Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2022
Sep. 26, 2021
Sep. 27, 2020
Operating Activities:      
Income from continuing operations $ 12,986 $ 9,043 $ 5,198
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 1,762 1,582 1,393
Income tax provision less than income tax payments (138) (245) (309)
Share-based compensation expense 2,031 1,663 1,212
Net losses (gains) on marketable securities and other investments 432 (1,002) (336)
Impairment losses on marketable securities and other investments 47 33 405
Other items, net (54) (77) (142)
Changes in assets and liabilities:      
Accounts receivable, net (2,066) 426 (1,529)
Inventories (3,137) (622) (1,157)
Other assets (2,266) (1,649) (110)
Trade accounts payable 1,036 495 907
Payroll, benefits and other liabilities (1,043) 1,091 528
Unearned revenues (324) (202) (246)
Net cash used by operating activities from discontinued operations (170) 0 0
Net cash provided by operating activities 9,096 10,536 5,814
Investing Activities:      
Capital expenditures (2,262) (1,888) (1,407)
Purchases of debt and equity marketable securities (1,414) (5,907) (6,213)
Proceeds from sales and maturities of debt and equity marketable securities 2,622 5,555 2,399
Acquisitions and other investments, net of cash acquired (4,912) (1,377) (185)
Proceeds from other investments 132 320 100
Other items, net 30 (59) 43
Net cash used by investing activities (5,804) (3,356) (5,263)
Financing Activities:      
Proceeds from short-term debt 7,000 2,886 2,848
Repayment of short-term debt (7,003) (2,885) (2,846)
Repayment of debt of acquired company (349) 0 0
Proceeds from long-term debt 1,477 0 1,988
Repayment of long-term debt (1,540) 0 (2,219)
Proceeds from issuance of common stock 356 347 329
Repurchases and retirements of common stock (3,129) (3,366) (2,450)
Dividends paid (3,212) (3,008) (2,882)
Payments of tax withholdings related to vesting of share-based awards (766) (737) (347)
Other items, net (30) (35) (128)
Net cash used by financing activities (7,196) (6,798) (5,707)
Effect of exchange rate changes on cash and cash equivalents (113) 27 24
Net (decrease) increase in total cash and cash equivalents (4,017) 409 (5,132)
Total cash and cash equivalents at beginning of period 7,116 6,707 11,839
Total cash and cash equivalents at end of period (including $326 million classified as held for sale at September 25, 2022) 3,099 $ 7,116 $ 6,707
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents $ 326