See accompanying notes.
CASH FLOWS STATEMENTS
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|
|
|
|
|
|
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(In millions)
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Year Ended June 30,
|
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2011
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2010
|
|
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2009
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|
|
|
|
|
Operations
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|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$
|
23,150
|
|
|
$
|
18,760
|
|
|
$
|
14,569
|
|
Adjustments to reconcile net income to net cash from operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation, amortization, and other
|
|
|
2,766
|
|
|
|
2,673
|
|
|
|
2,562
|
|
Stock-based compensation expense
|
|
|
2,166
|
|
|
|
1,891
|
|
|
|
1,708
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|
Net recognized losses (gains) on investments and derivatives
|
|
|
(362
|
)
|
|
|
(208
|
)
|
|
|
683
|
|
Excess tax benefits from stock-based compensation
|
|
|
(17
|
)
|
|
|
(45
|
)
|
|
|
(52
|
)
|
Deferred income taxes
|
|
|
2
|
|
|
|
(220
|
)
|
|
|
762
|
|
Deferral of unearned revenue
|
|
|
31,227
|
|
|
|
29,374
|
|
|
|
24,409
|
|
Recognition of unearned revenue
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|
|
(28,935
|
)
|
|
|
(28,813
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)
|
|
|
(25,426
|
)
|
Changes in operating assets and liabilities:
|
|
|
|
|
|
|
|
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|
|
|
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Accounts receivable
|
|
|
(1,451
|
)
|
|
|
(2,238
|
)
|
|
|
2,215
|
|
Inventories
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|
|
(561
|
)
|
|
|
(44
|
)
|
|
|
255
|
|
Other current assets
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|
|
(1,259
|
)
|
|
|
464
|
|
|
|
(677
|
)
|
Other long-term assets
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|
|
62
|
|
|
|
(223
|
)
|
|
|
(273
|
)
|
Accounts payable
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|
|
58
|
|
|
|
844
|
|
|
|
(671
|
)
|
Other current liabilities
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|
|
(1,146
|
)
|
|
|
451
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|
|
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(2,700
|
)
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Other long-term liabilities
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|
1,294
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|
|
|
1,407
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|
|
|
1,673
|
|
|
|
|
|
|
|
|
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Net cash from operations
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26,994
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|
|
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24,073
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|
|
|
19,037
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|
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Financing
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|
|
|
|
|
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Short-term debt borrowings (repayments), maturities of 90 days or less, net
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|
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(186
|
)
|
|
|
(991
|
)
|
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|
1,178
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|
Proceeds from issuance of debt, maturities longer than 90 days
|
|
|
6,960
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|
|
|
4,167
|
|
|
|
4,796
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|
Repayments of debt, maturities longer than 90 days
|
|
|
(814
|
)
|
|
|
(2,986
|
)
|
|
|
(228
|
)
|
Common stock issued
|
|
|
2,422
|
|
|
|
2,311
|
|
|
|
579
|
|
Common stock repurchased
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|
(11,555
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)
|
|
|
(11,269
|
)
|
|
|
(9,353
|
)
|
Common stock cash dividends paid
|
|
|
(5,180
|
)
|
|
|
(4,578
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)
|
|
|
(4,468
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)
|
Excess tax benefits from stock-based compensation
|
|
|
17
|
|
|
|
45
|
|
|
|
52
|
|
Other
|
|
|
(40
|
)
|
|
|
10
|
|
|
|
(19
|
)
|
|
|
|
|
|
|
|
|
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|
Net cash used in financing
|
|
|
(8,376
|
)
|
|
|
(13,291
|
)
|
|
|
(7,463
|
)
|
|
|
|
|
|
|
|
|
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Investing
|
|
|
|
|
|
|
|
|
|
|
|
|
Additions to property and equipment
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|
|
(2,355
|
)
|
|
|
(1,977
|
)
|
|
|
(3,119
|
)
|
Acquisition of companies, net of cash acquired
|
|
|
(71
|
)
|
|
|
(245
|
)
|
|
|
(868
|
)
|
Purchases of investments
|
|
|
(35,993
|
)
|
|
|
(30,168
|
)
|
|
|
(36,850
|
)
|
Maturities of investments
|
|
|
6,897
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|
|
|
7,453
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|
|
|
6,191
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|
Sales of investments
|
|
|
15,880
|
|
|
|
15,125
|
|
|
|
19,806
|
|
Securities lending payable
|
|
|
1,026
|
|
|
|
(1,502
|
)
|
|
|
(930
|
)
|
|
|
|
|
|
|
|
|
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Net cash used in investing
|
|
|
(14,616
|
)
|
|
|
(11,314
|
)
|
|
|
(15,770
|
)
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rates on cash and cash equivalents
|
|
|
103
|
|
|
|
(39
|
)
|
|
|
(67
|
)
|
|
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents
|
|
|
4,105
|
|
|
|
(571
|
)
|
|
|
(4,263
|
)
|
Cash and cash equivalents, beginning of period
|
|
|
5,505
|
|
|
|
6,076
|
|
|
|
10,339
|
|
|
|
|
|
|
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Cash and cash equivalents, end of period
|
|
$
|
9,610
|
|
|
$
|
5,505
|
|
|
$
|
6,076
|
|
|
|
|
|
|
|
|
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Directory: investor -> reportsreports -> United States Securities and Exchange Commission Washington, D. C. 20549 form 10-Kreports -> Dear shareholders, customers, partners and colleaguesreports -> To our shareholders, customers, partners and employeesinvestor -> Microsoft Financial Analyst Meeting 2013 Engineer Leader Panel Moderator: Tami Reller Julie Larson-Green, Kirill Tatarinov, Qi Lu, Satya Nadella, Terry Myerson Bellevue, Washington September 19, 2013 chris suh
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