Symantec 2014 Annual Report Download - page 127

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Cash Flows
The following table summarizes, for the periods indicated, selected items in our Consolidated Statements of
Cash Flows:
Fiscal 2014 Fiscal 2013 Fiscal 2012
(Dollars in millions)
Net cash provided by (used in):
Operating activities $ 1,281 $ 1,593 $ 1,901
Investing activities (583) (319) (318)
Financing activities (1,712) 308 (1,386)
Operating activities
We expect cash from our operating activities to fluctuate in future periods as a result of a number of factors,
including the timing of our billings and collections, our operating results, the timing and amount of tax and other
liability payments.
Net cash provided by operating activities was $1.3 billion for fiscal 2014, which resulted from net income of
$898 million adjusted for non-cash items, including depreciation and amortization charges of $498 million and
stock-based compensation expense of $156 million. These amounts were partially offset by decreases in deferred
revenue of $223 million.
Net cash provided by operating activities was $1.6 billion for fiscal 2013, which resulted from net income of
$755 million adjusted for non-cash items, including depreciation and amortization charges of $698 million and
stock-based compensation expense of $164 million, and an increase in deferred revenue of $119 million. These
amounts were partially offset by an increase in trade accounts receivable, net of $107 million.
Net cash provided by operating activities was $1.9 billion for fiscal 2012, which resulted from net income of
$1.2 billion adjusted for non-cash items, which included depreciation and amortization charges of $712 million,
stock-based compensation expense of $164 million, an increase in deferred revenue of $177 million, a decrease
in trade accounts receivable, net of $89 million, and an increase in accounts payable other liabilities of $77
million. Additionally, net income was adjusted for the net gain of $526 million from the sale of the joint venture
with a subsidiary of Huawei Technologies Co., Limited, as the gross proceeds were included as a cash inflow
provided by investing activities.
Investing activities
Net cash used in investing activities was $583 million for fiscal 2014 and was primarily due to payments of
$260 million for capital expenditures, and $492 million in purchases of short-term investments, partially offset
by $186 million in net proceeds from the sale of our short-term investments.
Net cash used in investing activities was $319 million for fiscal 2013 and was primarily due to payments of
$336 million for capital expenditures, partially offset by $46 million in net proceeds from the sale of our short-
term investments.
Net cash used in investing activities was $318 million for fiscal 2012, which was used to pay for fiscal 2012
acquisitions, net of cash acquired, of $508 million, payments of $286 million for capital expenditures, and $47
million in purchases of short-term investments, partially offset by the gross proceeds from the sale of the joint
venture of $530 million.
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