AMD 2013 Annual Report Download - page 103

to certain agreements restricting the Borrowers’ ability to incur or repay debt, grant liens, make distributions, or
modify loan agreements or enter into any non-arm’s-length transaction with an affiliate.
During a Domestic Cash Trigger Period, the Borrowers are required to maintain a fixed charge coverage
ratio each four-fiscal quarter periods ending on and after March 29, 2014.
At December 28, 2013, the Secured Revolving Line of Credit had an outstanding loan balance of $55
million, with an interest rate of 2.75%, and up to $445 million remained available for future borrowings. As of
December 28, 2013, the Company was in compliance with all required covenants stated in the Loan Agreement.
The agreements governing the 6.00% Notes, 8.125% Notes, 7.75% Notes and 7.50% Notes and the Secured
Revolving Line of Credit contain cross-default provisions whereby a default under one agreement would likely
result in cross defaults under agreements covering other borrowings. The occurrence of a default under any of
these borrowing arrangements would permit the applicable note holders or the lenders under the Secured
Revolving Line of Credit to declare all amounts outstanding under those borrowing arrangements to be
immediately due and payable.
Capital Lease Obligations
As of December 28, 2013, the Company had aggregate outstanding capital lease obligations of $16 million
for one of its facilities in Canada, which is payable in monthly installments through 2017.
The gross amount of assets recorded under capital leases totaled approximately $23 million as of
December 28, 2013 and December 29, 2012, and is included in the related property, plant and equipment
category. Amortization of assets recorded under capital leases is included in depreciation expense. Accumulated
amortization of these leased assets was approximately $16 million and $14 million as of December 28, 2013 and
December 29, 2012, respectively.
Future Payments on Total Debt
As of December 28, 2013, the Company’s future long term debt and capital lease payment obligations were
as follows:
Long Term
Debt
(Principal
only)
Secured
Revolving
Line of
Credit
Capital
Leases
(In millions)
2014 ............................................ $ — $ 55 $ 6
2015 ............................................ 530 — 6
2016 ............................................ — — 6
2017 ............................................ 500 — 1
2018 ............................................ — — —
2019 and thereafter ................................. 1,000 — —
Total ............................................ 2,030 55 19
Less: imputed interest ............................... — — 3
Total ............................................ $2,030 $ 55 $ 16
NOTE 12: Other Income (Expense), Net
The following table summarizes the components of other income (expense), net:
2013 2012 2011
(In millions)
GF investment impairment charge ............................. $— $— $(209)
Impairment charge on marketable securities ..................... — (4) —
Net loss on debt repurchases .................................. (1) — (6)
Other .................................................... (4) 10 16
Other income (expense), net .................................. $ (5) $ 6 $(199)
95