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This excerpt taken from the IFX 6-K filed May 11, 2009. Liquidity
Cash used in operating activities from continuing operations was
€65 million for the six months ended March 31,
2009, and reflected mainly the loss from continuing operations
of €266 million less non-cash charges for depreciation
and amortization of €282 million and
€16 million resulting from the sale of the SensoNor
business. Cash used in operating activities in the six months
ended March 31, 2009 was negatively impacted by changes in
operating assets and liabilities of €117 million, and
positively impacted by income taxes received of
€19 million.
Cash provided by investing activities from continuing operations
was €31 million for the six months ended
March 31, 2009, and primarily resulted from the receipt of
€95 million from the German bank deposit protection
fund in the second quarter of the 2009 fiscal year and the
refund of contingent consideration of €13 million from
TI due to the failure to achieve the revenue targets of the CPE
business. Furthermore,
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proceeds of €10 million from the sale of
available-for-sale financial assets and the consideration
received from the sale of the SensoNor business contributed to
cash provided by investing activities. We used
€91 million for the purchases of property, plant and
equipment, and intangible assets.
During the six months ended March, 31, 2009, we made principal
repayments of long-term debt of €182 million, of which
the majority relates to the repurchase of notional amounts of
€130 million and €22 million of our
exchangeable subordinated notes due 2010 and our convertible
subordinated notes due 2010, respectively. Additional repayments
of long-term debt amounted to €92 million, mainly
€41 million for our syndicated loan.
The net decrease in cash and cash equivalents from discontinued
operations in the six months ended March 31, 2009, consists
primarily of cash used in operating and financing activities of
Qimonda aggregating €398 million and
€40 million, respectively. The net cash provided by
investing activities from discontinued operations of €21
million consists primarily of cash received by Qimonda in
connection with the sale of Inotera to Micron in November 2008
for US$400 million (approximately €296 million),
partially offset by the cash and cash equivalents of Qimonda as
of January 23, 2009, of €286 million.
Free cash flow from continuing operations, representing cash
flows from operating and investing activities from continuing
operations, excluding purchases or sales of available-for-sale
financial assets, was negative €44 million for the six
months ended March 31, 2009, an improvement from negative
€328 million for the six months ended March 31,
2008. Free cash flow during the first half of the 2008 fiscal
year included higher cash used in investing activities from
continuing operations, due to the acquisition of the mobility
products business from LSI and higher capital expenditures,
which were only partly offset by higher cash provided from
operating activities from continuing operations.
Our gross cash position as of March 31, 2009, representing
cash and cash equivalents and available-for-sale financial
assets, decreased to €665 million from
€883 million as of September 30, 2008, primarily
reflecting the cash used in operating and financing activities
from continuing operations. Our net cash position as of
March 31, 2009, defined as gross cash position less short
and long-term debt was negative €321 million, a
decrease of €34 million from September 30, 2008,
mainly reflecting cash used in operating activities, which was
only partly offset by the effect on our net cash position of the
repurchase of exchangeable subordinated notes due 2010 and our
convertible subordinated notes due 2010, respectively, net of
accretion for the exchangeable and convertible subordinated
notes.
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This excerpt taken from the IFX 6-K filed Feb 11, 2009. Liquidity
Cash provided by operating activities from continuing operations
was €5 million for the first quarter of the 2009
fiscal year, and reflected mainly the loss from continuing
operations of €116 million which was net of non-cash
charges for depreciation and amortization of
€145 million. Cash provided by operating activities in
the first quarter of the 2009 fiscal year was negatively
impacted by changes in operating assets and liabilities of
€49 million, and positively impacted by income taxes
received and interest received, net in total of
€23 million.
Cash used in investing activities from continuing operations was
€22 million for the three months ended
December 31, 2008 and primarily relates to cash used for
the purchases of property, plant and equipment, intangible
assets and other assets in total of €40 million which
were partly offset by proceeds from sales of available-for-sale
financial assets of €5 million and the contingent
consideration of €13 million received from TI due to
the failure to achieve the revenue targets of the CPE business.
Cash used in financing activities from continuing operations was
€81 million and primarily relates to the repurchase of
notional amounts of €95 million and
€22 million of our exchangeable subordinated notes due
2010 and our convertible subordinated notes due 2010,
respectively.
Free cash flow from continuing operations, representing cash
flows from operating and investing activities from continuing
operations excluding purchases or sales of available-for-sale
financial assets, was negative €22 million for the
three months ended December 31, 2008, an improvement from
negative €270 million for the three months ended
December 31, 2007. Free cash flow during the first quarter
of the 2008 fiscal year included higher cash used in investing
activities for continuing operations, due to the acquisition of
the mobility products business from LSI and had higher capital
expenditures, which were only partly offset by higher cash
provided from operating activities from continued operations.
Our gross cash position from continuing operations as of
December 31, 2008 representing cash and cash equivalents
and available-for-sale financial assets, decreased to
€779 million from €883 million as of
September 30, 2008, primarily reflecting the cash used in
financing and investing activities. Our net cash position from
continuing operations as of December 31, 2008 defined as
gross cash position less short and long-term debt was negative
€293 million and, therefore, remained broadly
unchanged compared to negative €287 million as of
September 30, 2008.
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This excerpt taken from the IFX 6-K filed Aug 1, 2008. Liquidity
Cash provided by operating activities from continuing operations
was €270 million during the nine months ended
June 30, 2008, and resulted primarily from net income from
continuing operations of €109 million, which is net of
non-cash charges for depreciation and amortization of
€410 million and a €14 million charge for
in-process R&D acquired from LSI. Also included in net
income from continuing operations were gains on sales of
businesses of €68 million. Cash provided by operating
activities from continuing operations was negatively impacted by
the changes in operating assets and liabilities of
€228 million, primarily resulting from a decrease in
trade accounts payable and an increase in inventories.
Net cash used in investing activities from continuing operations
increased to €722 million during the nine months ended
June 30, 2008, from €27 million in the nine
months ended June 30, 2007. This increase was mainly due to
higher net purchases of marketable securities of
€511 million and cash payments of
€353 million for the acquisition of the mobility
products business of LSI and Primarion. These cash outflows were
partially offset by lower net purchases of property, plant and
equipment of €104 million, and higher proceeds from
the sale of businesses and interests in subsidiaries of
€71 million resulting from the sale of part of our
interest in the high-power bipolar business and our HDD business.
Net cash used in financing activities from continuing operations
decreased by €109 million to €211 million in
the nine months ended June 30, 2008, compared to the nine
months ended June 30, 2007. During the nine months ended
June 30, 2007, principal repayments of long-term debt
amounted to €703 million, and related primarily to the
repayment of convertible notes due in 2007. During the nine
months ended June 30, 2007, we also received repayments
from related parties of €345 million due to
Qimonda’s repayment of an intercompany loan. During the
nine months ended June 30, 2008, we made repayments of
short-term and long-term debt of €232 million, of
which €98 million related to the repurchase of
convertible subordinated notes due 2010 with a notional amount
of €100 million. We also made dividend payments to
minority interest holders of €80 million, which were
partly offset by proceeds from issuance of long-term debt of
€109 million.
Free cash flow from continuing operations, representing cash
flows from operating and investing activities from continuing
operations excluding purchases or sales of marketable
securities, was negative €206 million for the nine
months ended June 30, 2008, an improvement from negative
€358 million for the nine months ended June 30,
2007, primarily due to increased net cash provided by operating
activities from continuing operations of €336 million,
partly offset by higher net cash used in investing activities
from continuing operations excluding purchases of marketable
securities.
Our gross cash position from continuing operations as of
June 30, 2008, representing cash and cash equivalents and
marketable securities, decreased to €860 million from
€1,283 million as of September 30, 2007. Our net
cash position from continuing operations as of June 30,
2008, defined as gross cash position less short- and long-term
debt, was negative €407 million, compared with
negative €126 million as of September 30, 2007.
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This excerpt taken from the IFX 6-K filed Apr 30, 2008. Liquidity
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Cash provided by operating activities from continuing operations
was €124 million during the six months ended
March 31, 2008, and resulted primarily from net income from
continuing operations of €64 million, which is net of
non-cash charges for depreciation and amortization of
€276 million and a €14 million charge for
in-process R&D acquired from LSI. Cash provided by
operating activities was negatively impacted by the change in
assets and liabilities of €229 million,
primarily resulting from a decrease in trade accounts payable
and accrued liabilities of €177 million and an
increase in inventories of €31 million.
Net cash used in investing activities from continuing operations
increased to €868 million during the six months ended
March 31, 2008, from net cash provided by investing
activities from continuing operations of €22 million
in the six months ended March 31, 2007. The increase was
mainly due to higher net purchases of marketable securities of
€652 million and a €321 million cash payment
for the acquisition of the mobility business of LSI in the first
quarter of the 2008 fiscal year. These cash outflows were
partially offset by lower purchases of property, plant and
equipment of €51 million, and higher proceeds from the
sale of businesses and interests in subsidiaries of
€30 million resulting from the sale of part of our
interest in the high-power bipolar business.
Net cash used in financing activities from continuing operations
decreased by €273 million to €97 million for
the six months ended March 31, 2008, compared to the six
months ended March 31, 2007. During the six months ended
March 31, 2007, principal repayments of long-term debt
amounted to €700 million, and related primarily to the
repayment of convertible notes due in 2007. During the six
months ended March 31, 2007, we also received higher
repayments from related parties of €305 million,
primarily due to Qimonda’s repayment of an intercompany
loan of €296 million. During the six months ended
March 31, 2008, we made repayments of short-term and
long-term debt of €120 million, and dividend payments
to minority interest holders of €76 million, which
were partly offset by proceeds from issuance of long-term debt
of €107 million.
Free cash flow from continuing operations, representing cash
flows from operating and investing activities from continuing
operations excluding purchases or sales of marketable
securities, was negative €327 million for the six
months ended March 31, 2008, and remained broadly unchanged
compared to negative €329 million for the six months
ended March 31, 2007.
Accordingly, gross cash position from continuing operations as
of March 31, 2008, representing cash and cash equivalents
and marketable securities, decreased to €850 million
from €1,283 million as of September 30, 2007. Our
net cash position from continuing operations as of
March 31, 2008, defined as gross cash position less short
and long-term debt, was negative
€529 million, compared with negative
€126 million as of September 30, 2007.
The decrease in cash and cash equivalents from discontinued
operations of €57 million and €197 million
for the six months ended March 31, 2007 and 2008,
respectively, relates to Qimonda.
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This excerpt taken from the IFX 6-K filed Feb 13, 2008. Liquidity
Cash used in operating activities during the three months ended
December 31, 2007 primarily reflected the net loss of
€396 million, which is net of non-cash charges for
depreciation and amortization of €303 million, and a
€14 million write-off of in-process R&D acquired
from LSI. Cash used in operating activities was positively
impacted by a decrease in trade accounts receivable and
inventories of €340 million, and negatively influenced
by a decrease in trade accounts payable of
€122 million.
Net cash used in investing activities increased to
€736 million during the three months ended
December 31, 2007, from €323 million in the three
months ended December 31, 2006, and €116 million
in the three months ended September 30, 2007. The
sequential increase was mainly due to higher net purchases of
marketable securities of €300 million and the payment
€316 million for the acquisition of the mobility
business of LSI in the first quarter of the 2008 fiscal year,
whereas €45 million was paid for the acquisition of
the CPE DSL business of TI in the preceding quarter. The
increase
year-on-year
primarily reflects higher net purchases of marketable securities
of €279 million and the LSI acquisition, partly offset
by higher proceeds from sales of property, plant and equipment
of €130 million.
Cash flows from financing activities decreased by
€155 million sequentially mainly due to lower new
indebtedness, and decreased by €42 million
year-on-year
primarily due to dividend payments to minority interest holders.
The net cash inflows from financing activities during the
quarter ended September 30, 2007 primarily reflects the
cash proceeds of €215 million received from the
issuance of the exchangeable subordinated notes due 2010.
Free cash flow, representing cash flows from operating and
investing activities excluding purchases or sales of marketable
securities, decreased to negative €487 million in the
first quarter of the 2008 fiscal year from positive
€16 million and €388 million in the three
months ended December 31, 2006 and September 30, 2007,
respectively. This decrease primarily resulted from a reduction
in cash flow from operating activities of €369 million
year-on-year
and €555 million sequentially. Additionally, free cash
flow significantly decreased in the three months ended
December 31, 2007 compared to the three months ended
September 30, 2007 due to the €316 million cash
payment for the acquisition of the mobility business of LSI, and
lower proceeds from sales of businesses and interests in
subsidiaries.
Accordingly, gross cash position as of December 31, 2007,
representing cash and cash equivalents and marketable
securities, decreased to €1,779 million from
€2,294 million as of September 30, 2007 and
€2,682 million as of December 31, 2006. The
company’s net cash position as of December 31, 2007,
defined as gross cash position less short and long-term debt,
decreased to negative €92 million for the first
quarter of the 2008 fiscal year, from positive
€582 million in the prior quarter and positive
€660 million in the first quarter of the 2007 fiscal
year.
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This excerpt taken from the IFX 6-K filed Aug 2, 2007. Liquidity
Free cash flow, representing cash flows from operating
and investing activities excluding purchases or sales of
marketable securities, decreased to a net outflow of Euro
219 million in the third quarter of the 2007 fiscal year
from a net inflow of Euro 22 million in the previous
quarter. The primary reason for the decrease was lower cash
flows provided by operating activities. Accordingly, gross
cash position as of June 30, 2007, representing cash
and cash equivalents and marketable securities, decreased
sequentially from Euro 2.0 billion to Euro
1.8 billion, while the company’s net cash
position, defined as gross cash
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position less short and long-term debt, decreased sequentially
from Euro 607 million to Euro 389 million as of
June 30, 2007.
This excerpt taken from the IFX 6-K filed May 4, 2007. Liquidity
Free cash flow, representing cash flows from operating
and investing activities excluding purchases or sales of
marketable securities, improved in the fiscal second quarter
2007 to a net inflow of Euro 22 million from a net inflow
of Euro 16 million in the previous quarter. The primary
reason for the increase was lower cash flows used in investing
activities excluding purchases and sales of marketable
securities. Gross cash position as of March 31,
2007, representing cash and cash equivalents and marketable
securities, decreased sequentially from Euro 2.7 billion to
Euro 2.0 billion, primarily as a result of the repayment of
convertible subordinated notes. Net cash position,
defined as gross cash position less short and long-
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term debt, decreased sequentially from Euro 660 million to
Euro 607 million as of the end of the fiscal second quarter
2007.
This excerpt taken from the IFX 6-K filed May 3, 2005. Liquidity Free cash flow, representing cash flow from operating and investing activities excluding purchases or sales of marketable securities, significantly decreased in the second quarter of financial year 2005 to a net outflow of Euro 197 million from a net outflow of Euro 57 million in the previous quarter. The primary reason for the decrease was lower cash flow from operations, which decreased from Euro 423 million in the previous quarter, to Euro 164 million in the second quarter of financial year 2005, primarily as a result of the net loss incurred during the second quarter. Gross cash position, representing cash and cash equivalents and marketable securities, amounted to Euro 2.3 billion as of March 31, 2005. In addition, net cash position, defined as gross cash position less short and long-term debt, aggregated to Euro 332 million as of the end of the second quarter of the 2005 financial year. This excerpt taken from the IFX 6-K filed Feb 1, 2005. Liquidity Free cash flow, representing cash flow from operating and investing activities excluding purchases or sales of marketable securities, significantly decreased in the first quarter of financial year 2005 to a net outflow of Euro 57 million from a net inflow of Euro 70 million in the previous quarter. The primary reason for the decrease was lower cash flow from operations, which decreased from Euro 568 million in the previous quarter to Euro 423 million in the first quarter of financial year 2005, primarily as a result of an increase in inventories and reductions in accrued and other current liabilities. 4
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