AMD 1994 Annual Report Download - page 403

CONSOLIDATED STATEMENTS OF CASH FLOWS
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Three years ended December 25, 1994
(Thousands) 1994 1993 1992
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Cash flows from operating activities:
Net income $ 305,266 $ 228,781 $ 245,011
Adjustments to reconcile net income to net cash provided
by operating activities:
Depreciation and amortization 215,984 175,275 152,313
Litigation settlement 58,000 - -
Net (gain) loss on sale of property, plant, and equipment 276 (2,943) 1,325
Write-down of property, plant, and equipment 2,230 366 222
Gain realized on available-for-sale securities - - (10,689)
Compensation recognized under employee stock plans 1,971 1,313 3,039
Undistributed loss of joint venture 10,585 634 -
Changes in operating assets and liabilities:
Net increase in receivables, inventories, prepaid
expenses, and other assets (114,566) (57,269) (2,471)
Net increase in deferred income taxes (21,072) (27,021) (19,109)
Increase in income tax payable 61,910 70,502 13,386
Net increase in payables and accrued liabilities 52,589 69,750 16,212
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Net cash provided by operating activities 573,173 459,388 399,239
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Cash flows from investing activities:
Purchase of property, plant, and equipment (548,742) (323,669) (222,064)
Proceeds from sale of property, plant, and equipment 2,058 4,648 1,261
Proceeds from available-for-sale securities - - 21,263
Purchase of held-to-maturity debt securities (1,245,167) (715,487) (594,801)
Proceeds from sale of held-to-maturity debt securities 1,416,431 566,773 432,590
Investment in joint venture (139,175) (3,160) -
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Net cash used in investing activities (514,595) (470,895) (361,751)
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Cash flows from financing activities:
Proceeds from borrowings 42,025 10,238 8,898
Principal payments on borrowings (68,898) (22,386) (153,094)
Proceeds from issuance of stock 39,565 42,401 15,145
Payments of preferred stock dividends (10,350) (10,350) (10,350)
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Net cash provided by (used in) financing activities 2,342 19,903 (139,401)
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Net increase (decrease) in cash and cash equivalents 60,920 8,396 (101,913)
Cash and cash equivalents at beginning of year 60,423 52,027 153,940
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Cash and cash equivalents at end of year $ 121,343 $ 60,423 $ 52,027
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Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest (net of amounts capitalized) $ 977 $ 2,123 $ 15,136
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Income taxes $ 111,704 $ 44,433 $ 32,149
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Non-cash financing activities:
Equipment capital leases $ 34,202 $ 64,512 $ -
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See accompanying notes
ADVANCED MICRO DEVICES, INC. 13
Source: ADVANCED MICRO DEVIC, 10-K, March 07, 1995