Qualcomm 2005 Annual Report Download - page 58
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Consolidated Statements of Cash Flows
Year Ended
Sept. 25, Sept. 26, Sept. 28,
(in millions) 2005 2004 2003
Operating Activities:
Income from continuing operations $ 2,143 $ 1,725 $ 1,029
Depreciation and amortization 200 163 146
Asset impairment and related charges — — 34
Net realized gains on marketable securities and other investments (179) (88) (80)
(Gains) losses on derivative instruments (33) (7) 3
Other-than-temporary losses on marketable securities and other investments 14 12 128
Equity in losses of investees 28 72 113
Non-cash income tax expense 498 419 411
Other non-cash charges — 35 13
Proceeds from (purchases of) trading securities — — 2
Increase (decrease) in cash resulting from changes in:
Accounts receivable, net 35 (93) 53
Inventories (23) (50) (23)
Other assets (74) 51 (12)
Trade accounts payable 57 151 (24)
Payroll, benefi ts and other liabilities 49 148 43
Unearned revenue (29) (57) (12)
Net cash provided by operating activities 2,686 2,481 1,824
Investing Activities:
Capital expenditures (576) (332) (202)
Purchases of available-for-sale securities (8,055) (8,372) (4,484)
Proceeds from sale of available-for-sale securities 8,072 5,026 3,183
Purchases of held-to-maturity securities — (184) (355)
Maturities of held-to-maturity securities 10 401 257
Issuance of fi nance receivables — (1) (150)
Collection of fi nance receivables 2 196 813
Other investments and acquisitions, net of cash acquired (249) (70) (37)
Other items, net 20 10 (17)
Net cash used by investing activities (776) (3,326) (992)
Financing Activities:
Proceeds from issuance of common stock 386 330 191
Repurchase and retirement of common stock (953) — (166)
Proceeds from put options 37 5 7
Dividends paid (524) (308) (135)
Net cash (used) provided by fi nancing activities (1,054) 27 (103)
Net cash used by discontinued operations — (13) (89)
Effect of exchange rate changes on cash — — (2)
Net increase (decrease) in cash and cash equivalents 856 (831) 638
Cash and cash equivalents at beginning of year 1,214 2,045 1,407
Cash and cash equivalents at end of year $ 2,070 $ 1,214 $ 2,045
See accompanying notes.