Microsoft Corporation

NasdaqGS-MSFT

Operating Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Net Income	53,057	48,775	43,975	44,161	38,380	33,981
Net Income
Depreciation & Amortization	19,943	14,210	12,407	9,880	7,423	6,438
Depreciation, Amortization, and Other
Stock Based Compensation	6,053	5,921	5,399	5,335	4,881	4,730
Stock-Based Compensation Expense
Other Adjustments	-4,707	-1,740	-2,375	-2,058	-3,559	-2,304
Goodwill and Asset Impairments
Net Recognized Gains on Investments and Derivatives
Deferred Income Taxes
Changes in Trade Receivables	-18,640	8,059	-15,274	8,083	-12,652	8,565
Accounts Receivable
Changes in Inventories	-29	338	315	969	480	762
Inventories
Changes in Accounts Payable	527	42	4,852	-1,307	904	-3,625
Accounts Payable
Changes in Income Taxes Payable	2,341	-2,379	1,816	-129	2,095	-2,453
Income Taxes
Changes in Unearned Revenue	17,329	-11,891	15,012	-9,664	14,043	-8,508
Deferral of Unearned Revenue
Recognition of Unearned Revenue
Unearned Revenue
Changes in Other Operating Activities	3,817	-4,864	2,985	-5,834	1,216	-3,215
Other Current Assets
Other Long-Term Assets
Other Current Liabilities
Other Long-Term Liabilities
Cash from Operating Activities	79,691	56,471	69,112	49,436	53,211	34,371
Net Cash from Operations

Investing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Capital Expenditure	-33,824	-30,727	-24,825	-19,652	-15,550	-12,557
Additions to Property and Equipment
Purchases of Investments	-26,105	-3,670	-5,014	-12,718	-21,039	-16,612
Purchases of Investments
Proceeds from Sale of Investments	16,121	9,267	8,871	26,798	26,788	21,076
Maturities of Investments
Sales of Investments
Payments for Business Acquisitions	-2,724	-3,254	-2,917	-66,215	-642	-1,028
Acquisition of Companies, Net of Cash Acquired and Divestitures, and Purchases of Intangible and Other Assets
Other Investing Activities	3,246	-929	-1,663	365	-1,955	-1,161
Securities Lending Payable
Other, Net
Cash from Investing Activities	-43,286	-29,313	-25,548	-71,422	-12,398	-10,282
Net Cash Used in Investing

Financing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Issuance of Short-Term Debt	—	-5,746	-4,952	10,202	—	—
Repayments of Debt, Maturities of 90 Days or Less
Net Issuance / (Repayments) of Short-Term Debt	—	-5,746	-4,952	10,202	—	—
Issuance of Long-Term Debt	—	—	6,549	17,846	—	—
Proceeds from Issuance of Debt
Repayments of Long-Term Debt	-2,250	-966	-24,654	-4,416	-1,000	-1,750
Repayments of Debt
Net Issuance / (Repayments) of Long-Term Debt	-2,250	-966	-18,105	13,430	-1,000	-1,750
Issuance of Common Shares	1,094	962	1,056	946	1,048	818
Common Stock Issued
Repurchases of Common Shares	-9,327	-9,093	-8,423	-8,831	-11,213	-11,032
Common Stock Repurchased
Net Issuance / (Repurchases) of Common Shares	-8,233	-8,131	-7,367	-7,885	-10,165	-10,214
Common Share Dividends Paid	-12,338	-11,744	-11,146	-10,625	-10,113	-9,687
Common Stock Cash Dividends Paid
Other Financing Activities	-1,059	-1,232	-801	-508	-425	-581
Cash Premium on Debt Exchange
Other, Net
Cash from Financing Activities	-23,880	-27,819	-42,371	4,614	-21,703	-22,232
Net Cash Used in Financing