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.
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- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
- Analysis of Debt
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Qualcomm Inc., consolidated cash flow statement
US$ in millions
Based on: 10-K (reporting date: 2024-09-29), 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29).
- Net Income from Continuing Operations
- Net income showed a strong upward trend from 2019 through 2022, nearly tripling from $4,386 million to $12,986 million, followed by a significant decline to $7,339 million in 2023, with a partial recovery to $10,110 million in 2024.
- Depreciation and Amortization Expense
- This expense gradually increased from $1,401 million in 2019 to a peak of $1,809 million in 2023, then decreased slightly to $1,706 million in 2024, indicating steady investment in capital assets and intangible assets.
- Impairment Charges
- Indefinite and long-lived asset impairment charges were absent in most years but showed a notable spike to $182 million in 2023, before falling back to a low level of $7 million in 2024.
- Income Tax Provision in Excess of Payments
- This item showed negative values in most years except 2019, reflecting that income tax payments generally exceeded the provisions, with particularly large negative values in 2023 and 2024 (-$1,269 million and -$3,064 million respectively), indicating aggressive tax payments or adjustments.
- Share-Based Compensation Expense
- There was a consistent increase in share-based compensation, rising steadily each year from $1,037 million in 2019 to $2,648 million in 2024, suggesting increasing employee incentive costs.
- Marketable Securities and Investments Gains/(Losses)
- Gain/loss figures fluctuated, with significant gains in 2021 (-$1,002 million loss) turning into a loss of $432 million in 2022, then shifting back to gains/losses around -$152 million and -$349 million in 2023 and 2024 respectively, indicating volatility in investment returns.
- Impairment Losses on Other Investments
- These losses showed considerable volatility with spikes in 2020 ($405 million) and 2023 ($132 million), but were generally under $100 million in other years, suggesting episodic write-downs.
- Changes in Working Capital
- Working capital components such as accounts receivable, inventories, and liabilities exhibited large swings from year to year, with some years showing significant positive or negative changes (e.g., a $2,472 million increase in accounts receivable in 2023 and a large negative change in 2022). This indicates fluctuating operational cash flow impacts related to changes in assets and liabilities.
- Operating Cash Flow
- Net cash provided by operating activities showed an overall upward trend from $7,286 million in 2019 to $12,293 million in 2024, with a dip in 2022 corresponding with major working capital changes and other adjustments.
- Capital Expenditures
- Capital spending increased from 2019 ($887 million) to peak in 2022 ($2,262 million) before decreasing substantially in 2023 ($1,450 million) and 2024 ($1,041 million), reflecting varying investment levels in fixed assets.
- Marketable Securities Activities
- Purchases of securities had a significant outflow in 2020 and 2021 (over $6 billion each year), then dropped markedly in later years. Proceeds from sales and maturities of securities fluctuated but remained substantial, indicating active portfolio management.
- Acquisitions and Other Investments
- Acquisition-related cash outflows peaked in 2022 at $4,912 million but were substantially lower in other years, showing a large acquisition or investment during that year followed by less intensive activity.
- Investing Cash Flow
- Net cash used by investing activities showed large negative values especially between 2020 and 2022, then improved but remained negative through 2024, indicating ongoing but fluctuating investment spending and acquisition activity.
- Financing Activities
- Net cash used by financing activities increased in negativity from $6,386 million in 2019 to $9,288 million in 2024. Major components included substantial and increasing share repurchases—from $1,793 million in 2019 to $4,121 million in 2024—and growing dividends paid. Debt issuance and repayments were active but declined in magnitude over time.
- Discontinued Operations
- Cash flows from discontinued operations generally showed minor negative or positive impacts, with a notable $926 million positive inflow in 2023, suggesting some divestiture-related cash generation that year.
- Effect of Exchange Rate Changes
- The impact of currency exchange on cash and cash equivalents was relatively minor across all years, with both positive and negative effects under $150 million in magnitude.
- Cash Position
- Cash and cash equivalents exhibited volatility, with a sharp decline from 2019 to 2020 (from $11,839 million to $6,707 million), a partial recovery in 2021, a significant drop in 2022 to $3,099 million, followed by an increase in 2023 to $8,527 million, and a slight decrease in 2024 to $7,849 million.