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, unless otherwise specified
 6 Months Ended
Mar. 25, 2012
Mar. 27, 2011
Operating Activities:    
Net income $ 3,594 [1] $ 2,164 [2]
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 419 635
Gain on sale of spectrum (1,179) 0
Goodwill impairment 16 114
Revenues related to non-monetary exchanges (61) (62)
Income tax provision in excess of (less than) income tax payments 500 (1,334)
Non-cash portion of share-based compensation expense 488 375
Incremental tax benefit from stock options exercised (98) (132)
Net realized gains on marketable securities and other investments (144) (231)
Gains on derivative instruments (74) 0
Other items, net 46 35
Changes in assets and liabilities, net of effects of acquisitions:    
Accounts receivable, net (195) 23
Inventories (21) (81)
Other assets (10) (19)
Trade accounts payable 287 (145)
Payroll, benefits and other liabilities (261) 269
Unearned revenues 360 205
Net cash provided by operating activities 3,667 1,816
Investing Activities:    
Capital expenditures (635) (181)
Purchases of available-for-sale securities (7,036) (5,845)
Proceeds from sale of available-for-sale securities 3,543 5,467
Purchases of trading securities (1,639) 0
Proceeds from sale of trading securities 651 0
Proceeds from sale of spectrum 1,925 0
Acquisitions and other investments, net of cash acquired (329) (89)
Other items, net (53) 23
Net cash used by investing activities (3,573) (625)
Financing Activities:    
Borrowing under loans payable 232 1,260
Repayment of loans payable (151) (1,260)
Proceeds from issuance of common stock 1,135 2,024
Incremental tax benefit from stock options exercised 98 132
Repurchase and retirement of common stock (99) 0
Dividends paid (729) (625)
Other items, net (39) 88
Net cash provided by financing activities 447 1,619
Effect of exchange rate changes on cash (5) 10
Net increase in cash and cash equivalents 536 2,820
Cash and cash equivalents at beginning of period 5,462 3,547
Cash and cash equivalents at end of period $ 5,998 $ 6,367
[1] Discontinued operations, net of income taxes, (Note 8) was attributable to Qualcomm.
[2] As adjusted for discontinued operations (Note 8)