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 S 25,489 Adjustments to reconcile net income to net cash from operations: Depreciation, amortization, and other S 11,682 $ 10,261 S 8,778 Stock-based compensation expense S 4,652 S 3,940 S 3.266 Net recognized gains on investments and derivatives $ (792) S (2,212) S (2,073) Deferred income taxes S (6,463) $ (5,143) S (829) Changes in operating assets and liabilities: Accounts receivable S (2,812) $ (3,862) S (1.216) Inventories Other current assets Other long-term assets Accounts payable Unearned revenue Income taxes Other current liabilities Other long-term liabilities S 597 $ (465) S 50 S (1,718) S (952) S 1,028 S (1,834) S (285) S (917) S 232 S 1,148 S 81 $ 4,462 $ 5,922 S 3,820 S 2.929 $ 18,183 S 1,792 S 1,419 S 798 $ 356 S 591 S (20) S (118) S 52,185 S 43.884 $ 39,507 Net cash from operations Financing Activities Repayments of short-term debt, maturities of 90 days or S $ (7,324) S (4.963) less, net Proceeds from issuance of debt S $ 7.183 $ 44,344 Repayments of debt $ (4,000) S (10,060) S (7,922) Common stock issued S 1,142 $ 1,002 S 772 Common stock repurchased S (19,543) $ (10,721) $ (11,788) Common stock cash dividends paid S (13,811) $ (12,699) $ (11,845) Other, net S (675) S (971) S (190) Net cash from (used in) financing S (36,887) S (33,590) S 8.408 Investing Activities Additions to property and equipment S (13,925) $ (11,632) $ (8,129) Acquisition of companies, net of cash acquired, and S (2,388) S (888) $ (25,944) purchases of intangible and other assets Purchases of investments S (57,697) S (137,380) $ (176,905) Maturities of investments Sales of investments S 20,043 S 26,360 S 28,044 S 38,194 S 117,577 S 136,350 Securities lending payable S S (98) S (197) Net cash used in investing S (15,773) $ (6,061) $ (46,781) Effect of foreign exchange rates on cash and cash equivalents S (115) S 50 S 19 Net change in cash and cash equivalents S Cash and cash equivalents, beginning of period S (590) $ 11,946 $ 4,283 S 1,153 7,663 S 6,510 Cash and cash equivalents, end of period S 11,356 S 11,946 S 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 S 25,489 Adjustments to reconcile net income to net cash from operations: Depreciation, amortization, and other S 11,682 $ 10,261 S 8,778 Stock-based compensation expense S 4,652 S 3,940 S 3.266 Net recognized gains on investments and derivatives $ (792) S (2,212) S (2,073) Deferred income taxes S (6,463) $ (5,143) S (829) Changes in operating assets and liabilities: Accounts receivable S (2,812) $ (3,862) S (1.216) Inventories Other current assets Other long-term assets Accounts payable Unearned revenue Income taxes Other current liabilities Other long-term liabilities S 597 $ (465) S 50 S (1,718) S (952) S 1,028 S (1,834) S (285) S (917) S 232 S 1,148 S 81 $ 4,462 $ 5,922 S 3,820 S 2.929 $ 18,183 S 1,792 S 1,419 S 798 $ 356 S 591 S (20) S (118) S 52,185 S 43.884 $ 39,507 Net cash from operations Financing Activities Repayments of short-term debt, maturities of 90 days or S $ (7,324) S (4.963) less, net Proceeds from issuance of debt S $ 7.183 $ 44,344 Repayments of debt $ (4,000) S (10,060) S (7,922) Common stock issued S 1,142 $ 1,002 S 772 Common stock repurchased S (19,543) $ (10,721) $ (11,788) Common stock cash dividends paid S (13,811) $ (12,699) $ (11,845) Other, net S (675) S (971) S (190) Net cash from (used in) financing S (36,887) S (33,590) S 8.408 Investing Activities Additions to property and equipment S (13,925) $ (11,632) $ (8,129) Acquisition of companies, net of cash acquired, and S (2,388) S (888) $ (25,944) purchases of intangible and other assets Purchases of investments S (57,697) S (137,380) $ (176,905) Maturities of investments Sales of investments S 20,043 S 26,360 S 28,044 S 38,194 S 117,577 S 136,350 Securities lending payable S S (98) S (197) Net cash used in investing S (15,773) $ (6,061) $ (46,781) Effect of foreign exchange rates on cash and cash equivalents S (115) S 50 S 19 Net change in cash and cash equivalents S Cash and cash equivalents, beginning of period S (590) $ 11,946 $ 4,283 S 1,153 7,663 S 6,510 Cash and cash equivalents, end of period S 11,356 S 11,946 S 7,663

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 40E

See similar textbooks