| (In millions) | January 27, | October 28, | |||||
| 2019 | 2018 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 3,192 | $ | 3,440 | |||
| Short-term investments | 520 | 590 | |||||
| Accounts receivable, net | 2,444 | 2,323 | |||||
| Inventories | 3,703 | 3,721 | |||||
| Other current assets | 426 | 530 | |||||
| Total current assets | 10,285 | 10,604 | |||||
| Long-term investments | 1,588 | 1,568 | |||||
| Property, plant and equipment, net | 1,456 | 1,407 | |||||
| Goodwill | 3,368 | 3,368 | |||||
| Purchased technology and other intangible assets, net | 199 | 213 | |||||
| Deferred income taxes and other assets | 2,026 | 473 | |||||
| Total assets | $ | 18,922 | $ | 17,633 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable and accrued expenses | $ | 2,420 | $ | 2,721 | |||
| Contract liabilities | 1,356 | 1,201 | |||||
| Total current liabilities | 3,776 | 3,922 | |||||
| Income taxes payable | 1,303 | 1,254 | |||||
| Long-term debt | 5,310 | 5,309 | |||||
| Other liabilities | 324 | 303 | |||||
| Total liabilities | 10,713 | 10,788 | |||||
| Total stockholders’ equity | 8,209 | 6,845 | |||||
| Total liabilities and stockholders’ equity | $ | 18,922 | $ | 17,633 | |||
APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
| (In millions) | Three Months Ended | ||||||
| January 27, | January 28, | ||||||
| 2019 | 2018 | ||||||
| Cash flows from operating activities: | |||||||
| Net income | $ | 771 | $ | 165 | |||
| Adjustments required to reconcile net income to cash provided by operating activities: | |||||||
| Depreciation and amortization | 88 | 119 | |||||
| Share-based compensation | 65 | 65 | |||||
| Deferred income taxes | 41 | 32 | |||||
| Other | 1 | — | |||||
| Net change in operating assets and liabilities | (132 | ) | 1,085 | ||||
| Cash provided by operating activities | 834 | 1,466 | |||||
| Cash flows from investing activities: | |||||||
| Capital expenditures | (133 | ) | (203 | ) | |||
| Cash paid for acquisitions, net of cash acquired | — | (5 | ) | ||||
| Proceeds from sales and maturities of investments | 464 | 1,944 | |||||
| Purchases of investments | (397 | ) | (384 | ) | |||
| Cash provided by (used in) investing activities | (66 | ) | 1,352 | ||||
| Cash flows from financing activities: | |||||||
| Common stock repurchases | (750 | ) | (782 | ) | |||
| Tax withholding payments for vested equity awards | (74 | ) | (141 | ) | |||
| Payments of dividends to stockholders | (192 | ) | (106 | ) | |||
| Cash used in financing activities | (1,016 | ) | (1,029 | ) | |||
| Increase (decrease) in cash and cash equivalents | (248 | ) | 1,789 | ||||
| Cash and cash equivalents — beginning of period | 3,440 | 5,010 | |||||
| Cash and cash equivalents — end of period | $ | 3,192 | $ | 6,799 | |||
| Supplemental cash flow information: | |||||||
| Cash payments for income taxes | $ | 34 | $ | 78 | |||
| Cash refunds from income taxes | $ | 8 | $ | 40 | |||
| Cash payments for interest | $ | 34 | $ | 34 | |||
APPLIED MATERIALS, INC.
