Turning to the balance sheet and cash flow. During the quarter, cash flow from operations was $196 million or 34% of revenue. Inventory declined slightly to 89 days from 91 days in the prior quarter. Inventory in the channel, excluding catalog distributors, increased 1 day to 57 days. In dollar terms, general inventory declined by 4%.Net capital expenditures totaled $44 million in Q3, as we invested in long-term manufacturing capacity and new facilities, offset partially by the sale of a building. Free cash flow was $140 million or 25% of revenue. Share repurchases totaled $29 million in Q3 as we bought back 1.1 million shares. Finally, in Q3, we paid $64 million in dividends to our shareholders. Overall, total cash, cash equivalents and short-term investments increased by $119 million in the third quarter to $936 million.
Maxim Integrated Products' CEO Discusses Q3 2012 Results - Earnings Call Transcript
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