AMD 2010 Annual Report Download - page 84

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Advanced Micro Devices, Inc.
Consolidated Statements of Cash Flows
Year Ended
December 25,
2010
December 26,
2009
December 27,
2008
(In millions)
Cash flows from operating activities:
Net income (loss) ..................................................... $ 471 $ 293 $(3,096)
Adjustments to reconcile net income (loss) to net cash provided by (used in)
operating activities:
Equity in net loss of investee ........................................ 462 — —
Gain on deconsolidation of GLOBALFOUNDRIES ..................... (325) — —
Depreciation and amortization ....................................... 383 1,128 1,223
Provision (benefit) for deferred income taxes ........................... (5) 130 82
Net loss (gain) on debt redemption ................................... 24 (169) (34)
Gain on sale of certain Handheld assets ................................ — (28) —
Amortization of foreign grant and allowance income ..................... (16) (110) (107)
Impairment of goodwill and acquired intangible assets .................... — — 1,687
Net loss on disposal of property, plant and equipment .................... — 28 29
Compensation recognized under employee stock plans ................... 87 75 83
Non-cash interest expense .......................................... 30 121 29
Other than temporary impairment on marketable securities ................ — 3 77
Gain on sale of 200 millimeter equipment .............................. — — (193)
Net gain on sale of marketable securities ............................... (17) — —
Other .......................................................... (11) 41 (72)
Changes in operating assets and liabilities: .................................
Accounts receivable ............................................... (1,138) (960) 101
Inventories ...................................................... (144) 89 152
Prepaid expenses and other current assets .............................. (97) (17) 64
Other assets ..................................................... 11 (18) (41)
Income taxes payable .............................................. 2 (28) 46
Accounts payables, accrued liabilities and other ......................... (184) (105) (722)
Accounts payable to GLOBALFOUNDRIES ........................... 55 — —
Net cash provided by (used in) operating activities ............................... (412) 473 (692)
Cash flows from investing activities:
Purchases of available-for-sale securities .................................. (1,800) (1,486) (200)
Purchases of property, plant and equipment ................................ (148) (466) (624)
Proceeds from sale of certain Handheld assets .............................. — 58 —
Cash decrease due to deconsolidation of GLOBALFOUNDRIES ............... (904) — —
Proceeds from sale and maturity of available-for-sale securities ................. 1,640 603 416
Proceeds from sale and maturity of trading securities ......................... 69 14 —
Proceeds from sale of property, plant and equipment ......................... 1 — 343
Proceeds from sale of Digital Television business unit ........................ — — 127
Purchase of limited partner contribution ................................... — — (95)
Other .............................................................. 19 4 6
Net cash used in investing activities .......................................... (1,123) (1,273) (27)
Cash flows from financing activities:
Proceeds from issuance of GLOBALFOUNDRIES convertible notes ............ — 1,269 —
Proceeds from issuance of preferred securities of GLOBALFOUNDRIES ........ — 1,091 —
Proceeds from borrowings, net of issuance cost ............................. 1,520 1,060 308
Proceeds from issuance of AMD common stock ............................. 15 125 —
Net proceeds from foreign grants and allowances ............................ 19 55 161
Repurchase of noncontrolling interest ..................................... — (158) —
Repayments of debt and capital lease obligations ............................ (1,074) (1,820) (166)
Payments on return of noncontrolling interest contributions .................... — (67) (19)
Payments under silent partner obligation ................................... — (32) (63)
Proceeds from issuance of common stock under stock-based compensation plans . . . — 2 —
Other .............................................................. 4 (1) (1)
Net cash provided by financing activities ...................................... 484 1,524 220
Net increase (decrease) in cash and cash equivalents ............................. (1,051) 724 (499)
Cash and cash equivalents at beginning of year ................................. 1,657 933 1,432
Cash and cash equivalents at end of year ....................................... $ 606 $1,657 $ 933
Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest ......................................................... $ 164 $ 319 $ 339
Income taxes .................................................... $ 12 $ 14 $ 11
Non-cash financing activities:
Capital leases .................................................... $ — $ 36 $ —
See accompanying notes to consolidated financial statements.
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