NXP Semiconductors Files Q2 2024 10-Q

TL;DR

NXPI Q2 10-Q filed. Financials updated.

AI Summary

NXP Semiconductors N.V. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter of 2024 and provides financial updates. Specific financial figures and operational details for the quarter are detailed within the report.

Why It Matters

This filing provides investors with the latest financial performance and operational status of NXP Semiconductors, crucial for understanding the company's trajectory in the semiconductor market.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Numbers

• 2024 Q2 — Reporting Period (Covers the second quarter of 2024.)

Key Players & Entities

• NXP Semiconductors N.V. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240723 (date) — Filing date

FAQ

Filing Documents

• nxpi-20240630.htm (10-Q) — 1221KB
• nxpi-20240630_g1.jpg (GRAPHIC) — 26KB
• nxpi-20240630_g10.jpg (GRAPHIC) — 33KB
• nxpi-20240630_g2.jpg (GRAPHIC) — 33KB
• nxpi-20240630_g3.jpg (GRAPHIC) — 32KB
• nxpi-20240630_g4.jpg (GRAPHIC) — 34KB
• nxpi-20240630_g5.jpg (GRAPHIC) — 32KB
• nxpi-20240630_g6.jpg (GRAPHIC) — 27KB
• nxpi-20240630_g7.jpg (GRAPHIC) — 33KB
• nxpi-20240630_g8.jpg (GRAPHIC) — 33KB
• nxpi-20240630_g9.jpg (GRAPHIC) — 28KB
• 0001413447-24-000072.txt ( ) — 6904KB
• nxpi-20240630.xsd (EX-101.SCH) — 40KB
• nxpi-20240630_cal.xml (EX-101.CAL) — 77KB
• nxpi-20240630_def.xml (EX-101.DEF) — 148KB
• nxpi-20240630_lab.xml (EX-101.LAB) — 541KB
• nxpi-20240630_pre.xml (EX-101.PRE) — 372KB
• nxpi-20240630_htm.xml (XML) — 804KB

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 30 Item 4.

Controls and Procedures

Controls and Procedures 30 Part II Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 5. Other Information 31 Item 6. Exhibits 32 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 For the six months ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Revenue 3,127 3,299 6,253 6,420 Cost of revenue ( 1,335 ) ( 1,418 ) ( 2,678 ) ( 2,769 ) Gross profit 1,792 1,881 3,575 3,651 Research and development ( 594 ) ( 589 ) ( 1,158 ) ( 1,166 ) Selling, general and administrative ( 270 ) ( 274 ) ( 576 ) ( 554 ) Amortization of acquisition-related intangible assets ( 28 ) ( 81 ) ( 79 ) ( 166 ) Total operating expenses ( 892 ) ( 944 ) ( 1,813 ) ( 1,886 ) Other income (expense) ( 4 ) — ( 10 ) ( 3 ) Operating income (loss) 896 937 1,752 1,762 Financial income (expense): Extinguishment of debt — — — — Other financial income (expense) ( 75 ) ( 74 ) ( 145 ) ( 156 ) Income (loss) before income taxes 821 863 1,607 1,606 Benefit (provision) for income taxes ( 154 ) ( 158 ) ( 295 ) ( 276 ) Results relating to equity-accounted investees ( 3 ) ( 1 ) ( 4 ) ( 3 ) Net income (loss) 664 704 1,308 1,327 Less: Net income (loss) attributable to non-controlling interests 6 6 11 14 Net income (loss) attributable to stockholders 658 698 1,297 1,313 Earnings per share data: Net income (loss) per common share attributable to stockholders in $ Basic 2.58 2.69 5.07 5.06 Diluted 2.54 2.67 5.01 5.03 Weighted average number of shares of common stock outstanding during the period (in thousands): Basic 255,478 259,160 256,023 259,369 Diluted 258,732 261,303 258,963 261,278 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 For the six months ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Net income (loss) 664 704 1,308 1,327 Other comprehensive income (loss), net of tax: Change in fair value cash flow hedg

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View this 10-Q filing on SEC EDGAR