Microsoft Corp (MSFT)
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Supplied by Morningstar Inc
Earnings Release FY14 Q4
Cash Flows Statements (in millions)
Year Ended June 30, 2014 2013 2012
Operations
Net income $ 22,074 $ 21,863 $ 16,978
Adjustments to reconcile net income to net cash from operations:
Goodwill impairment 0 0 6,193
Depreciation, amortization, and other 5,212 3,755 2,967
Stock-based compensation expense 2,446 2,406 2,244
Net recognized losses (gains) on investments and derivatives (109) 80 (200)
Excess tax benefits from stock-based compensation (271) (209) (93)
Deferred income taxes (331) (19) 954
Deferral of unearned revenue 44,325 44,253 36,104
Recognition of unearned revenue (41,739) (41,921) (33,347)
Changes in operating assets and liabilities:
Accounts receivable (1,120) (1,807) (1,156)
Inventories (161) (802) 184
Other current assets (29) (129) 493
Other long-term assets (628) (478) (248)
Accounts payable 473 537 (31)
Other current liabilities 1,075 146 410
Other long-term liabilities 1,014 1,158 174
Net cash from operations 32,231 28,833 31,626
Financing
Proceeds from issuance of short-term debt, maturities of 90 days or less, net 500 0 0
Proceeds from issuance of debt 10,350 4,883 0
Repayments of debt (3,888) (1,346) 0
Common stock issued 607 931 1,913
Common stock repurchased (7,316) (5,360) (5,029)
Common stock cash dividends paid (8,879) (7,455) (6,385)
Excess tax benefits from stock-based compensation 271 209 93
Other (39) (10) 0
Net cash used in financing (8,394) (8,148) (9,408)
Investing
Additions to property and equipment (5,485) (4,257) (2,305)
Acquisition of companies, net of cash acquired, and purchases of intangible and other assets (5,937) (1,584) (10,112)
Purchases of investments (72,690) (75,396) (57,250)
Maturities of investments 5,272 5,130 15,575
Sales of investments 60,094 52,464 29,700
Securities lending payable (87) (168) (394)
Net cash used in investing (18,833) (23,811) (24,786)
Effect of exchange rates on cash and cash equivalents (139) (8) (104)
Net change in cash and cash equivalents 4,865 (3,134) (2,672)
Cash and cash equivalents, beginning of period 3,804 6,938 9,610
Cash and cash equivalents, end of period $ 8,669 $ 3,804 $ 6,938
 
Related Information
FY15 Earnings Release Schedule
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