(In millions)
(Unaudited)
| For the year ended |
September 2,
2021 |
September 3,
2020 | ||||
| Cash flows from operating activities | ||||||
| Net income | $ | 5,861 | $ | 2,710 | ||
| Adjustments to reconcile net income to net cash provided by operating activities | ||||||
| Depreciation expense and amortization of intangible assets | 6,214 | 5,650 | ||||
| Amortization of debt discount and other costs | 30 | 26 | ||||
| Noncash restructure and asset impairment | 454 | 40 | ||||
| Stock-based compensation | 378 | 328 | ||||
| (Gain) loss on debt prepayments, repurchases, and conversions | 1 | (40 | ) | |||
| Change in operating assets and liabilities | ||||||
| Receivables | (1,446 | ) | (723 | ) | ||
| Inventories | 866 | (435 | ) | |||
| Accounts payable and accrued expenses | 210 | 725 | ||||
| Deferred income taxes, net | (50 | ) | 79 | |||
| Other | (50 | ) | (54 | ) | ||
| Net cash provided by operating activities | 12,468 | 8,306 | ||||
| Cash flows from investing activities | ||||||
| Expenditures for property, plant, and equipment | (10,030 | ) | (8,223 | ) | ||
| Purchases of available-for-sale securities | (3,163 | ) | (1,857 | ) | ||
| Proceeds from maturities of available-for-sale securities | 1,250 | 814 | ||||
| Proceeds from sales of available-for-sale securities | 856 | 1,458 | ||||
| Proceeds from government incentives | 495 | 262 | ||||
| Other | 3 | (43 | ) | |||
| Net cash provided by (used for) investing activities | (10,589 | ) | (7,589 | ) | ||
| Cash flows from financing activities | ||||||
| Repayments of debt | (1,520 | ) | (4,366 | ) | ||
| Payments to acquire treasury stock | (1,294 | ) | (251 | ) | ||
| Payments on equipment purchase contracts | (295 | ) | (63 | ) | ||
| Acquisition of noncontrolling interest in IMFT | — | (744 | ) | |||
| Proceeds from issuance of debt | 1,188 | 5,000 | ||||
| Other | 140 | 107 | ||||
| Net cash provided by (used for) financing activities | (1,781 | ) | (317 | ) | ||
| Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | 41 | 11 | ||||
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 139 | 411 | ||||
| Cash, cash equivalents, and restricted cash at beginning of period | 7,690 | 7,279 | ||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 7,829 | $ | 7,690 | ||
