AMD 1996 Annual Report Download - page 225

CONSOLIDATED STATEMENTS OF CASH FLOWS
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Three Years Ended December 29, 1996
(Thousands) 1996 1995 1994
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Cash flows from operating activities:
Net income (loss) ......................................................... $ (68,950) $ 216,326 $ 270,942
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Depreciation and amortization .......................................... 332,640 264,675 217,665
Accrual for litigation settlement ...................................... -- -- 58,000
Net loss on sale of property, plant, and equipment ..................... 11,953 2,152 276
Write-down of property, plant, and equipment ........................... 1,081 611 2,230
Net gain realized on sale of available-for-sale securities ............. (41,022) (2,707) --
Compensation recognized under employee stock plans ..................... 24 2,483 1,971
Undistributed (income) loss of joint venture ........................... (54,798) (34,926) 10,585
Changes in operating assets and liabilities:
Net (increase) decrease in receivables, inventories,
prepaid expenses, and other assets .............................. 28,096 19,548 (128,914)
Payment of litigation settlement .................................... -- (58,000) --
Net (increase) decrease in deferred income taxes .................... 17,134 (925) (32,543)
Increase (decrease) in tax refund receivable and income ............. (110,058) 11,772 61,910
tax payable
Net increase (decrease) in payables and accrued liabilities ......... (42,863) 124,058 63,737
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Net cash provided by operating activities .................................... 73,237 545,067 525,859
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Cash flows from investing activities:
Purchase of property, plant, and equipment ................................ (485,018) (625,900) (552,271)
Proceeds from sale of property, plant, and equipment ...................... 2,489 4,834 2,058
Purchase of available-for-sale securities ................................. (633,476) (817,888) (56,328)
Proceeds from sale of available-for-sale securities ....................... 840,492 756,373 4,849
Purchase of held-to-maturity debt securities .............................. -- (648,012) (1,245,167)
Proceeds from maturities of held-to-maturity debt securities .............. -- 642,229 1,416,431
Investment in joint venture ............................................... -- (18,019) (139,175)
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Net cash used in investing activities ........................................ (275,513) (706,383) (569,603)
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Cash flows from financing activities:
Proceeds from borrowings .................................................. 447,877 246,345 42,025
Payments on debt and capital lease obligations ............................ (252,766) (142,937) (70,288)
Proceeds from issuance of stock ........................................... 47,043 101,804 136,443
Expenses for conversion of preferred stock and
redemption of stockholder rights ....................................... -- (3,536) --
Payments of preferred stock dividends ..................................... -- (10) (10,350)
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Net cash provided by financing activities .................................... 242,154 201,666 97,830
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Net increase in cash and cash equivalents .................................... 39,878 40,350 54,086
Cash and cash equivalents at beginning of year ............................... 126,316 85,966 63,911
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Cash and cash equivalents at end of year ..................................... $ 166,194 $ 126,316 $ 117,997
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Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest (net of amounts capitalized) .................................. $ -- $ 2,541 $ 4,125
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Income taxes ........................................................... $ 375 $ 60,329 $ 111,704
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Non-cash financing activities:
Equipment capital leases ............................................... $ 8,705 $ 24,422 $ 34,202
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Conversion of preferred stock to common stock .......................... $ -- $ 270,328 $ 106,201
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See accompanying notes
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Source: ADVANCED MICRO DEVIC, 10-K, March 20, 1997