| SUNEDISON SEMICONDUCTOR LIMITED AND SUBSIDIARIES | |||||||||||||||||||
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||||||
| (In millions) | |||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||
| June 30, 2016 | March 31, 2016 | June 30, 2015 | June 30, 2016 | June 30, 2015 | |||||||||||||||
| Cash flows from operating activities: | |||||||||||||||||||
| Net loss | $ | (48.5 | ) | $ | (117.1 | ) | $ | (15.5 | ) | $ | (165.6 | ) | $ | (24.8 | ) | ||||
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||||||||||||||
| Depreciation and amortization | 28.5 | 26.5 | 27.8 | 55.0 | 57.5 | ||||||||||||||
| Loss on partial sale of SMP investment | — | 6.1 | — | 6.1 | — | ||||||||||||||
| Long-lived asset impairment charges | 14.7 | — | 1.2 | 14.7 | 1.3 | ||||||||||||||
| Stock-based compensation | 4.1 | 3.9 | 3.4 | 8.0 | 7.0 | ||||||||||||||
| Provision for deferred taxes | 2.5 | 0.4 | 0.5 | 2.9 | 4.0 | ||||||||||||||
| Equity in loss of equity method investments | 11.0 | 86.2 | 0.7 | 97.2 | 1.0 | ||||||||||||||
| Other | 0.6 | 1.5 | — | 2.1 | (0.5 | ) | |||||||||||||
| Changes in assets and liabilities: | |||||||||||||||||||
| Accounts receivable | (2.1 | ) | (8.1 | ) | (5.7 | ) | (10.2 | ) | (9.6 | ) | |||||||||
| Inventories | (2.6 | ) | 0.5 | 9.1 | (2.1 | ) | 14.8 | ||||||||||||
| Accounts receivable, affiliate | — | — | (2.9 | ) | — | (8.0 | ) | ||||||||||||
| Accounts payable, affiliate | — | — | (1.0 | ) | — | 12.4 | |||||||||||||
| Prepaid and other current assets | (5.0 | ) | 7.2 | (1.0 | ) | 2.2 | (1.4 | ) | |||||||||||
| Accounts payable and accrued liabilities | 9.4 | (5.7 | ) | 7.0 | 3.7 | 14.8 | |||||||||||||
| Income taxes payable | (5.3 | ) | 3.6 | (2.7 | ) | (1.7 | ) | 0.4 | |||||||||||
| Pension and post-employment liabilities | (0.3 | ) | (0.3 | ) | (0.4 | ) | (0.6 | ) | (0.5 | ) | |||||||||
| Restructuring liabilities | (0.2 | ) | 0.2 | (5.7 | ) | — | (6.3 | ) | |||||||||||
| Other | 4.3 | 6.1 | (1.3 | ) | 10.4 | (14.0 | ) | ||||||||||||
| Net cash provided by operating activities | 11.1 | 11.0 | 13.5 | 22.1 | 48.1 | ||||||||||||||
| Cash flows from investing activities: | |||||||||||||||||||
| Capital expenditures | (16.9 | ) | (41.0 | ) | (24.1 | ) | (57.9 | ) | (52.9 | ) | |||||||||
| Disbursements made for notes receivable | — | — | — | — | (9.1 | ) | |||||||||||||
| Other | 3.9 | 2.5 | — | 6.4 | — | ||||||||||||||
| Net cash used in investing activities | (13.0 | ) | (38.5 | ) | (24.1 | ) | (51.5 | ) | (62.0 | ) | |||||||||
| Cash flows from financing activities: | |||||||||||||||||||
| Principal payments on long-term debt | (0.4 | ) | (0.4 | ) | (0.5 | ) | (0.8 | ) | (1.0 | ) | |||||||||
| Proceeds from long-term debt | — | 4.2 | — | 4.2 | — | ||||||||||||||
| Change in ordinary shares | (0.3 | ) | — | (0.9 | ) | (0.3 | ) | (0.9 | ) | ||||||||||
| Net proceeds on short-term borrowings | 1.1 | 1.6 | — | 2.7 | 7.6 | ||||||||||||||
| Advanced payments | 0.9 | 17.7 | — | 18.6 | — | ||||||||||||||
| Other | (0.1 | ) | — | (0.1 | ) | (0.1 | ) | — | |||||||||||
| Net cash provided by (used in) financing activities | 1.2 | 23.1 | (1.5 | ) | 24.3 | 5.7 | |||||||||||||
| Effect of exchange rate changes on cash and cash equivalents | 0.2 | 0.6 | 0.1 | 0.8 | (1.4 | ) | |||||||||||||
| Net decrease in cash and cash equivalents | (0.5 | ) | (3.8 | ) | (12.0 | ) | (4.3 | ) | (9.6 | ) | |||||||||
| Cash and cash equivalents at beginning of period | 79.7 | 83.5 | 90.6 | 83.5 | 88.2 | ||||||||||||||
| Cash and cash equivalents at end of period | $ | 79.2 | $ | 79.7 | $ | 78.6 | $ | 79.2 | $ | 78.6 | |||||||||
