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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 31, 2019
May 31, 2018
May 31, 2017
Cash provided by operations:      
Net income $ 4,029 $ 1,933 $ 4,240
Adjustments to reconcile net income to net cash provided by operations:      
Depreciation 705 747 706
Deferred income taxes 34 647 (273)
Stock-based compensation 325 218 215
Amortization and other 15 27 10
Net foreign currency adjustments 233 (99) (117)
Changes in certain working capital components and other assets and liabilities:      
(Increase) decrease in accounts receivable (270) 187 (426)
(Increase) decrease in inventories (490) (255) (231)
(Increase) decrease in prepaid expenses and other current and non-current assets (203) 35 (120)
Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities 1,525 1,515 (158)
Cash provided by operations 5,903 4,955 3,846
Cash provided (used) by investing activities:      
Purchases of short-term investments (2,937) (4,783) (5,928)
Maturities of short-term investments 1,715 3,613 3,623
Sales of short-term investments 2,072 2,496 2,423
Additions to property, plant and equipment (1,119) (1,028) (1,105)
Disposals of property, plant and equipment 5 3 13
Other investing activities 0 (25) (34)
Cash provided (used) by investing activities (264) 276 (1,008)
Cash used by financing activities:      
Net proceeds from long-term debt issuance 0 0 1,482
Long-term debt payments, including current portion (6) (6) (44)
Increase (decrease) in notes payable (325) 13 327
Payments on capital lease and other financing obligations (27) (23) (17)
Proceeds from exercise of stock options and other stock issuances 700 733 489
Repurchase of common stock (4,286) (4,254) (3,223)
Dividends — common and preferred (1,332) (1,243) (1,133)
Tax payments for net share settlement of equity awards (17) (55) (29)
Cash used by financing activities (5,293) (4,835) (2,148)
Effect of exchange rate changes on cash and equivalents (129) 45 (20)
Net increase (decrease) in cash and equivalents 217 441 670
Cash and equivalents, beginning of year 4,249 3,808 3,138
CASH AND EQUIVALENTS, END OF YEAR 4,466 4,249 3,808
Cash paid during the year for:      
Interest, net of capitalized interest 153 125 98
Income taxes 757 529 703
Non-cash additions to property, plant and equipment 160 294 266
Dividends declared and not paid $ 347 $ 320 $ 300