Intel 2012 Annual Report Download - page 54

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Three Years Ended December 29, 2012
(In Millions)
2012
2011
2010
Cash and cash equivalents, beginning of year .....................................................................................
$ 5,065
$ 5,498
$ 3,987
Cash flows provided by (used for) operating activities:
Net income............................................................................................................................................
11,005
12,942
11,464
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation................................................................................................................................
6,357
5,141
4,398
Share-based compensation.............................................................................................................
1,102
1,053
917
Excess tax benefit from share-based payment arrangements.........................................................
(142)
(37)
(65)
Amortization of intangibles...............................................................................................................
1,165
923
240
(Gains) losses on equity investments, net .......................................................................................
(141)
(112)
(348)
(Gains) losses on divestitures..........................................................................................................
—
(164)
—
Deferred taxes ................................................................................................................................
(242)
790
(46)
Changes in assets and liabilities:
Accounts receivable....................................................................................................................
(176)
(678)
(584)
Inventories ................................................................................................................................
(626)
(243)
(806)
Accounts payable .......................................................................................................................
67
596
407
Accrued compensation and benefits...........................................................................................
192
(95)
161
Income taxes payable and receivable ........................................................................................
229
660
53
Other assets and liabilities..........................................................................................................
94
187
901
Total adjustments ..................................................................................................................
7,879
8,021
5,228
Net cash provided by operating activities .............................................................................................
18,884
20,963
16,692
Cash flows provided by (used for) investing activities:
Additions to property, plant and equipment ..........................................................................................
(11,027)
(10,764)
(5,207)
Acquisitions, net of cash acquired ........................................................................................................
(638)
(8,721)
(218)
Purchases of available-for-sale investments ........................................................................................
(8,694)
(11,230)
(17,675)
Sales of available-for-sale investments ................................................................................................
2,282
9,076
506
Maturities of available-for-sale investments..........................................................................................
5,369
11,029
12,627
Purchases of trading assets..................................................................................................................
(16,892)
(11,314)
(8,944)
Maturities and sales of trading assets................................................................................................
15,786
11,771
8,846
Collection of loans receivable ...............................................................................................................
149
134
—
Origination of loans receivable..............................................................................................................
(216)
(206)
(498)
Investments in non-marketable equity investments ..............................................................................
(475)
(693)
(393)
Proceeds from the sale of IM Flash Singapore, LLP (IMFS) assets and certain IM Flash
Technologies, LLC (IMFT) assets................................................................................................
605
—
—
Return of equity method investments ................................................................................................
137
263
199
Purchases of licensed technology and patents.....................................................................................
(815)
(66)
(14)
Proceeds from divestitures ...................................................................................................................
—
50
—
Other investing................................................................................................................................
369
370
232
Net cash used for investing activities................................................................................................
(14,060)
(10,301)
(10,539)
Cash flows provided by (used for) financing activities:
Increase (decrease) in short-term debt, net..........................................................................................
65
209
23
Proceeds from government grants........................................................................................................
63
124
79
Excess tax benefit from share-based payment arrangements..............................................................
142
37
65
Issuance of long-term debt, net of issuance costs................................................................................
6,124
4,962
—
Repayment of debt................................................................................................................................
(125)
—
(157)
Proceeds from sales of shares through employee equity incentive plans ............................................
2,111
2,045
587
Repurchase of common stock ..............................................................................................................
(5,110)
(14,340)
(1,736)
Payment of dividends to stockholders ................................................................................................
(4,350)
(4,127)
(3,503)
Other financing................................................................................................................................
(328)
(10)
—
Net cash used for financing activities................................................................................................
(1,408)
(11,100)
(4,642)
Effect of exchange rate fluctuations on cash and cash equivalents ..................................................
(3)
5
—
Net increase (decrease) in cash and cash equivalents........................................................................
3,413
(433)
1,511
Cash and cash equivalents, end of year................................................................................................
$ 8,478
$ 5,065
$ 5,498
Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest, net of capitalized interest ................................................................................................
$ 71
$ —
$ —
Income taxes, net of refunds............................................................................................................
$ 3,930
$ 3,338
$ 4,627