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Selected Financial Data | MD&A | Balance Sheets | Statements of Operations
Statements of Cash Flows | Statements of Stockholders’ Equity | Notes
Auditors’ Report | Market for Common Equity and Related Stockholder Matters
CONSOLIDATED STATEMENTS OF CASH FLOWS |
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FAIRCHILD SEMICONDUCTOR INTERNATIONAL, INC. AND SUBSIDIARIES |
| Seven Months Ended December 26, 1999 |
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Year Ended | ||||||||||
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| (In millions) | May 30, 1999 |
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May 31, 1998 |
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| Cash flows from operating activities: —Net income (loss) |
$21.3 | $(114.1 | ) | $20.6 | ||||||||
| —Adjustments to reconcile net income (loss) to ——net cash provided by operating activities: ———Amortization of deferred compensation |
1.4 | 0.1 | 0.2 | |||||||||
| ———Cumulative effect of change in accounting principle, net | — | — | 1.5 | |||||||||
| ———Restructuring, net of cash expended | — | 17.3 | — | |||||||||
| ———Depreciation and amortization | 80.9 | 103.7 | 84.6 | |||||||||
| ———Loss on disposal of fixed assets | 0.2 | 0.3 | 0.9 | |||||||||
| ———Non-cash interest expense | 13.7 | 19.8 | 12.5 | |||||||||
| ———Purchased in-process research and development | — | 34.0 | 15.5 | |||||||||
| ———Deferred income taxes | 1.0 | (2.4 | ) | (0.4 | ) | |||||||
| —Changes in operating assets and liabilities, ——net of effects of acquisitions: |
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| ———Accounts receivable | (10.6 | ) | (53.2 | ) | 18.6 | |||||||
| ———Inventories | (19.9 | ) | 8.5 | (21.3 | ) | |||||||
| ———Other current assets | 3.7 | 2.3 | (1.6 | ) | ||||||||
| ———Accounts payable | 15.1 | 21.4 | (6.5 | ) | ||||||||
| ———Accrued expenses and other current liabilities | 11.0 | 12.5 | 13.7 | |||||||||
| ———Other assets and liabilities, net | (2.1 | ) | (6.1 | ) | (2.2 | ) | ||||||
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| ————Cash provided by operating activities | 115.7 | 44.1 | 136.1 | |||||||||
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| Cash flows from investing activities: —Capital expenditures |
(74.8 | ) | (46.2 | ) | (78.0 | ) | ||||||
| —Proceeds from sale of property, plant and equipment | 0.9 | 31.2 | — | |||||||||
| —Purchase of molds and tooling | (1.3 | ) | (3.8 | ) | (5.7 | ) | ||||||
| —Refund (payment) of value added tax paid in connection with acquisition | 40.9 | (40.9 | ) | — | ||||||||
| —Acquisitions, net of cash acquired | — | (414.9 | ) | (116.8 | ) | |||||||
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| ————Cash used in investing activities | (34.3 | ) | (474.6 | ) | (200.5 | ) | ||||||
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| Cash flows from financing activities: —Repayment of long-term debt |
(345.8 | ) | (151.3 | ) | (58.7 | ) | ||||||
| —Issuance of long-term debt | — | 660.0 | 90.0 | |||||||||
| —Proceeds from issuance of common stock, net | 345.0 | — | — | |||||||||
| —Purchase of treasury stock | (5.9 | ) | — | — | ||||||||
| —Proceeds from exercise of stock options | 1.6 | — | — | |||||||||
| —Debt issuance costs | — | (22.3 | ) | (1.1 | ) | |||||||
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| ————Cash provided by (used in) financing activities | (5.1 | ) | 486.4 | 30.2 | ||||||||
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| Net change in cash and cash equivalents | 76.3 | 55.9 | (34.2 | ) | ||||||||
| Cash and cash equivalents at beginning of period | 62.4 | 6.5 | 40.7 | |||||||||
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| Cash and cash equivalents at end of period | $138.7 | $62.4 | $6.5 | |||||||||
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| Supplemental Cash Flow Information: —Cash paid during the year for: ——Income taxes |
$1.8 | $— | $8.9 | |||||||||
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| ——Interest | $42.1 | $46.6 | $43.8 | |||||||||
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See accompanying notes to consolidated financial statements
Selected Financial Data | MD&A | Balance Sheets | Statements of Operations
Statements of Cash Flows | Statements of Stockholders’ Equity | Notes
Auditors’ Report | Market for Common Equity and Related Stockholder Matters
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