Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 26, 2022
Mar. 27, 2021
Cash flows from operating activities:    
Net income $ 786 $ 555
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 609 95
Stock-based compensation 199 85
Amortization of operating lease right-of-use assets 19 12
Loss on debt redemption, repurchase and conversion 0 6
Loss on sale or disposal of property and equipment 15 8
Deferred income taxes (342) 73
Equity Securities, FV-NI, Gain (Loss) 44 (8)
Other (2) (1)
Changes in operating assets and liabilities    
Accounts receivable, net (672) (112)
Inventories (26) (254)
Receivables from related parties (1) 3
Prepaid expenses and other assets (260) 33
Payables to related parties 121 (38)
Accounts payable 4 466
Accrued liabilities and other 412 (41)
Net cash provided by operating activities 995 898
Cash flows from investing activities:    
Purchases of property and equipment (71) (66)
Purchases of short-term investments (100) (858)
Proceeds from maturity of short-term investments 964 200
Cash Acquired from Acquisition 2,366 0
Other (1) 2
Net cash provided by (used in) investing activities 3,158 (722)
Cash flows from financing activities:    
Proceeds from sales of common stock through employee equity plans 2 2
Payments for Repurchase of Common Stock (1,914) 0
Common stock repurchases for tax withholding on employee equity plans (35) (10)
Proceeds from (Payments for) Other Financing Activities (1) 0
Net cash used in financing activities (1,948) (8)
Net increase in cash, cash equivalents, and restricted cash 2,205 168
Cash, cash equivalents, and restricted cash at beginning of period 2,535 1,595
Cash, cash equivalents, and restricted cash at end of period 4,740 1,763
Non-cash investing and financing activities:    
Purchases of property and equipment, accrued but not paid 67 34
Issuance of common stock to settle convertible debt 0 24
Transfer of assets for acquisition of property and equipment 13 34
Operating lease right-of-use assets acquired by assuming related liabilities 7 58
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 4,740  
Total cash and cash equivalents 4,740 1,763
Proceeds from (Payments for) Other Financing Activities (1) 0
Depreciation and amortization 609 95
Common and Treasury Stock Issued    
Non-cash investing and financing activities:    
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable 48,514 0
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable 48,514 0
Pre-Combination Unvested Restricted Stock Units Assumed    
Non-cash investing and financing activities:    
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable 275 0
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable 275 0
Amortization of Inventory FV Adjustment    
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 89 0
Depreciation and amortization $ 89 $ 0