Stock Analysis on Net

Adobe Inc. (NASDAQ:ADBE)

Cash Flow Statement

The cash flow statement provides information about a company 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 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

US$ in millions

Microsoft Excel
12 months ended: Dec 1, 2023 Dec 2, 2022 Dec 3, 2021 Nov 27, 2020 Nov 29, 2019 Nov 30, 2018
Net income 5,428 4,756 4,822 5,260 2,951 2,591
Depreciation, amortization and accretion 872 856 788 757 737 346
Stock-based compensation 1,718 1,440 1,069 909 788 610
Reduction of operating lease right-of-use assets 72 83 73 87
Deferred income taxes (426) 328 183 (1,501) 3 (469)
Unrealized (gains) losses on investments, net (10) 29 (4) (11) (48) 1
Other non-cash items 3 10 7 40 14 7
Trade receivables, net (159) (198) (430) 106 (188) (2)
Prepaid expenses and other current assets (818) (94) (475) (288) (531) (77)
Trade payables (49) 66 (20) 96 23 55
Accrued expenses and other liabilities 146 7 162 86 172 44
Income taxes payable (11) 19 2 (72) 4 479
Deferred revenue 536 536 1,053 258 497 445
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities (355) 336 292 186 (23) 943
Adjustments to reconcile net income to net cash provided by operating activities 1,874 3,082 2,408 467 1,470 1,439
Net cash provided by operating activities 7,302 7,838 7,230 5,727 4,422 4,029
Purchases of short-term investments (909) (1,533) (1,071) (700) (566)
Maturities of short-term investments 965 683 877 915 700 766
Proceeds from sales of short-term investments 223 270 191 167 86 1,709
Acquisitions, net of cash acquired (126) (2,682) (101) (6,314)
Purchases of property and equipment (360) (442) (348) (419) (394) (267)
Purchases of long-term investments, intangibles and other assets (53) (46) (42) (15) (49) (19)
Proceeds from sales of long-term investments and other assets 1 9 3 5
Net cash (used for) provided by investing activities 776 (570) (3,537) (414) (456) (4,685)
Repurchases of common stock (4,400) (6,550) (3,950) (3,050) (2,750) (2,050)
Proceeds from re-issuance of treasury stock 314 278 291 270 233 191
Taxes paid related to net share settlement of equity awards (589) (518) (719) (681) (440) (393)
Proceeds from issuance of debt 3,144 2,248
Repayment of debt (500) (3,150)
Other financing activities, net (7) (35) 77 (21) 11 (2)
Net cash used for financing activities (5,182) (6,825) (4,301) (3,488) (2,946) (6)
Effect of foreign currency exchange rates on cash and cash equivalents 9 (51) (26) 3 (13) (2)
Net change in cash and cash equivalents 2,905 392 (634) 1,828 1,007 (663)
Cash and cash equivalents at beginning of year 4,236 3,844 4,478 2,650 1,643 2,306
Cash and cash equivalents at end of year 7,141 4,236 3,844 4,478 2,650 1,643

Based on: 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29), 10-K (reporting date: 2018-11-30).

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. net cash provided by operating activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
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. net cash (used for) provided by investing activities increased from 2021 to 2022 and from 2022 to 2023.
Net cash 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. net cash used for financing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.