Earnings Release FY24 Q1

Table Power BI

Cash Flows Statements
(In millions) (Unaudited)		Three Months Ended September 30,
(In millions) (Unaudited)		2023	2022
	Operations
	Net income	$ 22,291	$ 17,556
	Adjustments to reconcile net income to net cash from operations:
	Depreciation, amortization, and other	3,921	2,790
	Stock-based compensation expense	2,507	2,192
	Net recognized losses (gains) on investments and derivatives	14	(22)
	Deferred income taxes	(568)	(1,191)
	Changes in operating assets and liabilities:
	Accounts receivable	11,034	11,729
	Inventories	(505)	(543)
	Other current assets	(796)	(332)
	Other long-term assets	(2,013)	(666)
	Accounts payable	1,214	(1,567)
	Unearned revenue	(4,126)	(3,322)
	Income taxes	1,425	410
	Other current liabilities	(4,106)	(4,024)
	Other long-term liabilities	291	188
	Net cash from operations	30,583	23,198
	Financing
	Proceeds from issuance of debt, maturities of 90 days or less, net	18,692	0
	Proceeds from issuance of debt	7,073	0
	Repayments of debt	(1,500)	(1,000)
	Common stock issued	685	575
	Common stock repurchased	(4,831)	(5,573)
	Common stock cash dividends paid	(5,051)	(4,621)
	Other, net	(307)	(264)
	Net cash from (used in) financing	14,761	(10,883)
	Investing
	Additions to property and equipment	(9,917)	(6,283)
	Acquisition of companies, net of cash acquired, and purchases of intangible and other assets	(1,186)	(349)
	Purchases of investments	(8,460)	(5,013)
	Maturities of investments	15,718	6,662
	Sales of investments	5,330	2,711
	Other, net	(982)	(860)
	Net cash from (used in) investing	503	(3,132)
	Effect of foreign exchange rates on cash and cash equivalents	(99)	(230)
	Net change in cash and cash equivalents	45,748	8,953
	Cash and cash equivalents, beginning of period	34,704	13,931
	Cash and cash equivalents, end of period	$ 80,452	$ 22,884

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