| May'19 | May'18 | May'17 | May'16 | May'15 | May'14 | May'13 | May'12 | May'11 | May'10 | May'09 | May'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net income | |||||||||||
11,083 | 3,587 | 9,452 | 8,901 | 9,938 | 10,955 | 10,925 | 9,981 | 8,547 | 6,135 | 5,593 | 5,521 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation | |||||||||||
1,230 | 1,165 | 1,000 | 871 | 712 | 608 | 546 | 486 | 368 | 298 | 263 | 268 |
Amortization of intangible assets | |||||||||||
1,689 | 1,620 | 1,451 | 1,638 | 2,149 | 2,300 | 2,385 | 2,430 | 2,428 | 1,973 | 1,713 | 1,212 |
Allowances for doubtful accounts receivable | |||||||||||
190 | 146 | 129 | 130 | 56 | 122 | 118 | 92 | 164 | 143 | 118 | 164 |
Deferred income taxes | |||||||||||
-1,191 | -847 | -440 | -105 | -548 | -248 | -117 | 9 | -253 | -511 | 395 | -135 |
Stock-based compensation | |||||||||||
1,653 | 1,607 | 1,350 | 1,037 | 933 | 805 | 755 | 659 | 510 | 436 | 355 | 369 |
Tax benefits on the vesting of restricted stock-based awards and exercise of stock options | |||||||||||
- | - | - | - | - | 480 | 410 | 182 | 325 | 203 | 252 | 588 |
Excess tax benefits on the exercise of stock options and vesting of restricted stock-based awards | |||||||||||
- | - | - | - | - | 250 | 241 | 97 | 215 | 110 | 194 | -454 |
Other, net | |||||||||||
-157 | 27 | -126 | -143 | -327 | -311 | -155 | -84 | -68 | -13 | 185 | 18 |
Changes in operating assets and liabilities, net of effects from acquisitions: | |||||||||||
Decrease in trade receivables, net | |||||||||||
272 | -267 | 67 | -96 | -208 | -24 | -267 | 8 | 729 | 362 | -336 | -825 |
Increase in inventories | |||||||||||
- | - | - | - | 96 | -57 | 66 | -150 | 28 | -73 | - | 0 |
Decrease in prepaid expenses and other assets | |||||||||||
-261 | 258 | 384 | 2 | 387 | 143 | 555 | 51 | -14 | -340 | -145 | -191 |
Decrease in accounts payable and other liabilities | |||||||||||
-102 | -260 | 230 | -13 | 247 | 48 | -541 | -720 | -120 | -360 | -691 | -153 |
Increase in income taxes payable | |||||||||||
-453 | 8,150 | 732 | 313 | 386 | -320 | 35 | 54 | -96 | -79 | 142 | 368 |
Decrease in deferred revenues | |||||||||||
306 | 236 | 547 | 676 | 655 | 172 | 148 | 492 | 231 | 489 | 433 | 652 |
Net cash provided by operating activities | |||||||||||
14,551 | 15,386 | 14,126 | 13,685 | 14,580 | 14,921 | 14,224 | 13,743 | 11,214 | 8,681 | 8,255 | 7,402 |
Cash flows from investing activities: | |||||||||||
Purchases of marketable securities and other investments | |||||||||||
1,400 | 25,282 | 25,867 | 24,562 | 31,421 | 32,316 | 32,160 | 38,625 | 31,009 | 15,703 | 9,315 | 5,624 |
Proceeds from maturities of marketable securities and other investments | |||||||||||
12,681 | 20,372 | 15,186 | 21,247 | 20,004 | 28,845 | 30,159 | 35,594 | 27,120 | 11,220 | 8,404 | 4,281 |
Proceeds from sales of marketable securities | |||||||||||
17,299 | 2,745 | 2,429 | - | - | - | - | - | - | - | - | - |
Acquisitions, net of cash acquired | |||||||||||
363 | 1,724 | 11,221 | 650 | 6,239 | 3,488 | 3,305 | 4,702 | 1,847 | 5,606 | 1,159 | 7,643 |
Capital expenditures | |||||||||||
1,660 | 1,736 | 2,021 | 1,189 | 1,391 | 580 | 650 | 648 | 450 | 230 | 529 | 243 |
Proceeds from sale of property | |||||||||||
- | - | - | - | - | - | - | - | 105 | - | - | 153 |
Net cash provided by investing activities | |||||||||||
26,557 | -5,625 | -21,494 | -5,154 | -19,047 | -7,539 | -5,956 | -8,381 | -6,081 | -10,319 | -2,599 | -9,076 |
Cash flows from financing activities: | |||||||||||
Payments for repurchases of common stock | |||||||||||
36,140 | 11,347 | 3,561 | 10,440 | 8,087 | 9,813 | 11,021 | 5,856 | 1,160 | 992 | 3,972 | 2,023 |
Proceeds from issuances of common stock | |||||||||||
2,155 | 2,402 | 2,181 | 1,425 | 1,816 | 2,155 | 1,527 | 733 | 1,376 | 874 | 760 | 1,288 |
Shares repurchased for tax withholdings upon vesting of restricted stock-based awards | |||||||||||
503 | 506 | 283 | 89 | 14 | 20 | - | - | - | - | - | - |
Payments of dividends to stockholders | |||||||||||
2,932 | 3,140 | 2,631 | 2,541 | 2,255 | 2,178 | 1,433 | 1,205 | 1,061 | 1,004 | 250 | 0 |
Proceeds from borrowings, net of issuance costs | |||||||||||
0 | 12,443 | 17,732 | 3,750 | 19,842 | 5,566 | 4,974 | 1,700 | 4,354 | 7,220 | - | 6,171 |
Repayments of borrowings | |||||||||||
4,500 | 9,800 | 4,094 | 2,000 | 1,500 | - | 2,950 | 1,405 | 3,143 | 3,582 | 1,004 | 2,560 |
Excess tax benefits on the exercise of stock options and vesting of restricted stock-based awards | |||||||||||
- | - | - | - | - | 250 | 241 | 97 | 215 | 110 | 194 | 454 |
Distributions to noncontrolling interests | |||||||||||
- | - | - | 85 | 196 | 28 | 31 | 163 | 65 | 59 | 53 | 49 |
Other, net | |||||||||||
-136 | -34 | -258 | - | - | - | 193 | - | - | 97 | -97 | 0 |
Net cash used for financing activities | |||||||||||
-42,056 | -9,982 | 9,086 | -9,980 | 9,606 | -4,068 | -8,500 | -6,099 | 516 | 2,664 | -4,422 | 3,281 |
Effect of exchange rate changes on cash and cash equivalents | |||||||||||
-158 | 57 | -86 | -115 | -1,192 | -158 | -110 | -471 | 600 | -107 | -501 | 437 |
Net increase (decrease) in cash and cash equivalents | |||||||||||
-1,106 | -164 | 1,632 | -1,564 | 3,947 | 3,156 | -342 | -1,208 | 6,249 | 919 | 733 | 2,044 |
Non-cash investing and financing transactions: | |||||||||||
Fair values of stock awards assumed in connection with acquisitions | |||||||||||
8 | 3 | 90 | 1 | 12 | 148 | 15 | 29 | 17 | 100 | 1 | 240 |
Fair value of contingent consideration payable in connection with acquisition | |||||||||||
- | - | - | - | - | - | - | 346 | - | - | - | - |
Change in unsettled repurchases of common stock | |||||||||||
-140 | 154 | -69 | -1 | 1 | -15 | -27 | 112 | 12 | - | -12 | -23 |
Change in unsettled investment purchases | |||||||||||
0 | -303 | 73 | -112 | 264 | 78 | - | - | - | - | - | - |
Supplemental schedule of cash flow data: | |||||||||||
Cash paid for income taxes | |||||||||||
2,901 | 1,562 | 1,983 | 2,331 | 3,055 | 2,841 | 2,644 | 2,731 | 2,931 | 2,488 | 2,170 | 1,687 |
Cash paid for interest | |||||||||||
2,059 | 1,910 | 1,612 | 1,616 | 1,022 | 827 | 781 | 737 | 770 | 652 | 627 | 347 |