AMD 1999 Annual Report Download - page 149

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CONSOLIDATED STATEMENTS OF CASH FLOWS
Three Years Ended December 26, 1999 (Thousands) 1999 1998 1997
-----------------------------------------------------------------------------------------------------------
Cash flows from operating activities:
Net loss $ (88,936) $ (103,960) $ (21,090)
Adjustments to reconcile net loss to net cash
provided by operating activities:
Gain on sale of Vantis (432,059) -- --
Depreciation and amortization 515,520 467,521 394,465
(Increase) decrease in deferred income tax assets 160,668 (106,861) (18,566)
Restructuring and other special charges 29,858 -- --
Foreign grant subsidy income (50,178) -- --
Net loss on disposal of property, plant and equipment 10,665 11,515 19,763
Net gain realized on sale of available-for-sale securities (4,250) -- (4,978)
Compensation recognized under employee stock plans 2,655 8,645 21,232
Undistributed income of joint venture (4,789) (11,591) (24,587)
Recognition of deferred gain on sale of building (1,680) -- --
Changes in operating assets and liabilities:
Net increase in receivables, inventories,
prepaid expenses and other assets (113,965) (151,998) (184,966)
Increase (decrease) in tax refund receivable
and tax payable (4,992) 9,350 61,209
Net increase in payables and accrued liabilities 241,403 19,195 156,333
-----------------------------------------------------------------------------------------------------------
Net cash provided by operating activities 259,920 141,816 398,815
-----------------------------------------------------------------------------------------------------------
Cash flows from investing activities:
Purchase of property, plant and equipment (619,772) (975,105) (685,100)
Proceeds from sale of Vantis 454,269 -- --
Proceeds from sale of property, plant and equipment 3,996 106,968 43,596
Purchase of available-for-sale securities (1,579,813) (1,591,802) (537,275)
Proceeds from sale and maturity of available-for-sale securities 1,598,946 1,482,890 545,478
-----------------------------------------------------------------------------------------------------------
Net cash used in investing activities (142,374) (977,049) (633,301)
-----------------------------------------------------------------------------------------------------------
Cash flows from financing activities:
Proceeds from borrowings 12,101 816,448 283,482
Debt issuance costs -- (14,350) (13,080)
Payments on debt and capital lease obligations (243,762) (92,601) (79,791)
Proceeds from foreign grants and subsidies 14,341 196,651 77,865
Proceeds from issuance of stock 43,777 44,099 40,474
-----------------------------------------------------------------------------------------------------------
Net cash (used) provided by financing activities (173,543) 950,247 308,950
-----------------------------------------------------------------------------------------------------------
Effect of exchange rate changes on cash and cash equivalents (11,786) 6,236 --
Net increase (decrease) in cash and cash equivalents (67,783) 121,250 74,464
-----------------------------------------------------------------------------------------------------------
Cash and cash equivalents at beginning of year 361,908 240,658 166,194
-----------------------------------------------------------------------------------------------------------
Cash and cash equivalents at end of year $ 294,125 $ 361,908 $ 240,658
-----------------------------------------------------------------------------------------------------------
Supplemental disclosures of cash flow information:
Cash paid (refunded) during the year for:
Interest, net of amounts capitalized $ 51,682 $ 58,517 $ 34,600
-----------------------------------------------------------------------------------------------------------
Income taxes $ 15,466 $ 2,732 $(100,016)
-----------------------------------------------------------------------------------------------------------
Non-cash financing activities:
Equipment capital leases $ 2,307 $ 13,908 $ 44,770
-----------------------------------------------------------------------------------------------------------
See accompanying notes
26
Source: ADVANCED MICRO DEVIC, 10-K405, March 21, 2000