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ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Millions) (Unaudited) | |||||||
| Three Months Ended | |||||||
| March 30,
2024 | April 1,
2023 | ||||||
| Cash flows from operating activities: | |||||||
| Net income (loss) | $ | 123 | $ | (139 | ) | ||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 784 | 982 | |||||
| Stock-based compensation | 371 | 309 | |||||
| Amortization of operating lease right-of-use assets | 26 | 24 | |||||
| Deferred income taxes | (66 | ) | (308 | ) | |||
| Inventory loss at contract manufacturer | 65 | — | |||||
| Other | (22 | ) | 5 | ||||
| Changes in operating assets and liabilities | |||||||
| Accounts receivable, net | 338 | 86 | |||||
| Inventories | (368 | ) | (464 | ) | |||
| Prepaid expenses and other assets | (322 | ) | (191 | ) | |||
| Receivables from and payables to related parties, net | 53 | (109 | ) | ||||
| Accounts payable | (636 | ) | 73 | ||||
| Accrued and other liabilities | 175 | 218 | |||||
| Net cash provided by operating activities | 521 | 486 | |||||
| Cash flows from investing activities: | |||||||
| Purchases of property and equipment | (142 | ) | (158 | ) | |||
| Purchases of short-term investments | (433 | ) | (1,703 | ) | |||
| Proceeds from maturity of short-term investments | 441 | 473 | |||||
| Proceeds from sale of short-term investments | 2 | 145 | |||||
| Other | (3 | ) | 6 | ||||
| Net cash used in investing activities | (135 | ) | (1,237 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from sales of common stock through employee equity plans | 5 | 3 | |||||
| Repurchases of common stock | (4 | ) | (241 | ) | |||
| Common stock repurchases for tax withholding on employee equity plans | (129 | ) | (21 | ) | |||
| Other | (1 | ) | — | ||||
| Net cash used in financing activities | (129 | ) | (259 | ) | |||
| Net increase (decrease) in cash and cash equivalents | 257 | (1,010 | ) | ||||
| Cash and cash equivalents at beginning of period | 3,933 | 4,835 | |||||
| Cash and cash equivalents at end of period | $ | 4,190 | $ | 3,825 | |||
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AMD Reports First Quarter 2024 Financial Results
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