2023 Q1 Form 10-K Financial Statement

#000141344723000006 Filed on March 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $3.445B $13.21B
YoY Change 20.41% 19.36%
Cost Of Revenue $1.478B $5.688B
YoY Change 15.65% 13.85%
Gross Profit $1.967B $7.517B
YoY Change 24.26% 23.9%
Gross Profit Margin 57.1% 56.93%
Selling, General & Admin $289.0M $1.066B
YoY Change 18.93% 11.51%
% of Gross Profit 14.69% 14.18%
Research & Development $548.0M $2.148B
YoY Change 11.38% 10.95%
% of Gross Profit 27.86% 28.58%
Depreciation & Amortization $321.0M $1.250B
YoY Change 4.9% -0.95%
% of Gross Profit 16.32% 16.63%
Operating Expenses $968.0M $3.720B
YoY Change 11.01% 6.77%
Operating Profit $1.001B $3.797B
YoY Change 40.79% 47.0%
Interest Expense $109.0M $427.0M
YoY Change 13.54% 15.72%
% of Operating Profit 10.89% 11.25%
Other Income/Expense, Net -$98.00M -$416.0M
YoY Change 5.38% 3.23%
Pretax Income $903.0M $3.363B
YoY Change 46.12% 257.01%
Income Tax $149.0M $529.0M
% Of Pretax Income 16.5% 15.73%
Net Earnings $738.0M $2.787B
YoY Change 42.2% 48.96%
Net Earnings / Revenue 21.42% 21.11%
Basic Earnings Per Share $2.81 $10.64
Diluted Earnings Per Share $2.79 $10.55M
COMMON SHARES
Basic Shares Outstanding 259.5M shares 262.2M shares 261.9M shares
Diluted Shares Outstanding 264.7M shares 264.1M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.766B $3.845B
YoY Change 32.23% 35.87%
Cash & Equivalents $3.759B $3.845B
Short-Term Investments $7.000M
Other Short-Term Assets $351.0M $348.0M
YoY Change 22.73% 21.68%
Inventory $1.581B $1.782B
Prepaid Expenses
Receivables $1.012B $960.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.703B $6.935B
YoY Change 28.21% 32.65%
LONG-TERM ASSETS
Property, Plant & Equipment $2.971B $3.105B
YoY Change 12.75% 8.53%
Goodwill $9.909B
YoY Change -0.52%
Intangibles
YoY Change
Long-Term Investments $81.00M
YoY Change 8.0%
Other Assets $1.940B $1.942B
YoY Change 44.13% 73.39%
Total Long-Term Assets $16.24B $16.30B
YoY Change 3.84% 4.25%
TOTAL ASSETS
Total Short-Term Assets $6.703B $6.935B
Total Long-Term Assets $16.24B $16.30B
Total Assets $22.94B $23.24B
YoY Change 9.95% 11.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.534B $1.617B
YoY Change 22.52% 29.15%
Accrued Expenses $508.0M $522.0M
YoY Change -1.55% -1.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $3.219B $3.270B
YoY Change 31.28% 33.36%
LONG-TERM LIABILITIES
Long-Term Debt $11.16B $11.17B
YoY Change 29.88% 5.61%
Other Long-Term Liabilities $1.123B $1.016B
YoY Change 12.19% 0.3%
Total Long-Term Liabilities $12.34B $12.18B
YoY Change 5.96% 5.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.219B $3.270B
Total Long-Term Liabilities $12.34B $12.18B
Total Liabilities $15.56B $15.79B
YoY Change 10.37% 10.12%
SHAREHOLDERS EQUITY
Retained Earnings -$4.039B
YoY Change -24.8%
Common Stock $14.05B
YoY Change 1.95%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.765B
YoY Change 43.12%
Treasury Stock Shares 14.13M shares
Shareholders Equity $7.106B $7.449B
YoY Change
Total Liabilities & Shareholders Equity $22.94B $23.24B
YoY Change 9.95% 11.37%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $738.0M $2.787B
YoY Change 42.2% 48.96%
Depreciation, Depletion And Amortization $321.0M $1.250B
YoY Change 4.9% -0.95%
Cash From Operating Activities $1.144B $3.895B
YoY Change 23.81% 26.58%
INVESTING ACTIVITIES
Capital Expenditures -$332.0M -$1.227B
YoY Change 37.19% -259.97%
Acquisitions $27.00M
YoY Change 17.39%
Other Investing Activities -$28.00M -$22.00M
YoY Change 366.67% 1000.0%
Cash From Investing Activities -$360.0M -$1.249B
YoY Change 45.16% 33.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.367B
YoY Change -134.05%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -559.0M -1.619B
YoY Change -56.33% 2.15%
NET CHANGE
Cash From Operating Activities 1.144B 3.895B
Cash From Investing Activities -360.0M -1.249B
Cash From Financing Activities -559.0M -1.619B
Net Change In Cash 225.0M 1.027B
YoY Change -137.25% 85.05%
FREE CASH FLOW
Cash From Operating Activities $1.144B $3.895B
Capital Expenditures -$332.0M -$1.227B
Free Cash Flow $1.476B $5.122B
YoY Change 26.59% 121.73%

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<div style="margin-bottom:3pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates</span></div><div style="margin-bottom:3pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
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CY2021Q4 us-gaap Foreign Currency Exchange Rate Translation1
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CY2022 us-gaap Concentration Risk Credit Risk
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<div style="margin-bottom:3pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of risk </span></div><div style="margin-bottom:3pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments, including derivative financial instruments, that may potentially subject NXP to concentrations of credit risk, consist principally of cash and cash equivalents, short-term investments, long-term investments, accounts receivable and forward contracts. </span></div><div style="margin-bottom:3pt;text-indent:24.75pt"><span><br/></span></div><div style="margin-bottom:3pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We sell our products to OEMs and to distributors in various markets, who resell these products to OEMs or to their subcontract manufacturers. One of our distributors accounted for 20% of our revenue in 2022, 18% in 2021 and 17% in 2020. No other distributor accounted for greater than 10% of our revenue for 2022, 2021 or 2020. No individual OEM for which we had direct sales to accounted for more than 10% of our revenue for 2022, 2021 or 2020.</span></div><div style="margin-bottom:3pt;text-indent:24.75pt"><span><br/></span></div><div style="margin-bottom:3pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Credit exposure related to NXP’s foreign currency forward contracts is limited to the realized and unrealized gains on these contracts. </span></div><div style="margin-bottom:3pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company uses outside suppliers or foundries for a portion of its manufacturing capacity. </span></div>We have operations in Europe and Asia subject to collective bargaining agreements which could pose a risk to the Company but we do not expect that our operations will be disrupted if such is the case.
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CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2020 nxpi Employee Service Share Based Compensation Excess Tax Benefit From Compensation Expense Portion Of Excess Tax Benefits
EmployeeServiceShareBasedCompensationExcessTaxBenefitFromCompensationExpensePortionOfExcessTaxBenefits
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CY2021 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
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CY2021 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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CY2021 us-gaap Other Comprehensive Income Loss Tax
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CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2022 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
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CY2022 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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CY2022 us-gaap Other Comprehensive Income Loss Tax
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46000000 usd
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
28000000 usd
CY2022 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
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CY2021 us-gaap Revenue From Related Parties
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CY2020 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
54000000 usd
CY2022 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
4000000 usd
CY2021 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
4000000 usd
CY2020 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
36000000 usd
CY2022Q4 us-gaap Accounts Receivable Related Parties
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CY2021Q4 us-gaap Accounts Receivable Related Parties
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CY2022Q4 us-gaap Accounts Payable Related Parties Current And Noncurrent
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3000000 usd
CY2021Q4 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
3000000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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13205000000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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11063000000 usd
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8612000000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3105000000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2635000000 usd
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2284000000 usd

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
nxpi-20221231_lab.xml Edgar Link unprocessable
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0001413447-23-000006-index.html Edgar Link pending
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a211listofsubsidiaries.htm Edgar Link pending
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a221nxp-guarantorlist.htm Edgar Link pending
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nxpi-20221231.xsd Edgar Link pending
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