Applied Materials Announces Fourth Quarter and Fiscal Year 2024

Applied Materials Announces Fourth Quarter and Fiscal Year 2024 Results

UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

(In millions)	Three Months Ended						Twelve Months Ended
(In millions)	October 27, 2024			October 29, 2023			October 27, 2024			October 29, 2023
Cash flows from operating activities:
Net income	$	1,731		$	2,004		$	7,177		$	6,856
Adjustments required to reconcile net income to cash provided by operating activities:
Depreciation and amortization		110			130			392			515
Share-based compensation		141			115			577			490
Deferred income taxes		(248	)		198			(633	)		24
Other		246			(149	)		47			40
Net change in operating assets and liabilities		595			(743	)		1,117			775
Cash provided by operating activities		2,575			1,555			8,677			8,700
Cash flows from investing activities:
Capital expenditures		(407	)		(309	)		(1,190	)		(1,106	)
Cash paid for acquisitions, net of cash acquired		—			—			—			(25	)
Proceeds from sales and maturities of investments		956			297			2,451			1,268
Purchases of investments		(1,620	)		(477	)		(3,588	)		(1,672	)
Cash used in investing activities		(1,071	)		(489	)		(2,327	)		(1,535	)
Cash flows from financing activities:
Debt borrowings, net of issuance costs		—			—			694			—
Proceeds from issuance of commercial paper		101			99			401			991
Repayments of commercial paper		(100	)		(200	)		(400	)		(900	)
Proceeds from common stock issuances		124			116			243			227
Common stock repurchases		(1,442	)		(700	)		(3,823	)		(2,189	)
Tax withholding payments for vested equity awards		(33	)		(14	)		(291	)		(179	)
Payments of dividends to stockholders		(329	)		(268	)		(1,192	)		(975	)
Repayments of principal on finance leases		(90	)		1			(102	)		(7	)
Cash used in financing activities		(1,769	)		(966	)		(4,470	)		(3,032	)
Increase (decrease) in cash, cash equivalents and restricted cash equivalents		(265	)		100			1,880			4,133
Cash, cash equivalents and restricted cash equivalents — beginning of period		8,378			6,133			6,233			2,100
Cash, cash equivalents and restricted cash equivalents — end of period	$	8,113		$	6,233		$	8,113		$	6,233

Reconciliation of cash, cash equivalents, and restricted cash equivalents
Cash and cash equivalents	$	8,022		$	6,132		$	8,022		$	6,132
Restricted cash equivalents included in deferred income taxes and other assets		91			101			91			101
Total cash, cash equivalents, and restricted cash equivalents	$	8,113		$	6,233		$	8,113		$	6,233

Supplemental cash flow information:
Cash payments for income taxes	$	138		$	588		$	957		$	1,006
Cash refunds from income taxes	$	8		$	2		$	15		$	53
Cash payments for interest	$	68		$	68		$	205		$	205

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 Next Page »