Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.3.0.15
Consolidated Statements of Cash Flows (USD $)
In Millions
 12 Months Ended
Sep. 25, 2011
Sep. 26, 2010
Sep. 27, 2009
Operating Activities:      
Net income $ 4,242 $ 3,247 $ 1,592
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,061 666 635
Goodwill impairment 114 0 0
Revenues related to non-monetary exchanges (123) (130) (114)
Income tax provision (less than) in excess of income tax payments (1,204) 116 (33)
Non-cash portion of share-based compensation expense 824 612 584
Incremental tax benefit from stock options exercised (183) (45) (79)
Net realized gains on marketable securities and other investments (337) (405) (137)
Net impairment losses on marketable securities and other investments 52 125 763
Other items, net 12 (64) (32)
Changes in assets and liabilities, net of effects of acquisitions:      
Accounts receivable, net (140) (18) 3,083
Inventories (62) (80) 69
Other assets (70) (60) (58)
Trade accounts payable (26) 148 57
Payroll, benefits and other liabilities 572 (229) 984
Unearned revenues 168 193 (142)
Net cash provided by operating activities 4,900 4,076 7,172
Investing Activities:      
Capital expenditures (593) (426) (761)
Advance payment on spectrum (Note 9) 0 (1,064) 0
Purchases of available-for-sale securities (10,948) (8,973) (10,443)
Proceeds from sale of available-for-sale securities 10,661 10,440 5,274
Purchases of other marketable securities 0 (850) 0
Cash received for partial settlement of investment receivables 18 34 349
Atheros acquisition, net of cash acquired (Note 12) (3,130) 0 0
Other investments and acquisitions, net of cash acquired (494) (94) (54)
Change in collateral held under securities lending 0 0 173
Other items, net (3) 94 5
Net cash used by investing activities (4,489) (839) (5,457)
Financing Activities:      
Borrowing under loans payable 1,555 1,064 0
Repayment of loans payable (1,555) 0 0
Proceeds from issuance of common stock 2,647 689 642
Proceeds from put option premiums 75 0 0
Proceeds from issuance of subsidiary shares to noncontrolling interests (Note 7) 62 0 0
Incremental tax benefit from stock options exercised 183 45 79
Repurchase and retirement of common stock (142) (3,016) (285)
Dividends paid (1,346) (1,177) (1,093)
Change in obligation under securities lending 46 0 (173)
Other items, net (7) (10) (3)
Net cash provided (used) by financing activities 1,518 (2,405) (833)
Effect of exchange rate changes on cash (14) (2) (5)
Net increase in cash and cash equivalents 1,915 830 877
Cash and cash equivalents at beginning of year 3,547 2,717 1,840
Cash and cash equivalents at end of year $ 5,462 $ 3,547 $ 2,717