Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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NXP Semiconductors N.V., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).
- Net income (loss)
- The net income improved significantly from a loss of US$ 13 million in March 2020 to positive figures from the fourth quarter of 2020 onwards. From December 2020 to July 2022, net income showed a steady increase, reaching US$ 683 million, reflecting strong and consistent profitability growth over this period.
- Depreciation and amortization
- Depreciation and amortization expenses fluctuated, starting at US$ 540 million in March 2020, peaking at US$ 589 million in September 2020, then declining below US$ 320 million from December 2020 onwards with relatively stable values around US$ 310–317 million, indicating controlled non-cash expense levels in recent quarters.
- Share-based compensation
- Share-based compensation remained relatively consistent, mostly oscillating between US$ 80 million and US$ 110 million across all quarters, suggesting stable employee compensation costs related to equity incentives.
- Amortization of discount (premium) on debt, net
- This item showed sporadic minor values with no clear trend, including occasional credits and debits, indicating minimal impact on overall financials.
- Amortization of debt issuance costs
- These costs were minor and stable, typically ranging from US$ 1 million to US$ 3 million per quarter, reflecting ongoing, low-level amortization of financing costs.
- Net gain on sale of assets
- There were intermittent small losses from sales of assets, with a notable loss of US$ 110 million in March 2020, followed by relatively negligible amounts in other quarters, suggesting asset disposals were not a major recurring factor.
- (Gain) loss on equity security, net
- Fluctuating net gains and losses occurred with no sustained pattern, ranging from -US$ 21 million to +US$ 8 million, indicating variability in investment valuations or related activities.
- Loss on extinguishment of debt
- Losses related to debt extinguishment occurred irregularly, with US$ 60 million in December 2020 and smaller amounts in later quarters, indicating occasional refinancing costs.
- Results relating to equity-accounted investees
- This item ranged modestly between -US$ 12 million and +US$ 3 million, showing some variability but no strong trend.
- Deferred tax expense (benefit)
- Deferred tax benefits were observed with negative values, especially in early quarters, but became more positive and variable later, reflecting changes in tax positions or timing differences over time.
- Changes in working capital components
- The changes in receivables and inventories fluctuated significantly, evidencing operational shifts. Notably, receivables movements were negative in several quarters, indicating cash inflows, while inventory reductions intensified in 2021 and 2022. Accounts payable and accrued liabilities increased markedly in some quarters, especially Q2 2022, suggesting growth in supplier financing. Overall, changes in operating assets and liabilities fluctuated, with notable negative impacts in some recent quarters, implying tightening working capital management.
- Adjustments to reconcile net income to net cash from operating activities
- These adjustments varied quarter to quarter but remained substantial, supporting positive cash flows from operations despite net income volatility.
- Net cash provided by operating activities
- Operating cash flow showed a robust increase from US$ 512 million in March 2020 to a peak of US$ 1,029 million in December 2020, followed by consistently high values above US$ 600 million through July 2022, indicating strong cash generation ability.
- Investing activities
- Capital expenditures steadily increased, peaking at US$ 280 million in April 2022, indicative of sustained investment in property, plant, and equipment. Purchases of intangible assets hovered around US$ 20-45 million per quarter. Net cash used in investing activities rose over time, reaching nearly US$ 330 million in early 2022, reflecting continued capital deployment despite increasing operating cash flows. Disposals and proceeds from asset sales remained modest, not offsetting heavy investment outflows significantly.
- Financing activities
- Financing cash flows were volatile. Early quarters in 2020 featured significant issuance of long-term debt amounting to US$ 2 billion on two occasions, offset partially by substantial debt repurchases and treasury share buybacks. Dividends remained relatively stable but increased in Q3 2022 to US$ 222 million. Share repurchases were substantial in multiple quarters, especially in 2021, but reduced sharply in 2022. Overall, net financing activities displayed sharp swings from positive to negative cash flows, indicating active capital structure management.
- Effect of changes in exchange rates on cash
- Currency exchange impacts were minor and inconsistent across quarters, with marginal gains or losses having limited effect on cash position.
- Increase (decrease) in cash and cash equivalents
- Cash levels showed high volatility, with a significant increase of US$ 2.2 billion in Q2 2020, likely due to debt issuance. Subsequent quarters exhibited alternating increases and decreases, with notable declines in late 2020 and early 2021 followed by recoveries in mid-2021 and 2022. The net effect reflects dynamic liquidity management responding to operating cash flows, investing needs, and financing activities.