AMD Reports Third Quarter 2017 Financial Results

ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Millions)
	Three Months Ended			Nine Months Ended
	September 30, 2017			September 30, 2017

Cash flows from operating activities:
Net Income (loss)	$	71		$	(18	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		36			105
Stock-based compensation expense		29			76
Non-cash interest expense		9			27
Loss on debt redemption		2			9
Other		3			4
Changes in operating assets and liabilities:
Accounts receivable		(157	)		(460	)
Inventories		39			(43	)
Prepayment and other receivables - related parties		(16	)		6
Prepaid expenses and other assets		(26	)		(82	)
Payables to related parties		70			61
Accounts payable, accrued liabilities and other		6			-
Net cash provided by (used in) operating activities	$	66		$	(315	)

Cash flows from investing activities:
Purchases of property, plant and equipment		(34	)		(69	)
Purchases of available-for-sale securities		-			(221	)
Proceeds from maturity of available-for-sale securities		85			221
Other		-			(2	)
Net cash provided by (used in) investing activities	$	51		$	(71	)

Cash flows from financing activities:
Proceeds from borrowings, net		28			70
Proceeds from issuance of common stock under stock-based compensation equity plans		5			15
Repayments of long-term debt		(28	)		(70	)
Other		(3	)		(14	)
Net cash provided by financing activities	$	2		$	1
Net increase (decrease) in cash and cash equivalents		119			(385	)
Cash and cash equivalents at beginning of period	$	760		$	1,264
Cash and cash equivalents at end of period	$	879		$	879

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