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. 25, 2017
Jun. 26, 2016
Operating Activities:    
Net income $ 2,296 $ 4,103
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 1,064 1,092
Indefinite and long-lived asset impairment charges 76 94
Income tax provision less than income tax payments (467) (236)
Gain on sale of wireless spectrum 0 (380)
Non-cash portion of share-based compensation expense 712 730
Incremental tax benefits from share-based compensation (38) (3)
Net realized gains on marketable securities and other investments (375) (142)
Impairment losses on marketable securities and other investments 163 138
Other items, net 14 0
Changes in assets and liabilities:    
Accounts receivable, net (1,021) 39
Inventories (182) 169
Other assets 111 153
Trade accounts payable (543) 263
Payroll, benefits and other liabilities 615 (434)
Unearned revenues (149) (270)
Net cash provided by operating activities 2,276 5,316
Investing Activities:    
Capital expenditures (428) (389)
Purchases of available-for-sale marketable securities (15,509) (12,960)
Proceeds from sales and maturities of available-for-sale marketable securities 19,643 10,303
Purchases of trading securities 0 (177)
Proceeds from sales and maturities of trading securities 0 779
Purchases of other marketable securities (705) 0
Proceeds from sales of other marketable securities 0 450
Deposits of investments designated as collateral (2,000) 0
Acquisitions and other investments, net of cash acquired (1,401) (663)
Proceeds from sale of wireless spectrum 0 232
Other items, net 58 196
Net cash used by investing activities (342) (2,229)
Financing Activities:    
Proceeds from short-term debt 6,848 6,633
Repayment of short-term debt (7,598) (5,885)
Proceeds from long-term debt 10,953 0
Proceeds from issuance of common stock 331 422
Repurchases and retirements of common stock (1,027) (3,698)
Dividends paid (2,411) (2,208)
Incremental tax benefits from share-based compensation 38 3
Other items, net (133) (32)
Net cash provided (used) by financing activities 7,001 (4,765)
Effect of exchange rate changes on cash and cash equivalents 28 3
Net increase (decrease) in cash and cash equivalents 8,963 (1,675)
Cash and cash equivalents at beginning of period 5,946 7,560
Cash and cash equivalents at end of period $ 14,909 $ 5,885