| APPLIED MATERIALS, INC. | |||||||||||||||
| UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS | |||||||||||||||
| (In millions)
| Three Months Ended | Nine Months Ended | |||||||||||||
| July 28,
2024 | July 30,
2023 | July 28,
2024 | July 30,
2023 | ||||||||||||
| Cash flows from operating activities: | |||||||||||||||
| Net income | $ | 1,705 | $ | 1,560 | $ | 5,446 | $ | 4,852 | |||||||
| Adjustments required to reconcile net income to cash provided by operating activities: | |||||||||||||||
| Depreciation and amortization | 95 | 136 | 282 | 385 | |||||||||||
| Share-based compensation | 132 | 114 | 436 | 375 | |||||||||||
| Deferred income taxes | (179 | ) | (38 | ) | (385 | ) | (174 | ) | |||||||
| Other | 48 | 15 | (199 | ) | 189 | ||||||||||
| Net change in operating assets and liabilities | 584 | 796 | 522 | 1,518 | |||||||||||
| Cash provided by operating activities | 2,385 | 2,583 | 6,102 | 7,145 | |||||||||||
| Cash flows from investing activities: | |||||||||||||||
| Capital expenditures | (297 | ) | (255 | ) | (783 | ) | (797 | ) | |||||||
| Cash paid for acquisitions, net of cash acquired | — | (7 | ) | — | (25 | ) | |||||||||
| Proceeds from sales and maturities of investments | 382 | 302 | 1,495 | 971 | |||||||||||
| Purchases of investments | (745 | ) | (465 | ) | (1,968 | ) | (1,195 | ) | |||||||
| Cash used in investing activities | (660 | ) | (425 | ) | (1,256 | ) | (1,046 | ) | |||||||
| Cash flows from financing activities: | |||||||||||||||
| Debt borrowings, net of issuance costs | 694 | — | 694 | — | |||||||||||
| Proceeds from issuance of commercial paper | 100 | 297 | 300 | 892 | |||||||||||
| Repayments of commercial paper | (100 | ) | (300 | ) | (300 | ) | (700 | ) | |||||||
| Proceeds from common stock issuances | — | — | 119 | 111 | |||||||||||
| Common stock repurchases | (861 | ) | (439 | ) | (2,381 | ) | (1,489 | ) | |||||||
| Tax withholding payments for vested equity awards | (25 | ) | (11 | ) | (258 | ) | (165 | ) | |||||||
| Payments of dividends to stockholders | (331 | ) | (268 | ) | (863 | ) | (707 | ) | |||||||
| Repayments of principal on finance leases | 1 | 1 | (12 | ) | (8 | ) | |||||||||
| Cash used in financing activities | (522 | ) | (720 | ) | (2,701 | ) | (2,066 | ) | |||||||
| Increase (decrease) in cash, cash equivalents and restricted cash equivalents | 1,203 | 1,438 | 2,145 | 4,033 | |||||||||||
| Cash, cash equivalents and restricted cash equivalents—beginning of period | 7,175 | 4,695 | 6,233 | 2,100 | |||||||||||
| Cash, cash equivalents and restricted cash equivalents — end of period | $ | 8,378 | $ | 6,133 | $ | 8,378 | $ | 6,133 | |||||||
| Reconciliation of cash, cash equivalents, and restricted cash equivalents | |||||||||||||||
| Cash and cash equivalents | $ | 8,288 | $ | 6,025 | $ | 8,288 | $ | 6,025 | |||||||
| Restricted cash equivalents included in deferred income taxes and other assets | 90 | 108 | 90 | 108 | |||||||||||
| Total cash, cash equivalents, and restricted cash equivalents | $ | 8,378 | $ | 6,133 | $ | 8,378 | $ | 6,133 | |||||||
| Supplemental cash flow information: | |||||||||||||||
| Cash payments for income taxes | $ | 213 | $ | 197 | $ | 819 | $ | 418 | |||||||
| Cash refunds from income taxes | $ | 2 | $ | — | $ | 7 | $ | 51 | |||||||
| Cash payments for interest | $ | 35 | $ | 35 | $ | 137 | $ | 137 | |||||||
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Applied Materials Announces Third Quarter 2024 Results
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