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, unless otherwise specified
 12 Months Ended
Sep. 29, 2013
Sep. 30, 2012
Sep. 25, 2011
Operating Activities:      
Net income $ 6,845 $ 6,059 $ 4,242
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 1,017 897 1,061
Gain on sale of wireless spectrum 0 (1,179) 0
Goodwill and Long-Lived Asset Impairment 192 84 128
Revenues related to non-monetary exchanges (123) (122) (123)
Income tax provision in excess of (less than) income tax payments 268 395 (1,204)
Non-cash portion of share-based compensation expense 1,105 1,035 824
Incremental tax benefit from share-based compensation (231) (168) (183)
Net realized gains on marketable securities and other investments (369) (369) (337)
Net impairment losses on marketable securities and other investments 85 83 52
Other items, net 104 (52) (2)
Changes in assets and liabilities, net of effects of acquisitions:      
Accounts receivable, net (680) (456) (140)
Inventories (300) (252) (62)
Other assets (209) (240) (70)
Trade accounts payable 307 371 (26)
Payroll, benefits and other liabilities 752 (341) 572
Unearned revenues 15 253 168
Net cash provided by operating activities 8,778 5,998 4,900
Investing Activities:      
Capital expenditures (1,048) (1,284) (593)
Purchases of available-for-sale securities (13,951) (15,511) (10,948)
Proceeds from sales and maturities of available-for-sale securities 13,494 9,858 10,661
Purchases of trading securities (3,312) (4,009) 0
Proceeds from sales and maturities of trading securities 3,367 3,060 0
Proceeds from sale of wireless spectrum 0 1,925 0
Acquisitions and other investments, net of cash acquired (192) (833) (3,624)
Other items, net 64 (83) 15
Net cash used by investing activities (1,578) (6,877) (4,489)
Financing Activities:      
Borrowings under loans and debentures 534 710 1,555
Repayments of loans and debentures (439) (591) (1,555)
Proceeds from issuance of common stock 1,525 1,714 2,647
Incremental tax benefit from share-based compensation 231 168 183
Repurchase and retirement of common stock (4,610) (1,313) (142)
Dividends paid (2,055) (1,583) (1,346)
Other items, net (31) 138 176
Net cash (used) provided by financing activities (4,845) (757) 1,518
Changes in cash and cash equivalents held for sale (15) 0 0
Effect of exchange rate changes on cash (5) (19) (14)
Net increase (decrease) in cash and cash equivalents 2,335 (1,655) 1,915
Cash and cash equivalents at beginning of year 3,807 5,462 3,547
Cash and cash equivalents at end of year $ 6,142 $ 3,807 $ 5,462