Earnings Release FY20 Q3

Table Power BI

Cash Flows Statements
(In millions) (Unaudited)		Three Months Ended March 31,		Nine Months Ended March 31,
(In millions) (Unaudited)		2020	2019	2020	2019
	Operations
	Net income	$ 10,752	$ 8,809	$ 33,079	$ 26,053
	Adjustments to reconcile net income to net cash from operations:
	Depreciation, amortization, and other	3,118	2,926	9,292	8,758
	Stock-based compensation expense	1,338	1,172	3,940	3,462
	Net recognized losses (gains) on investments and derivatives	52	(95)	(140)	(470)
	Deferred income taxes	(206)	(320)	(436)	(740)
	Changes in operating assets and liabilities:
	Accounts receivable	891	460	6,778	7,258
	Inventories	181	12	419	710
	Other current assets	94	(14)	(179)	(864)
	Other long-term assets	124	(517)	(726)	(969)
	Accounts payable	546	(197)	(8)	(1,032)
	Unearned revenue	(736)	20	(6,564)	(4,543)
	Income taxes	765	276	(3,042)	(879)
	Other current liabilities	695	649	(1,136)	(1,017)
	Other long-term liabilities	(110)	339	725	350
	Net cash from operations	17,504	13,520	42,002	36,077
	Financing
	Repayments of debt	(3,000)	0	(5,518)	(3,000)
	Common stock issued	342	274	1,003	834
	Common stock repurchased	(7,059)	(4,753)	(17,177)	(14,910)
	Common stock cash dividends paid	(3,876)	(3,526)	(11,272)	(10,290)
	Other, net	(1,052)	404	(805)	(835)
	Net cash used in financing	(14,645)	(7,601)	(33,769)	(28,201)
	Investing
	Additions to property and equipment	(3,767)	(2,565)	(10,697)	(9,874)
	Acquisition of companies, net of cash acquired, and purchases of intangible and other assets	(329)	(269)	(871)	(2,107)
	Purchases of investments	(15,910)	(5,846)	(58,311)	(42,255)
	Maturities of investments	17,247	5,893	47,559	14,889
	Sales of investments	2,810	1,424	14,559	30,831
	Net cash from (used in) investing	51	(1,363)	(7,761)	(8,516)
	Effect of foreign exchange rates on cash and cash equivalents	(64)	18	(118)	(94)
	Net change in cash and cash equivalents	2,846	4,574	354	(734)
	Cash and cash equivalents, beginning of period	8,864	6,638	11,356	11,946
	Cash and cash equivalents, end of period	$ 11,710	$ 11,212	$ 11,710	$ 11,212

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