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
 9 Months Ended
Jun. 26, 2016
Jun. 28, 2015
Operating Activities:    
Net income $ 4,103 $ 4,207
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 1,092 888
Indefinite and long-lived asset impairment charges 94 304
Income tax provision (less than) in excess of income tax payments (236) 159
Gain on sale of wireless spectrum (380) 0
Non-cash portion of share-based compensation expense 730 793
Incremental tax benefits from share-based compensation (3) (98)
Net realized gains on marketable securities and other investments (142) (399)
Impairment losses on marketable securities and other investments 138 161
Other items, net 0 (29)
Changes in assets and liabilities:    
Accounts receivable, net 39 438
Inventories 169 (122)
Other assets 153 (897)
Trade accounts payable 263 (769)
Payroll, benefits and other liabilities (434) (406)
Unearned revenues (270) (408)
Net cash provided by operating activities 5,316 3,822
Investing Activities:    
Capital expenditures (389) (815)
Purchases of available-for-sale securities (12,960) (13,118)
Proceeds from sales and maturities of available-for-sale securities 10,303 11,897
Purchases of trading securities (177) (1,034)
Proceeds from sales and maturities of trading securities 779 1,008
Proceeds from sales of other marketable securities 450 0
Proceeds from sales of property, plant and equipment 15 161
Acquisitions and other investments, net of cash acquired (663) (325)
Proceeds from sale of wireless spectrum 232 0
Other items, net 181 6
Net cash used by investing activities (2,229) (2,220)
Financing Activities:    
Proceeds from short-term debt 6,633 2,813
Proceeds from long-term debt 0 9,937
Repayment of short-term debt (5,885) (1,814)
Proceeds from issuance of common stock 422 571
Repurchases and retirements of common stock (3,698) (9,016)
Dividends paid (2,208) (2,142)
Incremental tax benefits from share-based compensation 3 98
Other items, net (32) 41
Net cash (used) provided by financing activities (4,765) 488
Effect of exchange rate changes on cash and cash equivalents 3 (10)
Net (decrease) increase in cash and cash equivalents (1,675) 2,080
Cash and cash equivalents at beginning of period 7,560 7,907
Cash and cash equivalents at end of period $ 5,885 $ 9,987