FY24 Q3 - Cash Flows - Investor Relations

Earnings Release FY24 Q3

Cash Flows Statements
(In millions) (Unaudited)		Three Months Ended March 31,		Nine Months Ended March 31,
(In millions) (Unaudited)		2024	2023	2024	2023
	Operations
	Net income	$ 21,939	$ 18,299	$ 66,100	$ 52,280
	Adjustments to reconcile net income to net cash from operations:
	Depreciation, amortization, and other	6,027	3,549	15,907	9,987
	Stock-based compensation expense	2,703	2,465	8,038	7,195
	Net recognized losses (gains) on investments and derivatives	49	(40)	261	152
	Deferred income taxes	(1,323)	(1,675)	(3,593)	(4,171)
	Changes in operating assets and liabilities:
	Accounts receivable	(2,028)	(1,408)	6,055	7,157
	Inventories	260	106	1,229	868
	Other current assets	951	1,152	880	428
	Other long-term assets	(2,137)	(554)	(5,577)	(1,285)
	Accounts payable	648	(407)	(659)	(4,032)
	Unearned revenue	(645)	(181)	(10,309)	(8,689)
	Income taxes	2,622	1,414	2,493	(1,039)
	Other current liabilities	2,803	1,715	215	(490)
	Other long-term liabilities	48	6	313	451
	Net cash from operations	31,917	24,441	81,353	58,812
	Financing
	Proceeds from issuance (repayments) of debt, maturities of 90 days or less, net	(3,810)	0	6,392	0
	Proceeds from issuance of debt	6,352	0	24,198	0
	Repayments of debt	(11,589)	0	(16,005)	(1,750)
	Common stock issued	522	536	1,468	1,354
	Common stock repurchased	(4,213)	(5,509)	(13,044)	(16,541)
	Common stock cash dividends paid	(5,572)	(5,059)	(16,197)	(14,746)
	Other, net	(498)	(258)	(1,006)	(839)
	Net cash used in financing	(18,808)	(10,290)	(14,194)	(32,522)
	Investing
	Additions to property and equipment	(10,952)	(6,607)	(30,604)	(19,164)
	Acquisition of companies, net of cash acquired, and purchases of intangible and other assets	(1,575)	(301)	(67,790)	(1,329)
	Purchases of investments	(2,183)	(9,063)	(14,901)	(25,675)
	Maturities of investments	3,350	13,154	23,218	26,744
	Sales of investments	1,941	1,239	8,871	8,725
	Other, net	(1,281)	(1,686)	(916)	(2,847)
	Net cash used in investing	(10,700)	(3,264)	(82,122)	(13,546)
	Effect of foreign exchange rates on cash and cash equivalents	(80)	29	(107)	(113)
	Net change in cash and cash equivalents	2,329	10,916	(15,070)	12,631
	Cash and cash equivalents, beginning of period	17,305	15,646	34,704	13,931
	Cash and cash equivalents, end of period	$ 19,634	$ 26,562	$ 19,634	$ 26,562

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