Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 26, 2015
Dec. 27, 2014
Dec. 28, 2013
Statement of Cash Flows [Abstract]      
Cash and cash equivalents, beginning of period $ 2,561 $ 5,674 $ 8,478
Cash flows provided by (used for) operating activities:      
Net income 11,420 11,704 9,620
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 7,821 7,380 6,790
Share-based compensation 1,305 1,148 1,118
Restructuring and asset impairment charges 354 295 240
Excess tax benefit from share-based payment arrangements (159) (122) (49)
Amortization of intangibles 890 1,169 1,242
(Gains) losses on equity investments, net (263) (354) (425)
Deferred taxes (1,270) (703) (900)
Changes in assets and liabilities:      
Accounts receivable (355) (861) 271
Inventories (764) (98) 563
Accounts payable (312) (249) 267
Accrued compensation and benefits (711) 4 155
Income taxes payable and receivable 386 (286) 1,019
Other assets and liabilities 675 1,391 865
Total adjustments 7,597 8,714 11,156
Net cash provided by operating activities 19,017 20,418 20,776
Cash flows provided by (used for) investing activities:      
Additions to property, plant and equipment (7,326) (10,105) (10,711)
Acquisitions, net of cash acquired (913) (934) (925)
Purchases of available-for-sale investments (8,259) (7,007) (12,493)
Sales of available-for-sale investments 2,090 1,227 934
Maturities of available-for-sale investments 6,168 8,944 8,336
Purchases of trading assets (11,485) (14,397) (16,718)
Maturities and sales of trading assets 13,372 13,165 13,677
Investments in loans receivable and reverse repurchase agreements (2,550) (150) (200)
Collection of loans receivable and reverse repurchase agreements 2,116 117 50
Investments in non-marketable equity investments (2,011) (1,377) (440)
Purchases of licensed technology and patents (120) (92) (36)
Other investing 735 704 453
Net cash used for investing activities (8,183) (9,905) (18,073)
Cash flows provided by (used for) financing activities:      
Increase (decrease) in short-term debt, net (474) 235 (31)
Proceeds from government grants 105 104 129
Excess tax benefit from share-based payment arrangements 159 122 49
Issuance of long-term debt, net of issuance costs 9,476 0 0
Proceeds from sales of common stock through employee equity incentive plans 866 1,660 1,588
Repurchase of common stock (3,001) (10,792) (2,147)
Restricted stock unit withholdings (442) (332) (293)
Payment of dividends to stockholders (4,556) (4,409) (4,479)
Collateral associated with repurchase of common stock 325 (325) 0
Increase (decrease) in liability due to collateral associated with repurchase of common stock (325) 325 0
Other financing (221) (199) (314)
Net cash provided by (used for) financing activities 1,912 (13,611) (5,498)
Effect of exchange rate fluctuations on cash and cash equivalents 1 (15) (9)
Net increase (decrease) in cash and cash equivalents 12,747 (3,113) (2,804)
Cash and cash equivalents, end of period 15,308 2,561 5,674
Cash paid during the year for:      
Interest, net of capitalized interest 186 167 204
Income taxes, net of refunds $ 3,439 $ 4,639 $ 2,874