Microsoft Corp (MSFT)
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Supplied by Morningstar Inc
Earnings Release FY11 Q4
Financial Statements
Cash Flows Statements (in millions) (Audited)
Year Ended June 30, 2011 2010 2009
Operations
Net income $ 23,150 $ 18,760 $ 14,569
Adjustments to reconcile net income to net cash from operations:
Depreciation, amortization, and other 2,766 2,673 2,562
Stock-based compensation expense 2,166 1,891 1,708
Net recognized losses (gains) on investments and derivatives (362) (208) 683
Excess tax benefits from stock-based compensation (17) (45) (52)
Deferred income taxes 2 (220) 762
Deferral of unearned revenue 31,227 29,374 24,409
Recognition of unearned revenue (28,935) (28,813) (25,426)
Changes in operating assets and liabilities:
Accounts receivable (1,451) (2,238) 2,215
Inventories (561) (44) 255
Other current assets (1,259) 464 (677)
Other long-term assets 62 (223) (273)
Accounts payable 58 844 (671)
Other current liabilities (1,146) 451 (2,700)
Other long-term liabilities 1,294 1,407 1,673
Net cash from operations 26,994 24,073 19,037
Financing
Short-term debt repayments, maturities of 90 days or less, net (186) (991) 1,178
Proceeds from issuance of debt, maturities longer than 90 days 6,960 4,167 4,796
Repayments of debt, maturities longer than 90 days (814) (2,986) (228)
Common stock issued 2,422 2,311 579
Common stock repurchased (11,555) (11,269) (9,353)
Common stock cash dividends paid (5,180) (4,578) (4,468)
Excess tax benefits from stock-based compensation 17 45 52
Other (40) 10 (19)
Net cash used in financing (8,376) (13,291) (7,463)
Investing
Additions to property and equipment (2,355) (1,977) (3,119)
Acquisition of companies, net of cash acquired (71) (245) (868)
Purchases of investments (35,993) (30,168) (36,850)
Maturities of investments 6,897 7,453 6,191
Sales of investments 15,880 15,125 19,806
Securities lending payable 1,026 (1,502) (930)
Net cash used in investing (14,616) (11,314) (15,770)
Effect of exchange rates on cash and cash equivalents 103 (39) (67)
Net change in cash and cash equivalents 4,105 (571) (4,263)
Cash and cash equivalents, beginning of period 5,505 6,076 10,339
Cash and cash equivalents, end of period $ 9,610 $ 5,505 $ 6,076
 
FY12 Earnings Release Schedule
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