Stock Analysis on Net
Stock Analysis on Net
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Cisco Systems Inc. (NASDAQ:CSCO)

Cash Flow Statement

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.

Cisco Systems Inc., consolidated cash flow statement

US$ in millions

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12 months ended: Jul 25, 2020 Jul 27, 2019 Jul 28, 2018 Jul 29, 2017 Jul 30, 2016 Jul 25, 2015
Net income 11,214  11,621  110  9,609  10,739  8,981 
Depreciation, amortization, and other 1,808  1,897  2,192  2,286  2,150  2,442 
Share-based compensation expense 1,569  1,570  1,576  1,526  1,458  1,440 
Provision (benefit) for receivables 93  40  (134) (8) (9) 134 
Deferred income taxes (38) (350) 900  (124) (194) (23)
Excess tax benefits from share-based compensation —  —  —  (153) (129) (128)
(Gains) losses on divestitures, investments and other, net (138) (24) (322) 154  (317) (258)
Accounts receivable (107) (84) (269) 756  (404) (413)
Inventories 84  131  (244) (394) 315  (116)
Financing receivables (797) (249) (219) (1,038) (150) (634)
Other assets 96  (955) 66  15  (37) (370)
Accounts payable 141  87  504  311  (65) 87 
Income taxes, net (322) 312  8,118  60  (300) 53 
Accrued compensation (78) 277  100  (110) (101) 7 
Deferred revenue 2,011  1,407  1,205  1,683  1,219  1,275 
Other liabilities (110) 151  83  (697) (605) 75 
Change in operating assets and liabilities, net of effects of acquisitions and divestitures 918  1,077  9,344  586  (128) (36)
Adjustments to reconcile net income to net cash provided by operating activities 4,212  4,210  13,556  4,267  2,831  3,571 
Net cash provided by operating activities 15,426  15,831  13,666  13,876  13,570  12,552 
Purchases of investments (9,212) (2,416) (14,285) (42,702) (46,760) (43,975)
Proceeds from sales of investments 5,631  7,388  17,706  28,827  28,778  20,237 
Proceeds from maturities of investments 7,975  12,928  15,769  12,143  14,115  15,293 
Acquisitions and divestitures (327) (2,175) (2,979) (3,324) (2,789) (326)
Purchases of investments in privately held companies (190) (148) (267) (222) (256) (222)
Return of investments in privately held companies 224  159  168  203  91  288 
Acquisition of property and equipment (770) (909) (834) (964) (1,146) (1,227)
Proceeds from sales of property and equipment 179  22  59  7  41  22 
Other (10) (12) (13) 39  (191) (178)
Net cash (used in) provided by investing activities 3,500  14,837  15,324  (5,993) (8,117) (10,088)
Issuances of common stock 655  640  623  708  1,127  2,016 
Repurchases of common stock, repurchase program (2,659) (20,717) (17,547) (3,685) (3,909) (4,324)
Shares repurchased for tax withholdings on vesting of restricted stock units (727) (862) (703) (619) (557) (502)
Short-term borrowings, original maturities of 90 days or less, net (3,470) 3,446  (2,502) 2,497  (4) (4)
Issuances of debt —  2,250  6,877  6,980  6,978  4,981 
Repayments of debt (6,720) (6,780) (12,375) (4,151) (3,863) (508)
Excess tax benefits from share-based compensation —  —  —  153  129  128 
Dividends paid (6,016) (5,979) (5,968) (5,511) (4,750) (4,086)
Other 51  113  (169) (178) 150  (14)
Net cash used in financing activities (18,886) (27,889) (31,764) (3,806) (4,699) (2,313)
Net increase (decrease) in cash, cash equivalents, and restricted cash 40  2,779  (2,774) 4,077  754  151 
Cash, cash equivalents, and restricted cash, beginning of fiscal year 11,772  8,993  11,708  7,631  6,877  6,726 
Cash, cash equivalents, and restricted cash, end of fiscal year 11,812  11,772  8,934  11,708  7,631  6,877 

Based on: 10-K (filing date: 2020-09-03), 10-K (filing date: 2019-09-05), 10-K (filing date: 2018-09-06), 10-K (filing date: 2017-09-07), 10-K (filing date: 2016-09-08), 10-K (filing date: 2015-09-08).

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. Cisco Systems Inc.’s net cash provided by operating activities increased from 2018 to 2019 but then slightly decreased from 2019 to 2020.
Net cash (used in) 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. Cisco Systems Inc.’s net cash (used in) provided by investing activities decreased from 2018 to 2019 and from 2019 to 2020.
Net cash used in 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. Cisco Systems Inc.’s net cash used in financing activities increased from 2018 to 2019 and from 2019 to 2020.