Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 29, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 51 $ 197
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 98 86
Stock-based compensation 86 65
Amortization of debt discount and issuance costs 18 20
Amortization of operating lease right-of-use assets 18 0
Loss on debt redemption 8 1
Loss on sale/disposal of property and equipment 8 0
Other (4) (1)
Changes in operating assets and liabilities:    
Accounts receivable (98) (693)
Inventories (170) (56)
Prepayments and receivables - related parties 4 (11)
Prepaid expenses and other assets (9) 58
Payables to related parties (6) 35
Accounts payable, accrued liabilities and other (187) 137
Net cash used in operating activities (183) (162)
Cash flows from investing activities:    
Purchases of property and equipment (120) (89)
Purchases of available-for-sale debt securities (231) (35)
Proceeds from maturity of available-for-sale debt securities 144 0
Collection of deferred proceeds on sale of receivables 25 31
Other 2 0
Net cash used in investing activities (180) (93)
Cash flows from financing activities:    
Repayments of short-term borrowings (70) 0
Proceeds from warrant exercise by related party 449 0
Proceeds from issuance of common stock through employee equity incentive plans 35 35
Repayments of long-term debt (164) (15)
Other (2) 0
Net cash provided by financing activities 248 20
Net decrease in cash, cash equivalents, and restricted cash (115) (235)
Cash, cash equivalents, and restricted cash at beginning of period 1,083 1,191
Cash, cash equivalents, and restricted cash at end of period 968 956
Non-cash activities:    
Purchases of property and equipment, accrued but not paid 119 34
Issuance of treasury stock to partially settle debt 7 0
Deferred proceeds on sale of receivables 0 29
Other 9 0
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 963 948
Restricted cash included in Prepaid expenses and other current assets 5 5
Restricted cash included in Other assets 0 3
Total cash, cash equivalents, and restricted cash $ 1,083 $ 1,191