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Consolidated Statements of Cash Flows (Millions of dollars) | |||||||||
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For Three Months Ended |
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Sept. 30, 2013 |
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Sept. 30, 2012 |
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Jun. 30, 2013 |
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Cash flows from operating activities: |
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Net income |
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$ 629 |
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$ 784 |
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$ 660 |
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Adjustments to net income: |
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Depreciation |
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217 |
|
241 |
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221 |
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Amortization of acquisition-related intangibles |
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83 |
|
86 |
|
85 |
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Stock-based compensation |
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71 |
|
66 |
|
75 |
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Gains on sales of assets |
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(3) |
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-- |
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-- |
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Deferred income taxes |
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30 |
|
119 |
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(54) |
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Gain on transfer of Japan substitutional pension |
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-- |
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(144) |
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-- |
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Increase (decrease) from changes in: |
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Accounts receivable |
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(30) |
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18 |
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(160) |
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Inventories |
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(6) |
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37 |
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(20) |
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Prepaid expenses and other current assets |
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229 |
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25 |
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(304) |
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Accounts payable and accrued expenses |
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(17) |
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(9) |
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(36) |
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Accrued compensation |
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96 |
|
95 |
|
95 |
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Income taxes payable |
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(173) |
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(141) |
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115 |
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Changes in funded status of retirement plans |
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30 |
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6 |
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23 |
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Other |
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(5) |
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21 |
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(26) |
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Cash flows from operating activities |
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1,151 |
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1,204 |
|
674 |
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Cash flows from investing activities: |
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Capital expenditures |
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(124) |
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(149) |
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(97) |
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Proceeds from asset sales |
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3 |
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-- |
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-- |
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Purchases of short-term investments |
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(775) |
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(1,484) |
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(1,866) |
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Proceeds from short-term investments |
|
681 |
|
173 |
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2,268 |
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Purchases of long-term investments |
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-- |
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-- |
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(1) |
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Proceeds from long-term investments |
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3 |
|
20 |
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6 |
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Cash flows from investing activities |
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(212) |
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(1,440) |
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310 |
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Cash flows from financing activities: |
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Proceeds from issuance of long-term debt |
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-- |
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1,492 |
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986 |
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Repayment of debt and commercial paper borrowings |
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-- |
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(500) |
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(1,500) |
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Dividends paid |
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(308) |
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(194) |
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(309) |
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Stock repurchases |
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(734) |
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(600) |
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(721) |
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Proceeds from common stock transactions |
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349 |
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63 |
|
343 |
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Excess tax benefit from share-based payments |
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9 |
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3 |
|
11 |
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Other |
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-- |
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(10) |
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(7) |
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Cash flows from financing activities |
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(684) |
|
254 |
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(1,197) |
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|
|
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|
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Net change in cash and cash equivalents |
|
255 |
|
18 |
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(213) | |||
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Cash and cash equivalents, beginning of period |
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1,180 |
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1,192 |
|
1,393 | |||
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Cash and cash equivalents, end of period |
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$ 1,435 |
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$ 1,210 |
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$ 1,180 | |||
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Certain amounts in prior periods' financial statements have been reclassified to conform to the current presentation. |
