NXP Semiconductors Reports Second Quarter 2013 Results

                                                                            
                                                                            
NXP Semiconductors                                                          
Table 1: Condensed consolidated statement of operations (unaudited)         
                                                                            
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($ in millions except share                                                 
 data)                                     Three Months Ended               
                             ---------------------------------------------- 
                              June 30, 2013  March 31, 2013   July 1, 2012  
                             --------------  --------------  -------------- 
                                                                            
Revenue                      $        1,188  $        1,085  $        1,094 
                                                                            
Cost of revenue                        (653)           (602)           (556)
                             --------------  --------------  -------------- 
                                                                            
Gross profit                            535             483             538 
                                                                            
Research and development               (155)           (153)           (156)
Selling, general and                                                        
 administrative                        (211)           (222)           (231)
                             --------------  --------------  -------------- 
Total operating expenses               (366)           (375)           (387)
                                                                            
Other income (expense)                    1               7                           5  
                                                          --------------    --------------    --------------  
                                                                                                                                                        
Operating  income  (loss)                                  170                          115                          156  
                                                                                                                                                        
Financial  income  (expense):                                                                                                  
    Interest  income  (expense)                                                                                                  
      -  net                                                                (47)                        (49)                        (70)
    Foreign  exchange  gain                                                                                                          
      (loss)                                                                32                          (53)                      (104)
    Gain  (loss)  on                                                                                                                        
      extinguishment  of  long                                                                                                      
      term  debt                                                        (23)                        (37)                            -  
    Other  financial  expense                                (8)                        (13)                          (4)
                                                          --------------    --------------    --------------  
                                                                                                                                                        
Income  (loss)  before  taxes                            124                          (37)                        (22)
                                                                                                                                                        
Benefit  (provision)  for                                                                                                          
  income  taxes                                                          2                          (11)                          (7)
Results  relating  to  equity-                                                                                                  
  accounted  investees                                            3                            47                          (45)
                                                          --------------    --------------    --------------  
                                                                                                                                                        
Income  (loss)  from                                                                                                                    
  continuing  operations                                    129                            (1)                        (74)
Income  (loss)  on                                                                                                                        
  discontinued  operations,                                                                                                      
  net  of  tax                                                              -                              -                              -  
                                                          --------------    --------------    --------------  
Net  income  (loss)                                              129                            (1)                        (74)
Net  (income)  loss                                                                                                                      
  attributable  to  non-                                                                                                              
  controlling  interests                                    (18)                        (13)                        (16)
                                                          --------------    --------------    --------------  
Net  income  (loss)                                                                                                                      
  attributable  to                                                                                                                        
  stockholders                                                      111                          (14)                        (90)
                                                                                                                                                        
Earnings  per  share  data:                                                                                                        
Net  income  (loss)                                                                                                                      
  attributable  to                                                                                                                        
  stockholders  per  common                                                                                                        
  share                                                                                                                                            
                                                                                                                                                        
Basic  earnings  per  common                                                                                                      
  share  in  $                                    $                  0.44    $                (0.06)  $                (0.36)
Diluted  earnings  per  common                                                                                                  
  share  in  $                                    $                  0.43    $                (0.06)  $                (0.36)
                                                                                                                                                        
Weighted  average  number  of                                                                                                    
  shares  of  common  stock  (in                                                                                                  
  thousands):                                                                                                                                
Basic                                                              249,449                  249,668                  248,272  
Diluted                                                          255,265                  249,668                  248,272  
                                                                                                                                                        
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NXP  Semiconductors                                                                                                                    
Table  2:  Condensed  consolidated  balance  sheet  (unaudited)                                      
                                                                                                                                                        
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($  in  millions)                                                                        As  of                                        
                                                            ----------------------------------------------
                                                              June  30,  2013    March  31,  2013      July  1,  2012  
                                                            --------------    --------------    --------------
                                                                                                                                                        
Current  assets:                                                                                                                          
    Cash  and  cash  equivalents      $                    569    $                    595    $                    837
    Accounts  receivable  -  net                            495                          464                          451
    Other  receivables                                              49                            48                            16
    Assets  held  for  sale                                        10                            10                            17
    Inventories                                                        742                          730                          644
    Other  current  assets                                      132                          109                            96
                                                            --------------    --------------    --------------
Total  current  assets                                      1,997                      1,956                      2,061
                                                                                                                                                        
Non-current  assets:                                                                                                                  
    Investments  in  equity-                                                                                                        
      accounted  investees                                        47                            46                            39
    Other  non-current  assets                              128                          131                          145
    Property,  plant  and                                                                                                              
      equipment                                                      1,030                      1,039                      1,044
    Identified  intangible                                                                                                          
      assets                                                                841                          888                      1,061
    Goodwill                                                          2,253                      2,221                      2,186
                                                            --------------    --------------    --------------
Total  non-current  assets                              4,299                      4,325                      4,475
                                                                                                                                                        
Total  assets                                                      6,296                      6,281                      6,536
                                                                                                                                                        
Current  liabilities:                                                                                                                
    Accounts  payable                                              521                          513                          524
    Liabilities  held  for  sale                                -                              -                              5
    Accrued  liabilities                                        610                          599                          524
    Short-term  debt                                                  50                          291                            52
                                                            --------------    --------------    --------------
Total  current  liabilities                            1,181                      1,403                      1,105
                                                                                                                                                        
Non-current  liabilities:                                                                                                        
    Long-term  debt                                              3,331                      3,149                      3,767
    Other  non-current                                                                                                                  
      liabilities                                                      451                          454                          447
                                                            --------------    --------------    --------------
Total  non-current                                                                                                                      
  liabilities                                                      3,782                      3,603                      4,214
                                                                                                                                                        
Non-controlling  interests                                219                          248                          201
Stockholders'  equity                                      1,114                      1,027                      1,016
                                                            --------------    --------------    --------------
Total  equity                                                      1,333                      1,275                      1,217
                                                                                                                                                        
Total  liabilities  and  equity                      6,296                      6,281                      6,536
                                                                                                                                                        
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NXP  Semiconductors                                                                                                                    
Table  3:  Condensed  consolidated  statement  of  cash  flows  (unaudited)                  
                                                                                                                                                        
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($  in  millions)                                                        Three  Months  Ended                              
                                                          ----------------------------------------------  
                                                            June  30,  2013    March  31,  2013      July  1,  2012    
                                                          --------------    --------------    --------------  
                                                                                                                                                        
Cash  Flows  from  operating                                                                                                      
  activities                                                                                                                                  
Net  income  (loss)                        $                    129    $                      (1)  $                    (74)
Adjustments  to  reconcile  net                                                                                                
  income  (loss):                                                                                                                          
    Depreciation  and                                                                                                                    
      amortization                                                  132                          132                          139  
    Stock-based  compensation                              20                            17                            15  
    Net  (gain)  loss  on  sale  of                                                                                                
      assets                                                                (1)                          (1)                            -  
    (Gain)  loss  on                                                                                                                        
      extinguishment  of  debt                                23                            37                              -  
    Results  relating  to  equity                                                                                                
      accounted  investees                                      (3)                        (47)                          45  
Changes  in  operating  assets                                                                                                  
  and  liabilities:                                                                                                                      
    (Increase)  decrease  in                                                                                                        
      trade  receivables                                        (26)                        (15)                        (57)
    (Increase)  decrease  in                                                                                                        
      inventories                                                    (10)                        (20)                        (12)
    Increase  (decrease)  in                                                                                                        
      trade  payables                                                  6                          (44)                          71  
    (Increase)  decrease  in                                                                                                        
      other  receivables                                          (4)                          (8)                          18  
    Increase  (decrease)  in                                                                                                        
      other  payables                                              (78)                          17                            18  
    Changes  in  deferred  taxes                              1                              1                            (5)
Exchange  differences                                        (32)                          53                          104  
Other  items                                                              3                            (2)                            7  
                                                          --------------    --------------    --------------  
Net  cash  provided  by  (used                                                                                                    
  for)  operating  activities                            160                          119                          269  
                                                                                                                                                        
Cash  flows  from  investing                                                                                                      
  activities:                                                                                                                                
    Purchase  of  identified                                                                                                        
      intangible  assets                                        (11)                          (6)                          (7)
    Capital  expenditures  on                                                                                                      
      property,  plant  and                                                                                                            
      equipment                                                        (49)                        (41)                        (74)
    Proceeds  from  disposals  of                                                                                                
      property,  plant  and                                                                                                            
      equipment                                                            3                              2                              1  
    Proceeds  from  sale  of                                                                                                          
      interests  in  businesses                                -                              -                              -  
    Purchase  of  interests  in                                                                                                    
      businesses                                                          -                              -                            (2)
    Proceeds  from  return  of                                                                                                      
      equity  investment                                            1                              -                              -  
    Other                                                                      -                              2                              -  
                                                          --------------    --------------    --------------  
Net  cash  (used  for)  provided                                                                                                
  by  investing  activities                                (56)                        (43)                        (82)
                                                                                                                                                        
Cash  flows  from  financing                                                                                                      
  activities:                                                                                                                                
    Net  (repayments)                                                                                                                    
      borrowings  of  short-term                                                                                                  
      debt                                                                    (1)                          (1)                            1  
    Repayments  under  the                                                                                                            
      revolving  credit  facility                      (155)                      (280)                      (330)
    Amounts  drawn  under  the                                                                                                      
      revolving  credit  facility                        200                          180                          330  
    Repurchase  of  long-term                                                                                                      
      debt                                                                (874)                      (980)                            -  
    Principal  payments  on                                                                                                          
      long-term  debt                                                (5)                          (4)                          (5)
    Net  proceeds  from  the                                                                                                          
      issuance  of  long-term                                                                                                        
      debt                                                                  742                          990                              1  
    Dividends  paid  to  non-                                                                                                        
      controlling  interests                                    -                              -                          (39)
    Cash  proceeds  from                                                                                                                
      exercise  of  stock  options                          10                            40                              -  
    Purchase  of  treasury                                                                                                            
      shares                                                              (48)                        (35)                        (37)
                                                          --------------    --------------    --------------  
Net  cash  provided  by  (used                                                                                                    
  for)  financing  activities                          (131)                        (90)                        (79)
                                                                                                                                                        
Net  cash  provided  by  (used                                                                                                    
  for)  continuing  operations                          (27)                        (14)                        108  
                                                                                                                                                        
Cash  flows  from  discontinued                                                                                                
  operations:                                                                                                                                
    Net  cash  provided  by  (used                                                                                                
      for)  operating  activities                            -                              -                              -  
    Net  cash  provided  by  (used                                                                                                
      for)  investing  activities                            -                              -                          (45)
    Net  cash  provided  by  (used                                                                                                
      for)  financing  activities                            -                              -                              -  
                                                          --------------    --------------    --------------  
Net  cash  provided  by  (used                                                                                                    
  for)  discontinued                                                                                                                    
  operations                                                              -                              -                          (45)
                                                                                                                                                        
Net  cash  from  continuing  and                                                                                                
  discontinued  operations                                (27)                        (14)                          63  
                                                                                                                                                        
Effect  of  changes  in                                                                                                                
  exchange  rates  on  cash                                                                                                          
  positions                                                                1                            (8)                          (8)
                                                          --------------    --------------    --------------  
Increase  (decrease)  in  cash                                                                                                  
  and  cash  equivalents                                      (26)                        (22)                          55  
Cash  and  cash  equivalents  at                                                                                                
  beginning  of  period                                        595                          617                          782  
                                                          --------------    --------------    --------------  
Cash  and  cash  equivalents  at                                                                                                
  end  of  period                                                    569                          595                          837  
                                                                                                                                                        
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NXP  Semiconductors                                                                                                                    
Table  4:  Reconciliation  of  GAAP  to  non-GAAP  Segment  Results  (unaudited)          
                                                                                                                                                        
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($  in  millions)                                                        Three  Months  Ended                              
                                                          ----------------------------------------------  
                                                            June  30,  2013    March  31,  2013      July  31,  2012  
                                                          --------------    --------------    --------------  
                                                                                                                                                        
High  Performance  Mixed                                                                                                            
  Signal  (HPMS)                                                    878                          776                          741  
Standard  Products                                              281                          279                          291  
                                                          --------------    --------------    --------------  
    Product  Revenue                                          1,159                      1,055                      1,032  
        Manufacturing  Operations                          29                            29                            62  
        Corporate  and  Other                                      -                              1                              -  
                                                          --------------    --------------    --------------  
Total  Revenue                                $                1,188    $                1,085    $                1,094  
                                                          ==============    ==============    ==============  
                                                                                                                                                        
---------------------------------------------------------------------------  
                                                                                                                                                        
HPMS  Revenue                                  $                    878    $                    776    $                    741  
    Percent  of  Total  Revenue                          73.9%                      71.5%                      67.7%
    HPMS  segment  GAAP  gross                                                                                                      
      profit                                                              472                          417                          449  
        PPA  effects                                                      -                              -                            (6)
        Restructuring                                                  3                            (1)                            -  
        Stock  based  compensation                          (2)                          (1)                            -  
        Other  incidentals                                        (1)                            -                            (2)
        Other  adjustments                                          -                          (46)                          46  
                                                          --------------    --------------    --------------  
    HPMS  segment  non-GAAP                                                                                                          
      gross  profit                            $                    472    $                    465    $                    411  
                                                          ==============    ==============    ==============  
                                                                                                                                                        
        HPMS  segment  GAAP  gross                                                                                                  
          margin                                                        53.8%                      53.7%                      60.6%
        HPMS  segment  non-GAAP                                                                                                      
          gross  margin                                            53.8%                      59.9%                      55.5%
                                                                                                                                                        
    HPMS  segment  GAAP                                                                                                                  
      operating  profit                                          178                          123                          154  
        PPA  effects                                                  (45)                        (46)                        (52)
        Restructuring                                                  3                            (1)                            1  
        Stock  based  compensation                        (16)                        (12)                          (9)
        Other  incidentals                                        (2)                          (1)                          (9)
        Other  adjustments                                          -                          (46)                          46  
                                                          --------------    --------------    --------------  
    HPMS  segment  non-GAAP                                                                                                          
      operating  profit                    $                    238    $                    229    $                    177  
                                                          ==============    ==============    ==============  
                                                                                                                                                        
        HPMS  segment  GAAP                                                                                                              
          operating  margin                                    20.3%                      15.9%                      20.8%
        HPMS  segment  non-GAAP                                                                                                      
          operating  margin                                    27.1%                      29.5%                      23.9%
                                                                                                                                                        
                                                                                                                                                        
---------------------------------------------------------------------------  
                                                                                                                                                        
Standard  Products  Revenue        $                    281    $                    279    $                    291  
    Percent  of  Total  Revenue                          23.7%                      25.7%                      26.6%
    Standard  Products  segment                                                                                                  
      GAAP  gross  profit                                          68                            70                            88  
        PPA  effects                                                      -                            (1)                          (1)
        Restructuring                                                  5                            (1)                          (1)
        Stock  based  compensation                          (1)                            -                              -  
        Other  incidentals                                        (3)                          (1)                                
                                                          --------------    --------------    --------------  
    Standard  Products  segment                                                                                                  
      non-GAAP  gross  profit          $                      67    $                      73    $                      90  
                                                          ==============    ==============    ==============  
                                                                                                                                                        
        Standard  Products                                                                                                              
          segment  GAAP  gross                                                                                                          
          margin                                                        24.2%                      25.1%                      30.2%
        Standard  Products                                                                                                              
          segment  non-GAAP  gross                                                                                                  
          margin                                                        23.8%                      26.2%                      30.9%
                                                                                                                                                        
    Standard  Products  segment                                                                                                  
      GAAP  operating  profit                                    9                              7                            26  
        PPA  effects                                                  (15)                        (15)                        (15)
        Restructuring                                                  5                            (1)                            -  
        Stock  based  compensation                          (4)                          (4)                          (3)
        Other  incidentals                                        (3)                          (1)                          (1)
                                                          --------------    --------------    --------------  
    Standard  Products  segment                                                                                                  
      non-GAAP  operating  profit  $                      26    $                      28    $                      45  
                                                          ==============    ==============    ==============  
                                                                                                                                                        
        Standard  Products                                                                                                              
          segment  GAAP  operating                                                                                                  
          margin                                                          3.2%                        2.5%                        8.9%
        Standard  Products                                                                                                              
          segment  non-GAAP                                                                                                              
          operating  margin                                      9.3%                      10.0%                      15.5%
                                                                                                                                                        
                                                                                                                                                        
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NXP  Semiconductors                                                                                                                    
Table  4:  Reconciliation  of  GAAP  to  non-GAAP  Segment  Results  (unaudited)          
(con't)                                                                                                                                          
                                                                                                                                                        
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($  in  millions)                                                        Three  Months  Ended                              
                                                          ----------------------------------------------  
                                                            June  30,  2013    March  31,  2013      July  1,  2012    
                                                          --------------    --------------    --------------  
Manufacturing  Operations                                                                                                        
  Revenue                                          $                      29    $                      29    $                      62  
    Percent  of  Total  Revenue                            2.4%                        2.7%                        5.7%
    Manufacturing  Operations                                                                                                    
      segment  GAAP  gross  profit                          (6)                          (5)                          (3)
        PPA  effects                                                    (3)                          (2)                          (2)
        Restructuring                                                (2)                            -                              -  
        Stock  based  compensation                            -                              -                              -  
        Other  incidentals                                        (1)                          (1)                          (1)
                                                          --------------    --------------    --------------  
    Manufacturing  Operations                                                                                                    
      segment  non-GAAP  gross                                                                                                      
      profit                                        $                        -    $                      (2)  $                        -  
                                                          ==============    ==============    ==============  
                                                                                                                                                        
        Manufacturing  Operations                                                                                                
          segment  GAAP  gross                                                                                                          
          margin                                                      -20.7%                    -17.2%                      -4.8%
        Manufacturing  Operations                                                                                                
          segment  non-GAAP  gross                                                                                                  
          margin                                                          0.0%                      -6.9%                        0.0%
                                                                                                                                                        
    Manufacturing  Operations                                                                                                    
      segment  GAAP  operating                                                                                                      
      profit                                                              (10)                          (7)                          (5)
        PPA  effects                                                    (6)                          (6)                          (6)
        Restructuring                                                (2)                            -                              -  
        Stock  based  compensation                            -                              -                              -  
        Other  incidentals                                        (1)                          (1)                            2  
                                                          --------------    --------------    --------------  
    Manufacturing  Operations                                                                                                    
      segment  non-GAAP                                                                                                                  
      operating  profit                    $                      (1)  $                        -    $                      (1)
                                                          ==============    ==============    ==============  
                                                                                                                                                        
        Manufacturing  Operations                                                                                                
          segment  GAAP  operating                                                                                                  
          margin                                                      -34.5%                    -24.1%                      -8.1%
        Manufacturing  Operations                                                                                                
          segment  non-GAAP                                                                                                              
          operating  margin                                    -3.4%                        0.0%                      -1.6%
                                                                                                                                                        
                                                                                                                                                        
---------------------------------------------------------------------------  
                                                                                                                                                        
Corporate  and  Other  Revenue    $                        -    $                        1    $                        -  
    Percent  of  Total  Revenue                            0.0%                        0.1%                        0.0%
    Corporate  and  Other                                                                                                              
      segment  GAAP  gross  profit                            1                              1                              4  
        PPA  effects                                                      -                              -                              -  
        Restructuring                                                  -                              -                              -  
        Stock  based  compensation                            -                              -                              -  
        Other  incidentals                                          -                              -                              -  
                                                          --------------    --------------    --------------  
    Corporate  and  Other                                                                                                              
      segment  non-GAAP  gross                                                                                                      
      profit                                        $                        1    $                        1    $                        4  
                                                          ==============    ==============    ==============  
                                                                                                                                                        
    Corporate  and  Other                                                                                                              
      segment  GAAP  gross  margin                          NM                            NM                            NM  
    Corporate  and  Other                                                                                                              
      segment  non-GAAP  gross                                                                                                      
      margin                                                                NM                            NM                            NM  
                                                                                                                                                        
    Corporate  and  Other                                                                                                              
      segment  GAAP  operating                                                                                                      
      profit                                                                (7)                          (8)                        (19)
        PPA  effects                                                      -                              -                              -  
        Restructuring                                                  4                            (2)                          (2)
        Stock  based  compensation                            -                            (1)                          (3)
        Other  incidentals                                        (4)                          (3)                          (8)
                                                          --------------    --------------    --------------  
    Corporate  and  Other                                                                                                              
      segment  non-GAAP                                                                                                                  
      operating  profit                    $                      (7)  $                      (2)  $                      (6)
                                                          ==============    ==============    ==============  
                                                                                                                                                        
    Corporate  and  Other                                                                                                              
      segment  GAAP  operating                                                                                                      
      margin                                                                NM                            NM                            NM  
    Corporate  and  Other                                                                                                              
      segment  non-GAAP                                                                                                                  
      operating  margin                                            NM                            NM                            NM  
                                                                                                                                                        
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NXP  Semiconductors                                                                                                                    
Table  5:  Financial  Reconciliation  of  GAAP  to  non-GAAP  Results  (unaudited)      
                                                                                                                                                        
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($  in  millions  except                                                                                                              
  share  data)                                                            Three  Months  Ended                                
                                                    -------------------------------------------------  
                                                      June  30,  2013          March  31,  2013      July  1,  2012    
                                                    --------------          --------------    --------------  
                                                                                                                                                        
Revenue                                      $                1,188          $                1,085    $                1,094  
                                                                                                                                                        
GAAP  Gross  profit                  $                    535          $                    483    $                    538  
    PPA  effects                                                  (3)                                (3)                          (9)
    Restructuring                                                6                                  (2)                          (1)
    Stock  Based                                                                                                                              
      Compensation                                              (3)                                (1)                            -  
    Other  incidentals                                      (5)                                (2)                          (3)
    Other  adjustments                                        -                                (46)                          46  
                                                    --------------          --------------    --------------  
Non-GAAP  Gross  profit          $                    540          $                    537    $                    505  
                                                    ==============          ==============    ==============  
                                                                                                                                                        
GAAP  Gross  margin                                      45.0%                            44.5%                      49.2%
                                                                                                                                                        
Non-GAAP  Gross  margin                              45.5%                            49.5%                      46.2%
                                                                                                                                                        
    GAAP  Research  and                                                                                                                  
      development                        $                  (155)        $                  (153)  $                  (156)
        PPA  effects                                                -                                    -                              -  
        Restructuring                                            -                                    -                              1  
        Stock  based                                                                                                                          
          compensation                                          (2)                                (3)                          (1)
        Other  incidentals                                  (1)                                (1)                          (6)
                                                    --------------          --------------    --------------  
    Non-GAAP  Research  and                                                                                                          
      development                        $                  (152)        $                  (149)  $                  (150)
                                                    ==============          ==============    ==============  
                                                                                                                                                        
    GAAP  Selling,  general                                                                                                          
      and  administrative          $                  (211)        $                  (222)  $                  (231)
        PPA  effects                                            (63)                              (64)                        (64)
        Restructuring                                            4                                  (2)                          (2)
        Stock  based                                                                                                                          
          compensation                                        (15)                              (13)                        (14)
        Other  incidentals                                  (4)                                (3)                          (9)
                                                    --------------          --------------    --------------  
    Non-GAAP  Selling,                                                                                                                  
      general  and                                                                                                                            
      administrative                  $                  (133)        $                  (140)  $                  (142)
                                                    ==============          ==============    ==============  
                                                                                                                                                        
    GAAP  Other  income                                                                                                                  
      (expense)                            $                        1          $                        7    $                        5  
        PPA  effects                                                -                                    -                              -  
        Restructuring                                            -                                    -                              1  
        Other  incidentals                                    -                                    -                              2  
                                                    --------------          --------------    --------------  
    Non-GAAP  Other  income                                                                                                          
      (expense)                            $                        1          $                        7    $                        2  
                                                    ==============          ==============    ==============  
                                                                                                                                                        
GAAP  Operating  income                                                                                                              
  (loss)                                      $                    170          $                    115    $                    156  
    PPA  effects                                                (66)                              (67)                        (73)
    Restructuring                                              10                                  (4)                          (1)
    Stock  based                                                                                                                              
      compensation                                            (20)                              (17)                        (15)
    Other  incidentals                                    (10)                                (6)                        (16)
    Other  adjustments                                        -                                (46)                          46  
                                                    --------------          --------------    --------------  
Non-GAAP  Operating  income                                                                                                      
  (loss)                                      $                    256          $                    255    $                    215  
                                                    ==============          ==============    ==============  
                                                                                                                                                        
GAAP  Operating  margin                              14.3%                            10.6%                      14.3%
                                                                                                                                                        
Non-GAAP  Operating  margin                      21.5%                            23.5%                      19.7%
                                                                                                                                                        
GAAP  Financial  income                                                                                                              
  (expense)                                $                    (46)        $                  (152)  $                  (178)
    Foreign  exchange  gain                                                                                                          
      (loss)  on  debt                                          32                                (53)                      (104)
    Gain  (loss)  on                                                                                                                        
      extinguishment  of  long                                                                                                      
      term  debt                                                  (23)                              (37)                            -  
    Other  financial  expense                          (8)                              (13)                          (4)
                                                    --------------          --------------    --------------  
Non-GAAP  Financial  income                                                                                                      
  (expense)                                $                    (47)        $                    (49)  $                    (70)
                                                    ==============          ==============    ==============  
                                                                                                                                                        
GAAP  Income  tax  benefit                                                                                                          
  (provision)                            $                        2          $                    (11)  $                      (7)
    Other  adjustments                                      11                                  (4)                          (2)
                                                    --------------          --------------    --------------  
Non-GAAP  Cash  tax                                                                                                                      
  (expense)                                $                      (9)        $                      (7)  $                      (5)
                                                    ==============          ==============    ==============  
                                                                                                                                                        
GAAP  Results  relating  to                                                                                                        
  equity-accounted                                                                                                                      
  investees                                $                        3          $                      47    $                    (45)
    Other  adjustments                                        3                                  47                          (45)
Non-GAAP  Results  relating                                                                                                      
  to  equity-accounted                                                                                                                
  investees                                $                        -          $                        -    $                        -  
                                                                                                                                                        
GAAP  Income  (loss)  from                                                                                                          
  continuing  operations        $                    129          $                      (1)  $                    (74)
    PPA  effects                                                (66)                              (67)                        (73)
    Restructuring                                              10                                  (4)                          (1)
    Stock  based                                                                                                                              
      compensation                                            (20)                              (17)                        (15)
    Other  incidentals                                    (10)                                (6)                        (16)
    Other  adjustments                                      15    1)                      (106)                      (109)
                                                    --------------          --------------    --------------  
Non-GAAP  Income  (loss)                                                                                                            
  from  continuing                                                                                                                        
  operations                              $                    200          $                    199    $                    140  
                                                    ==============          ==============    ==============  
                                                                                                                                                        
GAAP  Income  (loss)  on                                                                                                              
  discontinued  operations                                                                                                        
  -  net  of  tax                          $                        -          $                        -    $                        -  
    Other  adjustments              $                        -                                    -                              -  
Non-GAAP  Income  (loss)                                                                                                            
  from  discontinued                                                                                                                    
  operations                              $                        -          $                        -    $                        -  
                                                                                                                                                        
GAAP  Net  income  (loss)                                                                                                            
  attributable  to                                                                                                                        
  stockholders                          $                    111          $                    (14)  $                    (90)
    PPA  effects                                                (66)                              (67)                        (73)
    Restructuring                                              10                                  (4)                          (1)
    Stock  based                                                                                                                              
      compensation                                            (20)                              (17)                        (15)
    Other  incidentals                                    (10)                                (6)                        (16)
    Other  adjustments                                      15                              (106)                      (109)
                                                    --------------          --------------    --------------  
Non-GAAP  Net  income                                                                                                                  
  (loss)  attributable  to                                                                                                          
  stockholders                          $                    182          $                    186    $                    124  
                                                    ==============          ==============    ==============  
                                                                                                                                                        
GAAP  Weighted  average                                                                                                              
  shares  -  diluted                                255,265                        249,668                  248,272  
    Non-GAAP  Adjustment                                    -                            8,157                      5,115  
                                                    --------------          --------------    --------------  
Non-GAAP  Weighted  average                                                                                                      
  shares  -  diluted                                255,265                        257,825                  253,387  
                                                    ==============          ==============    ==============  
                                                                                                                                                        
GAAP  Diluted  net  income                                                                                                          
  (loss)  attributable  to                                                                                                          
  stockholders  per  share      $                  0.43          $                (0.06)  $                (0.36)
Non-GAAP  Diluted  net                                                                                                                
  income  (loss)                                                                                                                            
  attributable  to                                                                                                                        
  stockholders  per  share      $                  0.71          $                  0.72    $                  0.49  
                                                                                                                                                        
---------------------------------------------------------------------------  
                                                                                                                                                        
                                                                                                                                                        
1)  Includes:  During  2Q13:  Foreign  exchange  gain  on  debt:  $32  million;  Loss    
  on  extinguishment  of  long-term  debt:  ($23)  million;  Other  financial                
  expense:  ($8)  million;  Results  relating  to  equity-accounted  investees:  $3    
  million;  and  difference  between  book  and  cash  income  taxes:  $11  million.      
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
NXP  Semiconductors                                                                                                                    
Table  6:  Adjusted  EBITDA  (unaudited)                                                                                
                                                                                                                                                        
---------------------------------------------------------------------------  
                                                                                                                                                        
                                                                                                                                                        
($  in  millions)                                                        Three  Months  Ended                              
                                                          ----------------------------------------------  
                                                            June  30,  2013    March  31,  2013      July  1,  2012    
                                                          --------------    --------------    --------------  
                                                                                                                                                        
                                                          --------------    --------------    --------------  
Net  Income                                      $                    129    $                      (1)  $                    (74)
                                                          ==============    ==============    ==============  
                                                                                                                                                        
Reconciling  items  to  EBITDA                                                                                                  
    Financial  (income)  expense                          46                          152                          178  
    (Benefit)  provision  for                                                                                                      
      income  taxes                                                    (2)                          11                              7  
    Depreciation                                                      61                            61                            62  
    Amortization                                                      71                            71                            77  
                                                          --------------    --------------    --------------  
EBITDA                                              $                    305    $                    294    $                    250  
                                                          ==============    ==============    ==============  
                                                                                                                                                        
Reconciling  items  to                                                                                                                
  adjusted  EBITDA                                                                                                                        
    Results  of  equity-                                                                                                                
      accounted  investees                                      (3)                        (47)                          45  
    Restructuring  1)                                            (11)                            4                              1  
    Stock  based  compensation                              20                            17                            15  
    Other  incidental  items  1)                              9                              5                            15  
    Other  adjustments                                              -                            46                          (46)
                                                          --------------    --------------    --------------  
Adjusted  EBITDA                            $                    320    $                    319    $                    280  
                                                          ==============    ==============    ==============  
                                                                                                                                                        
Trailing  twelve  month                                                                                                              
  adjusted  EBITDA                          $                1,235    $                1,195    $                1,007  
                                                                                                                                                        
---------------------------------------------------------------------------  
                                                                                                                                                        
    1)  Excluding  depreciation                                                                                                  
      property,  plant  and                                                                                                            
      equipment  related  to:                                                                                                        
                                                                                                                                                        
        Restructuring                                                  1                              -                              -  
        Other  incidental  items                                1                              1                              1  
                                                                                                                                                        
                                                                                                                                                        
 




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