AMD 2009 Annual Report Download - page 88

Advanced Micro Devices Inc.
Consolidated Statements of Cash Flows
Three Years Ended December 26, 2009
2009 2008* 2007*
(In millions)
Cash flows from operating activities:
Net income (loss) ..................................................................... $ 293 $(3,096) $(3,359)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization ....................................................... 1,128 1,223 1,305
Impairment of goodwill and acquired intangible assets .................................... — 1,687 1,608
Gain on sale of 200 millimeter equipment .............................................. — (193) —
Amortization of foreign grant and allowance income ..................................... (110) (107) (167)
Compensation recognized under employee stock plans .................................... 75 83 112
Non-cash interest expense ........................................................... 121 29 17
Provision (benefit) for deferred income taxes ............................................ 130 82 (16)
Other than temporary impairment on marketable securities ................................. 3 77 155
Net loss (gain) on disposal of property, plant and equipment ................................ 28 29 (20)
Gain on debt redemption ............................................................ (169) (34) —
Gain on sale of certain Handheld assets ................................................ (28) — —
Other ........................................................................... 41 (72) 39
Changes in operating assets and liabilities:
Accounts receivable ............................................................... (960) 101 503
Inventories ....................................................................... 89 152 4
Prepaid expenses and other current assets .............................................. (17) 64 (134)
Other assets ...................................................................... (18) (41) 48
Income taxes payable .............................................................. (28) 46 (76)
Accounts payables and accrued liabilities .............................................. (105) (722) (329)
Net cash provided by (used in) operating activities ............................................... 473 (692) (310)
Cash flows from investing activities:
Purchases of property, plant and equipment ................................................. (466) (624) (1,685)
Purchases of available-for-sale securities ................................................... (1,486) (200) (545)
Proceeds from sale of property, plant and equipment .......................................... — 343 73
Proceeds from sale and maturity of available-for-sale securities ................................. 603 416 307
Proceeds from the maturity of trading securities ............................................. 14 — —
Proceeds from sale of certain Handheld assets ............................................... 58 — 157
Proceeds from sale of Digital Television business unit ........................................ — 127 —
Purchase of limited partner contribution .................................................... — (95) —
Other ............................................................................... 4 6 18
Net cash used in investing activities ........................................................... (1,273) (27) (1,675)
Cash flows from financing activities:
Proceeds from issuance of GLOBALFOUNDRIES preferred shares ............................. 1,091 — —
Proceeds from issuance of GLOBALFOUNDRIES convertible notes ............................ 1,269 — —
Proceeds from borrowings, net of issuance cost .............................................. 1,060 308 3,649
Proceeds from issuance of AMD common stock ............................................. 125 — 608
Net proceeds from foreign grants and allowances ............................................ 55 161 223
Proceeds from issuance of common stock under stock-based compensation plans ................... 2 — 78
Repayments of debt and capital lease obligations ............................................ (1,820) (166) (2,291)
Repurchase of noncontrolling interest ..................................................... (158) — —
Payments under silent partner obligation ................................................... (32) (63) (46)
Payments on return of noncontrolling interest contributions .................................... (67) (19) —
Purchase of capped call instrument in connection with borrowings ............................... — — (182)
Other ............................................................................... (1) (1) (2)
Net cash provided by financing activities ....................................................... 1,524 220 2,037
Net increase (decrease) in cash and cash equivalents .............................................. 724 (499) 52
Cash and cash equivalents at beginning of year .................................................. 933 1,432 1,380
Cash and cash equivalents at end of year ....................................................... $1,657 $ 933 $ 1,432
Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest .......................................................................... $ 319 $ 339 $ 314
Income taxes ..................................................................... $ 14 $ 11 $ 26
Non-cash financing activities:
Capital leases .................................................................... $ 36 $ — $ 57
* Includes the effects of the retrospective adoption in 2009 of new accounting guidance for convertible debt that may be settled in cash
upon conversion. See Note 11.
See accompanying notes to consolidated financial statements.
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