3Ware 2005 Annual Report Download - page 67

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APPLIED MICRO CIRCUITS CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Fiscal Years Ended March 31,
2005 2004 2003
Operating activities:
Net loss ................................................... $ (127,373) $ (104,877) $ (745,541)
Adjustments to reconcile net loss to net cash used for operating
activities
Cumulative effect of accounting change ....................... — — 102,229
Depreciation and amortization ............................... 18,113 20,410 31,782
Write-off of inventories .................................... — — 5,536
Amortization of goodwill and purchased intangibles .............. 30,283 10,068 6,287
Acquired in-process research and development .................. 13,400 21,800 —
Goodwill and purchased intangible asset impairment charges ...... 27,330 — 390,673
Stock-based compensation expense ........................... 9,340 21,203 131,886
Non-cash restructuring charges .............................. 4,187 6,307 45
Net loss (gain) on strategic equity investments .................. — (1,048) 13,250
Gain on disposals of property ................................ — (7,272) (1,313)
Changes in operating assets and liabilities:
Accounts receivables .................................... (3,692) (14,919) 9,893
Inventories ............................................ (4,574) 2,633 3,894
Other assets ............................................ (35,124) 8,577 5,125
Accounts payable ....................................... 3,921 (506) (5,689)
Accrued payroll and other accrued liabilities .................. 53,797 (5,020) 2,839
Deferred revenue ....................................... (929) 99 1,451
Net cash used for operating activities .................... (11,321) (42,545) (47,653)
Investing activities:
Proceeds from sales and maturities of short-term investments ........ 3,264,961 5,835,959 4,568,648
Purchases of short-term investments ............................ (3,094,094) (5,485,682) (4,725,350)
Repayments (advances) on notes receivable from employees ......... — 62 (10)
Purchase of property, equipment and other assets .................. (27,493) (13,443) (4,913)
Proceeds from the sale of strategic equity investments .............. — 1,760 —
Proceeds from sale of real estate ............................... — 24,881 16,432
Net cash paid for acquisitions ................................. (368,386) (167,869) —
Net cash provided by (used for) investing activities ........ (225,012) 195,668 (145,193)
Financing activities:
Proceeds from issuance of common stock ........................ 10,153 26,873 8,588
Repurchase of common stock .................................. (16,933) — —
Structured stock repurchases, net ............................... (11,181) — —
Repayment of note receivable from stockholder ................... — — 47
Payments on capital lease obligations ........................... (201) (763) (304)
Payments on long-term debt ................................... (68) (607) (714)
Other ..................................................... 797 (20) 193
Net cash provided by (used for) financing activities ........ (17,433) 25,483 7,810
Net increase (decrease) in cash and cash equivalents ....... (253,766) 178,606 (185,036)
Cash and cash equivalents at beginning of period ...................... 329,162 150,556 335,592
Cash and cash equivalents at end of period ........................... $ 75,396 $ 329,162 $ 150,556
Supplementary cash flow disclosure:
Cash paid for:
Interest ............................................... $ 35 $ 32 $ 148
Income taxes ........................................... $ 764 $ 144 $ 437
See Accompanying Notes to Financial Statements
F-5