Cash Flows Statements
CASH FLOWS STATEMENTS
| (In millions) | |||||
| Year Ended June 30, | 2012 | 2011 | 2010 | ||
| Operations | |||||
| Net income | $ 16,978 | $ 23,150 | $ 18,760 | ||
| Adjustments to reconcile net income to net cash from operations: | |||||
| Goodwill impairment | 6,193 | 0 | 0 | ||
| Depreciation, amortization, and other | 2,967 | 2,766 | 2,673 | ||
| Stock-based compensation expense | 2,244 | 2,166 | 1,891 | ||
| Net recognized gains on investments and derivatives | (200) | (362) | (208) | ||
| Excess tax benefits from stock-based compensation | (93) | (17) | (45) | ||
| Deferred income taxes | 954 | 2 | (220) | ||
| Deferral of unearned revenue | 36,104 | 31,227 | 29,374 | ||
| Recognition of unearned revenue | (33,347) | (28,935) | (28,813) | ||
| Changes in operating assets and liabilities: | |||||
| Accounts receivable | (1,156) | (1,451) | (2,238) | ||
| Inventories | 184 | (561) | (44) | ||
| Other current assets | 493 | (1,259) | 464 | ||
| Other long-term assets | (248) | 62 | (223) | ||
| Accounts payable | (31) | 58 | 844 | ||
| Other current liabilities | 410 | (1,146) | 451 | ||
| Other long-term liabilities | 174 | 1,294 | 1,407 | ||
| Net cash from operations | 31,626 | 26,994 | 24,073 | ||
| Financing | |||||
| Short-term debt repayments, maturities of 90 days or less, net | 0 | (186) | (991) | ||
| Proceeds from issuance of debt, maturities longer than 90 days | 0 | 6,960 | 4,167 | ||
| Repayments of debt, maturities longer than 90 days | 0 | (814) | (2,986) | ||
| Common stock issued | 1,913 | 2,422 | 2,311 | ||
| Common stock repurchased | (5,029) | (11,555) | (11,269) | ||
| Common stock cash dividends paid | (6,385) | (5,180) | (4,578) | ||
| Excess tax benefits from stock-based compensation | 93 | 17 | 45 | ||
| Other | 0 | (40) | 10 | ||
| Net cash used in financing | (9,408) | (8,376) | (13,291) | ||
| Investing | |||||
| Additions to property and equipment | (2,305) | (2,355) | (1,977) | ||
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | (10,112) | (71) | (245) | ||
| Purchases of investments | (57,250) | (35,993) | (30,168) | ||
| Maturities of investments | 15,575 | 6,897 | 7,453 | ||
| Sales of investments | 29,700 | 15,880 | 15,125 | ||
| Securities lending payable | (394) | 1,026 | (1,502) | ||
| Net cash used in investing | (24,786) | (14,616) | (11,314) | ||
| Effect of exchange rates on cash and cash equivalents | (104) | 103 | (39) | ||
| Net change in cash and cash equivalents | (2,672) | 4,105 | (571) | ||
| Cash and cash equivalents, beginning of period | 9,610 | 5,505 | 6,076 | ||
| Cash and cash equivalents, end of period | $ 6,938 | $ 9,610 | $ 5,505 |
See accompanying notes.
