Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2023
Sep. 25, 2022
Sep. 26, 2021
Operating Activities:      
Income from continuing operations $ 7,339 $ 12,986 $ 9,043
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 1,809 1,762 1,582
Indefinite and long-lived asset impairment charges 182 2 5
Income tax provision less than income tax payments (1,269) (138) (245)
Share-based compensation expense 2,484 2,031 1,663
Net (gains) losses on marketable securities and other investments (152) 432 (1,002)
Impairment losses on other investments 132 47 33
Other items, net 25 (56) (82)
Changes in assets and liabilities:      
Accounts receivable, net 2,472 (2,066) 426
Inventories 8 (3,137) (622)
Other assets 603 (2,266) (1,649)
Trade accounts payable (1,880) 1,036 495
Payroll, benefits and other liabilities 1 (1,043) 1,091
Unearned revenues (56) (324) (202)
Net cash used by operating activities from discontinued operations (399) (170) 0
Net cash provided by operating activities 11,299 9,096 10,536
Investing Activities:      
Capital expenditures (1,450) (2,262) (1,888)
Purchases of debt and equity marketable securities (668) (1,414) (5,907)
Proceeds from sales and maturities of debt and equity marketable securities 1,566 2,622 5,555
Acquisitions and other investments, net of cash acquired (235) (4,912) (1,377)
Proceeds from sales of property, plant and equipment 127 5 3
Proceeds from other investments 20 132 320
Other items, net 19 41 (62)
Net cash provided (used) by investing activities from discontinued operations 1,383 (16) 0
Net cash provided (used) by investing activities 762 (5,804) (3,356)
Financing Activities:      
Proceeds from short-term debt 5,068 7,000 2,886
Repayment of short-term debt (5,566) (7,003) (2,885)
Repayment of debt of acquired company 0 (349) 0
Proceeds from long-term debt 1,880 1,477 0
Repayment of long-term debt 1,446 1,540 0
Proceeds from issuance of common stock 434 356 347
Repurchases and retirements of common stock (2,973) (3,129) (3,366)
Dividends paid (3,462) (3,212) (3,008)
Payments of tax withholdings related to vesting of share-based awards (521) (766) (737)
Other items, net (19) (34) (35)
Net cash (used) provided by financing activities from discontinued operations (58) 4 0
Net cash used by financing activities (6,663) (7,196) (6,798)
Effect of exchange rate changes on cash and cash equivalents 30 (113) 27
Net increase (decrease) in total cash and cash equivalents 5,428 (4,017) 409
Total cash and cash equivalents at beginning of period (including $326 classified as held for sale at September 25, 2022) 3,099 7,116 6,707
Total cash and cash equivalents at end of period (including $77 and $326 classified as held for sale at September 24, 2023 and September 25, 2022, respectively) 8,527 3,099 $ 7,116
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents $ 77 $ 326