See accompanying notes.
CASH FLOWS STATEMENTS
(In millions)
|
|
|
|
|
|
|
|
|
|
Year Ended June 30,
|
|
2009
|
|
|
2008
|
|
|
2007
|
|
|
|
|
|
Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$
|
14,569
|
|
|
$
|
17,681
|
|
|
$
|
14,065
|
|
Adjustments to reconcile net income to net cash from operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation, amortization, and other noncash items
|
|
|
2,562
|
|
|
|
2,056
|
|
|
|
1,440
|
|
Stock-based compensation
|
|
|
1,708
|
|
|
|
1,479
|
|
|
|
1,550
|
|
Net recognized losses (gains) on investments and derivatives
|
|
|
683
|
|
|
|
(572
|
)
|
|
|
(292
|
)
|
Excess tax benefits from stock-based compensation
|
|
|
(52
|
)
|
|
|
(120
|
)
|
|
|
(77
|
)
|
Deferred income taxes
|
|
|
762
|
|
|
|
935
|
|
|
|
421
|
|
Deferral of unearned revenue
|
|
|
24,409
|
|
|
|
24,532
|
|
|
|
21,032
|
|
Recognition of unearned revenue
|
|
|
(25,426
|
)
|
|
|
(21,944
|
)
|
|
|
(19,382
|
)
|
Changes in operating assets and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable
|
|
|
2,215
|
|
|
|
(1,569
|
)
|
|
|
(1,764
|
)
|
Other current assets
|
|
|
(422
|
)
|
|
|
153
|
|
|
|
232
|
|
Other long-term assets
|
|
|
(273
|
)
|
|
|
(98
|
)
|
|
|
(435
|
)
|
Other current liabilities
|
|
|
(3,371
|
)
|
|
|
(748
|
)
|
|
|
(552
|
)
|
Other long-term liabilities
|
|
|
1,673
|
|
|
|
(173
|
)
|
|
|
1,558
|
|
|
|
|
|
|
|
|
|
|
|
Net cash from operations
|
|
|
19,037
|
|
|
|
21,612
|
|
|
|
17,796
|
|
|
|
|
|
|
|
|
|
|
|
Financing
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term borrowings, maturities of 90 days or less, net
|
|
|
1,178
|
|
|
|
–
|
|
|
|
–
|
|
Proceeds from issuance of debt, maturities longer than 90 days
|
|
|
4,796
|
|
|
|
–
|
|
|
|
–
|
|
Repayments of debt, maturities longer than 90 days
|
|
|
(228
|
)
|
|
|
–
|
|
|
|
–
|
|
Common stock issued
|
|
|
579
|
|
|
|
3,494
|
|
|
|
6,782
|
|
Common stock repurchased
|
|
|
(9,353
|
)
|
|
|
(12,533
|
)
|
|
|
(27,575
|
)
|
Common stock cash dividends
|
|
|
(4,468
|
)
|
|
|
(4,015
|
)
|
|
|
(3,805
|
)
|
Excess tax benefits from stock-based compensation
|
|
|
52
|
|
|
|
120
|
|
|
|
77
|
|
Other
|
|
|
(19
|
)
|
|
|
–
|
|
|
|
(23
|
)
|
|
|
|
|
|
|
|
|
|
|
Net cash used in financing
|
|
|
(7,463
|
)
|
|
|
(12,934
|
)
|
|
|
(24,544
|
)
|
|
|
|
|
|
|
|
|
|
|
Investing
|
|
|
|
|
|
|
|
|
|
|
|
|
Additions to property and equipment
|
|
|
(3,119
|
)
|
|
|
(3,182
|
)
|
|
|
(2,264
|
)
|
Acquisition of companies, net of cash acquired
|
|
|
(868
|
)
|
|
|
(8,053
|
)
|
|
|
(1,150
|
)
|
Purchases of investments
|
|
|
(36,850
|
)
|
|
|
(20,954
|
)
|
|
|
(36,308
|
)
|
Maturities of investments
|
|
|
6,191
|
|
|
|
2,597
|
|
|
|
4,736
|
|
Sales of investments
|
|
|
19,806
|
|
|
|
25,132
|
|
|
|
41,451
|
|
Securities lending payable
|
|
|
(930
|
)
|
|
|
(127
|
)
|
|
|
(376
|
)
|
|
|
|
|
|
|
|
|
|
|
Net cash from (used in) investing
|
|
|
(15,770
|
)
|
|
|
(4,587
|
)
|
|
|
6,089
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rates on cash and cash equivalents
|
|
|
(67
|
)
|
|
|
137
|
|
|
|
56
|
|
|
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents
|
|
|
(4,263
|
)
|
|
|
4,228
|
|
|
|
(603
|
)
|
Cash and cash equivalents, beginning of period
|
|
|
10,339
|
|
|
|
6,111
|
|
|
|
6,714
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents, end of period
|
|
$
|
6,076
|
|
|
$
|
10,339
|
|
|
$
|
6,111
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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