AMD 2000 Annual Report Download - page 409

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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Other 2,266 0.2
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$256,868 20.5%
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1999
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(Thousands except percent) Tax Rate
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Statutory federal income tax
expense $ 25,766 35.0%
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State taxes, net of federal benefit 17,252 23.4
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Foreign income at other than U.S.
rates (4,952) (6.7)
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Net operating losses not currently
benefited 126,684 172.1
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Other 2,600 3.5
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$ 167,350 227.3%
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1998
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(Thousands except percent) Tax Rate
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Statutory federal income tax
benefit $ (72,598) (35.0)%
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State taxes, net of federal benefit (8,000) (3.9)
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Tax-exempt foreign sales
corporation income (940) (0.5)
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Foreign income at other than U.S.
rates (3,949) (1.9)
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Tax credits (6,200) (3.0)
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Other (191) -
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$ (91,878) (44.3)%
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The Company has made no provision for U.S. income taxes on approximately $438
million of cumulative undistributed earnings of certain foreign subsidiaries
because it is the Company's intention to permanently invest such earnings. If
such earnings were distributed, the Company would accrue additional taxes of
approximately $135 million.
7. DEBT
Significant elements of revolving lines of credit are:
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(Thousands except percent) 2000 1999
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Committed:
Three-year secured revolving line of credit $ 200,000 $200,000
Uncommitted:
Portion of unsecured lines of credit available to
foreign subsidiaries 24,419 71,032
Amounts outstanding at year-end under lines of credit:
Short-term 10,238 4,831
Short-term borrowings:
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Source: ADVANCED MICRO DEVIC, 10-K405, March 20, 2001