Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Salesforce Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Net income	6,197)	4,136)	208)	1,444)	4,072)	126)
Depreciation and amortization	3,477)	3,959)	3,786)	3,298)	2,846)	2,135)
Amortization of costs capitalized to obtain revenue contracts, net	2,095)	1,925)	1,668)	1,348)	1,058)	876)
Stock-based compensation expense	3,183)	2,787)	3,279)	2,779)	2,190)	1,785)
Loss on settlement of Salesforce.org reseller agreement	—)	—)	—)	—)	—)	166)
(Gains) losses on strategic investments, net	121)	277)	239)	(1,211)	(2,170)	(427)
Tax benefit from intra-entity transfer of intangible property	—)	—)	—)	—)	(2,003)	—)
Accounts receivable, net	(490)	(659)	(995)	(1,824)	(1,556)	(1,000)
Costs capitalized to obtain revenue contracts, net	(2,121)	(1,872)	(2,345)	(2,283)	(1,645)	(1,130)
Prepaid expenses and other current assets and other assets	(1,495)	(843)	(302)	114)	(133)	(119)
Accounts payable and accrued expenses and other liabilities	1,089)	(478)	528)	507)	1,100)	982)
Operating lease liabilities	(548)	(621)	(699)	(801)	(830)	(728)
Unearned revenue	1,584)	1,623)	1,744)	2,629)	1,872)	1,665)
Changes in assets and liabilities, net of business combinations	(1,981)	(2,850)	(2,069)	(1,658)	(1,192)	(330)
Adjustments to reconcile net income to net cash provided by operating activities	6,895)	6,098)	6,903)	4,556)	729)	4,205)
Net cash provided by operating activities	13,092)	10,234)	7,111)	6,000)	4,801)	4,331)
Business combinations, net of cash acquired	(2,734)	(82)	(439)	(14,876)	(1,281)	(369)
Purchases of strategic investments	(539)	(496)	(550)	(1,718)	(1,069)	(768)
Sales of strategic investments	126)	108)	355)	2,201)	1,051)	434)
Purchases of marketable securities	(6,879)	(3,761)	(4,777)	(5,674)	(4,833)	(3,857)
Sales of marketable securities	4,143)	1,511)	1,771)	4,179)	1,836)	1,444)
Maturities of marketable securities	3,378)	2,129)	2,449)	2,069)	1,035)	779)
Capital expenditures	(658)	(736)	(798)	(717)	(710)	(643)
Net cash used in investing activities	(3,163)	(1,327)	(1,989)	(14,536)	(3,971)	(2,980)
Proceeds from issuance of debt, net of issuance costs	—)	—)	—)	7,906)	(20)	—)
Repayments of Slack Convertible Notes, net of capped call proceeds	—)	—)	—)	(1,197)	—)	—)
Repurchases of common stock	(7,829)	(7,620)	(4,000)	—)	—)	—)
Proceeds from employee stock plans	1,540)	1,954)	861)	1,289)	1,321)	840)
Principal payments on financing obligations	(603)	(629)	(419)	(156)	(103)	(173)
Repayments of debt	(1,000)	(1,182)	(4)	(4)	(4)	(503)
Payments of dividends	(1,537)	—)	—)	—)	—)	—)
Net cash provided by (used in) financing activities	(9,429)	(7,477)	(3,562)	7,838)	1,194)	164)
Effect of exchange rate changes	(124)	26)	(8)	(33)	26)	(39)
Net increase (decrease) in cash and cash equivalents	376)	1,456)	1,552)	(731)	2,050)	1,476)
Cash and cash equivalents, beginning of period	8,472)	7,016)	5,464)	6,195)	4,145)	2,669)
Cash and cash equivalents, end of period	8,848)	8,472)	7,016)	5,464)	6,195)	4,145)

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Salesforce Inc. net cash provided by operating activities increased from 2023 to 2024 and from 2024 to 2025.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Salesforce Inc. net cash used in investing activities increased from 2023 to 2024 but then decreased significantly from 2024 to 2025.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Salesforce Inc. net cash provided by (used in) financing activities decreased from 2023 to 2024 and from 2024 to 2025.

Salesforce Inc. (NYSE:CRM)

Cash Flow Statement