CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
| Six months ended |
March 2,
2023 |
March 3,
2022 | ||||
| Cash flows from operating activities | ||||||
| Net income (loss) | $ | (2,507 | ) | $ | 4,569 | |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
| Depreciation expense and amortization of intangible assets | 3,863 | 3,413 | ||||
| Provision to write-down inventories to net realizable value | 1,430 | — | ||||
| Stock-based compensation | 303 | 247 | ||||
| (Gain) loss on debt repurchases | — | 83 | ||||
| Change in operating assets and liabilities: | ||||||
| Receivables | 2,910 | (44 | ) | |||
| Inventories | (2,896 | ) | (900 | ) | ||
| Accounts payable and accrued expenses | (1,795 | ) | 107 | |||
| Other | (22 | ) | 91 | |||
| Net cash provided by operating activities | 1,286 | 7,566 | ||||
| Cash flows from investing activities | ||||||
| Expenditures for property, plant, and equipment | (4,654 | ) | (5,876 | ) | ||
| Purchases of available-for-sale securities | (293 | ) | (922 | ) | ||
| Proceeds from maturities of available-for-sale securities | 765 | 631 | ||||
| Proceeds from government incentives | 64 | 66 | ||||
| Proceeds from sales of available-for-sale securities | 8 | 172 | ||||
| Proceeds from sale of Lehi, Utah fab | — | 893 | ||||
| Other | (71 | ) | (140 | ) | ||
| Net cash provided by (used for) investing activities | (4,181 | ) | (5,176 | ) | ||
| Cash flows from financing activities | ||||||
| Proceeds from issuance of debt | 5,221 | 2,000 | ||||
| Repurchases of common stock - repurchase program | (425 | ) | (667 | ) | ||
| Payments of dividends to shareholders | (252 | ) | (224 | ) | ||
| Payments on equipment purchase contracts | (76 | ) | (105 | ) | ||
| Repayments of debt | (53 | ) | (1,981 | ) | ||
| Other | 19 | (2 | ) | |||
| Net cash provided by (used for) financing activities | 4,434 | (979 | ) | |||
| Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | 9 | (16 | ) | |||
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 1,548 | 1,395 | ||||
| Cash, cash equivalents, and restricted cash at beginning of period | 8,339 | 7,829 | ||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 9,887 | $ | 9,224 | ||
