Statement of Cash Flows

Difficulty: Beginner

The cash flow statement provides information about a company's cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company's statement of financial position.

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 Systems Inc., Consolidated Statement of Cash Flows

USD $ in thousands

 
12 months ended Dec 1, 2017 Dec 2, 2016 Nov 27, 2015 Nov 28, 2014 Nov 29, 2013 Nov 30, 2012
Net income 1,693,954  1,168,782  629,551  268,395  289,985  832,775 
Depreciation, amortization and accretion 325,997  331,535  339,473  313,590  321,227  299,766 
Stock-based compensation 451,451  349,912  335,859  333,701  328,987  298,502 
Deferred income taxes 51,605  24,222  (69,657) (26,089) 29,704  89,212 
Gain on the sale of property (21,415)
Write down of assets held for sale 23,151 
Unrealized (gains) losses on investments (5,494) 3,145  (9,210) (74) 5,665  (8,535)
Excess tax benefits from stock-based compensation (75,105) (68,153) (53,235) (40,619) (10,003)
Other non-cash items 4,625  2,022  1,216  1,889  5,654  4,296 
Trade receivables, net (187,173) (160,416) (79,502) 7,928  33,649  45,166 
Prepaid expenses and other current assets 28,040  (71,021) (7,701) (1,918) (55,509) 4,552 
Trade payables (45,186) (6,281) 22,870  6,211  7,132  (62,874)
Accrued expenses 154,125  64,978  (22,564) 46,415  34,879  (73,817)
Income taxes payable (34,493) 43,115  97,934  64,231  (33,585) (6,800)
Deferred revenue 475,402  524,840  320,801  326,438  201,366  87,340 
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities 390,715  395,215  331,838  449,305  187,932  (6,433)
Adjustments to reconcile net income to net cash provided by operating activities 1,218,899  1,030,946  839,951  1,019,087  861,701  666,805 
Net cash provided by operating activities 2,912,853  2,199,728  1,469,502  1,287,482  1,151,686  1,499,580 
Purchases of short-term investments (1,931,011) (2,285,222) (2,064,833) (2,014,186) (2,058,058) (1,776,485)
Maturities of short-term investments 759,737  769,228  371,790  272,076  360,485  439,878 
Proceeds from sales of short-term investments 1,393,929  860,849  1,176,476  1,443,577  1,449,961  1,126,886 
Acquisitions, net of cash acquired (459,626) (48,427) (826,004) (29,802) (704,589) (353,195)
Purchases of property and equipment (178,122) (203,805) (184,936) (148,332) (188,358) (271,076)
Proceeds from sale of property 57,779  24,260 
Purchases of long-term investments, intangibles and other assets (29,918) (58,433) (22,779) (17,572) (67,737) (29,701)
Proceeds from sale of long-term investments 2,134  5,777  4,149  3,532  6,233  29,031 
Net cash used for investing activities (442,877) (960,033) (1,488,358) (490,707) (1,177,803) (834,662)
Purchases of treasury stock (1,100,000) (1,075,000) (625,000) (600,000) (1,100,000) (405,000)
Proceeds from issuance of treasury stock 158,351  145,697  164,270  227,841  598,194  235,251 
Taxes paid related to net share settlement of equity awards (240,126) (236,400) (186,373) (173,675) (97,418) (65,977)
Excess tax benefits from stock-based compensation 75,105  68,153  53,235  40,619  10,003 
Proceeds from debt issuance 989,280  25,703  3,152 
Repayment of debt and capital lease obligations (1,960) (108) (602,189) (14,684) (25,879) (9,855)
Debt issuance costs (8,828) (357) (2,297)
Net cash used for financing activities (1,183,735) (1,090,706) (200,687) (507,283) (559,138) (234,723)
Effect of foreign currency exchange rates on cash and cash equivalents 8,516  (14,234) (21,297) (6,648) (5,241) 5,357 
Net increase (decrease) in cash and cash equivalents 1,294,757  134,755  (240,840) 282,844  (590,496) 435,552 
Cash and cash equivalents at beginning of year 1,011,315  876,560  1,117,400  834,556  1,425,052  989,500 
Cash and cash equivalents at end of year 2,306,072  1,011,315  876,560  1,117,400  834,556  1,425,052 
Source: Adobe Systems Inc., Annual Reports
Item Description The company
Net cash provided by operating activities The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Adobe Systems Inc.'s net cash provided by operating activities increased from 2015 to 2016 and from 2016 to 2017.

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