Netherlands | 98-1144352 | |||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. employer identification number) | |||||||
60 High Tech Campus | 5656 AG | |||||||
Eindhoven | ||||||||
Netherlands | ||||||||
(Address of principal executive offices) | (Zip code) |
+31 | 40 | 2729999 | |||||||||
(Registrant’s telephone number, including area code) |
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||
Common shares, EUR 0.20 par value | NXPI | The Nasdaq Global Select Market |
Large accelerated filer | ☒ | Accelerated filer | ☐ | ||||||||
Non-accelerated filer | ☐ | Smaller reporting company | ☐ | ||||||||
Emerging growth company | ☐ |
Page | ||||||||
For the three months ended | For the nine months ended | ||||||||||||||||||||||
October 2, 2022 | October 3, 2021 | October 2, 2022 | October 3, 2021 | ||||||||||||||||||||
Revenue | 3,445 | 2,861 | 9,893 | 8,024 | |||||||||||||||||||
Cost of revenue | (1,478) | (1,278) | (4,267) | (3,664) | |||||||||||||||||||
Gross profit | 1,967 | 1,583 | 5,626 | 4,360 | |||||||||||||||||||
Research and development | (548) | (492) | (1,608) | (1,429) | |||||||||||||||||||
Selling, general and administrative | (289) | (243) | (805) | (699) | |||||||||||||||||||
Amortization of acquisition-related intangible assets | (131) | (137) | (400) | (456) | |||||||||||||||||||
Total operating expenses | (968) | (872) | (2,813) | (2,584) | |||||||||||||||||||
Other income (expense) | 2 | — | 4 | — | |||||||||||||||||||
Operating income (loss) | 1,001 | 711 | 2,817 | 1,776 | |||||||||||||||||||
Financial income (expense): | |||||||||||||||||||||||
Extinguishment of debt | — | — | (18) | — | |||||||||||||||||||
Other financial income (expense) | (98) | (93) | (313) | (280) | |||||||||||||||||||
Income (loss) before income taxes | 903 | 618 | 2,486 | 1,496 | |||||||||||||||||||
Benefit (provision) for income taxes | (149) | (95) | (392) | (200) | |||||||||||||||||||
Results relating to equity-accounted investees | (4) | 3 | 5 | — | |||||||||||||||||||
Net income (loss) | 750 | 526 | 2,099 | 1,296 | |||||||||||||||||||
Less: Net income (loss) attributable to non-controlling interests | 12 | 7 | 34 | 27 | |||||||||||||||||||
Net income (loss) attributable to stockholders | 738 | 519 | 2,065 | 1,269 | |||||||||||||||||||
Earnings per share data: | |||||||||||||||||||||||
Net income (loss) per common share attributable to stockholders in $ | |||||||||||||||||||||||
Basic | 2.81 | 1.95 | 7.86 | 4.66 | |||||||||||||||||||
Diluted | 2.79 | 1.91 | 7.80 | 4.57 | |||||||||||||||||||
Weighted average number of shares of common stock outstanding during the period (in thousands): | |||||||||||||||||||||||
Basic | 262,180 | 266,557 | 262,620 | 272,314 | |||||||||||||||||||
Diluted | 264,705 | 271,359 | 264,838 | 277,886 |
For the three months ended | For the nine months ended | ||||||||||
September 29, 2019 | September 30, 2018 | September 29, 2019 | September 30, 2018 | ||||||||
Revenue | 2,265 | 2,445 | 6,576 | 7,004 | |||||||
Cost of revenue | (1,079 | ) | (1,189 | ) | (3,167 | ) | (3,396 | ) | |||
Gross profit | 1,186 | 1,256 | 3,409 | 3,608 | |||||||
Research and development | (396 | ) | (433 | ) | (1,219 | ) | (1,297 | ) | |||
Selling, general and administrative | (221 | ) | (252 | ) | (699 | ) | (742 | ) | |||
Amortization of acquisition-related intangible assets | (358 | ) | (362 | ) | (1,070 | ) | (1,085 | ) | |||
Total operating expenses | (975 | ) | (1,047 | ) | (2,988 | ) | (3,124 | ) | |||
Other income (expense) | 22 | 2,002 | 23 | 2,002 | |||||||
Operating income (loss) | 233 | 2,211 | 444 | 2,486 | |||||||
Financial income (expense): | |||||||||||
Extinguishment of debt | (1 | ) | — | (11 | ) | (26 | ) | ||||
Other financial income (expense) | (84 | ) | (119 | ) | (246 | ) | (232 | ) | |||
Income (loss) before income taxes | 148 | 2,092 | 187 | 2,228 | |||||||
Benefit (provision) for income taxes | (28 | ) | (311 | ) | (40 | ) | (317 | ) | |||
Results relating to equity-accounted investees | (1 | ) | 52 | 2 | 58 | ||||||
Net income (loss) | 119 | 1,833 | 149 | 1,969 | |||||||
Less: Net income (loss) attributable to non-controlling interests | 10 | 13 | 20 | 37 | |||||||
Net income (loss) attributable to stockholders | 109 | 1,820 | 129 | 1,932 | |||||||
Earnings per share data: | |||||||||||
Net income (loss) per common share attributable to stockholders in $ | |||||||||||
Basic | 0.39 | 5.64 | 0.46 | 5.74 | |||||||
Diluted | 0.38 | 5.60 | 0.45 | 5.69 | |||||||
Weighted average number of shares of common stock outstanding during the period (in thousands): | |||||||||||
Basic | 279,074 | 322,533 | 282,496 | 336,771 | |||||||
Diluted | 283,518 | 325,267 | 285,819 | 339,791 |
For the three months ended | For the nine months ended | ||||||||||||||||||||||
October 2, 2022 | October 3, 2021 | October 2, 2022 | October 3, 2021 | ||||||||||||||||||||
Net income (loss) | 750 | 526 | 2,099 | 1,296 | |||||||||||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||
Change in fair value cash flow hedges | (13) | (2) | (25) | (16) | |||||||||||||||||||
Change in foreign currency translation adjustment | (78) | (23) | (165) | (56) | |||||||||||||||||||
Change in net actuarial gain (loss) | 1 | — | — | — | |||||||||||||||||||
Total other comprehensive income (loss) | (90) | (25) | (190) | (72) | |||||||||||||||||||
Total comprehensive income (loss) | 660 | 501 | 1,909 | 1,224 | |||||||||||||||||||
Less: Comprehensive income (loss) attributable to non-controlling interests | 12 | 7 | 34 | 27 | |||||||||||||||||||
Total comprehensive income (loss) attributable to stockholders | 648 | 494 | 1,875 | 1,197 |
For the three months ended | For the nine months ended | ||||||||||
September 29, 2019 | September 30, 2018 | September 29, 2019 | September 30, 2018 | ||||||||
Net income (loss) | 119 | 1,833 | 149 | 1,969 | |||||||
Other comprehensive income (loss), net of tax: | |||||||||||
Change in fair value cash flow hedges | (9 | ) | — | (4 | ) | (16 | ) | ||||
Change in foreign currency translation adjustment | (41 | ) | 8 | (47 | ) | (33 | ) | ||||
Change in net actuarial gain (loss) | (1 | ) | (2 | ) | (5 | ) | (5 | ) | |||
Change in unrealized gains/losses available-for-sale securities | — | — | — | 3 | |||||||
Total other comprehensive income (loss) | (51 | ) | 6 | (56 | ) | (51 | ) | ||||
Total comprehensive income (loss) | 68 | 1,839 | 93 | 1,918 | |||||||
Less: Comprehensive income (loss) attributable to non-controlling interests | 10 | 13 | 20 | 37 | |||||||
Total comprehensive income (loss) attributable to stockholders | 58 | 1,826 | 73 | 1,881 |
October 2, 2022 | December 31, 2021 | |||||||||||||
ASSETS | ||||||||||||||
Current assets: | ||||||||||||||
Cash and cash equivalents | 3,759 | 2,830 | ||||||||||||
Accounts receivable, net | 1,012 | 923 | ||||||||||||
Inventories, net | 1,581 | 1,189 | ||||||||||||
Other current assets | 351 | 286 | ||||||||||||
Total current assets | 6,703 | 5,228 | ||||||||||||
Non-current assets: | ||||||||||||||
Other non-current assets | 1,940 | 1,346 | ||||||||||||
Property, plant and equipment, net of accumulated depreciation of $5,055 and $4,676 | 2,971 | 2,635 | ||||||||||||
Identified intangible assets, net of accumulated amortization of $2,729 and $3,021 | 1,417 | 1,694 | ||||||||||||
Goodwill | 9,909 | 9,961 | ||||||||||||
Total non-current assets | 16,237 | 15,636 | ||||||||||||
Total assets | 22,940 | 20,864 | ||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||
Current liabilities: | ||||||||||||||
Accounts payable | 1,534 | 1,252 | ||||||||||||
Restructuring liabilities-current | 8 | 25 | ||||||||||||
Other current liabilities | 1,677 | 1,175 | ||||||||||||
Total current liabilities | 3,219 | 2,452 | ||||||||||||
Non-current liabilities: | ||||||||||||||
Long-term debt | 11,162 | 10,572 | ||||||||||||
Restructuring liabilities | 12 | 12 | ||||||||||||
Deferred tax liabilities | 39 | 57 | ||||||||||||
Other non-current liabilities | 1,123 | 1,001 | ||||||||||||
Total non-current liabilities | 12,336 | 11,642 | ||||||||||||
Total liabilities | 15,555 | 14,094 | ||||||||||||
Equity: | ||||||||||||||
Non-controlling interests | 279 | 242 | ||||||||||||
Stockholders’ equity: | ||||||||||||||
Common stock, par value €0.20 per share: | 56 | 56 | ||||||||||||
Capital in excess of par value | 13,996 | 13,727 | ||||||||||||
Treasury shares, at cost: | ||||||||||||||
14,130,857 shares (2021: 9,569,359 shares) | (2,765) | (1,932) | ||||||||||||
Accumulated other comprehensive income (loss) | (142) | 48 | ||||||||||||
Accumulated deficit | (4,039) | (5,371) | ||||||||||||
Total stockholders’ equity | 7,106 | 6,528 | ||||||||||||
Total equity | 7,385 | 6,770 | ||||||||||||
Total liabilities and equity | 22,940 | 20,864 |
September 29, 2019 | December 31, 2018 | |||||
ASSETS | ||||||
Current assets: | ||||||
Cash and cash equivalents | 3,537 | 2,789 | ||||
Accounts receivable, net | 786 | 792 | ||||
Assets held for sale | 61 | — | ||||
Inventories, net | 1,134 | 1,279 | ||||
Other current assets | 426 | 365 | ||||
Total current assets | 5,944 | 5,225 | ||||
Non-current assets: | ||||||
Other non-current assets | 712 | 545 | ||||
Property, plant and equipment, net of accumulated depreciation of $3,632 and $3,299 | 2,401 | 2,436 | ||||
Identified intangible assets, net of accumulated amortization of $5,729 and $4,716 | 3,406 | 4,467 | ||||
Goodwill | 8,791 | 8,857 | ||||
Total non-current assets | 15,310 | 16,305 | ||||
Total assets | 21,254 | 21,530 | ||||
LIABILITIES AND EQUITY | ||||||
Current liabilities: | ||||||
Accounts payable | 862 | 999 | ||||
Restructuring liabilities-current | 41 | 60 | ||||
Other current liabilities | 1,081 | 1,219 | ||||
Short-term debt | 1,142 | 1,107 | ||||
Total current liabilities | 3,126 | 3,385 | ||||
Non-current liabilities: | ||||||
Long-term debt | 7,363 | 6,247 | ||||
Restructuring liabilities | — | 5 | ||||
Deferred tax liabilities | 285 | 450 | ||||
Other non-current liabilities | 885 | 753 | ||||
Total non-current liabilities | 8,533 | 7,455 | ||||
Total liabilities | 11,659 | 10,840 | ||||
Equity: | ||||||
Non-controlling interests | 205 | 185 | ||||
Stockholders’ equity: | ||||||
Common stock, par value €0.20 per share: | 67 | 67 | ||||
Capital in excess of par value | 15,722 | 15,460 | ||||
Treasury shares, at cost: | ||||||
49,224,336 shares (2018: 35,913,021 shares) | (4,429 | ) | (3,238 | ) | ||
Accumulated other comprehensive income (loss) | 67 | 123 | ||||
Accumulated deficit | (2,037 | ) | (1,907 | ) | ||
Total stockholders’ equity | 9,390 | 10,505 | ||||
Total equity | 9,595 | 10,690 | ||||
Total liabilities and equity | 21,254 | 21,530 |
For the nine months ended | |||||||||||
October 2, 2022 | October 3, 2021 | ||||||||||
Cash flows from operating activities: | |||||||||||
Net income (loss) | 2,099 | 1,296 | |||||||||
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: | |||||||||||
Depreciation and amortization | 948 | 952 | |||||||||
Share-based compensation | 267 | 265 | |||||||||
Amortization of discount (premium) on debt, net | 2 | 1 | |||||||||
Amortization of debt issuance costs | 5 | 5 | |||||||||
Net (gain) loss on sale of assets | (2) | — | |||||||||
(Gain) loss on equity security, net | 6 | (2) | |||||||||
(Gain) loss on extinguishment of debt | 18 | — | |||||||||
Results relating to equity-accounted investees | (5) | — | |||||||||
Deferred tax expense (benefit) | (196) | 6 | |||||||||
Changes in operating assets and liabilities: | |||||||||||
(Increase) decrease in receivables and other current assets | (165) | (214) | |||||||||
(Increase) decrease in inventories | (392) | (143) | |||||||||
Increase (decrease) in accounts payable and other liabilities | 545 | 242 | |||||||||
Decrease (increase) in other non-current assets | (325) | (106) | |||||||||
Exchange differences | (2) | (3) | |||||||||
Other items | 16 | (7) | |||||||||
Net cash provided by (used for) operating activities | 2,819 | 2,292 | |||||||||
Cash flows from investing activities: | |||||||||||
Purchase of identified intangible assets | (122) | (99) | |||||||||
Capital expenditures on property, plant and equipment | (830) | (501) | |||||||||
Purchase of equipment leased to others | (5) | (14) | |||||||||
Insurance recoveries received for equipment damage | — | 7 | |||||||||
Proceeds from disposals of property, plant and equipment | 2 | 1 | |||||||||
Purchase of interests in businesses, net of cash acquired | (27) | (17) | |||||||||
Purchase of investments | (9) | (6) | |||||||||
Proceeds from sale of investments | 12 | 8 | |||||||||
Proceeds from return of equity investment | 2 | 3 | |||||||||
Net cash provided by (used for) investing activities | (977) | (618) | |||||||||
Cash flows from financing activities: | |||||||||||
Repurchase of long-term debt | (917) | — | |||||||||
Proceeds from the issuance of long-term debt | 1,496 | 2,000 | |||||||||
Cash paid for debt issuance costs | (13) | (22) | |||||||||
Dividends paid to common stockholders | (594) | (412) | |||||||||
Proceeds from issuance of common stock through stock plans | 58 | 60 | |||||||||
Purchase of treasury shares and restricted stock unit withholdings | (920) | (3,265) | |||||||||
Other, net | (1) | (1) | |||||||||
Net cash provided by (used for) financing activities | (891) | (1,640) | |||||||||
Effect of changes in exchange rates on cash positions | (22) | (6) | |||||||||
Increase (decrease) in cash and cash equivalents | 929 | 28 | |||||||||
Cash and cash equivalents at beginning of period | 2,830 | 2,275 | |||||||||
Cash and cash equivalents at end of period | 3,759 | 2,303 |
Supplemental disclosures to the condensed consolidated cash flows | |||||||||||
Net cash paid during the period for: | |||||||||||
Interest | 217 | 216 | |||||||||
Income taxes, net of refunds | 432 | 250 | |||||||||
Net gain (loss) on sale of assets: | |||||||||||
Cash proceeds from the sale of assets | 2 | — | |||||||||
Book value of these assets | — | — | |||||||||
Non-cash investing activities: | |||||||||||
Non-cash capital expenditures | 176 | 224 |
For the nine months ended | |||||
September 29, 2019 | September 30, 2018 | ||||
Cash flows from operating activities: | |||||
Net income (loss) | 149 | 1,969 | |||
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: | |||||
Depreciation and amortization | 1,525 | 1,484 | |||
Share-based compensation | 257 | 221 | |||
Amortization of discount on debt | 34 | 31 | |||
Amortization of debt issuance costs | 8 | 7 | |||
Net (gain) loss on sale of assets | (20 | ) | — | ||
(Gain) loss on extinguishment of debt | 11 | 26 | |||
Results relating to equity-accounted investees | (2 | ) | (53 | ) | |
Deferred tax expense (benefit) | (126 | ) | (159 | ) | |
Changes in operating assets and liabilities: | |||||
(Increase) decrease in receivables and other current assets | (28 | ) | 136 | ||
(Increase) decrease in inventories | 135 | (70 | ) | ||
Increase (decrease) in accounts payable and other liabilities | (425 | ) | 59 | ||
Decrease (increase) in other non-current assets | 36 | (26 | ) | ||
Exchange differences | 6 | 1 | |||
Other items | (1 | ) | 12 | ||
Net cash provided by (used for) operating activities | 1,559 | 3,638 | |||
Cash flows from investing activities: | |||||
Purchase of identified intangible assets | (72 | ) | (46 | ) | |
Capital expenditures on property, plant and equipment | (388 | ) | (441 | ) | |
Proceeds from disposals of property, plant and equipment | 23 | 1 | |||
Purchase of interests in businesses, net of cash acquired | — | (18 | ) | ||
Proceeds from sale of interests in businesses | 37 | 159 | |||
Proceeds from return of equity investment | — | 4 | |||
Purchase of available-for-sale securities | (19 | ) | (7 | ) | |
Proceeds from the sale of securities | 1 | — | |||
Net cash provided by (used for) investing activities | (418 | ) | (348 | ) | |
Cash flows from financing activities: | |||||
Proceeds from Bridge Loan | — | 1,000 | |||
Repurchase of long-term debt | (600 | ) | (1,273 | ) | |
Principal payments on long-term debt | — | (1 | ) | ||
Proceeds from the issuance of long-term debt | 1,750 | — | |||
Cash paid for debt issuance costs | (24 | ) | (11 | ) | |
Cash paid for Notes hedge derivatives | (1 | ) | — | ||
Dividends paid to non-controlling interests | — | (54 | ) | ||
Dividends paid to common stockholders | (214 | ) | — | ||
Proceeds from issuance of common stock through stock plans | 70 | 36 | |||
Purchase of treasury shares and restricted stock unit withholdings | (1,369 | ) | (4,582 | ) | |
Net cash provided by (used for) financing activities | (388 | ) | (4,885 | ) | |
Effect of changes in exchange rates on cash positions | (5 | ) | (8 | ) | |
Increase (decrease) in cash and cash equivalents | 748 | (1,603 | ) | ||
Cash and cash equivalents at beginning of period | 2,789 | 3,547 | |||
Cash and cash equivalents at end of period | 3,537 | 1,944 |
For the nine months ended | |||||
September 29, 2019 | September 30, 2018 | ||||
Supplemental disclosures to the condensed consolidated cash flows | |||||
Net cash paid during the period for: | |||||
Interest | 147 | 103 | |||
Income taxes | 334 | 127 | |||
Non-cash adjustment related to the adoption of ASC 606: | |||||
Receivables and other current assets | — | (36 | ) | ||
Inventories | — | 22 |
Outstanding number of shares (in thousands) | Common stock | Capital in excess of par value | Treasury shares at cost | Accumulated other comprehensive income (loss) | Accumulated deficit | Total stock- holders’ equity | Non- controlling interests | Total equity | |||||||||||||||||||
Balance as of December 31, 2018 | 292,790 | 67 | 15,460 | (3,238 | ) | 123 | (1,907 | ) | 10,505 | 185 | 10,690 | ||||||||||||||||
Net income (loss) | (21 | ) | (21 | ) | 5 | (16 | ) | ||||||||||||||||||||
Other comprehensive income | (14 | ) | (14 | ) | (14 | ) | |||||||||||||||||||||
Share-based compensation plans | 87 | 87 | 87 | ||||||||||||||||||||||||
Shares issued pursuant to stock awards | 867 | 83 | (51 | ) | 32 | 32 | |||||||||||||||||||||
Treasury shares and restricted stock unit withholdings | (8,482 | ) | (715 | ) | (715 | ) | (715 | ) | |||||||||||||||||||
Shareholder tax on repurchased shares | (62 | ) | (62 | ) | (62 | ) | |||||||||||||||||||||
Dividends common stock ($0.25 per share) | (71 | ) | (71 | ) | (71 | ) | |||||||||||||||||||||
Balance as of March 31, 2019 | 285,175 | 67 | 15,547 | (3,870 | ) | 109 | (2,112 | ) | 9,741 | 190 | 9,931 | ||||||||||||||||
Net income (loss) | 41 | 41 | 5 | 46 | |||||||||||||||||||||||
Other comprehensive income | 9 | 9 | 9 | ||||||||||||||||||||||||
Share-based compensation plans | 88 | 88 | 88 | ||||||||||||||||||||||||
Shares issued pursuant to stock awards | 194 | 18 | (12 | ) | 6 | 6 | |||||||||||||||||||||
Treasury shares and restricted stock unit withholdings | (6,616 | ) | (645 | ) | (645 | ) | (645 | ) | |||||||||||||||||||
Shareholder tax on repurchased shares | 155 | 155 | 155 | ||||||||||||||||||||||||
Dividends common stock ($0.25 per share) | (70 | ) | (70 | ) | (70 | ) | |||||||||||||||||||||
Balance as of June 30, 2019 | 278,753 | 67 | 15,635 | (4,497 | ) | 118 | (1,998 | ) | 9,325 | 195 | 9,520 | ||||||||||||||||
Net income (loss) | 109 | 109 | 10 | 119 | |||||||||||||||||||||||
Other comprehensive income | (51 | ) | (51 | ) | (51 | ) | |||||||||||||||||||||
Share-based compensation plans | 87 | 87 | 87 | ||||||||||||||||||||||||
Shares issued pursuant to stock awards | 815 | 77 | (45 | ) | 32 | 32 | |||||||||||||||||||||
Treasury shares and restricted stock unit withholdings | (89 | ) | (9 | ) | (9 | ) | (9 | ) | |||||||||||||||||||
Shareholder tax on repurchased shares | 2 | 2 | 2 | ||||||||||||||||||||||||
Dividends common stock ($0.375 per share) | (105 | ) | (105 | ) | (105 | ) | |||||||||||||||||||||
Balance as of September 29, 2019 | 279,479 | 67 | 15,722 | (4,429 | ) | 67 | (2,037 | ) | 9,390 | 205 | 9,595 |
Outstanding number of shares (in thousands) | Common stock | Capital in excess of par value | Treasury shares at cost | Accumulated other comprehensive income (loss) | Accumulated deficit | Total stock- holders’ equity | Non- controlling interests | Total equity | |||||||||||||||||||
Balance as of December 31, 2017 | 342,924 | 71 | 15,960 | (342 | ) | 177 | (2,339 | ) | 13,527 | 189 | 13,716 | ||||||||||||||||
Net income (loss) | 58 | 58 | 12 | 70 | |||||||||||||||||||||||
Other comprehensive income | 32 | 32 | 32 | ||||||||||||||||||||||||
Share-based compensation plans | 68 | 68 | 68 | ||||||||||||||||||||||||
Shares issued pursuant to stock awards | 1,320 | 139 | (119 | ) | 20 | 20 | |||||||||||||||||||||
Treasury shares and restricted stock unit withholdings | (251 | ) | (30 | ) | (30 | ) | (30 | ) | |||||||||||||||||||
Cumulative effect adjustments | 3 | 11 | 14 | 14 | |||||||||||||||||||||||
Balance as of April 1, 2018 | 343,993 | 71 | 16,028 | (233 | ) | 212 | (2,389 | ) | 13,689 | 201 | 13,890 | ||||||||||||||||
Net income (loss) | 54 | 54 | 12 | 66 | |||||||||||||||||||||||
Other comprehensive income | (92 | ) | (92 | ) | (92 | ) | |||||||||||||||||||||
Share-based compensation plans | 71 | 71 | 71 | ||||||||||||||||||||||||
Shares issued pursuant to stock awards | 369 | 43 | (33 | ) | 10 | 10 | |||||||||||||||||||||
Treasury shares and restricted stock unit withholdings | (25 | ) | (2 | ) | (2 | ) | (2 | ) | |||||||||||||||||||
Dividends non-controlling interests | (54 | ) | (54 | ) | |||||||||||||||||||||||
Balance as of July 1, 2018 | 344,337 | 71 | 16,099 | (192 | ) | 120 | (2,368 | ) | 13,730 | 159 | 13,889 | ||||||||||||||||
Net income (loss) | 1,820 | 1,820 | 13 | 1,833 | |||||||||||||||||||||||
Other comprehensive income | 6 | 6 | 6 | ||||||||||||||||||||||||
Share-based compensation plans | 82 | 82 | 82 | ||||||||||||||||||||||||
Shares issued pursuant to stock awards | 209 | 24 | (18 | ) | 6 | 6 | |||||||||||||||||||||
Treasury shares and restricted stock unit withholdings | (49,044 | ) | (4,581 | ) | (4,581 | ) | (4,581 | ) | |||||||||||||||||||
Tax on repurchased shares | (353 | ) | (353 | ) | (353 | ) | |||||||||||||||||||||
Dividends common stock ($0.25 per share) | (74 | ) | (74 | ) | (74 | ) | |||||||||||||||||||||
Cumulative effect adjustments | (3 | ) | (3 | ) | (3 | ) | |||||||||||||||||||||
Balance as of September 30, 2018 | 295,502 | 71 | 16,181 | (4,749 | ) | 126 | (996 | ) | 10,633 | 172 | 10,805 |
Outstanding number of shares (in thousands) | Common stock | Capital in excess of par value | Treasury shares at cost | Accumulated other comprehensive income (loss) | Accumulated deficit | Total stock- holders’ equity | Non- controlling interests | Total equity | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2021 | 264,950 | 56 | 13,727 | (1,932) | 48 | (5,371) | 6,528 | 242 | 6,770 | |||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | 657 | 657 | 9 | 666 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income | (22) | (22) | (22) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation plans | 92 | 92 | 92 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to stock awards | 256 | 51 | (23) | 28 | 28 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Treasury shares repurchased and retired | (2,653) | (552) | (552) | (552) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends common stock ($0.845 per share) | (222) | (222) | (222) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of April 3, 2022 | 262,553 | 56 | 13,819 | (2,433) | 26 | (4,959) | 6,509 | 251 | 6,760 | |||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | 670 | 670 | 13 | 683 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income | (78) | (78) | (78) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation plans | 85 | 85 | 85 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to stock awards | 57 | 11 | (11) | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Treasury shares repurchased and retired | (15) | (2) | (2) | (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends common stock ($0.845 per share) | (222) | (222) | (222) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of July 3, 2022 | 262,595 | 56 | 13,904 | (2,424) | (52) | (4,522) | 6,962 | 264 | 7,226 | |||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | 738 | 738 | 12 | 750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income | (90) | (90) | (90) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation plans | 92 | 92 | 92 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to stock awards | 295 | 60 | (30) | 30 | 30 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Treasury shares and restricted stock unit withholdings | (2,501) | (401) | (401) | (401) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in participation | (3) | (3) | 3 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends common stock ($0.845 per share) | (222) | (222) | (222) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of October 2, 2022 | 260,389 | 56 | 13,996 | (2,765) | (142) | (4,039) | 7,106 | 279 | 7,385 |
Outstanding number of shares (in thousands) | Common stock | Capital in excess of par value | Treasury shares at cost | Accumulated other comprehensive income (loss) | Accumulated deficit | Total stock- holders’ equity | Non- controlling interests | Total equity | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2020 | 280,475 | 59 | 14,133 | (1,037) | 117 | (4,328) | 8,944 | 207 | 9,151 | |||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | 353 | 353 | 11 | 364 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income | (56) | (56) | (56) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation plans | 91 | 91 | 91 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to stock awards | 361 | 37 | (6) | 31 | 31 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Treasury shares repurchased and retired | (5,087) | (905) | (905) | (905) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends common stock ($0.5625 per share) | (155) | (155) | (155) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of April 4, 2021 | 275,749 | 59 | 14,224 | (1,905) | 61 | (4,136) | 8,303 | 218 | 8,521 | |||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | 397 | 397 | 9 | 406 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income | 9 | 9 | 9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation plans | 88 | 88 | 88 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to stock awards | 64 | 6 | (6) | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Treasury shares repurchased and retired | (6,103) | (1,203) | (1,203) | (1,203) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends common stock ($0.5625 per share) | (152) | (152) | (152) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of July 4, 2021 | 269,710 | 59 | 14,312 | (3,102) | 70 | (3,897) | 7,442 | 227 | 7,669 | |||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | 519 | 519 | 7 | 526 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income | (25) | (25) | (25) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation plans | 80 | 80 | 80 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to stock awards | 2,430 | 231 | (202) | 29 | 29 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Treasury shares and restricted stock unit withholdings | (5,800) | (1,157) | (1,157) | (1,157) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends common stock ($0.5625 per share) | (150) | (150) | (150) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of October 3, 2021 | 266,340 | 59 | 14,392 | (4,028) | 45 | (3,730) | 6,738 | 234 | 6,972 |
For the three months ended | For the nine months ended | ||||||||||||||||||||||||||||||||||
October 2, 2022 | October 3, 2021 | October 2, 2022 | October 3, 2021 | ||||||||||||||||||||||||||||||||
Distributors | 1,876 | 1,631 | 5,385 | 4,617 | |||||||||||||||||||||||||||||||
Original Equipment Manufacturers and Electronic Manufacturing Services | 1,525 | 1,191 | 4,378 | 3,295 | |||||||||||||||||||||||||||||||
Other | 44 | 39 | 130 | 112 | |||||||||||||||||||||||||||||||
Total | 3,445 | 2,861 | 9,893 | 8,024 |
For the three months ended | For the nine months ended | ||||||||||
September 29, 2019 | September 30, 2018 | September 29, 2019 | September 30, 2018 | ||||||||
Distributors | 1,145 | 1,270 | 3,190 | 3,595 | |||||||
Original Equipment Manufacturers and Electronic Manufacturing Services | 1,082 | 1,081 | 3,308 | 3,115 | |||||||
Other 1) | 38 | 94 | 78 | 294 | |||||||
Total | 2,265 | 2,445 | 6,576 | 7,004 | |||||||
1) Represents revenue for other services as of January 1, 2019 and represents revenue classified in Corporate and Other for prior periods. |
For the three months ended | For the nine months ended | ||||||||||
September 29, 2019 | September 30, 2018 | September 29, 2019 | September 30, 2018 | ||||||||
Depreciation of property, plant and equipment | 135 | 119 | 387 | 354 | |||||||
Amortization of internal use software | 2 | 2 | 6 | 6 | |||||||
Amortization of other identified intangible assets | 380 | 376 | 1,132 | 1,124 | |||||||
Total | 517 | 497 | 1,525 | 1,484 |
For the three months ended | For the nine months ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 2, 2022 | October 3, 2021 | October 2, 2022 | October 3, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Depreciation of property, plant and equipment | 156 | 139 | 447 | 406 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of internal use software | 3 | 1 | 9 | 5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of other identified intangible assets 1) | 162 | 166 | 492 | 541 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total - Depreciation, amortization and impairment | 321 | 306 | 948 | 952 |
For the three months ended | For the nine months ended | ||||
September 29, 2019 | September 29, 2019 | ||||
Income from MSA and TSA arrangements | 9 | 58 | |||
Expenses from MSA and TSA arrangements | (10 | ) | (57 | ) | |
Result from MSA and TSA arrangements | (1 | ) | 1 | ||
Other, net | 23 | 22 | |||
Total | 22 | 23 |
For the three months ended | For the nine months ended | ||||||||||
September 29, 2019 | September 30, 2018 | September 29, 2019 | September 30, 2018 | ||||||||
Interest income | 17 | 13 | 42 | 38 | |||||||
Interest expense | (98 | ) | (61 | ) | (274 | ) | (197 | ) | |||
Total interest expense, net | (81 | ) | (48 | ) | (232 | ) | (159 | ) | |||
Foreign exchange rate results | 1 | (1 | ) | (6 | ) | (1 | ) | ||||
Extinguishment of debt | (1 | ) | — | (11 | ) | (26 | ) | ||||
Miscellaneous financing costs/income and other, net | (4 | ) | (70 | ) | (8 | ) | (72 | ) | |||
Total other financial income (expense) | (4 | ) | (71 | ) | (25 | ) | (99 | ) | |||
Total | (85 | ) | (119 | ) | (257 | ) | (258 | ) |
For the three months ended | For the nine months ended | ||||||||||||||||||||||||||||||||||
October 2, 2022 | October 3, 2021 | October 2, 2022 | October 3, 2021 | ||||||||||||||||||||||||||||||||
Interest income | 21 | 1 | 29 | 3 | |||||||||||||||||||||||||||||||
Interest expense | (109) | (96) | (319) | (273) | |||||||||||||||||||||||||||||||
Total interest expense, net | (88) | (95) | (290) | (270) | |||||||||||||||||||||||||||||||
Extinguishment of debt | — | — | (18) | — | |||||||||||||||||||||||||||||||
Foreign exchange rate results | (1) | 3 | 2 | 3 | |||||||||||||||||||||||||||||||
Miscellaneous financing costs/income and other, net | (9) | (1) | (25) | (13) | |||||||||||||||||||||||||||||||
Total other financial income/ (expense) | (10) | 2 | (41) | (10) | |||||||||||||||||||||||||||||||
Total - Financial income and expenses | (98) | (93) | (331) | (280) |
For the three months ended | For the nine months ended | ||||||||||
September 29, 2019 | September 30, 2018 | September 29, 2019 | September 30, 2018 | ||||||||
Net income (loss) | 119 | 1,833 | 149 | 1,969 | |||||||
Less: net income (loss) attributable to non-controlling interests | 10 | 13 | 20 | 37 | |||||||
Net income (loss) attributable to stockholders | 109 | 1,820 | 129 | 1,932 | |||||||
Weighted average number of shares outstanding (after deduction of treasury shares) during the year (in thousands) | 279,074 | 322,533 | 282,496 | 336,771 | |||||||
Plus incremental shares from assumed conversion of: | |||||||||||
Options 1) | 772 | 1,001 | 775 | 1,290 | |||||||
Restricted Share Units, Performance Share Units and Equity Rights 2) | 3,672 | 1,733 | 2,548 | 1,730 | |||||||
Warrants 3) | — | — | — | — | |||||||
Dilutive potential common shares | 4,444 | 2,734 | 3,323 | 3,020 | |||||||
Adjusted weighted average number of shares outstanding (after deduction of treasury shares) during the year (in thousands) | 283,518 | 325,267 | 285,819 | 339,791 | |||||||
EPS attributable to stockholders in $: | |||||||||||
Basic net income (loss) | 0.39 | 5.64 | 0.46 | 5.74 | |||||||
Diluted net income (loss) | 0.38 | 5.60 | 0.45 | 5.69 |
For the three months ended | For the nine months ended | ||||||||||||||||||||||||||||||||||
October 2, 2022 | October 3, 2021 | October 2, 2022 | October 3, 2021 | ||||||||||||||||||||||||||||||||
Net income (loss) | 750 | 526 | 2,099 | 1,296 | |||||||||||||||||||||||||||||||
Less: net income (loss) attributable to non-controlling interests | 12 | 7 | 34 | 27 | |||||||||||||||||||||||||||||||
Net income (loss) attributable to stockholders | 738 | 519 | 2,065 | 1,269 | |||||||||||||||||||||||||||||||
Weighted average number of shares outstanding (after deduction of treasury shares) during the year (in thousands) | 262,180 | 266,557 | 262,620 | 272,314 | |||||||||||||||||||||||||||||||
Plus incremental shares from assumed conversion of: | |||||||||||||||||||||||||||||||||||
Options 1) | 275 | 378 | 297 | 397 | |||||||||||||||||||||||||||||||
Restricted Share Units, Performance Share Units and Equity Rights 2) | 2,250 | 4,424 | 1,921 | 5,175 | |||||||||||||||||||||||||||||||
Dilutive potential common shares | 2,525 | 4,802 | 2,218 | 5,572 | |||||||||||||||||||||||||||||||
Adjusted weighted average number of shares outstanding (after deduction of treasury shares) during the year (in thousands) | 264,705 | 271,359 | 264,838 | 277,886 | |||||||||||||||||||||||||||||||
EPS attributable to stockholders in $: | |||||||||||||||||||||||||||||||||||
Basic net income (loss) | 2.81 | 1.95 | 7.86 | 4.66 | |||||||||||||||||||||||||||||||
Diluted net income (loss) | 2.79 | 1.91 | 7.80 | 4.57 |
September 29, 2019 | December 31, 2018 | ||||
Raw materials | 64 | 74 | |||
Work in process | 858 | 949 | |||
Finished goods | 212 | 256 | |||
1,134 | 1,279 |
October 2, 2022 | December 31, 2021 | ||||||||||
Raw materials | 140 | 107 | |||||||||
Work in process | 1,133 | 846 | |||||||||
Finished goods | 308 | 236 | |||||||||
1,581 | 1,189 |
October 2, 2022 | December 31, 2021 | ||||||||||
Marketable equity securities | 7 | 18 | |||||||||
Non-marketable equity securities | 14 | 19 | |||||||||
Equity-accounted investments | 81 | 75 | |||||||||
102 | 112 |
October 2, 2022 | December 31, 2021 | ||||||||||||||||||||||
Shareholding % | Amount | Shareholding % | Amount | ||||||||||||||||||||
SMART Growth Fund, L.P.1) | 8.41 | % | 44 | 8.41 | % | 31 | |||||||||||||||||
Others | — | 37 | — | 44 | |||||||||||||||||||
81 | 75 | ||||||||||||||||||||||
1) Previously named “Wise Road Industry Investment Fund I, L.P.” |
For the three months ended | For the nine months ended | ||||||||||||||||||||||
October 2, 2022 | October 3, 2021 | October 2, 2022 | October 3, 2021 | ||||||||||||||||||||
Company's share in income (loss) | (5) | 4 | 3 | 1 | |||||||||||||||||||
Other results | 1 | (1) | 2 | (1) | |||||||||||||||||||
(4) | 3 | 5 | — |
October 2, 2022 | December 31, 2021 | ||||||||||
Accrued compensation and benefits | 508 | 476 | |||||||||
Income taxes payable | 232 | 82 | |||||||||
Dividend payable | 221 | 149 | |||||||||
Other | 716 | 468 | |||||||||
1,677 | 1,175 |
Currency translation differences | Change in fair value cash flow hedges | Net actuarial gain/(losses) | Accumulated Other Comprehensive Income (loss) | ||||||||||||||||||||
As of December 31, 2021 | 207 | — | (159) | 48 | |||||||||||||||||||
Other comprehensive income (loss) before reclassifications | (165) | (53) | — | (218) | |||||||||||||||||||
Amounts reclassified out of accumulated other comprehensive income (loss) | — | 19 | — | 19 | |||||||||||||||||||
Tax effects | — | 9 | — | 9 | |||||||||||||||||||
Other comprehensive income (loss) | (165) | (25) | — | (190) | |||||||||||||||||||
As of October 2, 2022 | 42 | (25) | (159) | (142) |
Currency translation differences | Change in fair value cash flow hedges | Net actuarial gain/(losses) | Accumulated Other Comprehensive Income (loss) | ||||||||
As of December 31, 2018 | 218 | (3 | ) | (92 | ) | 123 | |||||
Other comprehensive income (loss) before reclassifications | (47 | ) | (14 | ) | (6 | ) | (67 | ) | |||
Amounts reclassified out of accumulated other comprehensive income (loss) | — | 9 | — | 9 | |||||||
Tax effects | — | 1 | 1 | 2 | |||||||
Other comprehensive income (loss) | (47 | ) | (4 | ) | (5 | ) | (56 | ) | |||
As of September 29, 2019 | 171 | (7 | ) | (97 | ) | 67 |
Fiscal year 2019 | Fiscal year 2018 | ||||||
Dividend per share | Amount | Dividend per share | Amount | ||||
First quarter | 0.250 | 71 | |||||
Second quarter | 0.250 | 70 | |||||
Third quarter | 0.375 | 105 | 0.250 | 74 | |||
0.875 | 246 | 0.250 | 74 |
Fiscal year 2022 | Fiscal year 2021 | ||||||||||||||||||||||
Dividend per share | Amount | Dividend per share | Amount | ||||||||||||||||||||
First quarter | 0.845 | 222 | 0.5625 | 155 | |||||||||||||||||||
Second quarter | 0.845 | 222 | 0.5625 | 152 | |||||||||||||||||||
Third quarter | 0.845 | 221 | 0.5625 | 150 | |||||||||||||||||||
As of January 1, 2022 | Additions | Utilized | Released | Other changes | As of October 2, 2022 | ||||||||||||||||||||||||||||||
Restructuring liabilities | 37 | 1 | (9) | (6) | (3) | 20 |
Balance January 1, 2019 | Additions | Utilized | Released | Other changes | Balance September 29, 2019 | ||||||||||||
Restructuring liabilities | 65 | 30 | (48 | ) | (4 | ) | (2 | ) | 41 |
For the three months ended | For the nine months ended | ||||||||||
September 29, 2019 | September 30, 2018 | September 29, 2019 | September 30, 2018 | ||||||||
Personnel lay-off costs | (1 | ) | 4 | 29 | 4 | ||||||
Other exit costs | — | 1 | — | 1 | |||||||
Net restructuring charges | (1 | ) | 5 | 29 | 5 |
For the three months ended | For the nine months ended | ||||||||||||||||||||||
October 2, 2022 | October 3, 2021 | October 2, 2022 | October 3, 2021 | ||||||||||||||||||||
Cost of revenue | — | — | (3) | — | |||||||||||||||||||
Research and development | — | — | (2) | 1 | |||||||||||||||||||
Selling, general and administrative | — | — | — | — | |||||||||||||||||||
Net restructuring charges | — | — | (5) | 1 |
For the three months ended | For the nine months ended | ||||||||||
September 29, 2019 | September 30, 2018 | September 29, 2019 | September 30, 2018 | ||||||||
Cost of revenue | (1 | ) | — | 3 | — | ||||||
Selling, general and administrative | — | 5 | 10 | 6 | |||||||
Research and development | — | — | 16 | — | |||||||
Other income (expense) | — | — | — | (1 | ) | ||||||
Net restructuring charges | (1 | ) | 5 | 29 | 5 |
For the three months ended | For the nine months ended | ||||||||||||||||||||||||||||||||||
October 2, 2022 | October 3, 2021 | October 2, 2022 | October 3, 2021 | ||||||||||||||||||||||||||||||||
Tax expense (benefit) | 149 | 95 | 392 | 200 | |||||||||||||||||||||||||||||||
Effective tax rate | 16.5 | % | 15.4 | % | 15.8 | % | 13.4 | % |
For the three months ended | For the nine months ended | ||||||||||
September 29, 2019 | September 30, 2018 | September 29, 2019 | September 30, 2018 | ||||||||
Tax expense (benefit) | 28 | 311 | 40 | 317 | |||||||
Effective tax rate | 18.9 | % | 14.9 | % | 21.4 | % | 14.2 | % |
October 2, 2022 | December 31, 2021 | ||||||||||||||||||||||
Gross carrying amount | Accumulated amortization | Gross carrying amount | Accumulated amortization | ||||||||||||||||||||
In-process R&D (IPR&D) 1) | 72 | — | 96 | — | |||||||||||||||||||
Marketing-related | — | — | 81 | (81) | |||||||||||||||||||
Customer-related | 822 | (330) | 852 | (325) | |||||||||||||||||||
Technology-based | 3,252 | (2,399) | 3,686 | (2,615) | |||||||||||||||||||
Identified intangible assets | 4,146 | (2,729) | 4,715 | (3,021) | |||||||||||||||||||
1) IPR&D is not subject to amortization until completion or abandonment of the associated research and development effort. |
September 29, 2019 | December 31, 2018 | ||||||||||
Gross carrying amount | Accumulated amortization | Gross carrying amount | Accumulated amortization | ||||||||
In-process R&D (IPR&D) 1) | 171 | — | 276 | — | |||||||
Marketing-related | 82 | (62 | ) | 81 | (50 | ) | |||||
Customer-related | 945 | (326 | ) | 964 | (301 | ) | |||||
Technology-based | 7,937 | (5,341 | ) | 7,862 | (4,365 | ) | |||||
Identified intangible assets | 9,135 | (5,729 | ) | 9,183 | (4,716 | ) | |||||
1) IPR&D is not subject to amortization until completion or abandonment of the associated research and development effort. |
2019 (remaining) | 380 (remaining) |
2020 | 1,310 |
2021 | 554 |
2022 | 437 |
2023 | 230 |
Thereafter | 495 |
2022 (remaining) | 143 | ||||
2023 | 437 | ||||
2024 | 263 | ||||
2025 | 147 | ||||
2026 | 80 | ||||
Thereafter | 347 |
October 2, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||
Maturities | Amount | Interest rate | Amount | Interest rate | |||||||||||||||||||||||||
Fixed-rate 4.625% senior unsecured notes | Jun, 2023 | — | 4.625 | 900 | 4.625 | ||||||||||||||||||||||||
Fixed-rate 4.875% senior unsecured notes | Mar, 2024 | 1,000 | 4.875 | 1,000 | 4.875 | ||||||||||||||||||||||||
Fixed-rate 2.7% senior unsecured notes | May, 2025 | 500 | 2.700 | 500 | 2.700 | ||||||||||||||||||||||||
Fixed-rate 5.35% senior unsecured notes | Mar, 2026 | 500 | 5.350 | 500 | 5.350 | ||||||||||||||||||||||||
Fixed-rate 3.875% senior unsecured notes | Jun, 2026 | 750 | 3.875 | 750 | 3.875 | ||||||||||||||||||||||||
Fixed-rate 3.15% senior unsecured notes | May, 2027 | 500 | 3.150 | 500 | 3.150 | ||||||||||||||||||||||||
Fixed-rate 4.40% senior unsecured notes | June, 2027 | 500 | 4.400 | — | — | ||||||||||||||||||||||||
Fixed-rate 5.55% senior unsecured notes | Dec, 2028 | 500 | 5.550 | 500 | 5.550 | ||||||||||||||||||||||||
Fixed-rate 4.3% senior unsecured notes | Jun, 2029 | 1,000 | 4.300 | 1,000 | 4.300 | ||||||||||||||||||||||||
Fixed-rate 3.4% senior unsecured notes | May, 2030 | 1,000 | 3.400 | 1,000 | 3.400 | ||||||||||||||||||||||||
Fixed-rate 2.5% senior unsecured notes | May, 2031 | 1,000 | 2.500 | 1,000 | 2.500 | ||||||||||||||||||||||||
Fixed-rate 2.65% senior unsecured notes | Feb, 2032 | 1,000 | 2.650 | 1,000 | 2.650 | ||||||||||||||||||||||||
Fixed-rate 5.00% senior unsecured notes | Jan, 2033 | 1,000 | 5.000 | — | — | ||||||||||||||||||||||||
Fixed-rate 3.25% senior unsecured notes | May, 2041 | 1,000 | 3.250 | 1,000 | 3.250 | ||||||||||||||||||||||||
Fixed-rate 3.125% senior unsecured notes | Feb, 2042 | 500 | 3.125 | 500 | 3.125 | ||||||||||||||||||||||||
Fixed-rate 3.25% senior unsecured notes | Nov, 2051 | 500 | 3.250 | 500 | 3.250 | ||||||||||||||||||||||||
Floating-rate revolving credit facility (RCF) | Aug, 2027 | — | — | — | — | ||||||||||||||||||||||||
Total principal | 11,250 | 10,650 | |||||||||||||||||||||||||||
Unamortized discounts, premiums and debt issuance costs | (88) | (78) | |||||||||||||||||||||||||||
Total debt, including unamortized discounts, premiums, debt issuance costs and fair value adjustments | 11,162 | 10,572 | |||||||||||||||||||||||||||
Current portion of long-term debt | — | — | |||||||||||||||||||||||||||
Long-term debt | 11,162 | 10,572 |
September 29, 2019 | December 31, 2018 | ||||||||||
Maturities | Amount | Effective rate | Amount | Effective rate | |||||||
Fixed-rate 4.125% senior unsecured notes | Jun, 2020 | — | — | 600 | 4.125 | ||||||
Fixed-rate 4.125% senior unsecured notes | Jun, 2021 | 1,350 | 4.125 | 1,350 | 4.125 | ||||||
Fixed-rate 4.625% senior unsecured notes | Jun, 2022 | 400 | 4.625 | 400 | 4.625 | ||||||
Fixed-rate 3.875% senior unsecured notes | Sep, 2022 | 1,000 | 3.875 | 1,000 | 3.875 | ||||||
Fixed-rate 4.625% senior unsecured notes | Jun, 2023 | 900 | 4.625 | 900 | 4.625 | ||||||
Fixed-rate 4.875% senior unsecured notes | Mar, 2024 | 1,000 | 4.875 | 1,000 | 4.875 | ||||||
Fixed-rate 5.35% senior unsecured notes | Mar, 2026 | 500 | 5.350 | 500 | 5.350 | ||||||
Fixed-rate 3.875% senior unsecured notes | Jun, 2026 | 750 | 3.875 | — | — | ||||||
Fixed-rate 5.55% senior unsecured notes | Dec, 2028 | 500 | 5.550 | 500 | 5.550 | ||||||
Fixed-rate 4.3% senior unsecured notes | Jun, 2029 | 1,000 | 4.300 | — | — | ||||||
Fixed-rate 1% cash convertible notes | Dec, 2019 | 1,150 | 1.000 | 1,150 | 1.000 | ||||||
Floating-rate revolving credit facility (RCF) | Jun, 2024 | — | — | — | — | ||||||
Total principal | 8,550 | 7,400 | |||||||||
Liabilities arising from capital lease transactions | — | 27 | |||||||||
Unamortized discounts, premiums and debt issuance costs | (37 | ) | (31 | ) | |||||||
Fair value of embedded cash conversion option | (8 | ) | (42 | ) | |||||||
Total debt, including unamortized discounts, premiums, debt issuance costs and fair value adjustments | 8,505 | 7,354 | |||||||||
Current portion of long-term debt | (1,142 | ) | (1,107 | ) | |||||||
Long-term debt | 7,363 | 6,247 |
For the three months ended | For the nine months ended | ||||
September 29, 2019 | September 29, 2019 | ||||
Operating lease cost | 15 | 41 | |||
Finance lease cost: | |||||
Amortization of right-of-use assets | — | 1 | |||
Interest on lease liabilities | — | 1 | |||
Total finance lease cost | — | 2 |
For the three months ended | For the nine months ended | ||||
September 29, 2019 | �� | September 29, 2019 | |||
Supplemental cash flows information: | |||||
Operating cash flows from operating leases | 15 | 41 | |||
Operating cash flows from finance leases | (1 | ) | 1 | ||
Financing cash flows from finance leases | 2 | 2 | |||
Right-of-use assets obtained in exchange for lease obligations: | |||||
Operating leases 1) | 62 | 260 | |||
Finance leases | — | — | |||
1) $188 million recorded on January 1, 2019 in accordance with the adoption of ASC 842. | |||||
Weighted average remaining lease term: | |||||
Operating leases | 6.0 years | ||||
Finance leases | 12.7 years | ||||
Weighted average discount rate: | |||||
Operating leases | 3.1 | % | |||
Finance leases | 4.5 | % |
As of | |||||
September 29, 2019 | |||||
Operating leases | Finance leases | ||||
2019 (remaining) | 16 | 1 | |||
2020 | 57 | 3 | |||
2021 | 46 | 3 | |||
2022 | 32 | 3 | |||
2023 | 27 | 3 | |||
Thereafter | 67 | 22 | |||
Total future minimum lease payments | 245 | 35 | |||
Less: imputed interest | (22 | ) | (9 | ) | |
Total | 223 | 26 |
As of | |||||
September 29, 2019 | |||||
Operating leases | Finance leases | ||||
Other current liabilities | 55 | 2 | |||
Other non-current liabilities | 168 | 24 | |||
Total | 223 | 26 |
For the three months ended | For the nine months ended | ||||||||||||||||||||||
October 2, 2022 | October 3, 2021 | October 2, 2022 | October 3, 2021 | ||||||||||||||||||||
Revenue and other income | 2 | 2 | 7 | 6 | |||||||||||||||||||
Purchase of goods and services | 1 | 1 | 3 | 3 |
For the three months ended | For the nine months ended | ||||||||||
September 29, 2019 | September 30, 2018 | September 29, 2019 | September 30, 2018 | ||||||||
Revenue and other income | 19 | 26 | 63 | 105 | |||||||
Purchase of goods and services | 15 | 25 | 50 | 77 |
October 2, 2022 | December 31, 2021 | ||||||||||
Receivables | 1 | 1 | |||||||||
Payables | 3 | 3 |
September 29, 2019 | December 31, 2018 | ||||
Receivables | 22 | 25 | |||
Payables | 13 | 49 |
Estimated fair value | |||||||||||||||||
Fair value hierarchy | October 2, 2022 | December 31, 2021 | |||||||||||||||
Assets: | |||||||||||||||||
Money market funds | 1 | 2,741 | 2,111 | ||||||||||||||
Marketable equity securities | 1 | 7 | 18 | ||||||||||||||
Derivative instruments-assets | 2 | 7 | 5 | ||||||||||||||
Liabilities: | |||||||||||||||||
Derivative instruments-liabilities | 2 | (31) | (3) |
September 29, 2019 | December 31, 2018 | ||||||||||||
Fair value hierarchy | Carrying amount | Estimated fair value | Carrying amount | Estimated fair value | |||||||||
Assets: | |||||||||||||
Money market funds | 1 | 2,372 | 2,372 | 1,906 | 1,906 | ||||||||
Notes hedges | 3 | 88 | 88 | 24 | 24 | ||||||||
Other financial assets | 2 | 49 | 49 | 32 | 32 | ||||||||
Derivative instruments – assets | 2 | 3 | 3 | 6 | 6 | ||||||||
Liabilities: | |||||||||||||
Short-term debt | 2 | — | — | (2 | ) | (2 | ) | ||||||
Short-term debt (2019 Cash Convertible Senior Notes) | 2 | (1,142 | ) | (1,232 | ) | (1,105 | ) | (1,327 | ) | ||||
Long-term debt (bonds) | 2 | (7,363 | ) | (7,874 | ) | (6,222 | ) | (6,191 | ) | ||||
Other long-term debt | 2 | — | — | (25 | ) | (25 | ) | ||||||
Notes Embedded Conversion Derivative | 3 | (88 | ) | (88 | ) | (24 | ) | (24 | ) | ||||
Derivative instruments – liabilities | 2 | (15 | ) | (15 | ) | (2 | ) | (2 | ) |
($ in millions, unless otherwise stated) | Q3 2019 | Q3 2018 | YTD 2019 | YTD 2018 | |||||||
Revenue | 2,265 | 2,445 | 6,576 | 7,004 | |||||||
% nominal growth | (7.4 | ) | 2.4 | (6.1 | ) | 3.0 | |||||
Gross profit | 1,186 | 1,256 | 3,409 | 3,608 | |||||||
Research and development | (396 | ) | (433 | ) | (1,219 | ) | (1,297 | ) | |||
Selling, general and administrative | (221 | ) | (252 | ) | (699 | ) | (742 | ) | |||
Amortization of acquisition-related intangible assets | (358 | ) | (362 | ) | (1,070 | ) | (1,085 | ) | |||
Other income (expense) | 22 | 2,002 | 23 | 2,002 | |||||||
Operating income (loss) | 233 | 2,211 | 444 | 2,486 |
($ in millions, unless otherwise stated) | Q3 2022 | Q3 2021 | YTD 2022 | YTD 2021 | |||||||||||||||||||
Revenue | 3,445 | 2,861 | 9,893 | 8,024 | |||||||||||||||||||
Gross profit | 1,967 | 1,583 | 5,626 | 4,360 | |||||||||||||||||||
Operating income (loss) | 1,001 | 711 | 2,817 | 1,776 | |||||||||||||||||||
Cash flow from operating activities | 1,144 | 924 | 2,819 | 2,292 | |||||||||||||||||||
Total debt | 11,162 | 9,593 | 11,162 | 9,593 | |||||||||||||||||||
Net debt | 7,403 | 7,290 | 7,403 | 7,290 | |||||||||||||||||||
Diluted weighted average number of shares outstanding | 264,705 | 271,359 | 264,838 | 277,886 | |||||||||||||||||||
Diluted net income per share | 2.79 | 1.91 | 7.80 | 4.57 | |||||||||||||||||||
Dividends per common share | 0.8450 | 0.5625 | 2.5350 | 1.6875 |
($ in millions, unless otherwise stated) | Q3 2019 | Q3 2018 | YTD 2019 | YTD 2018 | |||||||
Gross profit | (19 | ) | (20 | ) | (56 | ) | (59 | ) | |||
Selling, general and administrative | (5 | ) | (2 | ) | (8 | ) | (6 | ) | |||
Amortization of acquisition-related intangible assets | (358 | ) | (362 | ) | (1,070 | ) | (1,085 | ) | |||
Operating income (loss) | (382 | ) | (384 | ) | (1,134 | ) | (1,150 | ) |
($ in millions, unless otherwise stated) | Q3 2019 | Q3 2018 | YTD 2019 | YTD 2018 | |||||||||||||
Revenue | Growth % | Revenue | Revenue | Growth % | Revenue | ||||||||||||
Revenue | 2,265 | (7.4 | ) | 2,445 | 6,576 | (6.1 | ) | 7,004 |
($ in millions, unless otherwise stated) | Q3 2022 | Q3 2021 | YTD 2022 | YTD 2021 | |||||||||||||||||||
Revenue | 3,445 | 2,861 | 9,893 | 8,024 | |||||||||||||||||||
% nominal growth | 20.4 | 26.2 | 23.3 | 31.4 | |||||||||||||||||||
Gross profit | 1,967 | 1,583 | 5,626 | 4,360 | |||||||||||||||||||
Research and development | (548) | (492) | (1,608) | (1,429) | |||||||||||||||||||
Selling, general and administrative | (289) | (243) | (805) | (699) | |||||||||||||||||||
Amortization of acquisition-related intangible assets | (131) | (137) | (400) | (456) | |||||||||||||||||||
Other income (expense) | 2 | — | 4 | — | |||||||||||||||||||
Operating income (loss) | 1,001 | 711 | 2,817 | 1,776 |
($ in millions, unless otherwise stated) | Q3 2022 | Q3 2021 | Change | YTD 2022 | YTD 2021 | Change | |||||||||||||||||||||||||||||
Automotive | 1,804 | 1,455 | 24.0 | % | 5,074 | 3,946 | 28.6 | % | |||||||||||||||||||||||||||
Industrial & IoT | 713 | 607 | 17.5 | % | 2,108 | 1,749 | 20.5 | % | |||||||||||||||||||||||||||
Mobile | 410 | 345 | 18.8 | % | 1,199 | 1,038 | 15.5 | % | |||||||||||||||||||||||||||
Communication Infrastructure & Other | 518 | 454 | 14.1 | % | 1,512 | 1,291 | 17.1 | % | |||||||||||||||||||||||||||
Revenue | 3,445 | 2,861 | 20.4 | % | 9,893 | 8,024 | 23.3 | % |
($ in millions, unless otherwise stated) | Q3 2022 | Q3 2021 | Change | YTD 2022 | YTD 2021 | Change | |||||||||||||||||||||||||||||
Distributors | 1,876 | 1,631 | 15.0 | % | 5,385 | 4,617 | 16.6 | % | |||||||||||||||||||||||||||
OEM/EMS | 1,525 | 1,191 | 28.0 | % | 4,378 | 3,295 | 32.9 | % | |||||||||||||||||||||||||||
Other | 44 | 39 | 12.8 | % | 130 | 112 | 16.1 | % | |||||||||||||||||||||||||||
Revenue | 3,445 | 2,861 | 20.4 | % | 9,893 | 8,024 | 23.3 | % |
($ in millions, unless otherwise stated) | Q3 2022 | Q3 2021 | Change | YTD 2022 | YTD 2021 | Change | |||||||||||||||||||||||||||||
Greater China and Asia Pacific | 1,923 | 1,653 | 16.3 | % | 5,454 | 4,638 | 17.6 | % | |||||||||||||||||||||||||||
EMEA (Europe, the Middle East and Africa) | 672 | 536 | 25.4 | % | 1,978 | 1,464 | 35.1 | % | |||||||||||||||||||||||||||
Americas | 468 | 346 | 35.3 | % | 1,335 | 1,003 | 33.1 | % | |||||||||||||||||||||||||||
Japan | 200 | 210 | (4.8) | % | 648 | 587 | 10.4 | % | |||||||||||||||||||||||||||
South Korea | 182 | 116 | 56.9 | % | 478 | 332 | 44.0 | % | |||||||||||||||||||||||||||
Revenue | 3,445 | 2,861 | 20.4 | % | 9,893 | 8,024 | 23.3 | % |
n | Automotive | n | Mobile | |||||||||||
n | Industrial IoT | n | Comm Infra & Other |
n | Distributors | n | Other | |||||||||||
n | OEM/EMS |
($ in millions, unless otherwise stated) | Q3 2019 | Q3 2018 | YTD 2019 | YTD 2018 | |||||||||||||||
Gross profit | % of revenue | Gross profit | % of revenue | Gross profit | % of revenue | Gross profit | % of revenue | ||||||||||||
Gross Profit | 1,186 | 52.4 | 1,256 | 51.4 | 3,409 | 51.8 | 3,608 | 51.5 |
($ in millions, unless otherwise stated) | Q3 2019 | Q3 2018 | YTD 2019 | YTD 2018 | |||||||||||||||
Operating expenses | % of revenue | Operating expenses | % of revenue | Operating expenses | % of revenue | Operating expenses | % of revenue | ||||||||||||
Operating expenses | 975 | 43.0 | 1,047 | 42.8 | 2,988 | 45.4 | 3,124 | 44.6 |
($ in millions, unless otherwise stated) | Q3 2022 | Q3 2021 | YTD 2022 | YTD 2021 | |||||||||||||||||||
Research and development | 548 | 492 | 1,608 | 1,429 | |||||||||||||||||||
Selling, general and administrative | 289 | 243 | 805 | 699 | |||||||||||||||||||
Amortization of acquisition-related intangible assets | 131 | 137 | 400 | 456 | |||||||||||||||||||
Total operating expenses | 968 | 872 | 2,813 | 2,584 |
($ in millions, unless otherwise stated) | Q3 2019 | Q3 2018 | YTD 2019 | YTD 2018 | |||||||
Research and development | 396 | 433 | 1,219 | 1,297 | |||||||
Selling, general and administrative | 221 | 252 | 699 | 742 | |||||||
Amortization of acquisition-related intangible assets | 358 | 362 | 1,070 | 1,085 | |||||||
Operating expenses | 975 | 1,047 | 2,988 | 3,124 |
n | R&D | n | SG&A | n | Amortization acquisition-related |
($ in millions, unless otherwise stated) | Q3 2019 | Q3 2018 | YTD 2019 | YTD 2018 | |||||||||||||||
Operating income (loss) | % of revenue | Operating income (loss) | % of revenue | Operating income (loss) | % of revenue | Operating income (loss) | % of revenue | ||||||||||||
Operating income (loss) | 233 | 10.3 | 2,211 | 90.4 | 444 | 6.8 | 2,486 | 35.5 |
($ in millions, unless otherwise stated) | Q3 2019 | Q3 2018 | YTD 2019 | YTD 2018 | |||||||
Interest income | 17 | 13 | 42 | 38 | |||||||
Interest expense | (98 | ) | (61 | ) | (274 | ) | (197 | ) | |||
Total interest expense, net | (81 | ) | (48 | ) | (232 | ) | (159 | ) | |||
Foreign exchange rate results | 1 | (1 | ) | (6 | ) | (1 | ) | ||||
Extinguishment of debt | (1 | ) | — | (11 | ) | (26 | ) | ||||
Miscellaneous financing costs/income and other, net | (4 | ) | (70 | ) | (8 | ) | (72 | ) | |||
Total other financial income (expense) | (4 | ) | (71 | ) | (25 | ) | (99 | ) | |||
Total | (85 | ) | (119 | ) | (257 | ) | (258 | ) |
($ in millions, unless otherwise stated) | Q3 2022 | Q3 2021 | YTD 2022 | YTD 2021 | |||||||||||||||||||
Interest income | 21 | 1 | 29 | 3 | |||||||||||||||||||
Interest expense | (109) | (96) | (319) | (273) | |||||||||||||||||||
Total interest expense, net | (88) | (95) | (290) | (270) | |||||||||||||||||||
Extinguishment of debt | — | — | (18) | — | |||||||||||||||||||
Foreign exchange rate results | (1) | 3 | 2 | 3 | |||||||||||||||||||
Miscellaneous financing costs/income and other, net | (9) | (1) | (25) | (13) | |||||||||||||||||||
Total other financial income (expense) | (10) | 2 | (41) | (10) | |||||||||||||||||||
Total | (98) | (93) | (331) | (280) |
($ in millions, unless otherwise stated) | Q3 2019 | Q3 2018 | YTD 2019 | YTD 2018 | |||||||
Operating income (loss) | 233 | 2,211 | 444 | 2,486 | |||||||
Financial income (expense) | (85 | ) | (119 | ) | (257 | ) | (258 | ) | |||
Benefit (provision) for income taxes | (28 | ) | (311 | ) | (40 | ) | (317 | ) | |||
Results relating to equity-accounted investees | (1 | ) | 52 | 2 | 58 | ||||||
Net income (loss) | 119 | 1,833 | 149 | 1,969 |
($ in millions, unless otherwise stated) | Q3 2022 | Q3 2021 | YTD 2022 | YTD 2021 | |||||||||||||||||||
Operating income (loss) | 1,001 | 711 | 2,817 | 1,776 | |||||||||||||||||||
Financial income (expense) | (98) | (93) | (331) | (280) | |||||||||||||||||||
Benefit (provision) for income taxes | (149) | (95) | (392) | (200) | |||||||||||||||||||
Results relating to equity-accounted investees | (4) | 3 | 5 | — | |||||||||||||||||||
Net income (loss) | 750 | 526 | 2,099 | 1,296 |
($ in millions, unless otherwise stated) | YTD 2019 | YTD 2018 | ($ in millions, unless otherwise stated) | YTD 2022 | YTD 2021 | |||||||||||
Net cash provided by (used for) operating activities | 1,559 | 3,638 | Net cash provided by (used for) operating activities | 2,819 | 2,292 | |||||||||||
Net cash provided by (used for) investing activities | (418 | ) | (348 | ) | ||||||||||||
Net cash (used for) provided by investing activities | Net cash (used for) provided by investing activities | (977) | (618) | |||||||||||||
Net cash provided by (used for) financing activities | (388 | ) | (4,885 | ) | Net cash provided by (used for) financing activities | (891) | (1,640) | |||||||||
Net cash increase (decrease) in cash and cash equivalents | 753 | (1,595 | ) | |||||||||||||
Increase (decrease) in cash and cash equivalents | Increase (decrease) in cash and cash equivalents | 951 | 34 |
($ in millions) | YTD 2022 | YTD 2021 | |||||||||
Repurchase of long-term debt | (917) | — | |||||||||
Proceeds from the issuance of long-term debt | 1,496 | 2,000 | |||||||||
Cash paid for debt issuance costs | (13) | (22) | |||||||||
Dividends paid to common stockholders | (594) | (412) | |||||||||
Cash proceeds from exercise of stock options and savings from ESPP | 58 | 60 | |||||||||
Purchase of treasury shares | (920) | (3,265) | |||||||||
Other, net | (1) | (1) |
For the nine months ended | |||||
($ in millions) | October 2, 2022 | ||||
Revenue | 5,731 | ||||
Gross Profit | 2,938 | ||||
Operating income | 1,115 | ||||
Net income | 452 |
As of | |||||||||||
($ in millions) | October 2, 2022 | December 31, 2021 | |||||||||
Current assets | 3,617 | 2,535 | |||||||||
Non-current assets | 11,572 | 11,576 | |||||||||
Total assets | 15,189 | 14,111 | |||||||||
Current liabilities | 1,057 | 637 | |||||||||
Non-current liabilities | 11,532 | 10,792 | |||||||||
Total liabilities | 12,589 | 11,429 | |||||||||
Obligor's Group equity | 2,600 | 2,682 | |||||||||
Total liabilities and Obligor's Group equity | 15,189 | 14,111 |
Period | Total Number of Shares Purchased | Average Price Paid per Share | Number of Shares Purchased as Part of Publicly Announced Buy Back Programs | Maximum Number of Shares That May Yet Be Purchased Under the Buy Back Program (1) | Number of Shares Purchased as Trade for Tax (1) | |||||||||
July 1, 2019 – August 4, 2019 | 84,865 | $101.81 | — | — | 84,865 | |||||||||
August 5, 2019 – September 1, 2019 | 3,829 | $100.78 | — | — | 3,829 | |||||||||
September 2, 2019 – September 29, 2019 | 200 | $106.00 | — | — | 200 | |||||||||
Total | 88,894 | — | 88,894 |
Period | Total Number of Shares Purchased | Average Price Paid per Share | Number of Shares Purchased as Part of Publicly Announced Buy Back Programs | Maximum Number of Shares That May Yet Be Purchased Under the Buy Back Program | Number of Shares Purchased as Trade for Tax (1) | ||||||||||||||||||||||||
July 4, 2022 – August 7, 2022 | 17,125 | $181.53 | — | 17,663,112 | 17,125 | ||||||||||||||||||||||||
August 8, 2022 – September 4, 2022 | 655,429 | $164.34 | 655,410 | 19,095,814 | 19 | ||||||||||||||||||||||||
September 5, 2022 – October 2, 2022 | 1,828,747 | $158.25 | 1,828,747 | 19,060,244 | — | ||||||||||||||||||||||||
Total | 2,501,301 | 2,484,157 | 17,144 |
Exhibit Number | Exhibit Description | |||||||||||||
3.1 | ||||||||||||||
31.1* | ||||||||||||||
31.2* | ||||||||||||||
32.1* | ||||||||||||||
101 | The following materials from the Company’s Quarterly Report on Form 10-Q for the quarter ended | |||||||||||||
104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |
Filed or furnished herewith. | |||||
+ | Indicates management contract or compensatory plan or arrangement. | ||||
NXP Semiconductors N.V. | |||||
/s/ William J. Betz | |||||
By: | /s/ | |||||||
President & Chief Executive Officer |
By: | /s/ | |||||||
Chief Financial Officer |
By: | /s/ | |||||||
President & Chief Executive Officer |
By: | /s/ | |||||||
Chief Financial Officer |