Amazon.com 2000 Annual Report Download - page 44

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AMAZON.COM, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Years Ended December 31,
2000 1999 1998
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD . . . $ 133,309 $ 71,583 $ 110,119
OPERATING ACTIVITIES:
Net loss .............................................. (1,411,273) (719,968) (124,546)
Adjustments to reconcile net loss to net cash provided by (used in)
operating activities:
Depreciation of fixed assets and other amortization ........... 84,460 36,806 9,421
Amortization of deferred stock-based compensation .......... 24,797 30,618 2,386
Equity in losses of equity-method investees, net ............. 304,596 76,769 2,905
Amortization of goodwill and other intangibles .............. 321,772 214,694 42,599
Impairment-related and other ........................... 200,311 8,072 1,561
Amortization of previously unearned revenue ............... (108,211) (5,837) —
Loss (gain) on sale of marketable securities, net ............. (280) 8,688 271
Non-cash investment gains and losses, net ................. 142,639 — —
Non-cash interest expense and other ...................... 24,766 29,171 23,970
Changes in operating assets and liabilities:
Inventories ........................................ 46,083 (172,069) (20,513)
Prepaid expenses and other current assets .................. (8,585) (54,927) (16,758)
Accounts payable ................................... 22,357 330,166 78,674
Accrued expenses and other current liabilities ............... 93,967 95,839 31,232
Unearned revenue ................................... 97,818 6,225 —
Interest payable ..................................... 34,341 24,878 (167)
Net cash provided by (used in) operating activities ....... (130,442) (90,875) 31,035
INVESTING ACTIVITIES:
Sales and maturities of marketable securities ................... 545,724 2,064,101 227,789
Purchases of marketable securities ........................... (184,455) (2,359,398) (504,435)
Purchases of fixed assets .................................. (134,758) (287,055) (28,333)
Investments in equity-method investees and other investments ...... (62,533) (369,607) (19,019)
Net cash provided by (used in) investing activities ........ 163,978 (951,959) (323,998)
FINANCING ACTIVITIES:
Proceeds from exercise of stock options ...................... 44,697 64,469 14,366
Proceeds from long-term debt .............................. 681,499 1,263,639 325,987
Repayment of long-term debt .............................. (16,927) (188,886) (78,108)
Financing costs ........................................ (16,122) (35,151) (7,783)
Net cash provided by financing activities .............. 693,147 1,104,071 254,462
Effect of exchange-rate changes on cash and cash equivalents ...... (37,557) 489 (35)
Net increase (decrease) in cash and cash equivalents ............. 689,126 61,726 (38,536)
CASH AND CASH EQUIVALENTS, END OF PERIOD ......... $ 822,435 $ 133,309 $ 71,583
SUPPLEMENTAL CASH FLOW INFORMATION:
Fixed assets acquired under capital leases ..................... $ 4,459 $ 25,850 $ —
Fixed assets acquired under financing agreements ............... 4,844 5,608 —
Stock issued in connection with business acquisitions ............. 32,130 774,409 217,241
Equity securities received for commercial agreements ............ 106,848 54,402 —
Cash paid for interest .................................... 92,253 59,688 26,629
See accompanying notes to consolidated financial statements.
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