A pple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) September 30, 2017 20,484 September 24, 2016 Years ended Septan her 26, 2015 Cash and cash equivaknts, beginning of the year Operating activitics: 21,120 13,844 Net income 48,351 45,687 53,394 Adjustments to reconcik net income to cash generated by operating activities: Depreciation and amortization 10,157 10,505 11,257 Share- based compensation apene 4,840 4,210 3,586 Defered income tax expense 5,966 4,938 1,382 Other (166) 486 385 Changes in operating assets and liabilitke : Accounts receivable, net (2,093) 527 417 Inventories (2,723) 217 (238) Vendor non-trade receivabkes (4,254) (51) (3,735) Other current and non-cure nt assets (5,318) 1,055 (283) Accounts payable 9,618 1,837 5,001 Deferred evenue (626) (1,554) 1,042 Other current and non-curent liabilities (154) (2,033) 9,058 Cash generated by operating activities 63,598 65,824 81,266 Investing activities Purchases of marketable securities (199,486) (142,428) (166,002) Prucceds from maturitie s of marketable securities 31,775 21,258 14,538 Prucceds from sales of marketabke securities 94,564 90,536 107,447 Payments made in connection with business acquisitions, net (329) (297) (343) Payments for acquisition of property, plant and equipment (12,451) (12,734) (11,247) (344) Payments for acquisition of intangible ascts Payments for strate gic investments, net (814) (241) (395) (1,388) Other 220 (110) (26) Cash used in investing activitics (46,446) (45,977) (56,274) Financing activities: Prucceds from issuane of common stock 555 495 543 Excess tax benefits from equity awards Payments for taxes related to et share settkment of equity awards 627 407 749 (1,874) (1,50) (1,499) Payments for dividends and dividendequivaknts (12,769) (12,150) (11,561) Repurchases of common stock (32,900) (29,722) (35,253) Pruceds from issuance of term debt, net 28,662 24,954 27,114 Repayments of term deht (3,500) (2,500) Change in commercial paper, net (397) 3,852 (17,347) 2,191 Cash used in financing activities (20,483) (17,716) Increase (decre ase) in cash and cash equivalents (195) (636) 7,776 Cash and cash equivaknts, end of the year 20,289 20,484 21,120 Supplemental cash flow disclosur: Cash paid for income taxes, net 11,591 10,444 13,252 Cash paid for inerest 2,092 1,316 514 See accompany ing Noes to Consolidated Financial Statements.

A pple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) September 30, 2017 20,484 September 24, 2016 Years ended Septan her 26, 2015 Cash and cash equivaknts, beginning of the year Operating activitics: 21,120 13,844 Net income 48,351 45,687 53,394 Adjustments to reconcik net income to cash generated by operating activities: Depreciation and amortization 10,157 10,505 11,257 Share- based compensation apene 4,840 4,210 3,586 Defered income tax expense 5,966 4,938 1,382 Other (166) 486 385 Changes in operating assets and liabilitke : Accounts receivable, net (2,093) 527 417 Inventories (2,723) 217 (238) Vendor non-trade receivabkes (4,254) (51) (3,735) Other current and non-cure nt assets (5,318) 1,055 (283) Accounts payable 9,618 1,837 5,001 Deferred evenue (626) (1,554) 1,042 Other current and non-curent liabilities (154) (2,033) 9,058 Cash generated by operating activities 63,598 65,824 81,266 Investing activities Purchases of marketable securities (199,486) (142,428) (166,002) Prucceds from maturitie s of marketable securities 31,775 21,258 14,538 Prucceds from sales of marketabke securities 94,564 90,536 107,447 Payments made in connection with business acquisitions, net (329) (297) (343) Payments for acquisition of property, plant and equipment (12,451) (12,734) (11,247) (344) Payments for acquisition of intangible ascts Payments for strate gic investments, net (814) (241) (395) (1,388) Other 220 (110) (26) Cash used in investing activitics (46,446) (45,977) (56,274) Financing activities: Prucceds from issuane of common stock 555 495 543 Excess tax benefits from equity awards Payments for taxes related to et share settkment of equity awards 627 407 749 (1,874) (1,50) (1,499) Payments for dividends and dividendequivaknts (12,769) (12,150) (11,561) Repurchases of common stock (32,900) (29,722) (35,253) Pruceds from issuance of term debt, net 28,662 24,954 27,114 Repayments of term deht (3,500) (2,500) Change in commercial paper, net (397) 3,852 (17,347) 2,191 Cash used in financing activities (20,483) (17,716) Increase (decre ase) in cash and cash equivalents (195) (636) 7,776 Cash and cash equivaknts, end of the year 20,289 20,484 21,120 Supplemental cash flow disclosur: Cash paid for income taxes, net 11,591 10,444 13,252 Cash paid for inerest 2,092 1,316 514 See accompany ing Noes to Consolidated Financial Statements.

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 32BE

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