In all fairness to AMD, they had a decent quarter. While cash declined slightly, A/R increased.
Focus on my bold....
Current Assets (excluding cash, declined slightly QoQ) thus providing Cash. Current Liablities increased QoQ, thus providing cash.
Take a look at PP&E, net. PP&E increased QoQ and that even includes depreciation. It appears that one of the primary reasons cash declined QoQ, was due to CapEx.
Advanced Micro Devices, Inc.
CONSOLIDATED BALANCE SHEETS
(Thousands)
Dec. 30, Sept. 30, Dec. 31,
2001 2001 2000(a)
---------- ----------- ----------
(unaudited) (unaudited)
Assets
Current assets:
Cash, cash equivalents
and short-term investments $ 869,997 $ 903,534 $ 1,293,165
Accounts receivable, net 659,783 588,563 547,200
Inventories 380,474 449,078 343,541
Deferred income taxes 155,898 168,846 218,527
Prepaid expenses and other
current assets 286,957 289,722 255,256
----------- ---------- ---------
Total current assets 2,353,109 2,399,743 2,657,689
Property, plant and equipment,
net 2,739,138 2,715,292 2,636,467
Investment in joint venture 363,611 396,351 261,728
Other assets 191,384 227,819 211,851
----------- ----------- ----------
$5,647,242 $ 5,739,205 $ 5,767,735
=========== =========== ===========
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 304,990 $ 369,064 $ 477,369
Accrued compensation and
benefits 129,042 143,987 172,815
Accrued liabilities 443,995 382,797 276,721
Income tax payable 56,234 49,591 74,806
Deferred income on shipments
to distributors 47,978 34,620 92,828
Current portion of long-term
debt, capital lease
obligations and other 331,698 192,487 129,570
----------- ---------- ----------
Total current liabilities 1,313,937 1,172,546 1,224,109
Deferred income taxes 105,305 139,850 203,986
Long-term debt, capital lease
obligations and other, less
current portion 672,945 796,021 1,167,973
Stockholders' equity:
Capital stock:
Common stock, par value 3,405 3,471 3,141
Capital in excess of par
value 1,889,217 1,959,483 1,406,290
Retained earnings 1,795,680 1,811,522 1,856,261
Accumulated other
comprehensive loss (133,247) (74,851) (94,025)
----------- ---------- ---------
Total stockholders'
equity 3,555,055 3,630,788 3,171,667
----------- ---------- ---------
$5,647,242 $5,739,205 $5,767,735 |
