Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 28, 2020
Mar. 30, 2019
Cash flows from operating activities:    
Net income $ 162 $ 16
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 68 46
Stock-based compensation 59 41
Amortization of debt discount and issuance costs 4 9
Amortization of operating lease right-of-use assets 10 9
Loss on debt redemption 0 8
Loss on sale/disposal of property and equipment 18 6
Other 3 (1)
Changes in operating assets and liabilities:    
Accounts receivable, net 168 (5)
Inventories, net (74) (110)
Prepayment and receivables—related parties 3 (4)
Prepaid expenses and other assets (31) (14)
Payables to related parties (26) (6)
Accounts payable, accrued liabilities and other (429) (208)
Net cash used in operating activities (65) (213)
Cash flows from investing activities:    
Purchases of property and equipment (55) (62)
Purchases of available-for-sale debt securities (55) (231)
Proceeds from maturity of available-for-sale debt securities 37 93
Collection of deferred proceeds on sale of receivables 0 25
Other 0 2
Net cash used in investing activities (73) (173)
Cash flows from financing activities:    
Repayments of debt 0 (164)
Proceeds from warrant exercise 0 449
Proceeds from sales of common stock through employee equity plans 3 1
Other (1) 0
Net cash provided by financing activities 2 286
Net decrease in cash, cash equivalents, and restricted cash (136) (100)
Cash, cash equivalents, and restricted cash at beginning of period 1,470 1,083
Cash, cash equivalents, and restricted cash at end of period 1,334 983
Non-cash investing and financing activities:    
Purchases of property and equipment, accrued but not paid 99 62
Transfer of assets for the acquisition of property and equipment 13 0
Issuance of treasury stock to partially settle debt 0 7
Operating lease right-of-use assets acquired by assuming related liabilities 25 3
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 1,330 978
Restricted cash included in Prepaid expenses and other current assets 4 5
Total cash, cash equivalents, and restricted cash $ 1,334 $ 983