Earnings Release FY20 Q4

Table Power BI

Cash Flows Statements
(In millions)		Year Ended June 30,
(In millions)		2020	2019	2018
	Operations
	Net income	$ 44,281	$ 39,240	$ 16,571
	Adjustments to reconcile net income to net cash from operations:
	Depreciation, amortization, and other	12,796	11,682	10,261
	Stock-based compensation expense	5,289	4,652	3,940
	Net recognized gains on investments and derivatives	(219)	(792)	(2,212)
	Deferred income taxes	11	(6,463)	(5,143)
	Changes in operating assets and liabilities:
	Accounts receivable	(2,577)	(2,812)	(3,862)
	Inventories	168	597	(465)
	Other current assets	(2,330)	(1,718)	(952)
	Other long-term assets	(1,037)	(1,834)	(285)
	Accounts payable	3,018	232	1,148
	Unearned revenue	2,212	4,462	5,922
	Income taxes	(3,631)	2,929	18,183
	Other current liabilities	1,346	1,419	798
	Other long-term liabilities	1,348	591	(20)
	Net cash from operations	60,675	52,185	43,884
	Financing
	Repayments of short-term debt, maturities of 90 days or less, net	0	0	(7,324)
	Proceeds from issuance of debt	0	0	7,183
	Cash premium on debt exchange	(3,417)	0	0
	Repayments of debt	(5,518)	(4,000)	(10,060)
	Common stock issued	1,343	1,142	1,002
	Common stock repurchased	(22,968)	(19,543)	(10,721)
	Common stock cash dividends paid	(15,137)	(13,811)	(12,699)
	Other, net	(334)	(675)	(971)
	Net cash used in financing	(46,031)	(36,887)	(33,590)
	Investing
	Additions to property and equipment	(15,441)	(13,925)	(11,632)
	Acquisition of companies, net of cash acquired, and purchases of intangible and other assets	(2,521)	(2,388)	(888)
	Purchases of investments	(77,190)	(57,697)	(137,380)
	Maturities of investments	66,449	20,043	26,360
	Sales of investments	17,721	38,194	117,577
	Other, net	(1,241)	0	(98)
	Net cash used in investing	(12,223)	(15,773)	(6,061)
	Effect of foreign exchange rates on cash and cash equivalents	(201)	(115)	50
	Net change in cash and cash equivalents	2,220	(590)	4,283
	Cash and cash equivalents, beginning of period	11,356	11,946	7,663
	Cash and cash equivalents, end of period	$ 13,576	$ 11,356	$ 11,946

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