GlobalFoundries Reports First Quarter 2024 Financial Results

 
Unaudited Consolidated Statements of Cash Flows
 
   Three Months Ended
(in millions USD)  March 31, 2024  March 31, 2023
     
Cash flows from operating activities:    
Net income $ 134   $ 254 
Depreciation and amortization 392   343 
Finance (income) expense, net and other 6   7 
Deferred income taxes 23   22 
Other non-cash operating activities 30   27 
Net change in working capital (97)  (174)
Net cash provided by operating activities $ 488   $ 479 
      
Cash flows from investing activities:      
Purchases of property, plant, equipment, and intangible assets $ (227 )   $ (853 )
Other investing activities   (373 )     267  
Net cash used in investing activities $ (600 )   $ (586 )
       
Cash flows from financing activities:      
Proceeds from issuance of equity instruments and other   $ 23     $ 37  
Proceeds (repayment) of debt, net   (50 )     (30 )
Other financing activities         3  
Net cash (used in) provided by financing activities $ (27 )   $ 10  
Effect of exchange rate changes   (1 )     1  
Net change in cash and cash equivalents $ (140 )   $ (96 )
Cash and cash equivalents at the beginning of the period   2,387       2,352  
Cash and cash equivalents at the end of the period $ 2,247     $ 2,256  



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