ADOBE INC
For the period ended Dec 1, 2023. Filed Jan 17, 2024.
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FY2023 · Filed Jan 17, 2024
ADBE$236.70-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Years Ended | |||
|---|---|---|---|
| December 1,2023 | December 2,2022 | December 3,2021 | |
| Cash flows from operating activities: | |||
| Net income | $5,428 | $4,756 | $4,822 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 872 | 856 | 788 |
| Stock-based compensation | 1,718 | 1,440 | 1,069 |
| Reduction of operating lease right-of-use assets | 72 | 83 | 73 |
| Deferred income taxes | (426) | 328 | 183 |
| Unrealized losses (gains) on investments, net | (10) | 29 | (4) |
| Other non-cash items | 3 | 10 | 7 |
| Changes in operating assets and liabilities, net of acquired assets and assumed liabilities: | |||
| Trade receivables, net | (159) | (198) | (430) |
| Prepaid expenses and other assets | (818) | (94) | (475) |
| Trade payables | (49) | 66 | (20) |
| Accrued expenses and other liabilities | 146 | 7 | 162 |
| Income taxes payable | (11) | 19 | 2 |
| Deferred revenue | 536 | 536 | 1,053 |
| Net cash provided by operating activities | 7,302 | 7,838 | 7,230 |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | — | (909) | (1,533) |
| Maturities of short-term investments | 965 | 683 | 877 |
| Proceeds from sales of short-term investments | 223 | 270 | 191 |
| Acquisitions, net of cash acquired | — | (126) | (2,682) |
| Purchases of property and equipment | (360) | (442) | (348) |
| Purchases of long-term investments, intangibles and other assets | (53) | (46) | (42) |
| Proceeds from sales of long-term investments and other assets | 1 | — | — |
| Net cash provided by (used for) investing activities | 776 | (570) | (3,537) |
| Cash flows from financing activities: | |||
| Repurchases of common stock | (4,400) | (6,550) | (3,950) |
| Proceeds from re-issuance of treasury stock | 314 | 278 | 291 |
| Taxes paid related to net share settlement of equity awards | (589) | (518) | (719) |
| Repayment of debt | (500) | — | — |
| Other financing activities, net | (7) | (35) | 77 |
| Net cash used for financing activities | (5,182) | (6,825) | (4,301) |
| Effect of foreign currency exchange rates on cash and cash equivalents | 9 | (51) | (26) |
| Net change in cash and cash equivalents | 2,905 | 392 | (634) |
| Cash and cash equivalents at beginning of year | 4,236 | 3,844 | 4,478 |
| Cash and cash equivalents at end of year | $7,141 | $4,236 | $3,844 |
| Supplemental disclosures: | |||
| Cash paid for income taxes, net of refunds | $1,854 | $778 | $843 |
| Cash paid for interest | $106 | $103 | $100 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.