Earnings Release FY20 Q1

Table Power BI

Cash Flows Statements
(In millions) (Unaudited)		Three Months Ended September 30,
(In millions) (Unaudited)		2019	2018
	Operations
	Net income	$ 10,678	$ 8,824
	Adjustments to reconcile net income to net cash from operations:
	Depreciation, amortization, and other	2,971	2,837
	Stock-based compensation expense	1,262	1,107
	Net recognized losses (gains) on investments and derivatives	11	(240)
	Deferred income taxes	(177)	(247)
	Changes in operating assets and liabilities:
	Accounts receivable	10,090	9,194
	Inventories	(561)	(956)
	Other current assets	(438)	(677)
	Other long-term assets	(333)	21
	Accounts payable	(547)	(395)
	Unearned revenue	(2,892)	(2,441)
	Income taxes	(3,336)	(1,091)
	Other current liabilities	(3,320)	(2,322)
	Other long-term liabilities	410	43
	Net cash from operations	13,818	13,657
	Financing
	Repayments of debt	(2,500)	0
	Common stock issued	427	360
	Common stock repurchased	(4,912)	(3,744)
	Common stock cash dividends paid	(3,510)	(3,220)
	Other, net	286	(780)
	Net cash used in financing	(10,209)	(7,384)
	Investing
	Additions to property and equipment	(3,385)	(3,602)
	Acquisition of companies, net of cash acquired, and purchases of intangible and other assets	(462)	(245)
	Purchases of investments	(23,390)	(19,551)
	Maturities of investments	19,082	5,214
	Sales of investments	6,379	15,231
	Net cash used in investing	(1,776)	(2,953)
	Effect of foreign exchange rates on cash and cash equivalents	(72)	(129)
	Net change in cash and cash equivalents	1,761	3,191
	Cash and cash equivalents, beginning of period	11,356	11,946
	Cash and cash equivalents, end of period	$ 13,117	$ 15,137

IMPORTANT NOTICE TO USERS (summary only, click here for full text of notice); All information is unaudited unless otherwise noted or accompanied by an audit opinion and is subject to the more comprehensive information contained in our SEC reports and filings. We do not endorse third-party information. All information speaks as of the last fiscal quarter or year for which we have filed a Form 10-K or 10-Q, or for historical information the date or period expressly indicated in or with such information. We undertake no duty to update the information. Forward-looking statements are subject to risks and uncertainties described in our Forms 10-Q and 10-K.