|
ALTERA CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in thousands) | ||||||
|
| ||||||
|
|
|
Three Months Ended | ||||
|
(In thousands) |
|
March 28, 2014 |
|
March 29, 2013 | ||
|
|
|
|
|
| ||
|
Cash Flows from Operating Activities: |
|
|
|
| ||
|
Net income |
|
$ |
116,514 |
|
$ |
120,189 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| ||
|
Depreciation and amortization |
|
14,628 |
|
11,161 | ||
|
Amortization of acquisition-related intangible assets |
|
2,465 |
|
213 | ||
|
Amortization of debt discount and debt issuance costs |
|
779 |
|
281 | ||
|
Stock-based compensation |
|
23,347 |
|
22,242 | ||
|
Net gain on sale of available-for-sale securities |
|
(48) |
|
— | ||
|
Amortization of investment discount/premium |
|
685 |
|
— | ||
|
Deferred income tax expense/(benefit) |
|
9,211 |
|
(15,606) | ||
|
Tax effect of employee stock plans |
|
(217) |
|
861 | ||
|
Excess tax benefit from employee stock plans |
|
(326) |
|
(741) | ||
|
Changes in assets and liabilities, net of effects of acquisitions: |
|
|
|
| ||
|
Accounts receivable, net |
|
39,623 |
|
(42,709) | ||
|
Inventories |
|
5,743 |
|
13,439 | ||
|
Other assets |
|
(3,992) |
|
13,036 | ||
|
Accounts payable and other liabilities |
|
(3,425) |
|
(9,660) | ||
|
Deferred income and allowances on sales to distributors |
|
(73,227) |
|
36,649 | ||
|
Income taxes payable |
|
(2,004) |
|
6,239 | ||
|
Deferred compensation plan obligations |
|
674 |
|
(6,116) | ||
|
Net cash provided by operating activities |
|
130,430 |
|
149,478 | ||
|
Cash Flows from Investing Activities: |
|
|
|
| ||
|
Purchases of property and equipment |
|
(12,622) |
|
(14,586) | ||
|
(Purchases)/sales of deferred compensation plan securities, net |
|
(674) |
|
6,116 | ||
|
Purchases of available-for-sale securities |
|
(103,982) |
|
(121,111) | ||
|
Proceeds from sale of available-for-sale securities |
|
35,562 |
|
48,978 | ||
|
Proceeds from maturity of available-for-sale securities |
|
41,548 |
|
34,416 | ||
|
Purchase of other investments |
|
— |
|
(176) | ||
|
Net cash used in investing activities |
|
(40,168) |
|
(46,363) | ||
|
Cash Flows from Financing Activities: |
|
|
|
| ||
|
Proceeds from issuance of common stock through stock plans |
|
6,082 |
|
8,442 | ||
|
Shares withheld for employee taxes |
|
(3,048) |
|
(3,360) | ||
|
Payment of dividends to stockholders |
|
(47,554) |
|
(31,978) | ||
|
Long-term debt and credit facility issuance costs |
|
(1,321) |
|
— | ||
|
Repurchases of common stock |
|
(161,794) |
|
— | ||
|
Excess tax benefit from employee stock plans |
|
326 |
|
741 | ||
|
Net cash used in financing activities |
|
(207,309) |
|
(26,155) | ||
|
Net (decrease)/increase in cash and cash equivalents |
|
(117,047) |
|
76,960 | ||
|
Cash and cash equivalents at beginning of period |
|
2,869,158 |
|
2,876,627 | ||
|
Cash and cash equivalents at end of period |
|
$ |
2,752,111 |
|
$ |
2,953,587 |
