| APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS | |||||||
| Three Months Ended | |||||||
| (In millions) | January 28,
2024 | January 29,
2023 | |||||
| Cash flows from operating activities: | |||||||
| Net income | $ | 2,019 | $ | 1,717 | |||
| Adjustments required to reconcile net income to cash provided by operating activities: | |||||||
| Depreciation and amortization | 91 | 120 | |||||
| Share-based compensation | 170 | 148 | |||||
| Deferred income taxes | (72 | ) | (21 | ) | |||
| Other | (235 | ) | 7 | ||||
| Net change in operating assets and liabilities | 352 | 299 | |||||
| Cash provided by operating activities | 2,325 | 2,270 | |||||
| Cash flows from investing activities: | |||||||
| Capital expenditures | (229 | ) | (287 | ) | |||
| Cash paid for acquisitions, net of cash acquired | — | (20 | ) | ||||
| Proceeds from sales and maturities of investments | 531 | 414 | |||||
| Purchases of investments | (749 | ) | (406 | ) | |||
| Cash used in investing activities | (447 | ) | (299 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from commercial paper | 100 | 298 | |||||
| Repayments of commercial paper | (100 | ) | (100 | ) | |||
| Common stock repurchases | (700 | ) | (250 | ) | |||
| Tax withholding payments for vested equity awards | (192 | ) | (136 | ) | |||
| Payments of dividends to stockholders | (266 | ) | (220 | ) | |||
| Repayments of principal on finance leases | 1 | (10 | ) | ||||
| Cash used in financing activities | (1,157 | ) | (418 | ) | |||
| Increase (decrease) in cash, cash equivalents and restricted cash equivalents | 721 | 1,553 | |||||
| Cash, cash equivalents and restricted cash equivalents—beginning of period | 6,233 | 2,100 | |||||
| Cash, cash equivalents and restricted cash equivalents — end of period | $ | 6,954 | $ | 3,653 | |||
| Reconciliation of cash, cash equivalents, and restricted cash equivalents | |||||||
| Cash and cash equivalents | $ | 6,854 | $ | 3,547 | |||
| Restricted cash equivalents included in deferred income taxes and other assets | 100 | 106 | |||||
| Total cash, cash equivalents, and restricted cash equivalents | $ | 6,954 | $ | 3,653 | |||
| Supplemental cash flow information: | |||||||
| Cash payments for income taxes | $ | 139 | $ | 69 | |||
| Cash refunds from income taxes | $ | 2 | $ | 4 | |||
| Cash payments for interest | $ | 34 | $ | 34 | |||
