Cash Flow Statement
Quarterly Data

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.

Lam Research Corp., consolidated cash flow statement (quarterly data)

US$ in thousands

3 months ended:	Jun 29, 2025	Mar 30, 2025	Dec 29, 2024	Sep 29, 2024	Jun 30, 2024	Mar 31, 2024	Dec 24, 2023	Sep 24, 2023	Jun 25, 2023	Mar 26, 2023	Dec 25, 2022	Sep 25, 2022	Jun 26, 2022	Mar 27, 2022	Dec 26, 2021	Sep 26, 2021	Jun 27, 2021	Mar 28, 2021	Dec 27, 2020	Sep 27, 2020	Jun 28, 2020	Mar 29, 2020	Dec 29, 2019	Sep 29, 2019
Net income	1,720,088)	1,330,667)	1,191,018)	1,116,444)	1,020,282)	965,826)	954,266)	887,398)	802,537)	814,008)	1,468,507)	1,425,879)	1,208,934)	1,021,778)	1,194,830)	1,179,744)	1,144,657)	1,071,121)	869,229)	823,451)	696,673)	574,781)	514,510)	465,789)
Depreciation and amortization	98,439)	97,343)	96,200)	94,295)	88,357)	89,922)	90,941)	90,479)	89,604)	91,663)	85,414)	75,751)	87,932)	84,228)	81,705)	79,874)	78,397)	79,453)	76,389)	72,912)	71,083)	67,248)	65,530)	64,664)
Deferred income taxes	(151,679)	(19,992)	(82,854)	(108,722)	(61,375)	(24,621)	(88,747)	(24,238)	(38,960)	7,195)	(6,680)	(133,616)	(173,987)	(56,878)	(13,550)	(13,023)	(146,029)	(1,136)	(2,462)	(1,850)	(92,293)	—)	77,508)	(2,992)
Equity-based compensation expense	94,286)	87,115)	81,959)	80,011)	79,092)	76,854)	69,901)	67,211)	68,495)	73,911)	73,084)	71,110)	69,588)	68,543)	62,834)	58,099)	56,321)	55,746)	52,109)	55,988)	53,153)	47,414)	45,725)	42,905)
Other, net	14,240)	1,654)	(8,592)	(457)	(3,999)	10,210)	4,182)	(150)	40,761)	1,559)	12,729)	(2,751)	33,574)	(3,121)	(66,514)	(8,690)	(27,786)	(635)	6,690)	4,339)	(9,493)	9,172)	1,248)	5,701)
Changes in operating assets and liabilities	778,814)	(188,124)	(535,789)	386,900)	(259,927)	266,645)	423,297)	(69,537)	160,288)	738,102)	(492,867)	(246,785)	(782,107)	(356,840)	181,201)	(838,480)	330,375)	(39,469)	(657,318)	(312,329)	93,925)	(157,187)	(396,593)	(112,020)
Adjustments to reconcile net income to net cash provided by operating activities	834,100)	(22,004)	(449,076)	452,027)	(157,852)	419,010)	499,574)	63,765)	320,188)	912,430)	(328,320)	(236,291)	(765,000)	(264,068)	245,676)	(722,220)	291,278)	93,959)	(524,592)	(180,940)	116,375)	(33,353)	(206,582)	(1,742)
Net cash provided by operating activities	2,554,188)	1,308,663)	741,942)	1,568,471)	862,430)	1,384,836)	1,453,840)	951,163)	1,122,725)	1,726,438)	1,140,187)	1,189,588)	443,934)	757,710)	1,440,506)	457,524)	1,435,935)	1,165,080)	344,637)	642,511)	813,048)	541,428)	307,928)	464,047)
Capital expenditures and intangible assets	(172,191)	(288,058)	(188,349)	(110,588)	(100,748)	(103,654)	(115,276)	(76,992)	(78,670)	(119,457)	(163,378)	(140,063)	(125,746)	(145,368)	(138,493)	(136,427)	(104,622)	(89,596)	(92,072)	(62,806)	(50,554)	(51,375)	(62,054)	(39,256)
Business acquisitions, net of cash acquired	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(119,955)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Purchases of available-for-sale securities	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(299,362)	(243,160)	(25,297)	(146,647)	(790,525)	(702,028)	(1,750,188)	(1,007,804)	(270,128)	(1,472,063)	(147,632)
Proceeds from maturities of available-for-sales securities	—)	—)	—)	—)	—)	11,220)	15,841)	7,275)	26,280)	32,577)	17,743)	14,695)	23,146)	33,027)	27,260)	106,836)	430,721)	662,031)	691,754)	597,252)	483,824)	211,228)	351,980)	600,347)
Proceeds from sales of available-for-sale securities	—)	—)	—)	—)	—)	3,430)	—)	—)	—)	6,837)	—)	—)	340)	345,519)	541,071)	656,504)	515,891)	362,023)	178,376)	415,862)	169,630)	270,059)	457,796)	337,763)
Other, net	42,940)	(4,857)	12,974)	37)	(865)	(3,356)	(2,523)	(4,966)	(2,790)	(4,289)	(1,657)	(2,435)	26,323)	(28,380)	(595)	(4,923)	(6,282)	(27,997)	(6,090)	(1,786)	(25,305)	9,988)	(9,988)	(540)
Net cash (used for) provided by investing activities	(129,251)	(292,915)	(175,375)	(110,551)	(101,613)	(92,360)	(101,958)	(74,683)	(55,180)	(84,332)	(267,247)	(127,803)	(75,937)	(94,564)	186,083)	596,693)	689,061)	115,936)	69,940)	(801,666)	(430,209)	169,772)	(734,329)	750,682)
Principal payments on debt, including finance lease obligations and payments for debt issuance costs	(1,485)	(504,037)	(1,032)	(934)	(949)	(1,060)	(986)	(253,109)	(2,061)	(2,209)	(17,082)	(1,854)	(2,032)	(1,821)	(1,698)	(6,338)	(822,046)	(16,245)	(4,596)	(19,173)	(2,948)	(617,637)	(17,987)	(28,965)
Proceeds from borrowings on revolving credit facility	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,250,000)	—)	—)
Repayment of borrowings on revolving credit facility	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1,250,000)	—)	—)	—)
Proceeds from issuance of long-term debt, net of issuance costs	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,974,651)	—)	—)	—)
Treasury stock purchases, including excise tax payments	(1,292,277)	(435,321)	(697,688)	(997,035)	(373,550)	(980,561)	(645,458)	(843,238)	(869,014)	(581,943)	(456,276)	(109,779)	(876,089)	(1,338,006)	(414,815)	(1,236,753)	(431,255)	(1,094,571)	(723,297)	(448,581)	(41,017)	(245,433)	(1,005,067)	(78,132)
Dividends paid	(295,207)	(295,716)	(297,634)	(260,985)	(261,462)	(262,707)	(264,414)	(230,332)	(232,335)	(233,977)	(235,980)	(205,615)	(208,056)	(210,587)	(211,216)	(185,431)	(185,385)	(186,551)	(187,927)	(167,129)	(167,739)	(163,510)	(166,721)	(158,868)
Reissuance of treasury stock related to employee stock purchase plan	79,556)	—)	60,557)	—)	66,885)	—)	53,081)	—)	64,903)	—)	44,996)	—)	61,798)	—)	46,380)	—)	56,330)	—)	41,434)	—)	46,992)	—)	38,447)	—)
Proceeds from issuance of common stock, net issuance costs	696)	1,993)	(194)	(43)	2,796)	8,235)	1,704)	2,818)	3,438)	—)	877)	6,796)	997)	492)	3,451)	742)	851)	9,626)	8,108)	5,538)	1,869)	1,714)	632)	3,869)
Other, net	(820)	526)	761)	(324)	(7,871)	300)	(3,821)	(2,151)	(2,917)	(1,399)	1,253)	(489)	(152)	214)	(205)	188)	(269)	(665)	961)	(2,140)	1,592)	328)	—)	—)
Net cash used for financing activities	(1,509,537)	(1,232,555)	(935,230)	(1,259,321)	(574,151)	(1,235,793)	(859,894)	(1,326,012)	(1,037,986)	(819,528)	(662,212)	(310,941)	(1,023,534)	(1,549,708)	(578,103)	(1,427,592)	(1,381,774)	(1,288,406)	(865,317)	(631,485)	563,400)	225,462)	(1,150,696)	(262,096)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	29,284)	2,380)	(26,022)	22,682)	(9,616)	(8,452)	6,725)	(11,031)	1,477)	(2,302)	17,878)	(16,925)	(16,683)	(5,090)	(4,678)	(3,776)	702)	(5,756)	8,187)	4,082)	7,103)	(10,715)	5,055)	(4,193)
Net change in cash, cash equivalents, and restricted cash	944,684)	(214,427)	(394,685)	221,281)	177,050)	48,231)	498,713)	(460,563)	31,036)	820,276)	228,606)	733,919)	(672,220)	(891,652)	1,043,808)	(377,151)	743,924)	(13,146)	(442,553)	(786,558)	953,342)	925,947)	(1,572,042)	948,440)

Net Income: Net income showed a general upward trend from September 2019 to December 2023, rising from approximately $466 million to about $1.19 billion. Notable increases occurred around 2021 and from late 2022 through early 2024, despite some variability and a decline in early 2023.
Depreciation and Amortization: Depreciation and amortization expenses gradually increased over the period, rising from about $64.7 million in September 2019 to nearly $98.4 million by June 2025. The progression was steady with minor fluctuations, reflecting ongoing capital investments and asset aging.
Deferred Income Taxes: Deferred income taxes fluctuated significantly, with large negative and positive adjustments. Early positive spikes around December 2019 were followed by consistent negative values through much of 2020 and 2021. Variability continued without a clear upward or downward trend, indicating complex tax timing effects.
Equity-Based Compensation Expense: This expense rose moderately over the analyzed timeframe, increasing from about $43 million to approximately $94 million by mid-2025. The expense reflects ongoing employee compensation strategies that involve equity awards and showed steady growth.
Other, Net (Operating Adjustments): ‘Other, net’ showed considerable volatility, with both positive and negative values across quarters. These irregular movements suggest episodic impacts from miscellaneous non-operating items.
Changes in Operating Assets and Liabilities: There was substantial volatility in changes of operating assets and liabilities. Large negative shifts were observed intermittently, such as in late 2019 and early 2022, while significant positive reversals occurred in some mid-2020 and 2023 quarters, indicating fluctuating working capital management dynamics.
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: These adjustments mirrored the volatility seen in operating assets and liabilities, showing large swings from significant negative to positive values. Such fluctuations reflect varying timing differences and non-cash items affecting cash flow reconciliation.
Net Cash Provided by Operating Activities: Operating cash flow generally displayed strong growth, increasing from around $464 million in late 2019 to over $2.5 billion by mid-2025. Despite some dips, notably in late 2020 and early 2023, overall operational cash generation improved considerably.
Capital Expenditures and Intangible Assets: Capital expenditures consistently represented cash outflows, increasing in magnitude over time with peaks near $288 million in late 2024. The pattern suggests sustained investment in property, plant, equipment, and intangible assets, though some reduction was evident in mid-2023.
Business Acquisitions, Net of Cash Acquired: A significant acquisition-related outflow was recorded once in late 2022, indicating a strategic purchase during this period.
Purchases and Proceeds from Available-for-Sale Securities: Purchases of available-for-sale securities showed high variability, with large outflows particularly in late 2019 and 2020. Conversely, proceeds from maturities and sales displayed a declining trend after peaking in 2020, indicating changes in investment portfolio management.
Net Cash Used for Investing Activities: Investing cash flows were notably volatile, alternating between large inflows and outflows. Peaks in cash inflows occurred in late 2019 and mid-2021, while significant outflows appeared throughout 2020 and in several quarters post-2022, aligning with capital spending and acquisition activities.
Principal Payments on Debt and Borrowings: Debt principal payments fluctuated with significant spikes such as a $822 million payment in mid-2021. There were also notable borrowings on revolving credit facility and issuance of long-term debt, particularly a $1.97 billion issuance recorded in mid-2020, indicating active debt management strategies.
Treasury Stock Purchases: Treasury stock repurchases showed persistent and growing cash outflows with some quarters exceeding $1 billion. This sustained activity highlights an aggressive approach to stock repurchases throughout the period.
Dividends Paid: Dividend payments remained relatively stable, generally ranging between $160 million and $300 million per quarter, with occasional increases indicating steady shareholder return policies.
Reissuance of Treasury Stock Related to Employee Stock Purchase Plan: This item showed intermittent proceeds reflecting employee stock plan activity, contributing modestly to cash inflows on a recurring basis.
Proceeds from Issuance of Common Stock: Proceeds from common stock issuance appeared irregular and relatively minor, indicating limited new equity financing during the period.
Net Cash Used for Financing Activities: Financing activities displayed substantial negative cash flows overall, due mainly to large treasury stock repurchases, debt repayments, and dividend payments. Occasional positive cash flow quarters were driven by borrowings and stock issuances but were not sustained.
Effect of Exchange Rate Changes on Cash: The effect of exchange rate fluctuations on cash was variable but generally small compared to other cash flow components. There were occasional sizeable positive or negative impacts, demonstrating sensitivity to currency fluctuations.
Net Change in Cash, Cash Equivalents, and Restricted Cash: Net changes in cash were highly volatile, with large positive spikes in several quarters (e.g., late 2019, late 2021) and significant declines in others, reflecting the interplay of operational cash generation, investing, and financing activities. Overall, the cash position showed resilience despite pronounced quarter-to-quarter fluctuations.

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Lam Research Corp. (NASDAQ:LRCX)

Cash Flow Statement Quarterly Data

Cash Flow Statement
Quarterly Data