FY23 Q4 - Cash Flows - Investor Relations

Earnings Release FY23 Q4

Cash Flows Statements
(In millions)		Year Ended June 30,
(In millions)		2023	2022	2021
	Operations
	Net income	$ 72,361	$ 72,738	$ 61,271
	Adjustments to reconcile net income to net cash from operations:
	Depreciation, amortization, and other	13,861	14,460	11,686
	Stock-based compensation expense	9,611	7,502	6,118
	Net recognized losses (gains) on investments and derivatives	196	(409)	(1,249)
	Deferred income taxes	(6,059)	(5,702)	(150)
	Changes in operating assets and liabilities:
	Accounts receivable	(4,087)	(6,834)	(6,481)
	Inventories	1,242	(1,123)	(737)
	Other current assets	(1,991)	(709)	(932)
	Other long-term assets	(2,833)	(2,805)	(3,459)
	Accounts payable	(2,721)	2,943	2,798
	Unearned revenue	5,535	5,109	4,633
	Income taxes	(358)	696	(2,309)
	Other current liabilities	2,272	2,344	4,149
	Other long-term liabilities	553	825	1,402
	Net cash from operations	87,582	89,035	76,740
	Financing
	Cash premium on debt exchange	0	0	(1,754)
	Repayments of debt	(2,750)	(9,023)	(3,750)
	Common stock issued	1,866	1,841	1,693
	Common stock repurchased	(22,245)	(32,696)	(27,385)
	Common stock cash dividends paid	(19,800)	(18,135)	(16,521)
	Other, net	(1,006)	(863)	(769)
	Net cash used in financing	(43,935)	(58,876)	(48,486)
	Investing
	Additions to property and equipment	(28,107)	(23,886)	(20,622)
	Acquisition of companies, net of cash acquired, and purchases of intangible and other assets	(1,670)	(22,038)	(8,909)
	Purchases of investments	(37,651)	(26,456)	(62,924)
	Maturities of investments	33,510	16,451	51,792
	Sales of investments	14,354	28,443	14,008
	Other, net	(3,116)	(2,825)	(922)
	Net cash used in investing	(22,680)	(30,311)	(27,577)
	Effect of foreign exchange rates on cash and cash equivalents	(194)	(141)	(29)
	Net change in cash and cash equivalents	20,773	(293)	648
	Cash and cash equivalents, beginning of period	13,931	14,224	13,576
	Cash and cash equivalents, end of period	$ 34,704	$ 13,931	$ 14,224

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