AMD 2009 Annual Report Download - page 74

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Financing Activities
Net cash provided by financing activities was $1.5 billion in 2009 primarily as a result of proceeds of $2.3
billion from the issuance of GF’s Class A Notes, Class B Notes, Class A Preferred Shares and Class B Preferred
Shares, of which $1.6 billion constituted cash proceeds to GF, proceeds of $605 million from the sale of certain
of our accounts receivable to the IBM parties pursuant to the financing arrangement described above, proceeds of
$440 million from the issuance of $500 million aggregate principle of 8.125% Notes, proceeds of $15 million
from a revolving credit facility entered into by our subsidiary, AMD Products (China) Co. Ltd. and China
Merchant Bank, proceeds of $125 million from the sale of 58 million shares of AMD common stock and
warrants to purchase 35 million shares of AMD common stock at an exercise price of $0.01 per share to WCH in
connection with the GF joint venture, and proceeds from grants and allowances from the Federal Republic of
Germany and the State of Saxony of $55 million for GF’s Dresden manufacturing facilities. These amounts were
partially offset by payments to Leipziger Messe of $180 million to repurchase its partnership interests in AMD
Fab 36 KG, $67 million related to the guaranteed rate of return on those partnership interests and $10 million
related to a call option premium to Leipziger Messe for the early repurchase of its partnership interests. Net cash
provided by financing activities was also partially offset by $1.8 billion of payments on certain debt and cash
obligations, consisting of $1,002 million to repurchase $1,015 million aggregate principal amount of our 5.75%
Notes, $398 million to redeem $390 million aggregate principal amount of our 7.75% Notes and $161 million to
repurchase $344 million aggregate principal amount of our 6.00% Notes. During 2009 we did not realize any
excess tax benefit related to stock-based compensation. Therefore, we did not record any related financing cash
flows.
Net cash provided by financing activities was $220 million in 2008, primarily due to proceeds of $308
million from the financing arrangement with the IBM parties described above and proceeds of grants and
allowances from the Federal Republic of Germany and the State of Saxony of $161 million for our former
Dresden manufacturing facilities. These amounts were partially offset by $166 million of payments on certain
debt and cash obligations, consisting of $20 million for the repurchase of $60 million aggregate principal amount
of our 6.00% Notes, $38 million for the exercise of our call option to repurchase the silent partnership
contributions in AMD Fab 36 KG held by Fab 36 Beteiligungs GmbH & Co. KG, $25 million for the mandatory
repurchase of a portion of the silent partnership contributions in AMD Fab 36 KG held by Leipziger Messe and
$19 million in payments for the guaranteed return on the unaffiliated limited partners’ limited partnership
contributions. During 2008, we did not realize any excess tax benefit related to stock-based compensation.
Therefore, we did not record any related financing cash flows.
Net cash provided by financing activities was approximately $2.0 billion in 2007 and consisted primarily of
proceeds of: $2.2 billion from the issuance and sale of our 6.00% Notes; $1.5 billion from the issuance and sale
of our 5.75% Notes; $608 million from the sale of our common stock to a wholly-owned subsidiary of Mubadala
Development Company; $78 million from the sale of stock under our Employee Stock Purchase Plan and the
exercise of employee stock options; and $223 million of capital investment grants and allowances received from
the Federal Republic of Germany and the State of Saxony, primarily for the Fab 36 project. These proceeds were
partially offset by the $2.2 billion repayment of our October 2006 Term Loan, a payment of $182 million for the
purchase of a capped call in connection with the issuance of our 6.00% Notes and a payment of $46 million for
our mandatory repurchase of silent partner contributions from our unaffiliated partners in AMD Fab 36 KG.
During 2007, we did not realize any excess tax benefit related to stock-based compensation. Therefore, we did
not record any related financing cash flow.
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