AMD 2007 Annual Report Download - page 96

Table of Contents
Advanced Micro Devices Inc. and Subsidiaries
Consolidated Statements of Cash Flows
Three Years Ended December 29, 2007
2007 2006 2005
(In millions)
Cash flows from operating activities:
Net income (loss) $ (3,379) $ (166) $ 165
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Minority interest in consolidated subsidiaries 34 28 (125)
Depreciation and amortization 1,305 837 1,219
Write off of in-process research and development — 416 —
Provision for doubtful accounts (3) — (5)
Equity in (income) loss of Spansion and other 154 51 (3)
(Gain) loss on dilution of equity interest in Spansion Inc. — (6) 110
(Benefit) Provision for deferred income taxes (24) (2) (22)
Impairment of goodwill and acquired intangible assets 1,608 — 16
Gain on Spansion’s repurchase of its 12.75% Senior Subordinated Notes — (10) —
Amortization of foreign grant and subsidy income (167) (151) (110)
Net loss (gain) on disposal of property, plant and equipment (20) 14 6
Compensation recognized under employee stock plans 112 77 5
Other 43 27 7
Changes in operating assets and liabilities:
Accounts receivable 503 (55) (276)
Inventories 4 6 (28)
Prepaid expenses and other current assets (134) 96 62
Other assets 51 (175) (10)
Tax refund receivable — — 7
Income taxes payable (76) (1) (36)
Refund of customer deposits under long-term purchase agreements — — (18)
Accounts payables and accrued liabilities (321) 301 519
Net cash provided by (used in) operating activities (310) 1,287 1,483
Cash flows from investing activities:
Purchases of property, plant and equipment (1,685) (1,857) (1,513)
Proceeds from sale of property, plant and equipment 73 23 10
Proceeds from Spansion repayment of intercompany loans — 22 261
Proceeds from sale of Spansion Inc. stock 157 278 —
Acquisition of ATI, net of cash and cash equivalents acquired — (3,893) —
Purchases of available-for-sale securities (545) (2,119) (1,562)
Proceeds from sale and maturity of available-for-sale securities 307 3,066 836
Purchase of Spansion’s 12.75% Senior Subordinated Notes — — (159)
Proceeds from Spansion’s repurchase of its 12.75% Senior Subordinated Notes — 175 —
Net cash impact of change in status of Spansion from consolidated subsidiary to unconsolidated
investee — — (133)
Other 18 2 (10)
Net cash provided by (used in) investing activities $ (1,675) $ (4,303) $ (2,270)
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Source: ADVANCED MICRO DEVIC, 10-K, February 26, 2008