UNAUDITED CONSOLIDATED CONDENSED BALANCE SHEETS

(In millions)	January 27,				October 28,
	2019				2018
ASSETS
Current assets:
Cash and cash equivalents	$	3,192			$	3,440
Short-term investments	520				590
Accounts receivable, net	2,444				2,323
Inventories	3,703				3,721
Other current assets	426				530
Total current assets	10,285				10,604
Long-term investments	1,588				1,568
Property, plant and equipment, net	1,456				1,407
Goodwill	3,368				3,368
Purchased technology and other intangible assets, net	199				213
Deferred income taxes and other assets	2,026				473
Total assets	$	18,922			$	17,633
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses	$	2,420			$	2,721
Contract liabilities	1,356				1,201
Total current liabilities	3,776				3,922
Income taxes payable	1,303				1,254
Long-term debt	5,310				5,309
Other liabilities	324				303
Total liabilities	10,713				10,788
Total stockholders’ equity	8,209				6,845
Total liabilities and stockholders’ equity	$	18,922			$	17,633

APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

(In millions)	Three Months Ended
	January 27,				January 28,
	2019				2018
Cash flows from operating activities:
Net income	$	771			$	165
Adjustments required to reconcile net income to cash provided by operating activities:
Depreciation and amortization	88				119
Share-based compensation	65				65
Deferred income taxes	41				32
Other	1				—
Net change in operating assets and liabilities	(132		)		1,085
Cash provided by operating activities	834				1,466
Cash flows from investing activities:
Capital expenditures	(133		)		(203		)
Cash paid for acquisitions, net of cash acquired	—				(5		)
Proceeds from sales and maturities of investments	464				1,944
Purchases of investments	(397		)		(384		)
Cash provided by (used in) investing activities	(66		)		1,352
Cash flows from financing activities:
Common stock repurchases	(750		)		(782		)
Tax withholding payments for vested equity awards	(74		)		(141		)
Payments of dividends to stockholders	(192		)		(106		)
Cash used in financing activities	(1,016		)		(1,029		)
Increase (decrease) in cash and cash equivalents	(248		)		1,789
Cash and cash equivalents — beginning of period	3,440				5,010
Cash and cash equivalents — end of period	$	3,192			$	6,799
Supplemental cash flow information:
Cash payments for income taxes	$	34			$	78
Cash refunds from income taxes	$	8			$	40
Cash payments for interest	$	34			$	34

APPLIED MATERIALS, INC.