Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Dec. 27, 2015
Dec. 28, 2014
Operating Activities:    
Net income $ 1,496 $ 1,971
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 364 287
Indefinite and long-lived asset impairment charges 2 75
Income tax provision less than income tax payments (103) (7)
Realized gain on sale of wireless spectrum (380) 0
Non-cash portion of share-based compensation expense 247 273
Incremental tax benefits from share-based compensation (2) (48)
Net realized gains on marketable securities and other investments (49) (166)
Impairment losses on marketable securities and other investments 63 65
Other items, net (13) (31)
Changes in assets and liabilities:    
Accounts receivable, net 646 173
Inventories 291 (303)
Other assets 66 (140)
Trade accounts payable 50 268
Payroll, benefits and other liabilities 98 20
Unearned revenues (37) (73)
Net cash provided by operating activities 2,739 2,364
Investing Activities:    
Capital expenditures (128) (253)
Purchases of available-for-sale securities (3,737) (5,966)
Proceeds from sales and maturities of available-for-sale securities 3,113 4,578
Purchases of trading securities (149) (302)
Proceeds from sales and maturities of trading securities 121 296
Proceeds from sales of other marketable securities 200 0
Acquisitions and other investments, net of cash acquired (450) (111)
Proceeds from sale of wireless spectrum 232 0
Other items, net 82 22
Net cash used by investing activities (716) (1,736)
Financing Activities:    
Proceeds from short-term debt 1,089 0
Repayment of short-term debt (1,090) 0
Proceeds from issuance of common stock 99 116
Repurchases and retirements of common stock (2,050) (1,664)
Dividends paid (717) (697)
Incremental tax benefits from share-based compensation 2 48
Other items, net 2 (6)
Net cash used by financing activities (2,665) (2,203)
Effect of exchange rate changes on cash and cash equivalents (5) (7)
Net decrease in cash and cash equivalents (647) (1,582)
Cash and cash equivalents at beginning of period 7,560 7,907
Cash and cash equivalents at end of period $ 6,913 $ 6,325