$SLAB
Silicon Laboratories Inc

2023 Q2 Form 10-Q Financial Statement

#000110465923049995 Filed on April 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q2
Revenue $246.8M
YoY Change 5.55%
Cost Of Revenue $92.93M
YoY Change 19.07%
Gross Profit $153.9M
YoY Change -1.23%
Gross Profit Margin 62.35%
Selling, General & Admin $44.89M
YoY Change 0.55%
% of Gross Profit 29.18%
Research & Development $89.40M
YoY Change 15.29%
% of Gross Profit 58.1%
Depreciation & Amortization $6.235M
YoY Change 20.93%
% of Gross Profit 4.05%
Operating Expenses $134.3M
YoY Change 9.9%
Operating Profit $19.57M
YoY Change -41.72%
Interest Expense $1.656M
YoY Change -1.43%
% of Operating Profit 8.46%
Other Income/Expense, Net
YoY Change
Pretax Income $22.75M
YoY Change -31.88%
Income Tax $7.800M
% Of Pretax Income 34.28%
Net Earnings $13.97M
YoY Change -39.03%
Net Earnings / Revenue 5.66%
Basic Earnings Per Share $0.44
Diluted Earnings Per Share $0.41
COMMON SHARES
Basic Shares Outstanding 31.96M
Diluted Shares Outstanding 33.75M

Balance Sheet

Concept 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.152B
YoY Change -40.42%
Cash & Equivalents $716.4M
Short-Term Investments $435.7M
Other Short-Term Assets $87.73M
YoY Change 59.71%
Inventory $133.2M
Prepaid Expenses
Receivables $87.69M
Other Receivables $0.00
Total Short-Term Assets $1.461B
YoY Change -31.21%
LONG-TERM ASSETS
Property, Plant & Equipment $152.1M
YoY Change 2.82%
Goodwill $376.4M
YoY Change 0.0%
Intangibles $78.40M
YoY Change -27.83%
Long-Term Investments
YoY Change
Other Assets $93.81M
YoY Change 7.33%
Total Long-Term Assets $700.7M
YoY Change -2.73%
TOTAL ASSETS
Total Short-Term Assets $1.461B
Total Long-Term Assets $700.7M
Total Assets $2.161B
YoY Change -23.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $71.44M
YoY Change 10.95%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $530.1M
YoY Change
Total Short-Term Liabilities $693.3M
YoY Change 181.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change -100.0%
Other Long-Term Liabilities $48.66M
YoY Change -21.27%
Total Long-Term Liabilities $48.66M
YoY Change -21.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $693.3M
Total Long-Term Liabilities $48.66M
Total Liabilities $742.0M
YoY Change -11.26%
SHAREHOLDERS EQUITY
Retained Earnings $1.426B
YoY Change -29.34%
Common Stock $3.000K
YoY Change -25.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.419B
YoY Change
Total Liabilities & Shareholders Equity $2.161B
YoY Change -23.99%

Cashflow Statement

Concept 2023 Q2
OPERATING ACTIVITIES
Net Income $13.97M
YoY Change -39.03%
Depreciation, Depletion And Amortization $6.235M
YoY Change 20.93%
Cash From Operating Activities -$13.28M
YoY Change -117.66%
INVESTING ACTIVITIES
Capital Expenditures $7.657M
YoY Change 68.14%
Acquisitions
YoY Change
Other Investing Activities $261.9M
YoY Change -223.07%
Cash From Investing Activities $254.3M
YoY Change -216.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $17.61M
YoY Change -88.84%
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -24.54M
YoY Change -85.26%
NET CHANGE
Cash From Operating Activities -13.28M
Cash From Investing Activities 254.3M
Cash From Financing Activities -24.54M
Net Change In Cash 216.5M
YoY Change -170.12%
FREE CASH FLOW
Cash From Operating Activities -$13.28M
Capital Expenditures $7.657M
Free Cash Flow -$20.94M
YoY Change -129.63%

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PaymentsForRepurchaseOfCommonStock
17608000
CY2022Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
157778000
CY2023Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6931000
CY2022Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8755000
CY2023Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-24539000
CY2022Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-166533000
CY2023Q2 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
0
CY2022Q2 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-10000000
CY2023Q2 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
0
CY2022Q2 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
-10000000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
216462000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-308712000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
499915000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1074623000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
716377000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
765911000
CY2023Q2 us-gaap Fiscal Period Duration
FiscalPeriodDuration
P364D
CY2022 us-gaap Fiscal Period Duration
FiscalPeriodDuration
P364D
CY2023Q2 us-gaap Fiscal Period Duration
FiscalPeriodDuration
P364D
CY2023Q2 slab Number Of Days In Fiscal Quarter52 Week Year
NumberOfDaysInFiscalQuarter52WeekYear
P91D
CY2023Q2 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">Use of Estimates</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Among the significant estimates affecting the financial statements are those related to inventories, goodwill, acquired intangible assets, other long-lived assets, revenue recognition, stock-based compensation and income taxes. Actual results could differ from those estimates, and such differences could be material to the financial statements. The Company periodically reviews the assumptions used in its financial statement estimates.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">​</span></p>
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13967000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22907000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31959000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38003000
CY2023Q2 slab Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements And Conversion Of Debt Securities
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsAndConversionOfDebtSecurities
1794000
CY2022Q2 slab Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements And Conversion Of Debt Securities
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsAndConversionOfDebtSecurities
1520000
CY2023Q2 slab Weighted Average Number Of Shares Outstanding Diluted Shares Used In Calculating Earnings Per Share Continuing Operations
WeightedAverageNumberOfSharesOutstandingDilutedSharesUsedInCalculatingEarningsPerShareContinuingOperations
33753000
CY2022Q2 slab Weighted Average Number Of Shares Outstanding Diluted Shares Used In Calculating Earnings Per Share Continuing Operations
WeightedAverageNumberOfSharesOutstandingDilutedSharesUsedInCalculatingEarningsPerShareContinuingOperations
39523000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.44
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.60
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.41
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.58
CY2023Q2 slab Incremental Common Shares Attributable To Dilutive Effect Of Conversion Of Debt Securities Treasury Stock Method
IncrementalCommonSharesAttributableToDilutiveEffectOfConversionOfDebtSecuritiesTreasuryStockMethod
1200000
CY2022Q2 slab Incremental Common Shares Attributable To Dilutive Effect Of Conversion Of Debt Securities Treasury Stock Method
IncrementalCommonSharesAttributableToDilutiveEffectOfConversionOfDebtSecuritiesTreasuryStockMethod
1000000.0
CY2023Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
563856000
CY2023Q2 us-gaap Short Term Investments
ShortTermInvestments
435699000
CY2023Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
999555000
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
314218000
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
692024000
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
1006242000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
188907000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
186023000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
254715000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
249676000
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
443622000
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
435699000
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
83375000
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
645000
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
312120000
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
7368000
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
395495000
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
8013000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
383736000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
5923000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
285676000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
7631000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
669412000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
13554000
CY2023Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
104549000
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
75112000
CY2023Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
28687000
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
25305000
CY2023Q2 us-gaap Inventory Net
InventoryNet
133236000
CY2022Q4 us-gaap Inventory Net
InventoryNet
100417000
CY2023Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
700000
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1900000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
246787000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
233814000
CY2023Q2 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
4900000
CY2022Q2 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
21500000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
246787000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
233814000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16638000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12875000
CY2023Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1786000
CY2022Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1845000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
14852000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
11030000
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
110900000
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y1M6D
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7800000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11700000
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.357
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.338
CY2023Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
4600000

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