STMicroelectronics Reports 2017 Third Quarter and Nine Months Financial Results

(Appendix - 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, marketable securities, short-term deposits and restricted cash, and our total financial debt includes 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 and management 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) September 30, 2017 July 1, 2017 October 1, 2016
Cash and cash equivalents 2,188 1,654 1,675
Marketable securities 433 335 342
Total financial resources 2,621 1,989 2,017
Short-term debt (486) (117) (117)
Long-term debt (1,689) (1,348) (1,436)
Total financial debt (2,175) (1,465) (1,553)
Net financial position 446 524 464

Free cash flow is defined as net cash from operating activities minus net cash from (used in) investing activities, excluding payment for purchases (proceeds from the sale of) marketable securities, short-term deposits and restricted cash. We believe free cash flow provides useful information for investors and management because it measures our capacity to generate cash from our operating and investing activities to sustain our operating activities. Free cash flow is not a U.S. GAAP measure and does not represent total cash flow since it does not include the cash flows generated by or used in financing activities. In addition, our definition of free cash flow may differ from definitions used by other companies.

Free cash flow (in US$ millions) Q3 2017 Q2 2017 Q1 2017 9M 2017 Q3 2016 Q2 2016 Q1 2016 9M 2016
Net cash from operating activities 463 369 289 1,121 332 192 141 665
Net cash used in investing activities (482) (317) (227) (1,026) (230) (144) (110) (484)
Payment for purchase and proceeds from sale of marketable securities, investment in short-term deposits and restricted cash 99 - - 99 - - - -
Free cash flow - Non-U.S. GAAP 80 52 62 194 102 48 31 181

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