Crucial 2011 Annual Report Download - page 49
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MICRON TECHNOLOGY, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
For the year ended
September 1,
2011
September 2,
2010
September 3,
2009
Cash flows from operating activities
Net income (loss)
$
190
$
1,900
$
(1,993
)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation expense and amortization of intangible assets
2,105
1,922
2,114
Amortization of debt discount and other costs
57
83
72
Equity in net losses of equity method investees, net of tax
158
39
140
Loss on extinguishment of debt
113
—
—
Stock-based compensation
76
93
44
Provision to write-down inventories to estimated market values
9
27
603
Gain from disposition of Japan Fab
(54
)
—
—
Restructure charges (credits)
(32
)
(17
)
156
(Gain) loss from disposition of property, plant and equipment
(17
)
(1
)
54
Gain from acquisition of Numonyx
—
(
437
)
—
Gain from Inotera and Hynix JV stock issuances, net
—
(
52
)
—
Change in operating assets and liabilities:
Receivables
54
(516
)
126
Inventories
(357
)
(121
)
(356
)
Accounts payable and accrued expenses
(84
)
54
44
Deferred income
146
84
81
Deferred income taxes, net
103
(45
)
(15
)
Other
17
83
136
Net cash provided by operating activities
2,484
3,096
1,206
Cash flows from investing activities
Expenditures for property, plant and equipment
(2,550
)
(616
)
(488
)
Acquisition of noncontrolling interests in TECH
(159
)
—
—
Additions to equity method investments
(31
)
(165
)
(408
)
Decrease (increase) in restricted cash
330
(240
)
(56
)
Proceeds from sales of property, plant and equipment
127
94
26
Return of equity method investment
48
—
41
Proceeds from sale of interest in Hynix JV
—
423
—
Cash acquired from acquisition of Numonyx
—
95
—
Proceeds from maturities of available-for-sale securities
—
—
130
Other
34
(39
)
81
Net cash used for investing activities
(2,201
)
(448
)
(674
)
Cash flows from financing activities
Repayments of debt
(1,215
)
(840
)
(429
)
Payments on equipment purchase contracts
(322
)
(330
)
(144
)
Distributions to noncontrolling interests
(225
)
(267
)
(705
)
Cash paid to purchase common stock
(163
)
(21
)
(2
)
Cash paid to purchase capped calls
(57
)
—
(
25
)
Proceeds from debt
690
200
716
Proceeds from equipment sale-leaseback transactions
268
—
4
Proceeds from issuance of common stock
28
8
277
Cash received from noncontrolling interests
8
38
24
Other
(48
)
(8
)
(6
)
Net cash used for financing activities
(1,036
)
(1,220
)
(290
)