Stock Analysis on Net

Intuit Inc. (NASDAQ:INTU)

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.

Intuit Inc., consolidated cash flow statement

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Jul 31, 2021 Jul 31, 2020 Jul 31, 2019 Jul 31, 2018 Jul 31, 2017 Jul 31, 2016
Net income 2,062  1,826  1,557  1,211  971  979 
Depreciation 166  189  199  228  214  195 
Amortization of acquired intangible assets 197  29  26  25  22  43 
Non-cash operating lease cost 62  60  —  —  —  — 
Share-based compensation expense 753  435  401  382  326  281 
Pre-tax gain on sale of discontinued operations —  —  —  —  —  (354)
Loss on sale of long-lived assets —  —  —  79  —  — 
Deferred income taxes (42) (179) (7) 51  70 
Tax benefit from share-based compensation plans —  —  —  —  —  59 
Excess tax benefit from share-based compensation plans —  —  —  —  —  (59)
Other (39) 15  13  17 
Adjustments 1,097  540  634  771  583  252 
Originations of loans held for sale (41) (566) —  —  —  — 
Sale and principal payments of loans held for sale 143  482  —  —  —  — 
Accounts receivable (104) (59) 11  (20)
Income taxes receivable (51) 53  (1) (44) 64 
Prepaid expenses and other assets 30  (31) (37) (31) (9) (10)
Accounts payable 206  33  90  12  —  (23)
Accrued compensation and related liabilities (70) 100  16  75  10  (11)
Deferred revenue 22  38  39  66  83  192 
Operating lease liabilities (66) (61) —  —  —  — 
Other liabilities 22  59  —  (22)
Changes in operating assets and liabilities (11) 132  133  130  45  170 
Adjustments to reconcile net income to net cash provided by operating activities 1,188  588  767  901  628  422 
Net cash provided by operating activities 3,250  2,414  2,324  2,112  1,599  1,401 
Purchases of corporate and customer fund investments (1,489) (701) (752) (407) (352) (934)
Sales of corporate and customer fund investments 229  130  84  128  359  1,165 
Maturities of corporate and customer fund investments 550  596  303  286  183  187 
Net change in cash and cash equivalents held to satisfy customer fund obligations —  —  —  (68) 58 
Net change in customer fund deposits —  —  69  (5) 68  (33)
Purchases of property and equipment (53) (59) (76) (38) (102) (416)
Capitalization of internal use software (72) (78) (79) (86) (128) (106)
Acquisitions of businesses, net of cash acquired (3,064) —  (64) (363) —  — 
Proceeds from divestiture of businesses —  —  —  —  —  463 
Originations of term loans to small businesses (232) (243) (316) (137) —  — 
Principal repayments of term loans from small businesses 136  287  267  82  —  — 
Other 30  (29) (2) (45) (13)
Net cash (used in) provided by investing activities (3,965) (97) (566) (532) (85) 371 
Proceeds from issuance of long-term debt, net of discount and issuance costs —  1,983  —  —  —  500 
Proceeds from borrowings under unsecured revolving credit facility —  1,000  —  800  150  995 
Repayments on borrowings under unsecured revolving credit facility (1,000) —  —  (800) (150) (995)
Proceeds from borrowings under secured revolving credit facility —  —  48  —  —  — 
Repayment of debt (338) (50) (50) (50) (512) — 
Proceeds from issuance of stock under employee stock plans 196  211  284  295  226  197 
Payments for employee taxes withheld upon vesting of restricted stock units (383) (244) (251) (199) (153) (108)
Cash paid for purchases of treasury stock (1,005) (323) (556) (272) (839) (2,264)
Dividends and dividend rights paid (646) (561) (501) (407) (353) (318)
Net change in customer fund deposits 19  —  —  —  — 
Excess tax benefit from share-based compensation plans —  —  —  —  —  59 
Other (2) (1) (8) (1) (1) (6)
Net cash provided by (used in) financing activities (3,176) 2,034  (1,034) (634) (1,632) (1,940)
Effect of exchange rates on cash, cash equivalents, restricted cash, and restricted cash equivalents 13  (6) (3) (11) (2)
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents (3,878) 4,345  721  935  (109) (170)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 6,697  2,352  1,631  529  638  808 
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 2,819  6,697  2,352  1,464  529  638 

Based on: 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31), 10-K (reporting date: 2017-07-31), 10-K (reporting date: 2016-07-31).

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. Intuit Inc. net cash provided by operating activities increased from 2019 to 2020 and from 2020 to 2021.
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. Intuit Inc. net cash (used in) provided by investing activities increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.
Net cash provided by (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. Intuit Inc. net cash provided by (used in) financing activities increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.