AMD 1997 Annual Report Download - page 71

ADVANCED MICRO DEVICES, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
THREE YEARS ENDED DECEMBER 28, 1997
1997 1996 1995
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(THOUSANDS)
Cash flows from operating activities:
Net income (loss)............................. $ (21,090) $(68,950) $216,326
Adjustments to reconcile net income (loss) to
net cash provided by operating activities:
Depreciation and amortization................ 394,465 346,774 272,527
Net loss on disposal of property, plant and
equipment................................... 19,763 11,953 2,152
Net gain realized on sale of available-for-
sale securities............................. (4,978) (41,022) (2,707)
Compensation recognized under employee stock
plans....................................... 21,232 24 2,483
Undistributed income of joint venture........ (24,587) (54,798) (34,926)
Changes in operating assets and liabilities:
Net (increase) decrease in receivables,
inventories, prepaid expenses and other
assets.................................... (184,966) 30,421 12,307
Payment of litigation settlement........... -- -- (58,000)
Net (increase) decrease in deferred income
taxes..................................... (18,566) 17,134 (925)
Increase (decrease) in tax refund
receivable and income tax payable......... 61,209 (110,058) 11,772
Net increase (decrease) in payables and
accrued liabilities....................... 156,333 (42,863) 124,058
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Net cash provided by operating activities....... 398,815 88,615 545,067
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Cash flows from investing activities:
Purchase of property, plant and equipment..... (685,100) (485,018) (625,900)
Proceeds from sale of property, plant and
equipment.................................... 43,596 2,489 4,834
Purchase of available-for-sale securities..... (537,147) (633,476) (817,888)
Proceeds from sale of available-for-sale
securities................................... 545,478 840,492 756,373
Purchase of held-to-maturity debt securities.. -- -- (648,012)
Proceeds from maturities of held-to-maturity
debt securities.............................. -- -- 642,229
Investment in joint venture................... (128) -- (18,019)
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Net cash used in investing activities........... (633,301) (275,513) (706,383)
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Cash flows from financing activities:
Proceeds from borrowings...................... 283,482 447,877 246,345
Debt issuance costs........................... (13,080) (15,378) --
Payments on debt and capital lease
obligations.................................. (79,791) (252,766) (142,937)
Proceeds from foreign grants.................. 77,865 -- --
Proceeds from issuance of stock............... 40,474 47,043 101,804
Expenses for conversion of preferred stock and
redemption of stockholder rights............. -- -- (3,536)
Payments of preferred stock dividends......... -- -- (10)
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Net cash provided by financing activities....... 308,950 226,776 201,666
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Net increase in cash and cash equivalents....... 74,464 39,878 40,350
Cash and cash equivalents at beginning of year.. 166,194 126,316 85,966
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Cash and cash equivalents at end of year........ $ 240,658 $166,194 $126,316
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Supplemental disclosures of cash flow
information:
Cash paid (refunded) during the year for:
Interest (net of amounts capitalized)........ $ 34,600 $ -- $ 2,541
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Income taxes................................. $(100,016) $ 375 $ 60,329
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Non-cash financing activities:
Equipment capital leases..................... $ 44,770 $ 8,705 $ 24,422
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Conversion of preferred stock to common
stock....................................... $ -- $ -- $270,328
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See accompanying notes
F-6
Source: ADVANCED MICRO DEVIC, 10-K405, March 03, 1998