Microsoft Corp (MSFT)
Earnings Release FY13 Q3
Cash Flows Statements (in millions)
   Three Months Ended
March 31,
   Nine Months Ended
March 31,
2013 2012 2013 2012
Operations
Net income $ 6,055 $ 5,108 $ 16,898 $ 17,470
Adjustments to reconcile net income to net cash from operations:
Depreciation, amortization, and other 1,053 766 2,772 2,170
Stock-based compensation expense 599 591 1,805 1,724
Net recognized losses (gains) on investments and derivatives (52) 68 (19) (74)
Excess tax benefits from stock-based compensation (6) (10) (192) (84)
Deferred income taxes 226 (134) 404 282
Deferral of unearned revenue 9,686 8,142 28,632 21,825
Recognition of unearned revenue (11,599) (8,283) (30,852) (23,993)
Changes in operating assets and liabilities:
Accounts receivable 2,191 2,770 3,859 3,851
Inventories (483) (50) (989) (79)
Other current assets 139 73 (96) 938
Other long-term assets (13) 9 (326) (36)
Accounts payable (67) (114) 51 (380)
Other current liabilities 1,238 492 119 (107)
Other long-term liabilities 699 166 864 442
Net cash from operations 9,666 9,594 22,930 23,949
Financing
Proceeds from issuance of debt 0 0 2,232 0
Common stock issued 203 1,091 765 1,635
Common stock repurchased (1,028) (1,023) (4,318) (3,999)
Common stock cash dividends paid (1,925) (1,683) (5,534) (4,707)
Excess tax benefits from stock-based compensation 6 10 192 84
Other 0 0 (16) 0
Net cash used in financing (2,744) (1,605) (6,679) (6,987)
Investing
Additions to property and equipment (930) (749) (2,463) (1,683)
Acquisition of companies, net of cash acquired, and purchases of intangible and other assets (108) (84) (1,564) (9,586)
Purchases of investments (18,160) (23,951) (48,372) (45,297)
Maturities of investments 1,265 4,236 4,513 13,122
Sales of investments 9,730 7,946 30,163 23,317
Securities lending payable 543 361 (249) 3
Net cash used in investing (7,660) (12,241) (17,972) (20,124)
Effect of exchange rates on cash and cash equivalents (39) 30 23 (60)
Net change in cash and cash equivalents (777) (4,222) (1,698) (3,222)
Cash and cash equivalents, beginning of period 6,017 10,610 6,938 9,610
Cash and cash equivalents, end of period $ 5,240 $ 6,388 $ 5,240 $ 6,388
 
Related Information
FY13 Earnings Release Schedule
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