UNAUDITED CONSOLIDATED CONDENSED BALANCE SHEETS
| (In millions) | April 29,
2018 | October 29,
2017 | |||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 4,870 | $ | 5,010 | |||
| Short-term investments | 482 | 2,266 | |||||
| Accounts receivable, net | 2,665 | 2,338 | |||||
| Inventories | 3,494 | 2,930 | |||||
| Other current assets | 380 | 374 | |||||
| Total current assets | 11,891 | 12,918 | |||||
| Long-term investments | 1,214 | 1,143 | |||||
| Property, plant and equipment, net | 1,257 | 1,066 | |||||
| Goodwill | 3,368 | 3,368 | |||||
| Purchased technology and other intangible assets, net | 313 | 412 | |||||
| Deferred income taxes and other assets | 455 | 512 | |||||
| Total assets | $ | 18,498 | $ | 19,419 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable and accrued expenses | $ | 2,619 | $ | 2,450 | |||
| Customer deposits and deferred revenue | 1,961 | 1,665 | |||||
| Total current liabilities | 4,580 | 4,115 | |||||
| Income taxes payable | 1,282 | 392 | |||||
| Long-term debt | 5,306 | 5,304 | |||||
| Other liabilities | 288 | 259 | |||||
| Total liabilities | 11,456 | 10,070 | |||||
| Total stockholders’ equity | 7,042 | 9,349 | |||||
| Total liabilities and stockholders’ equity | $ | 18,498 | $ | 19,419 | |||
APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
| (In millions) | Three Months Ended | Six Months Ended | |||||||||||||
| April 29,
2018 | April 30,
2017 | April 29,
2018 | April 30,
2017 | ||||||||||||
| Cash flows from operating activities: | |||||||||||||||
| Net income | $ | 1,129 | $ | 824 | $ | 1,264 | $ | 1,527 | |||||||
| Adjustments required to reconcile net income to cash provided by operating activities: | |||||||||||||||
| Depreciation and amortization | 108 | 103 | 227 | 200 | |||||||||||
| Share-based compensation | 64 | 53 | 129 | 107 | |||||||||||
| Deferred income taxes | 45 | (16 | ) | 86 | 9 | ||||||||||
| Other | 11 | — | 11 | 9 | |||||||||||
| Net change in operating assets and liabilities | (746 | ) | (53 | ) | 360 | (149 | ) | ||||||||
| Cash provided by operating activities | 611 | 911 | 2,077 | 1,703 | |||||||||||
| Cash flows from investing activities: | |||||||||||||||
| Capital expenditures | (121 | ) | (77 | ) | (324 | ) | (141 | ) | |||||||
| Cash paid for acquisitions, net of cash acquired | — | (26 | ) | (5 | ) | (26 | ) | ||||||||
| Proceeds from sales and maturities of investments | 488 | 601 | 2,432 | 887 | |||||||||||
| Purchases of investments | (345 | ) | (1,779 | ) | (729 | ) | (2,368 | ) | |||||||
| Cash provided by (used in) investing activities | 22 | (1,281 | ) | 1,374 | (1,648 | ) | |||||||||
| Cash flows from financing activities: | |||||||||||||||
| Debt borrowings, net of issuance costs | — | 2,176 | — | 2,176 | |||||||||||
| Proceeds from common stock issuances and others | 56 | 46 | 56 | 46 | |||||||||||
| Common stock repurchases | (2,500 | ) | (282 | ) | (3,282 | ) | (412 | ) | |||||||
| Tax withholding payments for vested equity awards | (13 | ) | (9 | ) | (154 | ) | (111 | ) | |||||||
| Payments of dividends to stockholders | (105 | ) | (108 | ) | (211 | ) | (216 | ) | |||||||
| Cash provided by (used in) financing activities | (2,562 | ) | 1,823 | (3,591 | ) | 1,483 | |||||||||
| Increase (decrease) in cash and cash equivalents | (1,929 | ) | 1,453 | (140 | ) | 1,538 | |||||||||
| Cash and cash equivalents — beginning of period | 6,799 | 3,491 | 5,010 | 3,406 | |||||||||||
| Cash and cash equivalents — end of period | $ | 4,870 | $ | 4,944 | $ | 4,870 | $ | 4,944 | |||||||
| Supplemental cash flow information: | |||||||||||||||
| Cash payments for income taxes | $ | 139 | $ | 30 | $ | 217 | $ | 65 | |||||||
| Cash refunds from income taxes | $ | 1 | $ | 6 | $ | 41 | $ | 8 | |||||||
| Cash payments for interest | $ | 76 | $ | 41 | $ | 110 | $ | 75 | |||||||
