v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Jan. 31, 2024
Cash flows from operating activities:      
Consolidated net income $ 22,270 $ 20,157 $ 16,270
Adjustments to reconcile consolidated net income to net cash provided by operating activities:      
Depreciation and amortization 14,203 12,973 11,853
Investment (gains) and losses, net (2,016) 878 3,193
Deferred income taxes 2,277 (635) (175)
Other operating activities 4,079 2,889 2,642
Changes in certain assets and liabilities, net of effects of acquisitions and dispositions:      
Receivables, net (1,136) (1,106) (797)
Inventories (1,443) (2,755) 2,017
Accounts payable 1,611 3,228 2,515
Accrued liabilities 1,607 379 (1,324)
Accrued income taxes 113 435 (468)
Net cash provided by operating activities 41,565 36,443 35,726
Cash flows from investing activities:      
Payments for property and equipment (26,642) (23,783) (20,606)
Proceeds from the disposal of property and equipment 106 432 250
Proceeds from disposal of certain strategic investments 927 4,080 0
Payments for business acquisitions, net of cash acquired (53) (1,896) (9)
Other investing activities (688) (212) (922)
Net cash used in investing activities (26,350) (21,379) (21,287)
Cash flows from financing activities:      
Net change in short-term borrowings 3,523 2,212 512
Proceeds from issuance of long-term debt 3,983 0 4,967
Repayments of long-term debt (2,625) (3,468) (4,217)
Dividends paid (7,507) (6,688) (6,140)
Purchase of Company stock (8,088) (4,494) (2,779)
Dividends paid to noncontrolling interest (439) (576) (763)
Purchase of noncontrolling interest 0 0 (3,462)
Sale of subsidiary stock 111 362 716
Other financing activities (2,511) (2,170) (2,248)
Net cash used in financing activities (13,553) (14,822) (13,414)
Effect of exchange rates on cash, cash equivalents and restricted cash 123 (641) 69
Net increase (decrease) in cash, cash equivalents and restricted cash 1,785 (399) 1,094
Cash, cash equivalents and restricted cash at beginning of year 9,536 9,935 8,841
Cash, cash equivalents and restricted cash at end of year 11,321 9,536 9,935
Supplemental disclosure of cash flow information:      
Income taxes paid 5,364 5,884 5,879
Interest paid $ 2,793 $ 2,739 $ 2,519

Source

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