STMicroelectronics Reports 2012 First Quarter Financial Results

                                                                                                                     
(Attachment A – continued)
 

Net financial position: resources (debt), represents the balance between our total financial resources and our total financial debt. Our total financial resources include cash and cash equivalents, current and non-current marketable securities, short-term deposits and restricted cash, and our total financial debt includes bank overdrafts, if any, short-term borrowings, current portion of long-term debt and long-term debt, all as reported in our consolidated balance sheet. We believe our net financial position provides useful information for investors because it gives evidence of our global position either in terms of net indebtedness or net cash position by measuring our capital resources based on cash, cash equivalents and marketable securities and the total level of our financial indebtedness. Net financial position is not a U.S. GAAP measure.

 

Net Financial Position (in US$ millions)

  March 31, 2012

  December 31,
2011

  April 2, 2011

Cash and cash equivalents

2,059

1,912

1,928

Marketable securities, current

154

413

719

Short-term deposits

-

-

71

Restricted cash

3

3

92

Non-current restricted cash

4

5

-

Marketable securities, non-current

-

-

77

Total financial resources

2,220

2,333

2,887

Bank overdrafts, short-term borrowings and current portion of

long-term debt

(1,076)

(740)

(717)

Long-term debt

(366)

(826)

(1,032)

Total financial debt

(1,442)

(1,566)

(1,749)

Net financial position

778

767

1,138





Net financial position, adjusted to account for 50%

investment in ST-Ericsson

1,267

1,167

1,255


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