v3.20.4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Dec. 27, 2020
Dec. 29, 2019
Operating Activities:    
Net Income $ 2,455 $ 925
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 364 351
Income tax provision in excess of (less than) income tax payments 53 (131)
Share-based compensation expense 392 294
Net gains on marketable securities and other investments (195) (79)
Impairment losses on other investments 1 72
Other items, net (19) (26)
Changes in assets and liabilities:    
Accounts receivable, net (141) (262)
Inventories 62 (17)
Other assets (97) (119)
Trade accounts payable 129 396
Payroll, benefits and other liabilities 278 (171)
Unearned revenues (107) (115)
Net cash provided by operating activities 3,175 1,118
Investing Activities:    
Capital expenditures (469) (296)
Purchases of debt and equity marketable securities (2,248) (10)
Proceeds from sales and maturities of debt and equity marketable securities 1,612 129
Acquisitions and other investments, net of cash acquired (138) (75)
Other items, net 41 49
Net cash used by investing activities (1,202) (203)
Financing Activities:    
Proceeds from short-term debt 819 558
Repayment of short-term debt (818) (558)
Repurchases and retirements of common stock (444) (762)
Dividends paid (739) (710)
Payments of tax withholdings related to vesting of share-based awards (449) (203)
Other items, net (14) 16
Net cash used by financing activities (1,645) (1,659)
Effect of exchange rate changes on cash and cash equivalents 41 14
Net increase (decrease) in total cash and cash equivalents 369 (730)
Total cash and cash equivalents at beginning of period 6,707 11,839
Total cash and cash equivalents at end of period $ 7,076 $ 11,109

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