Amazon.com 2001 Annual Report Download - page 54

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AMAZON.COM, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Years Ended December 31,
2001 2000 1999
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD .................... $822,435 $ 133,309 $ 71,583
OPERATING ACTIVITIES:
Net loss ................................................................... (567,277) (1,411,273) (719,968)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of fixed assets and other amortization ............................. 84,709 84,460 36,806
Stock-based compensation ................................................ 4,637 24,797 30,618
Equity in losses of equity-method investees, net ............................... 30,327 304,596 76,769
Amortization of goodwill and other intangibles ................................ 181,033 321,772 214,694
Non-cash restructuring-related and other ..................................... 73,293 200,311 8,072
Loss (gain) on sale of marketable securities, net ............................... (1,335) (280) 8,688
Other losses (gains), net .................................................. 2,141 142,639 —
Non-cash interest expense and other ......................................... 26,629 24,766 29,171
Cumulative effect of change in accounting principle ............................ 10,523 — —
Changes in operating assets and liabilities:
Inventories ............................................................. 30,628 46,083 (172,069)
Prepaid expenses and other current assets .................................... 20,732 (8,585) (54,927)
Accounts payable ....................................................... (44,438) 22,357 330,166
Accrued expenses and other current liabilities ................................. 50,031 93,967 95,839
Unearned revenue ....................................................... 114,738 97,818 6,225
Amortization of previously unearned revenue ................................. (135,808) (108,211) (5,837)
Interest payable ......................................................... (345) 34,341 24,878
Net cash used in operating activities ..................................... (119,782) (130,442) (90,875)
INVESTING ACTIVITIES:
Sales and maturities of marketable securities ...................................... 370,377 545,724 2,064,101
Purchases of marketable securities .............................................. (567,152) (184,455) (2,359,398)
Purchases of fixed assets, including internal use software and web-site development ...... (50,321) (134,758) (287,055)
Investments in equity-method investees and other investments ........................ (6,198) (62,533) (369,607)
Net cash provided by (used in) investing activities ......................... (253,294) 163,978 (951,959)
FINANCING ACTIVITIES:
Proceeds from exercise of stock options and other .................................. 16,625 44,697 64,469
Proceeds from issuance of common stock, net of issuance costs ....................... 99,831 — —
Proceeds from long-term debt and other .......................................... 10,000 681,499 1,263,639
Repayment of long-term debt and other .......................................... (19,575) (16,927) (188,886)
Financing costs ............................................................. — (16,122) (35,151)
Net cash provided by financing activities ................................. 106,881 693,147 1,104,071
Effect of exchange-rate changes on cash and cash equivalents ........................ (15,958) (37,557) 489
Net increase (decrease) in cash and cash equivalents ................................ (282,153) 689,126 61,726
CASH AND CASH EQUIVALENTS, END OF PERIOD ........................... $540,282 $ 822,435 $ 133,309
SUPPLEMENTAL CASH FLOW INFORMATION:
Fixed assets acquired under capital leases ........................................ $ 4,597 $ 4,459 $ 25,850
Fixed assets acquired under financing agreements .................................. 1,000 4,844 5,608
Equity securities received for commercial agreements ............................... 331 106,848 54,402
Stock issued in connection with business acquisitions and minority investments .......... 5,000 32,130 774,409
Cash paid for interest ........................................................ 112,184 67,252 30,526
See accompanying notes to consolidated financial statements.
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