AMD 2000 Annual Report Download - page 398

CONSOLIDATED STATEMENTS OF CASH FLOWS
Three Years Ended December 31, 2000 2000 1999 1998
(Thousands)
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Cash flows from operating activities:
Net income (loss) $ 983,026 $ (88,936) $ (103,960)
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Gain on sale of Vantis - (432,059) -
Gain on sale of Legerity (336,899) - -
Depreciation and amortization 579,070 515,520 467,521
(Increase) decrease in deferred income tax assets (19,076) 160,668 (106,861)
Restructuring and other special charges - 29,858 -
Foreign grant subsidy income (35,187) (50,178) -
Net loss on disposal of property, plant and equipment 10,380 10,665 11,515
Net gain realized on sale of available-for-sale securities - (4,250) -
Compensation recognized under employee stock plans 867 2,655 8,645
Undistributed income of joint venture (11,039) (4,789) (11,591)
Recognition of deferred gain on sale of building (1,681) (1,680) -
Income tax benefits from employee stock option exercises 158,253 - -
Changes in operating assets and liabilities:
Increase in accounts receivable (132,325) (44,526) (86,684)
Increase in inventories (156,284) (23,138) (6,558)
Decrease/(increase) in prepaid expenses 79,293 (101,786) (12,930)
Decrease/(increase) in other assets (269,392) 55,485 (45,826)
Increase (decrease) in tax refund receivable and tax
payable 57,479 (4,992) 9,350
Customer deposits under purchase agreements 142,500 - -
Net increase in payables and accrued liabilities 156,567 241,403 19,195
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Net cash provided by operating activities 1,205,552 259,920 141,816
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Cash flows from investing activities:
Purchases of property, plant and equipment (805,474) (619,772) (975,105)
Proceeds from sale of Vantis - 454,269 -
Proceeds from sale of Legerity 375,000 - -
Proceeds from sale of property, plant and equipment 12,899 3,996 106,968
Purchases of available-for-sale securities (4,179,993) $(1,579,813) (1,591,802)
Proceeds from sale or maturity of available-for-sale
securities 3,781,766 1,598,946 1,482,890
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Net cash used in investing activities (815,802) (142,374) (977,049)
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Cash flows from financing activities:
Proceeds from borrowings 135,789 12,101 816,448
Debt issuance costs - - (14,350)
Payments on debt and capital lease obligations (375,016) (243,762) (92,601)
Proceeds from foreign grants and subsidies 15,382 14,341 196,651
Proceeds from issuance of stock 122,994 43,777 44,099
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Net cash (used) provided by financing activities (100,851) (173,543) 950,247
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Effect of exchange rate changes on cash and cash equivalents 8,433 (11,786) 6,236
Net increase (decrease) in cash and cash equivalents 297,332 (67,783) 121,250
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Cash and cash equivalents at beginning of year 294,125 361,908 240,658
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Cash and cash equivalents at end of year $ 591,457 $ 294,125 $ 361,908
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Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest, net of amounts capitalized $ 115,791 $ 51,682 $ 58,517
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Income taxes $ 46,009 $ 15,466 $ 2,732
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Non-cash financing activities:
Equipment capital leases $ - $ 2,307 $ 13,908
See accompanying notes
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Source: ADVANCED MICRO DEVIC, 10-K405, March 20, 2001