NXP Semiconductors N.V. Files 10-Q for Q1 2024

TL;DR

<b>NXP Semiconductors N.V. has submitted its Q1 2024 10-Q filing, detailing financial performance and position as of March 31, 2024.</b>

AI Summary

NXP Semiconductors N.V. (NXPI) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. NXP Semiconductors N.V. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. The report includes financial data for the periods ending March 31, 2024, December 31, 2023, and April 2, 2023. Key financial statement members such as Common Stock, Additional Paid-In Capital, and Retained Earnings are detailed for various periods.

Why It Matters

For investors and stakeholders tracking NXP Semiconductors N.V., this filing contains several important signals. This 10-Q filing provides investors with a quarterly update on NXP's financial health, operational performance, and strategic positioning in the semiconductor market. The detailed financial statements and disclosures within the report are crucial for understanding the company's revenue streams, profitability, and balance sheet strength, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — NXP Semiconductors N.V. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) which typically contains routine financial information and does not indicate any immediate, significant positive or negative events, but requires careful review of the detailed financial data.

Analyst Insight

Review the detailed financial statements and segment data in the 10-Q to assess NXP's performance trends and identify any shifts in revenue or profitability.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report.)
• 2024-01-01 — Period Start Date (Quarterly period start.)
• 2023-04-02 — Comparative Period End Date (Previous year's comparable quarter end.)
• 2023-01-01 — Comparative Period Start Date (Previous year's comparable quarter start.)

Key Players & Entities

• NXP Semiconductors N.V. (company) — Filer of the 10-Q report.
• 31 6 54 265349 (dollar_amount) — Business phone number.
• 2024-03-31 (date) — Conformed period of report.
• 2024-04-30 (date) — Filed as of date.
• 2023-04-02 (date) — Comparative period end date.
• 2022-12-31 (date) — Prior year end date.

FAQ

Industry Context

NXP Semiconductors N.V. operates in the semiconductor industry, a sector characterized by rapid technological advancements, cyclical demand, and significant global competition.

Regulatory Implications

The filing is subject to SEC regulations, requiring adherence to U.S. Generally Accepted Accounting Principles (GAAP) for financial reporting.

What Investors Should Do

1. Analyze revenue trends by segment (Distributors, OEMs/EMS) for Q1 2024.
2. Compare key financial metrics (e.g., net income, EPS if available) to the prior year's comparable quarter.
3. Review any new risk factors or management discussion and analysis (MD&A) sections for strategic insights.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q.
• 2024-04-30: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report for NXP Semiconductors N.V. in fiscal year 2024, providing an update compared to the previous quarter and the same quarter in the prior year.

Key Financial Figures

• $7 million — period ending March 31, 2024 consist of $7 million for personnel related costs for specifi

Filing Documents

• nxpi-20240331.htm (10-Q) — 1013KB
• nxpi-20240331_g1.jpg (GRAPHIC) — 26KB
• nxpi-20240331_g2.jpg (GRAPHIC) — 32KB
• nxpi-20240331_g3.jpg (GRAPHIC) — 32KB
• nxpi-20240331_g4.jpg (GRAPHIC) — 36KB
• nxpi-20240331_g5.jpg (GRAPHIC) — 32KB
• nxpi-20240331_g6.jpg (GRAPHIC) — 27KB
• nxpi-20240331_g7.jpg (GRAPHIC) — 33KB
• 0001413447-24-000038.txt (&nbsp;) — 5918KB
• nxpi-20240331.xsd (EX-101.SCH) — 39KB
• nxpi-20240331_cal.xml (EX-101.CAL) — 77KB
• nxpi-20240331_def.xml (EX-101.DEF) — 145KB
• nxpi-20240331_lab.xml (EX-101.LAB) — 439KB
• nxpi-20240331_pre.xml (EX-101.PRE) — 318KB
• nxpi-20240331_htm.xml (XML) — 689KB

Financial Statements

Financial Statements 3 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28 Part II Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 5. Other Information 29 Item 6. Exhibits 30 Introduction and Forward Looking Statements This Form 10-Q 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 Form 10-Q, 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 in our Annual Report on Form 10-K for the year ended December 31, 2023 under Part I, Item 1A. Risk Factors and elsewhere in this Form 10-Q, 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 regulatio

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) ($ in millions, unless otherwise stated) For the three months ended March 31, 2024 April 2, 2023 Revenue 3,126 3,121 Cost of revenue ( 1,343 ) ( 1,351 ) Gross profit 1,783 1,770 Research and development ( 564 ) ( 577 ) Selling, general and administrative ( 306 ) ( 280 ) Amortization of acquisition-related intangible assets ( 51 ) ( 85 ) Total operating expenses ( 921 ) ( 942 ) Other income (expense) ( 6 ) ( 3 ) Operating income (loss) 856 825 Financial income (expense): Extinguishment of debt — — Other financial income (expense) ( 70 ) ( 82 ) Income (loss) before income taxes 786 743 Benefit (provision) for income taxes ( 141 ) ( 118 ) Results relating to equity-accounted investees ( 1 ) ( 2 ) Net income (loss) 644 623 Less: Net income (loss) attributable to non-controlling interests 5 8 Net income (loss) attributable to stockholders 639 615 Earnings per share data: Net income (loss) per common share attributable to stockholders in $ Basic 2.49 2.37 Diluted 2.47 2.35 Weighted average number of shares of common stock outstanding during the period (in thousands): Basic 256,567 259,576 Diluted 258,954 261,210 See accompanying notes to the Condensed Consolidated Financial Statements 3 CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) ($ in millions, unless otherwise stated) For the three months ended March 31, 2024 April 2, 2023 Net income (loss) 644 623 Other comprehensive income (loss), net of tax: Change in fair value cash flow hedges ( 8 ) 3 Change in foreign currency translation adjustment ( 38 ) 19 Total other comprehensive income (loss) ( 46 ) 22 Total comprehensive income (loss) 598 645 Less: Comprehensive income (loss) attributable to non-controlling interests 5 8 Total comprehensive income (loss) attributable to stockholders 593 637 See accompanying notes to the Condensed Consolidated Financial State

View Full Filing

View this 10-Q filing on SEC EDGAR