Intel 2002 Annual Report Download - page 39

Download and view the complete annual report

Please find page 39 of the 2002 Intel annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 93

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93

See accompanying notes.
46
INTEL CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
Three Years Ended December 28, 2002
(In Millions)
2002
2001
2000
Cash and cash equivalents, beginning of year
$
7,970
$
2,976
$
3,695
Cash flows provided by (used for) operating activities:
Net income
3,117
1,291
10,535
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
4,676
4,131
3,249
Amortization of goodwill
—
1,710
1,310
Amortization and impairment of intangibles and other acquisition
-
related costs
668
717
352
Purchased in
-
process research and development
198
109
(Gains) losses on equity securities, net
372
466
(3,759
)
(Gain) loss on investment in Convera
—
196
(117
)
Net loss on retirements and impairments of property, plant and equipment
301
119
139
Deferred taxes
110
(519
)
(130
)
Tax benefit from employee stock plans
270
435
887
Changes in assets and liabilities:
Trading assets
(444
)
898
Accounts receivable
1,561
(384
)
Inventories
(26
)
24
(731
)
Accounts payable
(226
)
(673
)
978
Accrued compensation and benefits
107
(524
)
231
Income taxes payable
175
(270
)
(362
)
Other assets and liabilities
(21
)
(971
)
482
Total adjustments
6,012
7,498
2,292
Net cash provided by operating activities
9,129
8,789
12,827
Cash flows provided by (used for) investing activities:
Additions to property, plant and equipment
(4,703
)
(7,309
)
(6,674
)
Acquisitions, net of cash acquired
(57
)
(883
)
(2,317
)
Purchases of available
-
for
-
sale investments
(6,309
)
(7,141
)
(17,188
)
Maturities and sales of available
-
for
-
sale investments
5,634
15,398
17,124
Other investing activities
(330
)
(395
)
(980
)
Net cash used for investing activities
(5,765
)
(330
)
(10,035
)
Cash flows provided by (used for) financing activities:
Increase (decrease) in short
-
term debt, net
(101
)
23
138
Additions to long
-
term debt
306
Repayment and retirement of long
-
term debt
(18
)
(10
)
(46
)
Proceeds from sales of shares through employee stock plans and other
681
762
797
Repurchase and retirement of common stock
(4,014
)
(4,008
)
(4,007
)
Payment of dividends to stockholders
(533
)
(538
)
(470
)
Net cash used for financing activities
(3,930
)
(3,465
)
(3,511
)
Net increase (decrease) in cash and cash equivalents
(566
)
4,994
(719
)