Earnings Release FY21 Q1

Table Power BI

Cash Flows Statements
(In millions) (Unaudited)		Three Months Ended September 30,
(In millions) (Unaudited)		2020	2019
	Operations
	Net income	$ 13,893	$ 10,678
	Adjustments to reconcile net income to net cash from operations:
	Depreciation, amortization, and other	2,645	2,971
	Stock-based compensation expense	1,456	1,262
	Net recognized losses (gains) on investments and derivatives	(128)	11
	Deferred income taxes	(11)	(177)
	Changes in operating assets and liabilities:
	Accounts receivable	8,843	10,090
	Inventories	(808)	(561)
	Other current assets	(54)	(438)
	Other long-term assets	(62)	(333)
	Accounts payable	315	(547)
	Unearned revenue	(3,064)	(2,892)
	Income taxes	(983)	(3,336)
	Other current liabilities	(2,951)	(3,320)
	Other long-term liabilities	244	410
	Net cash from operations	19,335	13,818
	Financing
	Repayments of debt	0	(2,500)
	Common stock issued	545	427
	Common stock repurchased	(6,743)	(4,912)
	Common stock cash dividends paid	(3,856)	(3,510)
	Other, net	(235)	286
	Net cash used in financing	(10,289)	(10,209)
	Investing
	Additions to property and equipment	(4,907)	(3,385)
	Acquisition of companies, net of cash acquired, and purchases of intangible and other assets	(481)	(462)
	Purchases of investments	(14,580)	(23,390)
	Maturities of investments	14,266	19,082
	Sales of investments	2,414	6,379
	Other, net	(2,083)	0
	Net cash used in investing	(5,371)	(1,776)
	Effect of foreign exchange rates on cash and cash equivalents	(46)	(72)
	Net change in cash and cash equivalents	3,629	1,761
	Cash and cash equivalents, beginning of period	13,576	11,356
	Cash and cash equivalents, end of period	$ 17,205	$ 13,117

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