Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 26, 2020
Dec. 28, 2019
Dec. 29, 2018
Cash flows from operating activities:      
Net income $ 2,490 $ 341 $ 337
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 312 222 170
Stock-based compensation 274 197 137
Amortization of debt discount and issuance costs 14 30 38
Amortization of operating lease right-of-use assets 42 36 0
Loss on debt redemption, repurchase and conversion 54 176 12
Loss on sale/disposal of property and equipment 33 42 27
Impairment of technology licenses 0 0 45
Deferred income taxes (1,223) (7) (4)
Other 6 (2) (1)
Changes in operating assets and liabilities:      
Accounts receivable, net (219) (623) (806)
Inventories (417) (137) (151)
Receivables from related parties 10 14 (28)
Prepaid expenses and other assets (231) (176) (70)
Payables to related parties (135) 7 35
Accounts payable (513) 153 212
Accrued liabilities and other 574 220 81
Net cash provided by operating activities 1,071 493 34
Cash flows from investing activities:      
Purchases of property and equipment (294) (217) (163)
Payments to Acquire Short-term Investments (850) (284) (123)
Proceeds from maturity of short-term investments 192 325 45
Collection of deferred proceeds on sale of receivables 0 25 71
Other 0 2 0
Net cash used in investing activities (952) (149) (170)
Cash flows from financing activities:      
Proceeds from short-term borrowings 200 0 0
Repayments and extinguishment of debt 200 473 41
Proceeds from Warrant Exercises 0 449 0
Proceeds from sales of common stock through employee equity plans 85 74 70
Common stock repurchases for tax withholding on employee equity plans (78) (6) (6)
Other (1) (1) 5
Net cash provided by financing activities 6 43 28
Net increase (decrease) in cash and cash equivalents, and restricted cash 125 387 (108)
Cash, cash equivalents and restricted cash at beginning of year 1,470 1,083 1,191
Cash, cash equivalents and restricted cash at end of year 1,595 1,470 1,083
Cash paid during the year for:      
Interest 31 67 79
Income taxes, net of refund 8 (4) (8)
Non-cash investing and financing activities:      
Purchases of property and equipment, accrued but not paid 31 65 49
Issuance of common stock to settle convertible debt 217 377 0
Transfer of assets for the acquisition of property and equipment 111 115 28
Issuance of treasury stock to partially settle debt 0 7 141
Deferred proceeds on sale of receivable 0 0 25
Non-cash activities for leases:      
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 45 22 0
Reconciliation of cash, cash equivalents, and restricted cash      
Total cash, cash equivalents, and restricted cash $ 1,595 $ 1,083 $ 1,191