NXP Semiconductors N.V. Files 2023 Annual Report on Form 10-K

TL;DR

<b>NXP Semiconductors N.V. has submitted its 2023 10-K filing, providing a comprehensive overview of its financial performance and position for the fiscal year ending December 31, 2023.</b>

AI Summary

NXP Semiconductors N.V. (NXPI) filed a Annual Report (10-K) with the SEC on February 22, 2024. NXP Semiconductors N.V. filed its 2023 Form 10-K on February 22, 2024, reporting on the fiscal year ending December 31, 2023. The filing covers financial data for the fiscal years 2023, 2022, and 2021. Key financial statement items such as revenue, net income, and EPS are detailed for these periods. The company's business address is High Tech Campus 60, Eindhoven, P7, 5656AG. The filing includes references to various US GAAP financial reporting standards.

Why It Matters

For investors and stakeholders tracking NXP Semiconductors N.V., this filing contains several important signals. This 10-K filing provides investors with the official audited financial statements and management's discussion and analysis for NXP Semiconductors N.V. for the fiscal year 2023, enabling detailed performance evaluation. The detailed financial data, including revenue, net income, and balance sheet information across multiple years, allows for trend analysis and comparison against industry benchmarks and competitors.

Risk Assessment

Risk Level: medium — NXP Semiconductors N.V. shows moderate risk based on this filing. The filing is a standard annual report (10-K), which typically contains a broad range of information including financial performance, risk factors, and business operations, but does not indicate any immediate or severe financial distress or significant new risks.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to assess NXP Semiconductors' performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report.)
• 2024-02-22 — Filing Date (Date the 10-K was filed.)

Key Players & Entities

• NXP Semiconductors N.V. (company) — Filer of the 10-K report.
• 2023 (date) — Fiscal year end date.
• 2024-02-22 (date) — Filing date.
• Eindhoven (location) — City of the company's business address.

FAQ

Industry Context

NXP Semiconductors N.V. operates in the semiconductors industry, a sector critical for automotive, industrial, mobile, and other technology applications.

Regulatory Implications

The filing adheres to SEC regulations for annual reports (Form 10-K) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue trends and profitability.
2. Review the business description for strategic priorities and market positioning.
3. Examine risk factors for potential challenges and mitigation strategies.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-22: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the 2023 fiscal year, providing a baseline for future comparisons.

Key Financial Figures

• $13,276 m — ember 31, 2023, we generated revenue of $13,276 million, compared to $13,205 million for
• $13,205 million — revenue of $13,276 million, compared to $13,205 million for the year ended December 31, 2022.
• $527 billion — ducts. The semiconductor market totaled $527 billion in 2023. Reporting Segment NXP has o

Filing Documents

• nxpi-20231231.htm (10-K) — 2291KB
• a211listofsubsidiaries.htm (EX-21.1) — 3KB
• a221nxp-guarantorlist.htm (EX-22.1) — 2KB
• exhibit231.htm (EX-23.1) — 1KB
• exhibit311.htm (EX-31.1) — 4KB
• exhibit312.htm (EX-31.2) — 4KB
• exhibit321.htm (EX-32.1) — 2KB
• a971clawbackpolicy.htm (EX-97.1) — 17KB
• a211listofsubsidiaries001.jpg (GRAPHIC) — 131KB
• a211listofsubsidiaries002.jpg (GRAPHIC) — 55KB
• a221nxp-guarantorlist001.jpg (GRAPHIC) — 83KB
• a971clawbackpolicy001.jpg (GRAPHIC) — 242KB
• a971clawbackpolicy002.jpg (GRAPHIC) — 278KB
• a971clawbackpolicy003.jpg (GRAPHIC) — 283KB
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• a971clawbackpolicy005.jpg (GRAPHIC) — 61KB
• a971clawbackpolicy006.jpg (GRAPHIC) — 104KB
• exhibit231001.jpg (GRAPHIC) — 66KB
• exhibit311001.jpg (GRAPHIC) — 174KB
• exhibit312001.jpg (GRAPHIC) — 174KB
• exhibit321001.jpg (GRAPHIC) — 100KB
• nxpi-20231231_g1.jpg (GRAPHIC) — 36KB
• nxpi-20231231_g2.jpg (GRAPHIC) — 223KB
• nxpi-20231231_g3.jpg (GRAPHIC) — 103KB
• nxpi-20231231_g4.jpg (GRAPHIC) — 37KB
• nxpi-20231231_g5.jpg (GRAPHIC) — 32KB
• 0001413447-24-000013.txt (&nbsp;) — 17768KB
• nxpi-20231231.xsd (EX-101.SCH) — 98KB
• nxpi-20231231_cal.xml (EX-101.CAL) — 143KB
• nxpi-20231231_def.xml (EX-101.DEF) — 506KB
• nxpi-20231231_lab.xml (EX-101.LAB) — 1216KB
• nxpi-20231231_pre.xml (EX-101.PRE) — 861KB
• nxpi-20231231_htm.xml (XML) — 2264KB

Risk Factors

Item 1A. Risk Factors 16

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 30

Cybersecurity

Item 1C. Cybersecurity 30

Proper ties

Item 2. Proper ties 31

Legal Proceedings

Item 3. Legal Proceedings 31

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 31 Part II 32

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32

[Reserved]

Item 6. [Reserved] 33

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 33

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 51

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 53

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 103

Controls and Procedures

Item 9A. Controls and Procedures 103

Other Information

Item 9B. Other Information 103

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 104 PART III 105

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 105

Executive Compensation

Item 11. Executive Compensation 105

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 105

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 105

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 105 Part IV 106

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 106

Form 10-K Summary

Item 16. Form 10-K Summary 108 Introduction and Forward Looking Statements This Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the "Annual Report") and certain information incorporated herein by reference contains forward-looking statements, which are provided under the "safe harbor" protection of the Private Securities Litigation Reform Act of 1995. When used in this Annual Report, the words "anticipate", "believe", "estimate", "forecast", "expect", "intend", "plan" and "project" and similar expressions, as they relate to us, our management or third parties, identify forward-looking statements. Forward-looking statements include statements regarding our business strategy, financial condition, results of operations, market data as well as any other statements that are not historical facts. These statements reflect beliefs of our management, as well as assumptions made by our management and information currently available to us. Although we believe that these beliefs and assumptions are reasonable, these statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties expressly qualify all subsequent oral and written forward-looking statements attributable to us or persons acting on our behalf and include, in addition to those listed under Part I, Item 1A. Risk Factors and elsewhere in this Annual Report, the following: market demand and semiconductor industry conditions; our ability to successfully introduce new technologies and products; the demand for the goods into which our products are incorporated; trade disputes between the U.S. and China, potential increase of barriers to international trade and resulting disruptions to our established supply chains; the impact of government actions and regulations, including restrictions on the export of US-regulated products and technology; increasing and

Business

Item 1. Business Company Overview NXP Semiconductors N.V. is a global semiconductor company and a long-standing supplier in the industry, with over 70 years of innovation and operating history. For the year ended December 31, 2023, we generated revenue of $13,276 million, compared to $13,205 million for the year ended December 31, 2022. We provide leading solutions that leverage our combined portfolio of intellectual property, deep application knowledge, process technology and manufacturing expertise in the domains of cryptography-security, high-speed interface, radio frequency (RF), mixed-signal analog-digital (mixed A/D), power management, digital signal processing and embedded system design. Our product solutions are used in a wide range of end market applications including: automotive, industrial & Internet of Things (IoT), mobile, and communication infrastructure. We engage with leading global original equipment manufacturers (OEMs) and sell products in all major geographic regions. Our legal name is NXP Semiconductors N.V. and our commercial name is "NXP" or "NXP Semiconductors." We were incorporated in the Netherlands in 2006 and are a Dutch public company with limited liability (naamloze vennootschap). Our corporate seat is in Eindhoven, the Netherlands. Our principal executive office is at High Tech Campus 60, 5656 AG Eindhoven, the Netherlands, and our telephone number is +31 40 2729999. Our registered agent in the United States is NXP USA, Inc., 6501 William Cannon Dr. West, Austin, Texas 78735, United States of America, phone number +1 512 9338214. Semiconductor Market Overview Semiconductors perform a broad variety of functions within electronic products and systems, including processing data, sensing, storing information and converting or controlling electronic signals. Semiconductors vary significantly depending upon the specific function or application of the end product in which the semiconductor is used and the customer who is deploying

View Full Filing

View this 10-K filing on SEC EDGAR