Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 26, 2020
Sep. 28, 2019
Cash flows from operating activities:    
Net income $ 709 $ 171
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 222 158
Stock-based compensation 195 140
Amortization of debt discount and issuance costs 12 25
Amortization of operating lease right-of-use assets 31 27
Loss on debt redemption, repurchase and conversion 38 48
Loss on sale/disposal of property and equipment 28 34
Other 12 (13)
Changes in operating assets and liabilities:    
Accounts receivable, net (287) (158)
Inventories (310) (195)
Receivables from related parties 16 17
Prepaid expenses and other assets (172) (32)
Payables to related parties (98) 8
Accounts payable, accrued liabilities and other 121 (179)
Net cash provided by operating activities 517 51
Cash flows from investing activities:    
Purchases of property and equipment (220) (175)
Purchases of short-term investments (530) (284)
Proceeds from maturity of short-term investments 92 309
Collection of deferred proceeds on sale of receivables 0 25
Other 0 2
Net cash used in investing activities (658) (123)
Cash flows from financing activities:    
Proceeds from short-term debt borrowings 200 0
Repayment and extinguishment of debt (200) (331)
Proceeds from warrant exercise 0 449
Proceeds from sales of common stock through employee equity plans 45 38
Common stock repurchases for tax withholding on employee equity plans 73 6
Other (1) 0
Net cash provided by (used in) financing activities (29) 150
Net increase (decrease) in cash, cash equivalents, and restricted cash (170) 78
Cash, cash equivalents, and restricted cash at beginning of period 1,470 1,083
Cash, cash equivalents, and restricted cash at end of period 1,300 1,161
Non-cash investing and financing activities:    
Purchases of property and equipment, accrued but not paid 36 120
Issuance of common stock to settle convertible debt 156 108
Issuance of treasury stock to partially settle debt 0 7
Transfer of assets for acquisition of property and equipment 57 0
Operating lease right-of-use assets acquired by assuming related liabilities 40 12
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 1,296 1,156
Restricted cash included in Prepaid expenses and other current assets 4 5
Total cash, cash equivalents, and restricted cash $ 1,300 $ 1,161