Dan,
Take a look at AMD's Balance Sheet (BS) and Statement of Cash Flows (SCF). This information was copied directly off of freeedgar.com....
AMD, as of Last Q, was a net borrower of 330M. Now the next line is payments of debt, etc. Notice that figure of 2.778M? That is what they paid towards their debt.
Additionally, here is a discussion of how they got the money...
Net cash provided by financing activities was $338 million during the first
quarter of 2001. Major uses of cash during the period included $3 million in
payments on debt and capital lease obligations offset by $320 million in
proceeds from Dresden FAB 30 borrowing activities, $10 million in proceeds from
Dresden FAB 30 foreign grants and subsidies and $9 million in proceeds from
issuance of stock.
Net cash provided by financing activities was $51 million in the first quarter
of 2000 primarily due to $52 million in proceeds from issuance of stock in
connection with stock option exercises and purchases under our Employee Stock
Purchase Plan.
Assets
------
Current assets:
Cash and cash equivalents $1,055,776 $ 591,457
Short-term investments 539,780 701,708
---------- ----------
Total cash, cash equivalents and short-term investments 1,595,556 1,293,165
Accounts receivable, net of allowance for doubtful accounts 602,067 547,200
Inventories:
Raw materials 44,470 34,413
Work-in-process 171,873 154,854
Finished goods 138,287 154,274
---------- ----------
Total inventories 354,630 343,541
Deferred income taxes 189,185 218,527
Prepaid expenses and other current assets 139,661 255,256
---------- ----------
Total current assets 2,881,099 2,657,689
Property, plant and equipment, at cost 5,621,154 5,461,801
Accumulated depreciation and amortization (2,957,250) (2,825,334)
---------- ----------
Property, plant and equipment, net 2,663,904 2,636,467
Investment in joint venture 249,866 261,728
Other assets 234,536 211,851
---------- ----------
$6,029,405 $5,767,735
========== ==========
Liabilities and Stockholders' Equity
------------------------------------
Current liabilities:
Accounts payable $377,067 $477,369
Accrued compensation and benefits 139,477 172,815
Accrued liabilities 278,092 276,721
Income taxes payable 84,286 74,806
Deferred income on shipments to distributors 99,286 92,828
Current portion of long-term debt, capital lease obligations and other 183,525 129,570
---------- ----------
Total current liabilities 1,161,733 1,224,109
Deferred income taxes 198,066 203,986
Long-term debt, capital lease obligations and other, less current portion 1,392,970 1,167,973
Commitments and contingencies
Stockholders' equity:
Common stock, par value 3,160 3,141
Capital in excess of par value 1,422,593 1,406,290
Retained earnings 1,981,098 1,856,261
Accumulated other comprehensive loss (130,215) (94,025)
---------- ----------
Total stockholders' equity 3,276,636 3,171,667
---------- ----------
$6,029,405 $5,767,735
Cash flows from operating activities:
Net income $ 124,837 $ 189,349
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 152,933 127,892
Net change in deferred income taxes 23,422 (515)
Foreign grant and subsidy income (10,937) (11,711)
Net loss (gain) on disposal of property, plant and equipment 4,119 (3,035)
Undistributed (income) loss of joint venture (13,183) 969
Recognition of deferred gain on sale of building (421) (420)
Net compensation recognized under employee stock plans 984 1,053
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable (55,160) 24,405
(Increase) in inventories (11,131) (6,752)
(Increase) decrease in prepaid expenses (2,506) 692
Decrease (increase) in other assets 92,978 (4,926)
Increase (decrease) in tax refund receivable and tax payable 7,152 (6,547)
(Refund) receipt of customer deposits under purchase agreements (30,000) 100,000
(Decrease) increase in payables and accrued liabilities (107,473) 199,623
(Decrease) in accrued compensation (33,338) (223,314)
Income tax benefits from employee stock option exercises 4,480 -
---------- ---------
Net cash provided by operating activities 146,756 386,763
Cash flows from investing activities:
Purchases of property, plant and equipment (162,713) (129,027)
Proceeds from sale of property, plant and equipment 299 9,049
Purchases of available-for-sale securities (743,835) (729,799)
Proceeds from sale/maturity of available-for-sale securities 886,956 495,666
---------- ---------
Net cash provided by (used in) investing activities (19,293) (354,111)
Cash flows from financing activities:
Proceeds from borrowings 330,138 3,598
Payments on debt and capital lease obligations (2,778) (4,246)
Proceeds from issuance of stock and other 10,858 51,557
---------- ---------
Net cash provided by financing activities 338,218 50,909
Effect of exchange rate changes on cash and cash equivalents (1,362) 2,468
---------- ---------
Net increase in cash and cash equivalents 464,319 86,029
Cash and cash equivalents at beginning of period 591,457 294,125
--------- ---------
Cash and cash equivalents at end of period $1,055,776 $ 380,154
========== =========
Supplemental disclosures of cash flow information:
Cash paid for:
Interest $ 7,953 $ 25,507
========== =========
Income taxes $ 8,351 $ 3,215 |
