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CASH FLOWS STATEMENTS (In millions) |
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| Year Ended June 30 | 2001 | 2002 | 2003 | |
| Operations | ||||
| Net Income | $ 7,346 | $ 7,829 | $ 9,993 | |
| Cumulative effect of accounting change, net of tax | 375 | — | — | |
| Depreciation, amortization, and other noncash items | 1,536 | 1,084 | 1,439 | |
| Net recognized (gains)/losses on investments | 2,221 | 2,424 | 380 | |
| Stock option income tax benefits | 2,066 | 1,596 | 1,376 | |
| Deferred income taxes | (420) | (416) | 336 | |
| Unearned revenue | 6,970 | 11,152 | 12,519 | |
| Recognition of unearned revenue | (6,369) | (8,929) | (11,292) | |
| Accounts receivable | (418) | (1,623) | 187 | |
| Other current assets | (482) | (264) | 412 | |
| Other long-term assets | (330) | (9) | (28) | |
| Other current liabilities | 774 | 1,449 | 35 | |
| Other long-term liabilities | 153 | 216 | 440 | |
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| Net cash from operations | 13,422 | 14,509 | 15,797 | |
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| Financing | ||||
| Common stock issued | 1,620 | 1,497 | 2,120 | |
| Common stock repurchased | (6,074) | (6,069) | (6,486) | |
| Repurchases of put warrants | (1,367) | — | — | |
| Common stock dividends | — | — | (857) | |
| Other, net | 235 | — | — | |
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| Net cash used for financing | (5,586) | (4,572) | (5,223) | |
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| Investing | ||||
| Additions to property and equipment | (1,103) | (770) | (891) | |
| Acquisitions of companies, net of cash acquired | — | — | (1,063) | |
| Purchases of investments | (66,346) | (89,386) | (89,621) | |
| Maturites of investments | 5,867 | 8,654 | 9,205 | |
| Sales of investments | 52,848 | 70,657 | 75,157 | |
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| Net cash used for investing | (8,734) | (10,845) | (7,213) | |
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| Net change in cash and equivalents | (898) | (908) | 3,361 | |
| Effect of exchange rates on cash and equivalents | (26) | 2 | 61 | |
| Cash and equivalents, beginning of year | 4,846 | 3,922 | 3,016 | |
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| Cash and equivalents, end of year | $ 3,922 | $ 3,016 | $ 6,438 | |
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See accompanying notes. |
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