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CASH FLOWS STATEMENTS - USD ($)
$ in Millions
12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2017
Operations      
Net income $ 39,240 [1] $ 16,571 [2] $ 25,489
Adjustments to reconcile net income to net cash from operations:      
Depreciation, amortization, and other 11,682 10,261 8,778
Stock-based compensation expense 4,652 3,940 3,266
Net recognized gains on investments and derivatives (792) (2,212) (2,073)
Deferred income taxes (6,463) (5,143) (829)
Changes in operating assets and liabilities:      
Accounts receivable (2,812) (3,862) (1,216)
Inventories 597 (465) 50
Other current assets (1,718) (952) 1,028
Other long-term assets (1,834) (285) (917)
Accounts payable 232 1,148 81
Unearned revenue 4,462 5,922 3,820
Income taxes 2,929 18,183 1,792
Other current liabilities 1,419 798 356
Other long-term liabilities 591 (20) (118)
Net cash from operations 52,185 43,884 39,507
Financing      
Repayments of short-term debt, maturities of 90 days or less, net 0 (7,324) (4,963)
Proceeds from issuance of debt 0 7,183 44,344
Repayments of debt (4,000) (10,060) (7,922)
Common stock issued 1,142 1,002 772
Common stock repurchased (19,543) (10,721) (11,788)
Common stock cash dividends paid (13,811) (12,699) (11,845)
Other, net (675) (971) (190)
Net cash from (used in) financing (36,887) (33,590) 8,408
Investing      
Additions to property and equipment (13,925) (11,632) (8,129)
Acquisition of companies, net of cash acquired, and purchases of intangible and other assets (2,388) (888) (25,944)
Purchases of investments (57,697) (137,380) (176,905)
Maturities of investments 20,043 26,360 28,044
Sales of investments 38,194 117,577 136,350
Securities lending payable 0 (98) (197)
Net cash used in investing (15,773) (6,061) (46,781)
Effect of foreign exchange rates on cash and cash equivalents (115) 50 19
Net change in cash and cash equivalents (590) 4,283 1,153
Cash and cash equivalents, beginning of period 11,946 7,663 6,510
Cash and cash equivalents, end of period $ 11,356 $ 11,946 $ 7,663
[1] Reflects the $157 million net charge related to the enactment of the TCJA for the second quarter and the $2.6 billion net income tax benefit related to the intangible property transfers for the fourth quarter, which together increased net income by $2.4 billion for fiscal year 2019. See Note 12 – Income Taxes for further information.
[2] Reflects the net charge (benefit) related to the enactment of the TCJA of $13.8 billion for the second quarter, $(104) million for the fourth quarter, and $13.7 billion for fiscal year 2018.