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Notes to Financial Statements continued (in millions)
Cash and Short-Term Investments |
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June 30 |
1999 |
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2000 |
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Cash and equivalents: |
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Cash |
$ 635 |
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$ 849 |
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Commercial paper |
3,805 |
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1,986 |
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Certificates of deposit |
522 |
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1,017 |
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U.S. government and agency securities |
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729 |
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Corporate notes and bonds |
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265 |
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Money market preferreds |
13 |
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Cash and equivalents |
4,975 |
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4,846 |
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Short-term investments: |
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Commercial paper |
1,026 |
|
612 |
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U.S. government and agency securities |
3,592 |
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7,104 |
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Corporate notes and bonds |
6,996 |
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9,473 |
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Municipal securities |
247 |
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1,113 |
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Certificates of deposit |
400 |
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650 |
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Short-term investments |
12,261 |
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18,952 |
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Cash and short-term investments |
$ 17,236 |
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$ 23,798 |
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Property and Equipment |
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June 30 |
1999 |
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2000 |
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Land |
$ 158 |
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$ 176 |
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Buildings |
1,347 |
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1,387 |
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Computer equipment and software |
1,433 |
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1,909 |
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Other |
578 |
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842 |
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Property and equipment at cost |
3,516 |
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4,314 |
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Accumulated depreciation |
(1,905 |
) |
(2,411 |
) |
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Property and equipment net |
$ 1,611 |
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$ 1,903 |
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During 1998, 1999, and 2000, depreciation expense, of which the majority related to computer equipment, was $528 million, $483 million, and $668 million; disposals were not material.
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