NXP Semiconductors Reports First Quarter 2024 Results

EINDHOVEN, The Netherlands, April 29, 2024 – NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial
results for the first quarter, which ended March 31, 2024. “NXP delivered quarterly revenue of $3.13 billion, in-line with the
midpoint of guidance with all our focus end-markets performing as expected. Our first-quarter results, guidance for thesecond quarter, and our early views into the second half of the year underpin a cautious optimism that NXP is successfully
navigating through this industry-wide cyclical downturn. We continue to manage what is in our control enabling NXP todrive solid profitability and earnings in a challenging demand environment,” said Kurt Sievers, NXP President and Chief
Executive Officer.
Key Highlights for the First Quarter 2024:
•
•
•
•
•

•
•

•

•

•

Revenue was $3.13 billion, up 0.2 percent year-on-year;
GAAP gross margin was 57.0 percent, GAAP operating margin was 27.4 percent and GAAP diluted Net Income
per Share was $2.47;
Non-GAAP gross margin was 58.2 percent, non-GAAP operating margin was 34.5 percent, and non-GAAP diluted
Net Income per Share was $3.24;
Cash flow from operations was $851 million, with net capex investments of $224 million, resulting in non-GAAP
free cash flow of $627 million;
During the first quarter of 2024, NXP continued to execute its capital return policy with the payment of $261 million
in cash dividends, and the repurchase of $303 million of its common shares. The total capital return of $564
million in the quarter represented 90 percent of first quarter non-GAAP free cash flow. On a trailing twelve month
basis, capital return to shareholders represented $2.39 billion or 82 percent of non-GAAP free cash flow. Theinterim dividend for the first quarter 2024 was paid in cash on April 10, 2024 to shareholders of record as of March
21, 2024. Subsequent to the end of the first quarter, between April 1, 2024 and April 26, 2024, NXP executed via a
10b5-1 program additional share repurchases totaling $97 million;
On March 1, 2024, NXP fully retired at maturity the $1 billion aggregate principal amount of outstanding 4.875%
Senior Unsecured Notes due 2024;
On January 9, 2024, NXP announced the extension of its automotive radar one-chip family. The new SAF86xx
integrates a high-performance radar transceiver, a multi-core radar processor and a hardware engine for state-ofthe-art secure data communication over Automotive Ethernet;
On January 11, 2024, NXP announced it has signed a memorandum of understanding with Honeywell to help
optimize the way commercial buildings sense and securely control energy consumption. The collaboration aims tohelp make buildings operate more intelligently by integrating NXP Semiconductors’ neural network-enabled,industrial-grade applications processors into Honeywell’s building management systems (BMS);On March 19, 2024, NXP published its 2023 Corporate Sustainability Report (CSR), reinforcing its commitment
toward transparency and sustainable business practices. Detailing NXP’s overall Environmental, Social andGovernance (ESG) strategy and guiding principles, the report highlights the company’s year-on-year progress inreaching its mid-term and long-term ESG goals; andOn March 28, 2024, NXP announced the S32 CoreRide platform, the industry-first platform to combine
processing, vehicle networking and system power management with integrated software to address thecomplexity, scalability, cost-efficiency and development efforts required for next-generation Software Defined
Vehicles ("SDV"). Coincident with the CoreRide announcement, NXP introduced the S32N family of vehicle superintegration processors offering best-in-class real-time performance that enables S32 CoreRide central compute
solutions, empowering OEMs with efficient and flexible processing choices. The 5nm S32N family greatly
simplifies complex vehicle architecture development and cuts costs for automakers and tier-1 suppliers.
1

Summary of Reported First 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)
Operating Income Adjustments (i)Non-GAAP Operating Income
GAAP Operating Margin
Non-GAAP Operating Margin

Q1 2024 Q4 2023 Q1 2023 Q - Q$ 3,126$ 3,422$ 3,121-9%$ 1,783$ 1,937$ 1,770-8%$ (35) $ (73) $ (46)
$ 1,818$ 2,010$ 1,816-10%
57.0 %
56.6 %
56.7 %
58.2 %
58.7 %
58.2 %
$ 856
$ 907
$ 825
-6%
$ (224) $ (312) $ (260)$ 1,080$ 1,219$ 1,085-11%
27.4 %
26.5 %
26.4 %
34.5 %
35.6 %
34.8 %GAAP Net Income (Loss) attributable to Stockholders
Net Income Adjustments (i)Non-GAAP Net Income (Loss) Attributable to Stockholders
GAAP diluted Net Income (Loss) per Share (ii)Non-GAAP diluted Net Income (Loss) per Share (ii)$ 639
$ (201)$ 840$ 2.47$ 3.24$ 697$ (269)$ 966$ 2.68$ 3.71

Y-Y
—%
1%
—%

4%
—%

$ 615
$ (219)$ 834$ 2.35$ 3.19Additional information
Q1 2024 Q4 2023 Q1 2023
$ 1,804 $ 1,899 $ 1,828
$
574 $
662 $
504
$
349 $
406 $
260
$
399 $
455 $
529
144
132
135
65
72
68
26
24
31
105
84
98
1.6
1.5
1.6
1.9x
2.1x
2.0x
1.3x
1.3x
1.3x

Automotive
Industrial & IoT
MobileComm. Infra. & Other
DIO
DPO
DSO
Cash Conversion Cycle
Channel Inventory (months)
Gross Financial Leverage (iii)
Net Financial Leverage (iv)

Q-Q
-5%
-13%
-14%
-12%

Y-Y
-1%
14%
34%
-25%

1. Additional Information for the First 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.

2

Guidance for the Second Quarter 2024: ($ millions, except Per Share data) (1)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

GAAP
Low
Mid
High
$3,025$3,125$3,225
-3%
0%
3%
-8%
-5%
-2%
$1,715$1,788$1,863
56.7%
57.2%
57.8%
$821
$884
$949
27.1%
28.3%
29.4%
$(69)
$(69)
$(69)
17.2%-18.2%
$(9)
$(9)
$(9)
258.5
258.5
258.5
$2.36
$2.56
$2.77

Guidance Range
Reconciliation$(40)$(179)$(6)$(4)

non-GAAP
Low
Mid
High
$3,025$3,125$3,225
-3%
0%
3%
-8%
-5%
-2%
$1,755$1,828$1,903
58.0%
58.5%
59.0%
$1,000$1,063$1,128
33.1%
34.0%
35.0%
$(63)
$(63)
$(63)
16.3%-17.3%
$(5)
$(5)
$(5)
258.5
258.5
258.5
$3.00
$3.20
$3.41

Note (1) Additional Information:
1.
2.
3.
4.
5.

GAAP Gross Profit is expected to include Purchase Price Accounting (“PPA”) effects, $(12) million; Share-based Compensation, $(15) million;
Other Incidentals, $(13) million;
GAAP Operating Income (loss) is expected to include PPA effects, $(42) million; Share-based Compensation, $(115) million; Restructuring andOther Incidentals, $(22) million;
GAAP Financial Income (expense) is expected to include Other financial expense $(6) million;
GAAP Non-Controlling Interest (NCI) and Other includes non-controlling interest $(5) million and Other $(4) million;
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, the adjustment 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 vary materiallyfrom 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 the noteregarding "Forward-looking Statements." We undertake no obligation to publicly update or revise any forward-looking statements, including the guidance
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, to assess
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 greatertransparency 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 preparedin accordance with GAAP. The presentation of these and other similar items in NXP’s non-GAAP financial results should not be interpreted as implyingthat these items are non-recurring, infrequent, or unusual. Reconciliations of these non-GAAP measures to the most comparable measures calculated inaccordance with GAAP are provided in the financial statements portion of this release in a schedule entitled “Financial Reconciliation of GAAP to nonGAAP 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, aswell 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 nonGAAP basis: (i) Gross profit, (ii) Gross margin, (iii) Research and development, (iv) Selling, general and administrative, (v) Amortization of acquisitionrelated 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)3EBITDA, adjusted EBITDA and trailing 12 month adjusted EBITDA, and (xv) free cash flow, trailing 12 month free cash flow and trailing 12 month free
cash flow as a percent of Revenue. The non-GAAP information excludes, where applicable, the amortization of acquisition related intangible assets, thepurchase accounting effect on inventory and property, plant and equipment, merger related costs (including integration costs), certain items related todivestitures, share-based compensation expense, restructuring and asset impairment charges, extinguishment of debt, foreign exchange gains andlosses, 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 nonGAAP 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 estimatesor 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, April 30, 2024 at 8:00 a.m. U.S. Eastern Standard Time (EST) toreview the first 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) brings together bright minds to create breakthrough technologies that make the connected world better,safer and more secure. As a world leader in secure connectivity solutions for embedded applications, NXP is pushing boundaries in the automotive,
industrial & IoT, mobile, and communication infrastructure markets while delivering solutions that advance a more sustainable future. Built on more than
60 years of combined experience and expertise, the company has approximately 34,200 team members in more than 30 countries and posted revenueof $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 and regulations,
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 tomeet 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 secure adequate and timely supply ofequipment and materials from suppliers; our ability to avoid operational problems and product defects and, if such issues were to arise, to correct themquickly; our ability to form strategic partnerships and joint ventures and to successfully cooperate with our alliance partners; 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 and resulting regional instability, sanctions andany 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 estimated effective 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 varietyof 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 to be 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 theUnited 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 or circumstances or otherwise. For a discussion of potential risks and uncertainties, pleaserefer 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 fromthe 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

4

NXP Semiconductors
Table 1: Condensed consolidated statement of operations (unaudited)($ in millions except share data)

Three months ended
March 31,2024$

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

December 31,
2023

April 2, 2023

3,126 $
(1,343)
1,783
(564)
(306)
(51)
(921)
(6)
856

3,422 $
(1,485)
1,937
(651)
(311)
(63)
(1,025)
(5)
907

3,121
(1,351)
1,770
(577)
(280)
(85)
(942)
(3)
825

—
(70)
786
(141)
(1)
644
5
639

—
(78)
829
(124)
(2)
703
6
697

—
(82)
743
(118)
(2)
623
8
615

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

$
$

2.49
2.47

$
$

2.71
2.68

$
$

2.37
2.35

Weighted average number of shares of common stock outstanding during the period (in thousands):
256,567
258,954

Basic
Diluted5257,285
260,298

259,576
261,210NXP Semiconductors
Table 2: Condensed consolidated balance sheet (unaudited)($ in millions)

As ofDecember 31,
2023

March 31, 2024

April 2, 2023

ASSETS
Current assets:
Cash and cash equivalents
Short-term deposits
Accounts receivable, net
Inventories, net
Other current assets
Total current assets

$

2,908
400
881
2,102
603
6,894

$

3,862
409
894
2,134
565
7,864

$

3,930
—
1,063
1,977
387
7,357

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

2,338
3,304
839
9,945
16,426

2,289
3,323
922
9,955
16,489

2,095
3,123
1,208
9,949
16,375

Total assets

23,32024,35323,732

LIABILITIES AND EQUITYCurrent liabilities:
Accounts payable
Restructuring liabilities-current
Other current liabilities
Short-term debt
Total current liabilities

954
68
1,906
—
2,928

1,164
92
1,855
1,000
4,111

1,002
27
2,186
998
4,213

Non-current liabilities:
Long-term debt
Restructuring liabilities
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities

10,1789
46
1,009
11,242

10,1759
44
1,054
11,282

10,1697
38
1,057
11,271

Non-controlling interests
Stockholders’ equity
Total equity

321
8,829
9,150

316
8,644
8,960

299
7,949
8,248

Total liabilities and equity

23,32024,35323,732

6

NXP Semiconductors
Table 3: Condensed consolidated statement of cash flows (unaudited)Three months ended($ in millions)
March 31,2024
Cash flows from operating activities:
Net income (loss)$

644

December 31,
2023

April 2, 2023

$

$

703

623

Adjustments to reconcile net income (loss) to net cash provided by (used for) 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
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
Other items
Net cash provided by (used for) operating activities

235
115
1
2
(2)
1
2
(64)

269
107
—
2
—
2
—
(97)

283
99
1
2
—
2
1
(62)

(25)
32
(102)
6
3
3
851

(20)
6
101
65
7
(8)
1,137

(138)
(196)
52
(33)
5
(7)
632

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
Investment in short-term deposits
Proceeds of short-term deposits
Purchase of investments
Proceeds from the sale of investments
Net cash provided by (used for) investing activities

(32)
(226)
2
2
—
9
(34)
5
(274)

(44)
(175)
—
—
(409)
—
(1)
—
(629)

(42)
(251)
—
—
—
—
(58)
—
(351)

Cash flows from financing activities:
Repurchase of long-term debt
Dividends paid to common stockholders
Proceeds from issuance of common stock through stock plans(1,000)
(261)
37

—
(261)
1

—
(219)
33

Purchase of treasury shares and restricted stock unit
withholdings
Other, net
Net cash provided by (used for) financing activities

(303)
(1)
(1,528)

(434)
—
(694)

(11)
(1)
(198)

Effect of changes in exchange rates on cash positions
Increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

(3)
(954)
3,862
2,908

6
(180)
4,042
3,862

2
85
3,845
3,930

38
198

83
221

54
294

2
—

—
—

—
—

223

266

176

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

7

NXP Semiconductors
Table 4: Financial Reconciliation of GAAP to non-GAAP Results (unaudited)($ in millions)Three months ended
March 31,2024

GAAP Gross Profit
PPA Effects
Restructuring
Share-based compensation
Other incidentals
Non-GAAP Gross Profit
GAAP Gross margin
Non-GAAP Gross margin
GAAP Research and development
Restructuring
Share-based compensation
Other incidentals
Non-GAAP Research and development
GAAP Selling, general and administrative
PPA effects
Restructuring
Share-based compensation
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)
Income tax effectNon-GAAP Income tax benefit (provision)

$

$

$

$
$

$
$

$

$
$

8

1,783
(12)
(3)
(15)
(5)
1,818
57.0 %
58.2 %
(564)
(3)
(58)
(1)
(502)
(306)
—
(1)
(42)
(29)
(234)
856
(63)
(7)
(115)
(39)
1,080
27.4 %
34.5 %
(141)
30
(171)

December 31,
2023

April 2, 2023

$

$

$

$

$
$

$
$

$

$
$

1,937
(13)
(13)
(14)
(33)
2,010
56.6 %
58.7 %
(651)
(49)
(55)
(1)
(546)
(311)
(1)
(22)
(38)
(5)
(245)
907
(77)
(84)
(107)
(44)
1,219
26.5 %
35.6 %
(124)
54
(178)

$

$

$
$

$
$

$

$
$

1,770
(13)
2
(13)
(22)
1,816
56.7 %
58.2 %
(577)
(14)
(52)
(1)
(510)
(280)
(1)
(6)
(34)
(21)
(218)
825
(99)
(18)
(99)
(44)
1,085
26.4 %
34.8 %
(118)
49
(167)

($ in millions)Three months ended
March 31,2024

GAAP Net income (loss) attributable to stockholders
PPA Effects
Restructuring
Share-based compensation
Other incidentals
Other adjustments:
Foreign exchange loss
Other financial expense
Income tax effectResults relating to equity-accounted investees
Non-GAAP Net income (loss) attributable to stockholders$

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

Non-GAAP net income (loss) per common share attributable to stockholders - diluted

$

$

9

639
(63)
(7)
(115)
(39)
(1)
(5)
30
(1)
840

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

December 31,
2023

April 2, 2023

$

$

$

$

—
(0.02)
0.11
—
3.24

697
(77)
(84)
(107)
(44)
(6)
(3)
54
(2)
966

2.68
(0.30)(0.32)(0.41)(0.17)$$(0.02)(0.01)
0.21(0.01)
$

3.71

615
(99)
(18)
(99)
(44)
(3)
(3)
49
(2)
834

2.35
(0.38)(0.07)(0.38)(0.17)(0.01)(0.01)
0.19(0.01)$

3.19

NXP Semiconductors
Table 5: Adjusted EBITDA and Free Cash Flow (unaudited)($ in millions)Three months ended
March 31,2024

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)
Trailing twelve month adjusted EBITDA (Non-GAAP)
1)

$

644

$

70
141
145
90
1,090

$
$

1
7
115
39
1,252
5,395

Excluding depreciation/amortization within:– other incidental items

December 31,
2023

April 2, 2023

$

703

$

623

$

78
124
167
102
1,174

$

82
118
160
123
1,106

$
$

2
84
107
44
1,411
5,410

$
$

2
18
99
42
1,267
5,457

—

$

2

—

Three months ended($ in millions)
March 31,2024

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

851
(224)
627
2,933
22 %

10

December 31,
2023

April 2, 2023

$

$

$
$

1,137
(175)
962
2,687
20 %

$
$

632
(251)
381
2,638
20 %