Microsoft Corp (MSFT)
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Supplied by Morningstar Inc
Earnings Release FY11 Q1
Financial Statements
Cash Flows Statements (in millions) (Unaudited)
   Three Months Ended  
September 30
2010 2009
Operations
Net income $ 5,410 $ 3,574
Adjustments to reconcile net income to net cash from operations:
Depreciation, amortization, and other noncash items 694 646
Stock-based compensation expense 528 443
Net recognized gains on investments and derivatives (29) (66)
Excess tax benefits from stock-based compensation (5) (9)
Deferred income taxes (148) (46)
Deferral of unearned revenue 5,881 6,679
Recognition of unearned revenue (6,862) (6,237)
Changes in operating assets and liabilities:
Accounts receivable 3,674 2,748
Inventories (468) (419)
Other current assets 208 (235)
Other long-term assets 62 (78)
Accounts payable (400) (36)
Other current liabilities (911) (1,203)
Other long-term liabilities 560 346
Net cash from operations 8,194 6,107
Financing
Short-term borrowings, maturities of 90 days or less, net 814 378
Proceeds from issuance of debt, maturities longer than 90 days 4,721 695
Repayments of debt, maturities longer than 90 days (814) (823)
Common stock issued 177 248
Common stock repurchased (4,399) (1,540)
Common stock cash dividends paid (1,118) (1,157)
Excess tax benefits from stock-based compensation 5 9
Other (25) -
Net cash used in financing (639) (2,190)
Investing
Additions to property and equipment (564) (435)
Acquisition of companies, net of cash acquired - (39)
Purchases of investments (7,417) (10,490)
Maturities of investments 870 3,498
Sales of investments 1,427 4,417
Securities lending payable 727 1,850
Net cash used in investing (4,957) (1,199)
Effect of exchange rates on cash and cash equivalents 58 29
Net change in cash and cash equivalents 2,656 2,747
Cash and cash equivalents, beginning of period 5,505 6,076
Cash and cash equivalents, end of period $ 8,161 $ 8,823
 
FY11 Earnings Release Schedule
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