Crucial 2012 Annual Report Download - page 50

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MICRON TECHNOLOGY, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
For the year ended August 30,
2012 September 1, 2011 September 2, 2010
Cash flows from operating activities
Net income (loss) $ (1,031) $ 190 $ 1,900
Adjustments to reconcile net income (loss) to net cash provided by operating
activities:
Depreciation expense and amortization of intangible assets 2,141 2,105 1,922
Amortization of debt discount and other costs 81 57 83
Equity in net loss of equity method investees 294 158 39
Stock-based compensation 87 76 93
Loss on extinguishment of debt — 113 —
Gain from disposition of Japan Fab — (54) —
Gain from acquisition of Numonyx — — (437)
Change in operating assets and liabilities:
Receivables 238 54 (516)
Inventories 258 (357) (121)
Accounts payable and accrued expenses (83) (88) 201
Customer prepayments 254 4 (147)
Deferred income (56) 146 84
Deferred income taxes, net 3 103 (45)
Other (72) (23) 40
Net cash provided by operating activities 2,114 2,484 3,096
Cash flows from investing activities
Expenditures for property, plant and equipment (1,699) (2,550) (616)
Purchases of available-for-sale securities (564) (9) (3)
Additions to equity method investments (187) (31) (165)
Proceeds from sales and maturities of available-for-sale securities 152 1 3
Proceeds from sales of property, plant and equipment 67 127 94
(Increase) decrease in restricted cash 5 330 (240)
Return of equity method investment 1 48 —
Proceeds from sale of interest in Hynix JV — — 423
Cash acquired from acquisition of Numonyx — — 95
Other (87) 42 (39)
Net cash used for investing activities (2,312) (2,042) (448)
Cash flows from financing activities
Proceeds from issuance of debt 1,065 690 200
Proceeds from equipment sale-leaseback transactions 609 268 —
Cash received from noncontrolling interests 197 8 38
Acquisition of noncontrolling interests (466) (159) —
Distributions to noncontrolling interests (391) (225) (267)
Repayments of debt (203) (1,215) (840)
Payments on equipment purchase contracts (172) (322) (330)
Cash (paid) received for capped call transactions (102) (57) —
Cash paid to purchase common stock (6) (163) (21)
Other (34) (20) —
Net cash provided by (used for) financing activities 497 (1,195) (1,220)
Net increase (decrease) in cash and equivalents 299 (753) 1,428
Cash and equivalents at beginning of period 2,160 2,913 1,485
Cash and equivalents at end of period $ 2,459 $ 2,160 $ 2,913
Supplemental disclosures
Income taxes refunded (paid), net $ 13 $ (99) $ 2
Interest paid, net of amounts capitalized (72) (59) (95)
Noncash investing and financing activities:
Equipment acquisitions on contracts payable and capital leases 897 469 420
Conversion of notes to stock, net of unamortized issuance cost 138 — —
Exchange of convertible notes — 175 —
Stock and restricted stock units issued in acquisition of Numonyx — — 1,112
Acquisition of interest in Transform — — 65
See accompanying notes to consolidated financial statements.