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ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Millions) (Unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 29,
2024 | July 1,
2023 | June 29,
2024 | July 1,
2023 | |||||||||||||
| Cash flows from operating activities: | ||||||||||||||||
| Net income (loss) | $ | 265 | $ | 27 | $ | 388 | $ | (112 | ) | |||||||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||||||
| Depreciation and amortization | 769 | 849 | 1,553 | 1,831 | ||||||||||||
| Stock-based compensation | 346 | 348 | 717 | 657 | ||||||||||||
| Amortization of operating lease right-of-use assets | 26 | 24 | 52 | 48 | ||||||||||||
| Deferred income taxes | (190 | ) | (274 | ) | (256 | ) | (582 | ) | ||||||||
| Inventory loss at contract manufacturer | — | — | 65 | — | ||||||||||||
| Other | (15 | ) | (13 | ) | (37 | ) | (8 | ) | ||||||||
| Changes in operating assets and liabilities | ||||||||||||||||
| Accounts receivable, net | (711 | ) | (272 | ) | (373 | ) | (186 | ) | ||||||||
| Inventories | (342 | ) | (332 | ) | (710 | ) | (796 | ) | ||||||||
| Prepaid expenses and other assets | 88 | (46 | ) | (234 | ) | (237 | ) | |||||||||
| Receivables from and payables to related parties, net | (11 | ) | (41 | ) | 42 | (150 | ) | |||||||||
| Accounts payable | 280 | 236 | (356 | ) | 309 | |||||||||||
| Accrued and other liabilities | 88 | (127 | ) | 263 | 91 | |||||||||||
| Net cash provided by operating activities | 593 | 379 | 1,114 | 865 | ||||||||||||
| Cash flows from investing activities: | ||||||||||||||||
| Purchases of property and equipment | (154 | ) | (125 | ) | (296 | ) | (283 | ) | ||||||||
| Purchases of short-term investments | (132 | ) | (1,113 | ) | (565 | ) | (2,816 | ) | ||||||||
| Proceeds from maturity of short-term investments | 761 | 698 | 1,202 | 1,171 | ||||||||||||
| Proceeds from sale of short-term investments | — | 103 | 2 | 248 | ||||||||||||
| Other | (89 | ) | (1 | ) | (92 | ) | 5 | |||||||||
| Net cash provided by (used in) investing activities | 386 | (438 | ) | 251 | (1,675 | ) | ||||||||||
| Cash flows from financing activities: | ||||||||||||||||
| Repayment of debt | (750 | ) | — | (750 | ) | — | ||||||||||
| Proceeds from sales of common stock through employee equity plans | 143 | 141 | 148 | 144 | ||||||||||||
| Repurchases of common stock | (352 | ) | — | (356 | ) | (241 | ) | |||||||||
| Common stock repurchases for tax withholding on employee equity plans | (97 | ) | (66 | ) | (226 | ) | (87 | ) | ||||||||
| Other | — | — | (1 | ) | — | |||||||||||
| Net cash used in financing activities | (1,056 | ) | 75 | (1,185 | ) | (184 | ) | |||||||||
| Net increase (decrease) in cash and cash equivalents | (77 | ) | 16 | 180 | (994 | ) | ||||||||||
| Cash and cash equivalents at beginning of period | 4,190 | 3,825 | 3,933 | 4,835 | ||||||||||||
| Cash and cash equivalents at end of period | $ | 4,113 | $ | 3,841 | $ | 4,113 | $ | 3,841 | ||||||||
AMD Reports Second Quarter 2024 Financial Results
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