Intel 2009 Annual Report Download - page 60

Table of Contents
INTEL CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
See accompanying notes.
52
Three Years Ended December 26, 2009
(In Millions)
2009 2008 2007
Cash and cash equivalents, beginning of year
$
3,350
$
7,307
$
6,598
Cash flows provided by (used for) operating activities:
Net income
4,369
5,292
6,976
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
4,744
4,360
4,546
Share
-
based compensation
889
851
952
Restructuring, asset impairment, and net loss on retirement of assets
368
795
564
Excess tax benefit from share
-
based payment arrangements
(9
)
(30
)
(118
)
Amortization of intangibles and other acquisition
-
related costs
308
256
252
(Gains) losses on equity method investments, net
147
1,380
(3
)
(Gains) losses on other equity investments, net
23
376
(154
)
(Gains) losses on divestitures
—
(
59
)
(21
)
Deferred taxes
271
(790
)
(443
)
Changes in assets and liabilities:
Trading assets
299
193
(1,429
)
Accounts receivable
(535
)
260
316
Inventories
796
(395
)
700
Accounts payable
(506
)
29
102
Accrued compensation and benefits
247
(569
)
354
Income taxes payable and receivable
110
(834
)
(248
)
Other assets and liabilities
(351
)
(189
)
279
Total adjustments
6,801
5,634
5,649
Net cash provided by operating activities
11,170
10,926
12,625
Cash flows provided by (used for) investing activities:
Additions to property, plant and equipment
(4,515
)
(5,197
)
(5,000
)
Acquisitions, net of cash acquired
(853
)
(16
)
(76
)
Purchases of
available
-
for
-
sale
investments
(8,655
)
(6,479
)
(11,728
)
Maturities and sales of
available
-
for
-
sale
investments
7,756
7,993
8,011
Purchases of trading assets
(4,186
)
(2,676
)
—
Maturities and sales of trading assets
2,543
1,766
—
Loans receivable
(343
)
—
—
Investments in non
-
marketable equity investments
(250
)
(1,691
)
(1,459
)
Return of equity method investment
449
316
—
Proceeds from divestitures
—
85
32
Other investing activities
89
34
294
Net cash used for investing activities
(7,965
)
(5,865
)
(9,926
)
Cash flows provided by (used for) financing activities:
Increase (decrease) in short
-
term debt, net
(87
)
(40
)
(39
)
Proceeds from government grants
—
182
160
Excess tax benefit from share
-
based payment arrangements
9
30
118
Issuance of long
-
term debt
1,980
—
125
Proceeds from sales of shares through employee equity incentive plans
400
1,105
3,052
Repurchase and retirement of common stock
(1,762
)
(7,195
)
(2,788
)
Payment of dividends to stockholders
(3,108
)
(3,100
)
(2,618
)
Net cash used for financing activities
(2,568
)
(9,018
)
(1,990
)
Net increase (decrease) in cash and cash equivalents
637
(3,957
)
709
Cash and cash equivalents, end of year
$
3,987
$
3,350
$
7,307
Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest, net of amounts capitalized of $86 in 2009 ($86 in 2008 and $57 in 2007)
$
4
$
6
$
15
Income taxes, net of refunds
$
943
$
4,007
$
2,762