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MSFT 36 / 2002 FORM 10-K
Part II
Item 8
CASH FLOWS STATEMENTS
In millions
Y
ear Ended June 30 2000 2001 2002
Operations
Net income $ 9,421
$ 7,346 $7,829
Cumulative effect of accounting change, net of tax –
375
–
Depreciation, amortization, and other noncash items 1,250
1,536 1,084
Net recognized (gains)/losses on investments (1,732)
2,221 2,424
Stock option income tax benefits 5,535
2,066 1,596
Deferred income taxes (425)
(420) (416)
Unearned revenue 6,177
6,970 11,152
Recognition of unearned revenue (5,600)
(6,369) (8,929)
Accounts receivable (944)
(418) (1,623)
Other current assets (775)
(482) (264)
Other long-term assets (864)
(330) (9)
Other current liabilities (992)
774 1,449
Other long-term liabilities 375
153 216
Net cash from operations 11,426
13,422 14,509
Financing
Common stock issued 2,245
1,620 1,497
Common stock repurchased (4,896)
(6,074) (6,069)
Sales/(repurchases) of put warrants 472
(1,367)
–
Preferred stock dividends (13)
–
–
Other, net –
235
–
Net cash used for financing (2,192)
(5,586) (4,572)
Investing
Additions to property and equipment (879)
(1,103) (770)
Purchases of investments (42,290)
(66,346) (89,386)
Maturities of investments 4,025
5,867 8,654
Sales of investments 29,752
52,848 70,657
Net cash used for investing (9,392)
(8,734) (10,845)
Net change in cash and equivalents (158)
(898) (908)
Effect of exchange rates on cash and equivalents 29
(26) 2
Cash and equivalents, beginning of year 4,975
4,846 3,922
Cash and equivalents, end of year $ 4,846
$ 3,922 $3,016
See accompanying notes.