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
6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Cash flows from operating activities:    
Net income $ 319 $ 51
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 140 98
Stock-based compensation 119 86
Amortization of debt discount and issuance costs 8 18
Amortization of operating lease right-of-use assets 20 18
Loss on debt redemption 0 8
Loss on sale/disposal of property and equipment 26 8
Other 8 (4)
Changes in operating assets and liabilities:    
Accounts receivable, net 64 (98)
Inventories (342) (170)
Receivables from related parties 10 4
Prepaid expenses and other assets (12) (9)
Payables to related parties (21) (6)
Accounts payable, accrued liabilities and other (161) (187)
Net cash provided by (used in) operating activities 178 (183)
Cash flows from investing activities:    
Purchases of property and equipment (146) (120)
Purchases of available-for-sale debt securities (55) (231)
Proceeds from maturity of available-for-sale debt securities 92 144
Collection of deferred proceeds on sale of receivables 0 25
Other 0 2
Net cash used in investing activities (109) (180)
Cash flows from financing activities:    
Proceeds from short-term debt borrowing 200 0
Repayment of debt 0 (234)
Proceeds from warrant exercise 0 449
Proceeds from sales of common stock through employee equity plans 42 35
Other (2) (2)
Net cash provided by financing activities 240 248
Net increase (decrease) in cash, cash equivalents, and restricted cash 309 (115)
Cash, cash equivalents, and restricted cash at beginning of period 1,470 1,083
Cash, cash equivalents, and restricted cash at end of period 1,779 968
Non-cash investing and financing activities:    
Purchases of property and equipment, accrued but not paid 52 119
Transfer of assets for the acquisition of property and equipment 41 0
Issuance of treasury stock to partially settle debt 0 7
Operating lease right-of-use assets acquired by assuming related liabilities 30 10
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 1,775 963
Restricted cash included in Prepaid expenses and other current assets 4 5
Total cash, cash equivalents, and restricted cash $ 1,779 $ 968