SanDisk 2014 Annual Report Download - page 69
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Reconciliation of Cash Provided by Operating Activities to Free Cash Flow.
Fiscal Year Ended
December 28, 2014
(In millions)
Net cash provided by operating activities ..................................... $1,698
Acquisition of property and equipment, net .................................... (233)
Investment in Flash Ventures .............................................. (24)
Notes receivable proceeds from Flash Ventures, net .............................. 50
Free cash flow ...................................................... $1,491
Limitations of Relying on Non-GAAP Financial Measures. The Company has incurred and will incur in
the future, many of the costs that the Company excludes from the non-GAAP measures, including share-
based compensation expense, impairment of goodwill and acquisition-related intangible assets,
amortization of acquisition-related intangible assets and other acquisition-related costs, non-cash
economic interest expense associated with the Company’s convertible debt and income tax adjustments.
These measures should be considered in addition to results prepared in accordance with GAAP, but should
not be considered a substitute for, or superior to, GAAP results. These non-GAAP measures may be
different than the non-GAAP measures used by other companies.
A-3
Proxy Statement