financial income (expense)

$

(67)

$

(64)

$

(73)

NXP Semiconductors
Table 6: Financial Reconciliation of GAAP to non-GAAP Other income (expense) (unaudited)Three months ended($ in millions)
June 30, 2024

March 31, 2024

July 2, 2023

GAAP Other income (expense)
Other incidentals

$

(4)
(2)

$

(6)
(4)

$

—
—

Non-GAAP Other income (expense)

$

(2)

$

(2)

$

—

NXP Semiconductors
Table 7: Adjusted EBITDA and Free Cash Flow (unaudited)Three months ended($ in millions)
June 30, 2024
GAAP Net income (loss)
Reconciling items to EBITDA (Non-GAAP)
Financial (income) expense(Benefit) provision for income taxes
Depreciation
Amortization$

EBITDA (Non-GAAP)
Reconciling items to adjusted EBITDA (Non-GAAP)
Results of equity-accounted investees
Restructuring
Share-based compensation
Other incidental items$

Adjusted EBITDA (Non-GAAP)$

March 31, 2024

664

$

75
154
146
67
1,106

1,243
5,297

$

1,090

74
158
162
119
$

1
7
115
39
$

1,252
5,395

704

1,217
1
—
102
21

$

1,341
5,437

Three months ended($ in millions)
June 30, 2024
Net cash provided by (used for) operating activities
Net capital expenditures on property, plant and equipment$

Non-GAAP free cash flow
Trailing twelve month non-GAAP free cash flow
Trailing twelve month non-GAAP free cash flow
as percent of Revenue

Source: NXP USA, Inc.

July 2, 2023
$

70
141
145
90

3
6
114
14

Trailing twelve month adjusted EBITDA (Non-GAAP)

644

March 31, 2024

761
(184)

$

$

577

$

2,954
23%

July 2, 2023

851
(224)

$

$

627

$

556

$

2,933

$

2,643

22%

756
(200)

20%