Earnings Release FY23 Q1

Table Power BI

Cash Flows Statements
(In millions) (Unaudited)		Three Months Ended September 30,
(In millions) (Unaudited)		2022	2021
	Operations
	Net income	$ 17,556	$ 20,505
	Adjustments to reconcile net income to net cash from operations:
	Depreciation, amortization, and other	2,790	3,212
	Stock-based compensation expense	2,192	1,702
	Net recognized gains on investments and derivatives	(22)	(364)
	Deferred income taxes	(1,191)	(5,970)
	Changes in operating assets and liabilities:
	Accounts receivable	11,729	10,486
	Inventories	(543)	(777)
	Other current assets	(332)	940
	Other long-term assets	(666)	(598)
	Accounts payable	(1,567)	(471)
	Unearned revenue	(3,322)	(2,885)
	Income taxes	410	2,653
	Other current liabilities	(4,024)	(4,143)
	Other long-term liabilities	188	250
	Net cash from operations	23,198	24,540
	Financing
	Repayments of debt	(1,000)	(4,826)
	Common stock issued	575	612
	Common stock repurchased	(5,573)	(7,684)
	Common stock cash dividends paid	(4,621)	(4,206)
	Other, net	(264)	(172)
	Net cash used in financing	(10,883)	(16,276)
	Investing
	Additions to property and equipment	(6,283)	(5,810)
	Acquisition of companies, net of cash acquired, and purchases of intangible and other assets	(349)	(1,206)
	Purchases of investments	(5,013)	(10,309)
	Maturities of investments	6,662	8,862
	Sales of investments	2,711	5,630
	Other, net	(860)	(417)
	Net cash used in investing	(3,132)	(3,250)
	Effect of foreign exchange rates on cash and cash equivalents	(230)	(73)
	Net change in cash and cash equivalents	8,953	4,941
	Cash and cash equivalents, beginning of period	13,931	14,224
	Cash and cash equivalents, end of period	$ 22,884	$ 19,165

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