CASH FLOWS STATEMENTS - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2017		Jun. 30, 2016		Jun. 30, 2015
Operations
Net income	$ 21,204	[1],[2]	$ 16,798	[3]	$ 12,193
Adjustments to reconcile net income to net cash from operations:
Goodwill and asset impairments	0		630		7,498
Depreciation, amortization, and other	8,778		6,622		5,957
Stock-based compensation expense	3,266		2,668		2,574
Net recognized gains on investments and derivatives	(2,073)		(223)		(443)
Deferred income taxes	(3,296)		332		224
Deferral of unearned revenue	67,711		57,072		45,072
Recognition of unearned revenue	(57,735)		(48,498)		(44,920)
Changes in operating assets and liabilities:
Accounts receivable	(925)		(530)		1,456
Inventories	50		600		(272)
Other current assets	1,066		(1,167)		62
Other long-term assets	(539)		(41)		346
Accounts payable	81		88		(1,054)
Other current liabilities	386		(260)		(624)
Other long-term liabilities	1,533		(766)		1,599
Net cash from operations	39,507		33,325		29,668
Financing
Proceeds from issuance (repayments) of short-term debt, maturities of 90 days or less, net	(4,963)		7,195		4,481
Proceeds from issuance of debt	44,344		13,884		10,680
Repayments of debt	(7,922)		(2,796)		(1,500)
Common stock issued	772		668		634
Common stock repurchased	(11,788)		(15,969)		(14,443)
Common stock cash dividends paid	(11,845)		(11,006)		(9,882)
Other, net	(190)		(369)		362
Net cash from (used in) financing	8,408		(8,393)		(9,668)
Investing
Additions to property and equipment	(8,129)		(8,343)		(5,944)
Acquisition of companies, net of cash acquired, and purchases of intangible and other assets	(25,944)		(1,393)		(3,723)
Purchases of investments	(176,905)		(129,758)		(98,729)
Maturities of investments	28,044		22,054		15,013
Sales of investments	136,350		93,287		70,848
Securities lending payable	(197)		203		(466)
Net cash used in investing	(46,781)		(23,950)		(23,001)
Effect of foreign exchange rates on cash and cash equivalents	19		(67)		(73)
Net change in cash and cash equivalents	1,153		915		(3,074)
Cash and cash equivalents, beginning of period	6,510		5,595		8,669
Cash and cash equivalents, end of period	$ 7,663		$ 6,510		$ 5,595

[1] Includes $306 million of employee severance expenses primarily related to our sales and marketing restructuring plan, which decreased operating income, net income, and diluted EPS by $306 million, $243 million, and $0.03, respectively.

[2] On December 8, 2016, we acquired LinkedIn Corporation. LinkedIn has been included in our consolidated results of operations starting on the acquisition date.

[3] Includes $630 million of asset impairment charges related to our phone business, and $480 million of restructuring charges associated with our 2016 restructuring plans, which together decreased operating income, net income, and diluted EPS by $1.1 billion, $895 million, and $0.11, respectively.