Adobe Inc.

NasdaqGS-ADBE

Operating Activities	Nov '25	May '25	Nov '24	May '24	Dec '23	Jun '23
Net Income	3,628	3,502	3,367	2,193	2,886	2,542
Net Income
Depreciation & Amortization	392	426	431	426	440	432
Depreciation, Amortization and Accretion
Share-Based Compensation Expense	986	956	915	918	869	849
Stock-Based Compensation
Other Adjustments	-103	-253	-88	-209	-224	-137
Reduction of Operating Lease Right-of-Use Assets
Lease-Related Asset Impairments
Deferred Income Taxes
Gain on the Sale of Property
Unrealized Investment Gains, Net
Tax Benefit from Stock-Based Compensation
Excess Tax Benefits from Stock-Based Compensation
Other Non-Cash Adjustments
Other Non-Cash Items
Changes in Trade Receivables	-359	334	-461	604	-544	385
Trade Receivables, Net
Changes in Accounts Payable	-30	7	-1	45	-20	-29
Trade Payables
Changes in Accrued Expenses	-103	-92	241	-45	182	-36
Accrued Expenses and Other Liabilities
Changes in Income Taxes Payable	50	-61	-19	87	-432	421
Income Taxes Payable
Changes in Unearned Revenue	696	75	573	-264	569	-33
Changes in Deferred Revenue
Changes in Other Operating Activities	308	-221	25	-641	-256	-562
Prepaid Expenses and Other Assets
Changes in Other Operating Assets and Liabilities
Cash from Operating Activities	5,358	4,673	4,942	3,114	3,470	3,832
Net Cash Provided by Operating Activities

Investing Activities	Nov '25	May '25	Nov '24	May '24	Dec '23	Jun '23
Capital Expenditure	-106	-73	-105	-78	-138	-222
Purchases of Property and Equipment
Proceeds from Sale of Property, Plant & Equipment	—	—	—	—	—	—
Proceeds from Sale of Property and Equipment
Purchases of Investments	-609	-742	-59	—	—	—
Purchases of Short-Term Investments
Proceeds from Sale of Investments	440	248	195	304	455	734
Maturities of Short-Term Investments
Proceeds from Sales of Short-Term Investments
Proceeds from Sale of Long-Term Investments and Other Assets
Payments for Business Acquisitions	—	—	—	—	—	—
Acquisitions, Net of Cash Acquired
Other Investing Activities	-21	-195	-59	-49	-19	-34
Purchases of Long-Term Investments, Intangibles and Other Assets
Cash from Investing Activities	-425	-762	-28	177	298	478
Net Cash Provided by Investing Activities

Financing Activities	Nov '25	May '25	Nov '24	May '24	Dec '23	Jun '23
Issuance of Long-Term Debt	—	1,997	—	1,997	—	—
Proceeds from Issuance of Debt
Repayments of Long-Term Debt	—	-1,500	—	—	—	-500
Repayment of Capital Lease Obligations
Repayment of Debt
Net Issuance / (Repayments) of Long-Term Debt	—	497	—	1,997	—	-500
Issuance of Common Shares	252	96	264	97	244	70
Proceeds from Re-Issuance of Treasury Stock
Repurchases of Common Shares	-4,531	-6,750	-5,000	-4,500	-2,000	-2,400
Repurchases of Common Stock
Net Issuance / (Repurchases) of Common Shares	-4,279	-6,654	-4,736	-4,403	-1,756	-2,330
Other Financing Activities	-152	-472	-218	-364	-332	-264
Cost of Issuance of Treasury Stock
Taxes Paid Related to Net Share Settlement of Equity Awards
Excess Tax Benefits from Stock-Based Compensation
Debt Issuance Costs
Other Financing Activities, Net
Taxes Paid Related to Net Share Settlement of Equity Awards, Net of Proceeds from Treasury Stock Re-Issuances
Cash from Financing Activities	-4,431	-6,629	-4,954	-2,770	-2,088	-3,094
Net Cash Provided by Financing Activities
Net Cash Used for Financing Activities