AMD 2004 Annual Report Download - page 116

Table of Contents
Guarantees of Indebtedness Recorded on the Company’s Consolidated Balance Sheet
The following table summarizes the principal guarantees issued as of December 26, 2004 related to underlying liabilities that are already recorded on the
Company’s consolidated balance sheet as of December 26, 2004 and their expected expiration dates by year. No incremental liabilities are recorded on the
Company’s consolidated balance sheet for these guarantees:
Amounts
Guaranteed(1) 2005 2006 2007 2008 2009
2010 and
Beyond
(in thousands)
July 2003 Spansion term loan guarantee (see Note 7) $ 26,759 $ 16,500 $ 10,259 $ — $ — $ — $ —
Spansion Japan term loan guarantee (see Note 7) 76,433 27,794 27,794 20,845 — — —
Spansion capital lease guarantees 87,303 49,557 34,475 3,271 — — —
Repurchase Obligations to Fab 36 partners(2) 121,931 16,242 26,422 26,422 26,422 26,423 —
Total guarantees $ 312,426 $ 110,093 $ 98,950 $ 50,538 $ 26,422 $ 26,423 $ —
(1) Amounts represent the principal amount of the underlying obligations guaranteed and are exclusive of obligations for interest, fees and expenses.
(2) This is the amount of silent partnership contributions received by AMD Fab 36 KG, as of December 26, 2004 from the unaffiliated limited partners under
the Fab 36 partnership agreements. Assuming certain milestones are met by AMD Fab 36 KG, the Company expects to receive a total of up to $189
million of silent partnership contributions. AMD Fab 36 Holding and AMD Fab 36 Admin are required to repurchase each partner’s silent partnership
contribution in annual installments one year after the partner has contributed the full amount required under the partnership agreements. The Company
guaranteed these obligations. As of December 26, 2004, Fab 36 Beteiligungs had contributed the full amount required under the partnership agreements,
but Leipziger Messe had not contributed the full amount. Therefore, the condition precedent to the Company’s repurchase obligations with respect to
Leipziger Messe’s silent partnership contribution had not been met. See “Fab 36 Term Loan and Guarantee and Fab 36 Partnership Agreements,” in Note
7.
Guarantees of Indebtedness not Recorded on the Company’s Consolidated Balance Sheet
The following table summarizes the principal guarantees issued as of December 26, 2004 for which the related underlying liabilities are not recorded on
the Company’s consolidated balance sheets as of December 26, 2004 and their expected expiration dates.
Amounts
Guaranteed(1) 2005 2006 2007 2008 2009
2010 and
Beyond
(in thousands)
Spansion LLC operating lease guarantees $ 24,414 $ 13,267 $ 8,069 $ 2,052 $ 1,026 $ — $ —
AMTC revolving loan guarantee 43,308 — — 43,308 — — —
AMTC rental guarantee(2) 153,489 — — — — — 153,489
Other 5,629 1,813 3,816 — — — —
Total guarantees $ 226,840 $ 15,080 $ 11,885 $ 45,360 $ 1,026 $ — $ 153,489
(1) Amounts represent the principal amount of the underlying obligations guaranteed and are exclusive of obligations for interest, fees and expenses.
(2) Amount of the guarantee diminishes as the rent is paid.
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Source: ADVANCED MICRO DEVIC, 10-K, March 01, 2005