Microsoft Corp (MSFT)
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Supplied by Morningstar Inc
Earnings Release FY12 Q2
Financial Statements
Cash Flows Statements (in millions)
   Three Months Ended
December 31,
   Six Months Ended
December 31,
2011 2010 2011 2010
Operations
Net income $ 6,624 $ 6,634 $ 12,362 $ 12,044
Adjustments to reconcile net income to net cash from operations:
Depreciation, amortization, and other 678 663 1,404 1,357
Stock-based compensation expense 575 553 1,133 1,081
Net recognized gains on investments and derivatives (112) (226) (142) (255)
Excess tax benefits from stock-based compensation (4) (4) (74) (9)
Deferred income taxes 14 (117) 416 (265)
Deferral of unearned revenue 7,544 6,834 13,683 12,715
Recognition of unearned revenue (8,057) (7,301) (15,710) (14,163)
Changes in operating assets and liabilities:
Accounts receivable (3,652) (3,270) 1,081 404
Inventories 891 380 (29) (88)
Other current assets 605 (77) 865 131
Other long-term assets 30 118 (45) 180
Accounts payable 176 216 (266) (184)
Other current liabilities 394 (500) (599) (1,411)
Other long-term liabilities 156 283 276 843
Net cash from operations 5,862 4,186 14,355 12,380
Financing
Short-term debt repayments, maturities of 90 days or less, net 0 (1,000) 0 (186)
Proceeds from issuance of debt, maturities longer than 90 days 0 0 0 4,721
Repayments of debt, maturities longer than 90 days 0 0 0 (814)
Common stock issued 208 660 544 837
Common stock repurchased (1,042) (5,052) (2,976) (9,451)
Common stock cash dividends paid (1,683) (1,363) (3,024) (2,481)
Excess tax benefits from stock-based compensation 4 4 74 9
Other 0 0 0 (25)
Net cash used in financing (2,513) (6,751) (5,382) (7,390)
Investing
Additions to property and equipment (498) (491) (934) (1,055)
Acquisition of companies, net of cash acquired, and purchases of intangible and other assets (8,627) (69) (9,502) (69)
Purchases of investments (10,047) (5,896) (21,346) (13,313)
Maturities of investments 6,061 1,836 8,886 2,706
Sales of investments 7,835 2,603 15,371 4,030
Securities lending payable (292) 447 (358) 1,174
Net cash used in investing (5,568) (1,570) (7,883) (6,527)
Effect of exchange rates on cash and cash equivalents (52) (3) (90) 55
Net change in cash and cash equivalents (2,271) (4,138) 1,000 (1,482)
Cash and cash equivalents, beginning of period 12,881 8,161 9,610 5,505
Cash and cash equivalents, end of period $ 10,610 $ 4,023 $ 10,610 $ 4,023
 
Related Information
FY12 Earnings Release Schedule
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