AMD 1995 Annual Report Download - page 232

CONSOLIDATED
statements of cash flows
Three Years Ended December 31, 1995
(Thousands) 95 94 93
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Cash flows from operating activities:
Net income $ 300,521 $ 305,266 $ 228,781
Adjustments to reconcile net income to net cash provided
by operating activities:
Depreciation and amortization 262,501 215,984 175,275
Accrual for litigation settlement -- 58,000 --
Net (gain) loss on sale of property, plant, and equipment 2,152 276 (2,943)
Write-down of property, plant, and equipment 611 2,230 366
Gain realized on sale of available-for-sale securities (2,707) -- --
Compensation recognized under employee stock plans 2,483 1,971 1,313
Undistributed (income) loss of joint venture (34,926) 10,585 634
Changes in operating assets and liabilities:
Net increase in receivables, inventories, prepaid expenses,
and other assets (2,606) (114,566) (57,269)
Payment of litigation settlement (58,000) -- --
Net (increase) decrease in deferred income taxes 41,607 (21,072) (27,021)
Increase in income tax payable 11,772 61,910 70,502
Net increase in payables and accrued liabilities 88,490 52,589 69,750
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Net cash provided by operating activities 611,898 573,173 459,388
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Cash flows from investing activities:
Purchase of property, plant, and equipment (620,815) (548,742) (323,669)
Proceeds from sale of property, plant, and equipment 4,834 2,058 4,648
Purchase of available-for-sale securities (678,071) (36,700) --
Proceeds from sale of available-for-sale securities 603,772 -- --
Purchase of held-to-maturity debt securities (648,012) (1,245,167) (715,487)
Proceeds from maturities of held-to-maturity debt securities 642,229 1,416,431 566,773
Investment in joint venture (18,019) (139,175) (3,160)
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Net cash used in investing activities (714,082) (551,295) (470,895)
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Cash flows from financing activities:
Proceeds from borrowings 236,982 42,025 10,238
Payments on capital lease obligations and other debt (125,614) (68,898) (22,386)
Proceeds from issuance of stock 23,073 39,565 42,401
Redemption of preferred stock and stockholder rights (3,536) -- --
Payments of preferred stock dividends (10) (10,350) (10,350)
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Net cash provided by financing activities 130,895 2,342 19,903
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Net increase in cash and cash equivalents 28,711 24,220 8,396
Cash and cash equivalents at beginning of year 84,643 60,423 52,027
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Cash and cash equivalents at end of year $ 113,354 $ 84,643 $ 60,423
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Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest (net of amounts capitalized) $ -- $ 977 $ 2,123
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Income taxes $ 60,329 $ 111,704 $ 44,433
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Non-cash financing activities:
Equipment capital leases $ 24,422 $ 34,202 $ 64,512
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Conversion of preferred stock to common stock $ 164,127 $ -- $ --
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See accompanying notes
Source: ADVANCED MICRO DEVIC, 10-K405, March 21, 1996