Non-GAAP Financial Measures
Included within this press release and the accompanying tables and notes are non-GAAP financial measures that supplement the company's consolidated financial information prepared under GAAP. The company describes these non-GAAP financial measures and reconciles them to the most directly comparable GAAP measures in the tables and notes attached to this press release. The company's management believes that these non-GAAP measures provide a more meaningful representation of the company’s ongoing financial performance. In addition, the company uses Adjusted EBITDA to measure compliance with certain of its debt covenants. These non-GAAP measures are included solely for informational and comparative purposes and are not meant as a substitute for GAAP. You should consider them together with the consolidated financial information located in the tables attached to this press release.
About Freescale Semiconductor
Freescale Semiconductor is a global leader in the design and manufacture of embedded semiconductors for the automotive, consumer, industrial and networking markets. The privately held company is based in Austin, Texas, and has design, research and development, manufacturing or sales operations around the world. www.freescale.com.
Freescale and the Freescale logo are trademarks of Freescale Semiconductor Inc. All other product or service names are the property of their respective owners. © Freescale Semiconductor Inc. 2010.
|Freescale Semiconductor Holdings I, Ltd.|
|Condensed Consolidated Statements of Operations|
|Three Months Ended||Twelve Months Ended|
|(in millions)||December 31,||October 2,||December 31,||December 31,||December 31,|
|Net sales||$ 951||$ 893||$ 940||$ 3,508||$ 5,226|
|Cost of sales||642||626||680||2,563||3,154|
|Selling, general and administrative||117||122||166||499||673|
|Research and development||185||193||276||833||1,140|
|Amortization expense for acquired intangible assets||120||122||225||486||1,042|
|Reorganization of businesses, contract settlement and other||148||91||141||345||53|
|Impairment of goodwill and intangible assets||-||-||3,613||-||6,981|
|Gain on extinguishment of long-term debt||7||4||63||2,296||79|
|Other expense, net||(131)||(142)||(208)||(576)||(733)|
|Income (loss) before income taxes||(385)||(399)||(4,310)||502||(8,482)|
|Income tax expense (benefit)||(271)||11||(281)||(246)||(543)|
|Net income (loss)||$ (114)||$ (410)||$ (4,029)||$ 748||$ (7,939)|