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
 3 Months Ended
Dec. 26, 2021
Dec. 27, 2020
Operating Activities:    
Net income $ 3,399 $ 2,455
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 406 364
Income tax provision in excess of income tax payments 272 53
Share-based compensation expense 496 392
Net gains on marketable securities and other investments (103) (195)
Other items, net (25) (18)
Changes in assets and liabilities:    
Accounts receivable, net (454) (141)
Inventories (638) 62
Other assets (1,504) (97)
Trade accounts payable 781 129
Payroll, benefits and other liabilities (495) 278
Unearned revenues (78) (107)
Net cash provided by operating activities 2,057 3,175
Investing Activities:    
Capital expenditures (583) (469)
Purchases of debt and equity marketable securities (517) (2,248)
Proceeds from sales and maturities of debt and equity marketable securities 1,133 1,612
Acquisitions and other investments, net of cash acquired (238) (138)
Proceeds from other investments 93 10
Other items, net 0 31
Net cash used by investing activities (112) (1,202)
Financing Activities:    
Proceeds from short-term debt 710 819
Repayment of short-term debt (710) (818)
Repurchases and retirements of common stock (1,178) (444)
Dividends paid (765) (739)
Payments of tax withholdings related to vesting of share-based awards (500) (449)
Other items, net (3) (14)
Net cash used by financing activities (2,446) (1,645)
Effect of exchange rate changes on cash and cash equivalents (8) 41
Net (decrease) increase in total cash and cash equivalents (509) 369
Total cash and cash equivalents at beginning of period 7,116 6,707
Total cash and cash equivalents at end of period $ 6,607 $ 7,076