Excel Corporation CASH FLOWS STATEMENTS (In millions) Year Ended June 30, 2019 2018 2017 2019 2018 2017 Operating Activities Net income $ 39,240 $ 16,571 $ 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 $ (792) $ (2,212) $ (2,073) derivatives 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 Unearned revenue Income taxes Other current liabilities Other long-term liabilities $ 232 $ 1,148 $ 81 ? ? ? $ 4,462 $ 5,922 $ 3,820 ? ? ? $ 2,929 $ 18,183 $ 1,792 ? ? ? $ 1,419 $ 798 $ 356 ? ? ? $ 591 $ (20) $ (118)? ? ? $ 52,185 $ 43,884 $ 39,507 ? ? ? Net cash from operations Financing Activities Repayments of short-term debt, maturities of 90 $ $ (7,324) $ (4,963) days or less, net ? ? ? Proceeds from issuance of debt $ $ 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 Activities Additions to property and equipment $ (13,925) $ (11,632) Acquisition of companies, net of cash acquired, $ (2,388) $ $ (888) $ (8,129)? ? ? (25,944) and purchases of intangible and other assets ? ? ? 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 $ $ (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 $ Cash and cash equivalents, beginning of period $ 11,946 $ 7,663 $ 1,153 ? 6,510 ? ? Cash and cash equivalents, end of period $ 11,356 $ 11,946 $ 7,663

Excel Corporation CASH FLOWS STATEMENTS (In millions) Year Ended June 30, 2019 2018 2017 2019 2018 2017 Operating Activities Net income $ 39,240 $ 16,571 $ 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 $ (792) $ (2,212) $ (2,073) derivatives 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 Unearned revenue Income taxes Other current liabilities Other long-term liabilities $ 232 $ 1,148 $ 81 ? ? ? $ 4,462 $ 5,922 $ 3,820 ? ? ? $ 2,929 $ 18,183 $ 1,792 ? ? ? $ 1,419 $ 798 $ 356 ? ? ? $ 591 $ (20) $ (118)? ? ? $ 52,185 $ 43,884 $ 39,507 ? ? ? Net cash from operations Financing Activities Repayments of short-term debt, maturities of 90 $ $ (7,324) $ (4,963) days or less, net ? ? ? Proceeds from issuance of debt $ $ 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 Activities Additions to property and equipment $ (13,925) $ (11,632) Acquisition of companies, net of cash acquired, $ (2,388) $ $ (888) $ (8,129)? ? ? (25,944) and purchases of intangible and other assets ? ? ? 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 $ $ (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 $ Cash and cash equivalents, beginning of period $ 11,946 $ 7,663 $ 1,153 ? 6,510 ? ? Cash and cash equivalents, end of period $ 11,356 $ 11,946 $ 7,663

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter3: Financial Statements, Cash Flow, And Taxes

Section: Chapter Questions

Problem 19SP

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