Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 25, 2010
Dec. 26, 2009
Consolidated Statements of Cash Flows [Abstract]      
Cash and cash equivalents, beginning of year $ 5,498 $ 3,987 $ 3,350
Cash flows provided by (used for) operating activities:      
Net income 12,942 11,464 4,369
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 5,141 4,398 4,744
Share-based compensation 1,053 917 889
Restructuring, asset impairment, and net loss on retirement of assets 96 67 368
Excess tax benefit from share-based payment arrangements (37) (65) (9)
Amortization of intangibles 923 240 308
Gains (losses) on equity investments, net (112) (348) 170
(Gains) losses on divestitures (164) 0 0
Deferred taxes 790 (46) 271
Changes in assets and liabilities:      
Trading assets 0 0 299
Accounts receivable (678) (584) (535)
Inventories (243) (806) 796
Accounts payable 596 407 (506)
Accrued compensation and benefits (95) 161 247
Income taxes payable and receivable 660 53 110
Other assets and liabilities 91 834 (351)
Total adjustments 8,021 5,228 6,801
Net cash provided by operating activities 20,963 16,692 11,170
Cash flows provided by (used for) investing activities:      
Additions to property, plant and equipment (10,764) (5,207) (4,515)
Acquisitions, net of cash acquired (8,721) (218) (853)
Purchases of available-for-sale investments (11,230) (17,675) (8,655)
Sales of available-for-sale investments 9,076 506 220
Maturities of available-for-sale investments 11,029 12,627 7,536
Purchases of trading assets (11,314) (8,944) (4,186)
Maturities and sales of trading assets 11,771 8,846 2,543
Origination of loans receivable (206) (498) (343)
Collection of loans receivable 134 0 0
Investments in non-marketable equity investments (693) (393) (250)
Return of equity method investments 263 199 449
Proceeds from divestitures 50 0 0
Other investing 304 218 89
Net cash used for investing activities (10,301) (10,539) (7,965)
Cash flows provided by (used for) financing activities:      
Increase (decrease) in short-term debt, net 209 23 (87)
Proceeds from government grants 124 79 0
Excess tax benefit from share-based payment arrangements 37 65 9
Issuance of long-term debt 4,962 0 1,980
Repayment of debt 0 (157) 0
Proceeds from sales of shares through employee equity incentive plans 2,045 587 400
Repurchase of common stock (14,340) (1,736) (1,762)
Payment of dividends to stockholders (4,127) (3,503) (3,108)
Other financing (10) 0 0
Net cash used for financing activities (11,100) (4,642) (2,568)
Effect of exchange rate fluctuations on cash and cash equivalents 5 0 0
Net increase (decrease) in cash and cash equivalents (433) 1,511 637
Cash and cash equivalents, end of year 5,065 5,498 3,987
Cash paid during the year for:      
Interest, net of amounts capitalized 0 0 4
Income taxes, net of refunds $ 3,338 $ 4,627 $ 943