Apple 2012 Annual Report Download - page 47

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CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Years ended
September 29,
2012
September 24,
2011
September 25,
2010
Cash and cash equivalents, beginning of the year ................ $ 9,815 $ 11,261 $ 5,263
Operating activities:
Net income ............................................ 41,733 25,922 14,013
Adjustments to reconcile net income to cash generated by
operating activities:
Depreciation and amortization ........................... 3,277 1,814 1,027
Share-based compensation expense ....................... 1,740 1,168 879
Deferred income tax expense ............................ 4,405 2,868 1,440
Changes in operating assets and liabilities:
Accounts receivable, net ................................ (5,551) 143 (2,142)
Inventories .......................................... (15) 275 (596)
Vendor non-trade receivables ............................ (1,414) (1,934) (2,718)
Other current and non-current assets ...................... (3,162) (1,391) (1,610)
Accounts payable ..................................... 4,467 2,515 6,307
Deferred revenue ..................................... 2,824 1,654 1,217
Other current and non-current liabilities ................... 2,552 4,495 778
Cash generated by operating activities ................. 50,856 37,529 18,595
Investing activities:
Purchases of marketable securities .......................... (151,232) (102,317) (57,793)
Proceeds from maturities of marketable securities .............. 13,035 20,437 24,930
Proceeds from sales of marketable securities .................. 99,770 49,416 21,788
Payments made in connection with business acquisitions, net of
cash acquired ........................................ (350) (244) (638)
Payments for acquisition of property, plant and equipment ....... (8,295) (4,260) (2,005)
Payments for acquisition of intangible assets .................. (1,107) (3,192) (116)
Other ................................................. (48) (259) (20)
Cash used in investing activities ...................... (48,227) (40,419) (13,854)
Financing activities:
Proceeds from issuance of common stock . . . . . . . . . . . . . . . . . . . . 665 831 912
Excess tax benefits from equity awards ...................... 1,351 1,133 751
Dividends and dividend equivalent rights paid ................ (2,488) 0 0
Taxes paid related to net share settlement of equity awards ...... (1,226) (520) (406)
Cash (used in)/generated by financing activities ......... (1,698) 1,444 1,257
Increase/(decrease) in cash and cash equivalents . . . . . . . . . . . . . . . . . 931 (1,446) 5,998
Cash and cash equivalents, end of the year ..................... $ 10,746 $ 9,815 $ 11,261
Supplemental cash flow disclosure:
Cash paid for income taxes, net ............................ $ 7,682 $ 3,338 $ 2,697
See accompanying Notes to Consolidated Financial Statements.
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