v3.7.0.1
CASH FLOWS STATEMENTS - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2015
Operations      
Net income $ 21,204 [1],[2] $ 16,798 [3] $ 12,193
Adjustments to reconcile net income to net cash from operations:      
Goodwill and asset impairments 0 630 7,498
Depreciation, amortization, and other 8,778 6,622 5,957
Stock-based compensation expense 3,266 2,668 2,574
Net recognized gains on investments and derivatives (2,073) (223) (443)
Deferred income taxes (3,296) 332 224
Deferral of unearned revenue 67,711 57,072 45,072
Recognition of unearned revenue (57,735) (48,498) (44,920)
Changes in operating assets and liabilities:      
Accounts receivable (925) (530) 1,456
Inventories 50 600 (272)
Other current assets 1,066 (1,167) 62
Other long-term assets (539) (41) 346
Accounts payable 81 88 (1,054)
Other current liabilities 386 (260) (624)
Other long-term liabilities 1,533 (766) 1,599
Net cash from operations 39,507 33,325 29,668
Financing      
Proceeds from issuance (repayments) of short-term debt, maturities of 90 days or less, net (4,963) 7,195 4,481
Proceeds from issuance of debt 44,344 13,884 10,680
Repayments of debt (7,922) (2,796) (1,500)
Common stock issued 772 668 634
Common stock repurchased (11,788) (15,969) (14,443)
Common stock cash dividends paid (11,845) (11,006) (9,882)
Other, net (190) (369) 362
Net cash from (used in) financing 8,408 (8,393) (9,668)
Investing      
Additions to property and equipment (8,129) (8,343) (5,944)
Acquisition of companies, net of cash acquired, and purchases of intangible and other assets (25,944) (1,393) (3,723)
Purchases of investments (176,905) (129,758) (98,729)
Maturities of investments 28,044 22,054 15,013
Sales of investments 136,350 93,287 70,848
Securities lending payable (197) 203 (466)
Net cash used in investing (46,781) (23,950) (23,001)
Effect of foreign exchange rates on cash and cash equivalents 19 (67) (73)
Net change in cash and cash equivalents 1,153 915 (3,074)
Cash and cash equivalents, beginning of period 6,510 5,595 8,669
Cash and cash equivalents, end of period $ 7,663 $ 6,510 $ 5,595
[1] Includes $306 million of employee severance expenses primarily related to our sales and marketing restructuring plan, which decreased operating income, net income, and diluted EPS by $306 million, $243 million, and $0.03, respectively.
[2] On December 8, 2016, we acquired LinkedIn Corporation. LinkedIn has been included in our consolidated results of operations starting on the acquisition date.
[3] Includes $630 million of asset impairment charges related to our phone business, and $480 million of restructuring charges associated with our 2016 restructuring plans, which together decreased operating income, net income, and diluted EPS by $1.1 billion, $895 million, and $0.11, respectively.