| Nine Months Ended | ||||||||
|
May 30,
2019 |
May 31,
2018 | |||||||
| Net cash provided by operating activities | $ | 10,956 | $ | 12,245 | ||||
| Net cash provided by (used for) investing activities | (8,985 | ) | (6,087 | ) | ||||
| Net cash provided by (used for) financing activities | (3,330 | ) | (4,443 | ) | ||||
| Depreciation and amortization | 4,047 | 3,552 | ||||||
| Investments in capital expenditures | (7,806 | ) | (6,798 | ) | ||||
| Repayments of debt | (2,376 | ) | (6,767 | ) | ||||
| Payments to acquire treasury stock (5) | (2,727 | ) | (69 | ) | ||||
| Proceeds from issuance of stock | 112 | 1,636 | ||||||
| Proceeds from issuance of debt (2) | 1,800 | 969 | ||||||
1. In the first quarter of 2019, we adopted ASU 2014-09 – Revenue from Contracts with Customers (as amended, "ASC 606"), which supersedes nearly all existing revenue recognition guidance under generally accepted accounting principles in the United States. The core principal of ASC 606 is that an entity should recognize revenue when it transfers control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted ASC 606 in the first quarter of 2019 under the modified retrospective method and, in connection therewith, made certain adjustments to our opening balances as of August 31, 2018. Adjustments to opening balances included an increase to receivables of $114 million, reduction of deferred tax assets of $92 million, increase of other current assets of $30 million, and an increase to retained earnings of $50 million.
2. On February 6, 2019, we issued $600 million, $500 million, and $700 million in principal of senior unsecured notes due in 2024, 2026, and 2029, respectively. On February 8, 2019, we notified holders of our convertible senior notes due in 2043 ("2043G Notes") that we would redeem all of the outstanding 2043G Notes on March 13, 2019. In connection with our notice, we made an irrevocable election to settle any conversions in cash and, as a result, we reclassified $336 million from equity to a derivative debt liability. Holders converted substantially all of the 2043G Notes and, on March 13, 2019, we paid $1.43 billion to settle the conversions. We incurred losses of $316 million and $84 million in the third and second quarters of 2019, respectively, in connection with these transactions.
3. On December 22, 2017, the United States enacted comprehensive tax legislation, commonly referred to as the Tax Cuts and Jobs Act (the "Tax Act"), which imposed a one-time transition tax in 2018 (the "Repatriation Tax") and created a new minimum tax on certain foreign earnings. Our income tax provision consisted of the following:
| 3rd Qtr. | 2nd Qtr. | 3rd Qtr. | Nine Months Ended | |||||||||||||||||
|
May 30,
2019 |
February 28,
2019 |
May 31,
2018 |
May 30,
2019 |
May 31,
2018 | ||||||||||||||||
| Income tax (provision) benefit, excluding items below | $ | 125 | $ | (216 | ) | $ | (78 | ) | $ | (469 | ) | $ | (161 | ) | ||||||
| Utilization of and other changes in net deferred tax assets of MMJ, MMT, and MTTW | (32 | ) | (78 | ) | (35 | ) | (162 | ) | (78 | ) | ||||||||||
| Repatriation Tax, net of adjustments related to uncertain tax positions | 42 | 14 | 222 | 9 | (1,113 | ) | ||||||||||||||
| Release of the valuation allowance on net deferred tax assets of our U.S. operations | — | — | — | — | 1,337 | |||||||||||||||
| Remeasurement of deferred tax assets and liabilities reflecting lower U.S. corporate tax rates | — | — | — | — | (133 | ) | ||||||||||||||
| $ | 135 | $ | (280 | ) | $ | 109 | $ | (622 | ) | $ | (148 | ) | ||||||||
