Stock Analysis on Net
Stock Analysis on Net

Adobe Inc. (NASDAQ:ADBE)

Cash Flow Statement
Quarterly Data

Beginner level

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company’s balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Adobe Inc., consolidated cash flow statement (quarterly data)

US$ in millions

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3 months ended: May 29, 2020 Feb 28, 2020 Nov 29, 2019 Aug 30, 2019 May 31, 2019 Mar 1, 2019 Nov 30, 2018 Aug 31, 2018 Jun 1, 2018 Mar 2, 2018 Dec 1, 2017 Sep 1, 2017 Jun 2, 2017 Mar 3, 2017 Dec 2, 2016 Sep 2, 2016 Jun 3, 2016 Mar 4, 2016 Nov 27, 2015 Aug 28, 2015 May 29, 2015 Feb 27, 2015 Nov 28, 2014 Aug 29, 2014 May 30, 2014 Feb 28, 2014
Net income 1,100  955  852  793  633  674  678  666  663  583  502  420  374  398  400  271  244  254  223  174  147  85  88  45  89  47 
Depreciation, amortization and accretion 188  188  296  151  146  145  107  87  76  77  81  82  82  81  82  84  84  81  86  88  86  80  78  80  78  78 
Stock-based compensation 227  217  203  196  204  185  170  165  144  130  120  117  116  98  88  85  86  92  81  86  85  84  85  83  83  83 
Reduction of operating lease right-of-use assets 21  21  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Deferred income taxes (172) (93) (19) (51) (18) 31  (431) (4) (8) 60  (20) (7) (6) 57  (22) (22) (30) (18) (13) (3)
Gain on the sale of property —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (21) —  —  —  —  —  —  — 
Unrealized (gains) losses on investments, net (1) (4) (3) (42) (2) (1) (1) (2) (1) (2) (1) (1) (1) (1) —  (10) —  (1) — 
Excess tax benefits from stock-based compensation —  —  —  —  —  —  —  —  —  —  —  —  —  —  (6) (4) (50) (15) (10) (14) (11) (34) (21) (27) (5) — 
Other non-cash items 14  11  —  (1) (1) —  (1)
Trade receivables, net 10  145  (174) (100) 21  65  (201) 58  (14) 154  (214) (106) (52) 184  (103) (66) (66) 74  (79) (91) 29  62  (64) (21) 90 
Prepaid expenses and other assets (106) (197) (241) (147) (35) (107) 13  17  (42) (65) (4) 17  26  (11) 15  17  (18) (85) 17  (3) (24) (15) 37  20  (44)
Trade payables 25  55  23  18  24  (41) 30  22  (14) 18  23  12  (114) 33  (22) 23  13  (15) 15  (1) (10)
Accrued expenses and other liabilities 40  (98) 119  (64) 136  (20) 40  (49) 118  (65) 73  69  105  (92) 71  67  (81) 21  89  (140) 66  (27) 69  (61)
Income taxes payable (8) 10  43  (51) 46  (26) (51) 511  (41) (33) 102  (62) (53) 73  17  (44) 36  51  55  27  20  10 
Deferred revenue (154) 114  245  122  (36) 166  271  34  62  78  290  130  15  41  217  116  68  123  179  78  45  19  159  68  48  52 
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities (193) 29  14  (222) 116  69  198  55  60  630  127  89  81  93  151  90  127  27  117  46  195  (26) 187  100  115  47 
Adjustments to reconcile net income to net cash provided by operating activities 84  370  525  130  477  339  430  289  313  407  332  285  270  332  296  247  245  243  232  186  324  98  312  224  279  205 
Net cash provided by operating activities 1,184  1,325  1,376  923  1,109  1,013  1,108  955  976  990  833  704  645  730  696  518  489  498  455  360  471  183  400  269  368  252 
Purchases of short-term investments (50) (213) (327) (234) (139) —  (24) (129) (81) (332) (512) (406) (538) (476) (472) (687) (592) (534) (641) (745) (360) (319) (602) (517) (518) (378)
Maturities of short-term investments 182  235  222  157  224  96  159  255  198  154  159  191  191  219  211  191  188  179  118  80  85  89  (641) 785  83  46 
Proceeds from sales of short-term investments 44  26  20  37  16  14  1,471  38  14  186  415  236  317  426  162  248  256  195  245  270  279  383  1,234  (378) 318  270 
Acquisitions, net of cash acquired —  —  (1) —  —  (100) (4,681) (1,618) (15) —  —  —  —  (460) —  —  (48) —  —  (20) (6) (800) (30) —  —  — 
Purchases of property and equipment (96) (94) (94) (90) (145) (65) (63) (64) (45) (95) (38) (54) (55) (31) (49) (55) (54) (46) (65) (49) (36) (36) (37) (55) (27) (29)
Proceeds from sale of property —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  58  —  —  —  —  —  —  — 
Purchases of long-term investments, intangibles and other assets (4) (2) 11  (36) 54  (78) (3) (2) (4) (9) (4) (5) (2) (18) (2) (4) (1) (52) (2) (3) (2) (16) (5) (6) (3) (4)
Proceeds from sale of long-term investments and other assets —  —  —  —  —  —  —  —  —  —  —  —  — 
Net cash (used for) provided by investing activities 80  (48) (168) (165) 10  (132) (3,139) (1,520) 68  (94) 20  (37) (88) (339) (143) (307) (252) (259) (286) (465) (39) (698) (78) (170) (148) (94)
Purchases of treasury stock (850) (850) (750) (750) (750) (500) (300) (750) (700) (300) (300) (300) (300) (200) (300) (400) (225) (150) (125) (100) (200) (200) (125) (125) (150) (200)
Proceeds from re-issuance of treasury stock 88  158  72  125  —  64  105  52  88  46  10  84  15  56  14  105  (81) 190 
Taxes paid related to net share settlement of equity awards (54) (467) (28) (35) (24) (353) (24) (46) (17) (305) (20) (23) (15) (183) (12) (16) (13) (195) (9) (15) (12) (150) (10) (13) 93  (244)
Excess tax benefits from stock-based compensation —  —  —  —  —  —  —  —  —  —  —  —  —  —  50  15  10  14  11  34  21  27  — 
Proceeds from issuance of debt —  3,144  —  —  —  —  2,248  —  —  —  —  —  —  —  —  —  —  —  —  (1) —  982  —  —  —  — 
Repayment of debt —  (3,150) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Other financing activities, net 12  —  (3) (1) —  (1) —  (1) —  (1) —  —  —  —  —  —  —  —  (602) (3) (3) (4) (4)
Net cash provided by (used for) financing activities (901) (1,233) (766) (624) (772) (784) 1,925  (672) (717) (541) (320) (218) (314) (331) (300) (325) (181) (284) (115) (19) (186) 119  (103) (10) (136) (258)
Effect of foreign currency exchange rates on cash and cash equivalents (7) (6) (1) (7) (3) (2) (4) (6) (3) (2) (8) (5) (1) —  (6) (4) (3) (8) (4) (2) (1) — 
Net increase (decrease) in cash and cash equivalents 356  38  441  126  344  96  (104) (1,241) 321  361  532  458  248  58  244  (119) 56  (46) 47  (127) 243  (405) 214  86  83  (101)

Based on: 10-Q (filing date: 2020-06-24), 10-Q (filing date: 2020-03-25), 10-K (filing date: 2020-01-21), 10-Q (filing date: 2019-09-26), 10-Q (filing date: 2019-06-26), 10-Q (filing date: 2019-03-27), 10-K (filing date: 2019-01-25), 10-Q (filing date: 2018-09-26), 10-Q (filing date: 2018-06-27), 10-Q (filing date: 2018-03-28), 10-K (filing date: 2018-01-22), 10-Q (filing date: 2017-09-27), 10-Q (filing date: 2017-06-28), 10-Q (filing date: 2017-03-29), 10-K (filing date: 2017-01-20), 10-Q (filing date: 2016-09-27), 10-Q (filing date: 2016-06-29), 10-Q (filing date: 2016-03-30), 10-K (filing date: 2016-01-19), 10-Q (filing date: 2015-09-23), 10-Q (filing date: 2015-06-24), 10-Q (filing date: 2015-03-25), 10-K (filing date: 2015-01-20), 10-Q (filing date: 2014-09-25), 10-Q (filing date: 2014-06-25), 10-Q (filing date: 2014-03-28).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Adobe Inc.’s net cash provided by operating activities decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Net cash (used for) provided by investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Adobe Inc.’s net cash (used for) provided by investing activities increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Net cash provided by (used for) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Adobe Inc.’s net cash provided by (used for) financing activities decreased from Q4 2019 to Q1 2020 but then increased from Q1 2020 to Q2 2020 not reaching Q4 2019 level.