Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 26, 2021
Jun. 27, 2020
Cash flows from operating activities:    
Net income $ 1,265 $ 319
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 192 140
Stock-based compensation 168 119
Amortization of debt discount and issuance costs 3 8
Amortization of operating lease right-of-use assets 25 20
Loss on debt conversion 6 0
Loss on sale/disposal of property and equipment 19 26
Deferred income taxes 145 1
Impairment of investment 8 0
Other (4) 7
Changes in operating assets and liabilities:    
Accounts receivable, net 46 64
Inventories (366) (342)
Receivables from related parties 4 10
Prepaid expenses and other assets (55) (12)
Payables to related parties (42) (21)
Accounts payable 346 (201)
Accrued liabilities and other 90 40
Net cash provided by operating activities 1,850 178
Cash flows from investing activities:    
Purchases of property and equipment (130) (146)
Purchases of short-term investments (1,130) (55)
Proceeds from maturity of short-term investments 655 92
Other 2 0
Net cash used in investing activities (603) (109)
Cash flows from financing activities:    
Proceeds from Lines of Credit 0 200
Proceeds from sales of common stock through employee equity plans 51 42
Payments for Repurchase of Common Stock (256) 0
Common stock repurchases for tax withholding on employee equity plans (14) (1)
Proceeds from (Payments for) Other Financing Activities 0 (1)
Net cash provided by (used in) financing activities (219) 240
Net increase (decrease) in cash, cash equivalents, and restricted cash 1,028 309
Cash, cash equivalents, and restricted cash at beginning of period 1,595 1,470
Cash, cash equivalents, and restricted cash at end of period 2,623 1,779
Non-cash investing and financing activities:    
Purchases of property and equipment, accrued but not paid 41 52
Issuance of common stock to settle convertible debt 25 0
Transfer of assets for acquisition of property and equipment 37 41
Operating lease right-of-use assets acquired by assuming related liabilities 77 30
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 2,623 1,775
Restricted cash included in Prepaid expenses and other current assets 0 4
Total cash, cash equivalents, and restricted cash 2,623 1,779
Proceeds from (Payments for) Other Financing Activities $ 0 $ (1)