Microsoft Corp (MSFT)
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Earnings Release FY14 Q1
Cash Flows Statements (in millions)
   Three Months Ended
September 30,
2013 2012
Net income $ 5,244 $ 4,466
Adjustments to reconcile net income to net cash from operations:
Depreciation, amortization, and other 954 710
Stock-based compensation expense 635 603
Net recognized losses on investments and derivatives 93 11
Excess tax benefits from stock-based compensation (205) (177)
Deferred income taxes 404 38
Deferral of unearned revenue 7,436 8,209
Recognition of unearned revenue (9,677) (8,770)
Changes in operating assets and liabilities:
Accounts receivable 6,617 6,156
Inventories (667) (473)
Other current assets (556) (385)
Other long-term assets (81) (233)
Accounts payable (276) (567)
Other current liabilities (1,255) (1,287)
Other long-term liabilities (461) 183
Net cash from operations 8,205 8,484
Short-term borrowings, maturities less than 90 days, net 712 0
Proceeds from issuance of debt 588 0
Repayments of debt (1,000) 0
Common stock issued 203 417
Common stock repurchased (2,188) (1,632)
Common stock cash dividends paid (1,916) (1,676)
Excess tax benefits from stock-based compensation 205 177
Net cash used in financing (3,396) (2,714)
Additions to property and equipment (1,231) (603)
Acquisition of companies, net of cash acquired, and purchases of intangible and other assets (15) (1,145)
Purchases of investments (14,768) (20,138)
Maturities of investments 347 1,259
Sales of investments 11,117 13,307
Securities lending payable (64) (399)
Net cash used in investing (4,614) (7,719)
Effect of exchange rates on cash and cash equivalents 24 47
Net change in cash and cash equivalents 219 (1,902)
Cash and cash equivalents, beginning of period 3,804 6,938
Cash and cash equivalents, end of period $ 4,023 $ 5,036
Related Information
FY14 Earnings Release Schedule
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