|
ALTERA CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in thousands) | ||||||
|
|
|
| ||||
|
|
|
Three Months Ended | ||||
|
(In thousands) |
|
March 29, 2013 |
|
March 30, 2012 | ||
|
|
|
|
|
| ||
|
Cash Flows from Operating Activities: |
|
|
|
| ||
|
Net income |
|
$ |
120,189 |
|
$ |
115,834 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| ||
|
Depreciation and amortization |
|
11,374 |
|
8,160 | ||
|
Stock-based compensation |
|
22,242 |
|
22,393 | ||
|
Deferred income tax benefit |
|
(15,606) |
|
(7,055) | ||
|
Tax effect of employee stock plans |
|
861 |
|
10,566 | ||
|
Excess tax benefit from employee stock plans |
|
(741) |
|
(10,044) | ||
|
Changes in assets and liabilities: |
|
|
|
| ||
|
Accounts receivable, net |
|
(42,709) |
|
(39,119) | ||
|
Inventories |
|
13,439 |
|
12,828 | ||
|
Other assets |
|
13,317 |
|
6,416 | ||
|
Accounts payable and other liabilities |
|
(9,660) |
|
(28,462) | ||
|
Deferred income and allowances on sales to distributors |
|
36,649 |
|
130 | ||
|
Income taxes payable |
|
6,239 |
|
(4,696) | ||
|
Deferred compensation plan obligations |
|
(6,116) |
|
2,812 | ||
|
Net cash provided by operating activities |
|
149,478 |
|
89,763 | ||
|
Cash Flows from Investing Activities: |
|
|
|
| ||
|
Purchases of property and equipment |
|
(14,586) |
|
(23,903) | ||
|
Sales (purchases) of deferred compensation plan securities, net |
|
6,116 |
|
(2,812) | ||
|
Purchases of available-for-sale securities |
|
(121,111) |
|
(47,174) | ||
|
Proceeds from sale and maturity of available-for-sale securities |
|
83,394 |
|
48,387 | ||
|
Purchases of other investments |
|
(176) |
|
— | ||
|
Net cash used in investing activities |
|
(46,363) |
|
(25,502) | ||
|
Cash Flows from Financing Activities: |
|
|
|
| ||
|
Proceeds from issuance of common stock through various stock plans |
|
8,442 |
|
12,888 | ||
|
Shares withheld for employee taxes |
|
(3,360) |
|
(4,884) | ||
|
Payment of dividends to stockholders |
|
(31,978) |
|
(25,822) | ||
|
Repurchases of common stock |
|
— |
|
(8,238) | ||
|
Excess tax benefit from employee stock plans |
|
741 |
|
10,044 | ||
|
Net cash used in financing activities |
|
(26,155) |
|
(16,012) | ||
|
Net increase in cash and cash equivalents |
|
76,960 |
|
48,249 | ||
|
Cash and cash equivalents at beginning of period |
|
2,876,627 |
|
3,371,933 | ||
|
Cash and cash equivalents at end of period |
|
$ |
2,953,587 |
|
$ |
3,420,182 |
