v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Sep. 26, 2021
Sep. 27, 2020
Sep. 29, 2019
Operating Activities:      
Net income $ 9,043 $ 5,198 $ 4,386
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 1,582 1,393 1,401
Income tax provision (less than) in excess of income tax payments (245) (309) 1,976
Share-based compensation expense 1,663 1,212 1,037
Net gains on marketable securities and other investments (1,002) (336) (356)
Indefinite and long-lived asset impairment charges 5 0 203
Impairment losses on marketable securities and other investments 33 405 135
Other items, net (82) (142) (272)
Changes in assets and liabilities:      
Accounts receivable, net 426 (1,529) 1,373
Inventories (622) (1,157) 273
Other assets (1,649) (110) 78
Trade accounts payable 495 907 (443)
Payroll, benefits and other liabilities 1,091 528 (2,376)
Unearned revenues (202) (246) (129)
Net cash provided by operating activities 10,536 5,814 7,286
Investing Activities:      
Capital expenditures (1,888) (1,407) (887)
Purchases of debt and equity marketable securities (5,907) (6,213) 0
Proceeds from sales and maturities of debt and equity marketable securities 5,555 2,399 198
Acquisitions and other investments, net of cash acquired (1,377) (185) (252)
Proceeds from other investments 320 100 68
Other items, net (59) 43 67
Net cash used by investing activities (3,356) (5,263) (806)
Financing Activities:      
Proceeds from short-term debt 2,886 2,848 5,989
Repayment of short-term debt (2,885) (2,846) (6,492)
Proceeds from long-term debt 0 1,988 0
Repayment of long-term debt 0 (2,219) 0
Proceeds from issuance of common stock 347 329 414
Repurchases and retirements of common stock (3,366) (2,450) (1,793)
Dividends paid (3,008) (2,882) (2,968)
Payments of tax withholdings related to vesting of share-based awards (737) (347) (268)
Payment of purchase consideration related to RF360 Holdings (16) (55) (1,163)
Other items, net (19) (73) (105)
Net cash used by financing activities (6,798) (5,707) (6,386)
Effect of exchange rate changes on cash and cash equivalents 27 24 (32)
Net increase (decrease) in total cash and cash equivalents 409 (5,132) 62
Total cash and cash equivalents at beginning of period 6,707 11,839 11,777
Total cash and cash equivalents at end of period $ 7,116 $ 6,707 $ 11,839

Source