Microsoft_2000 Annual Report Notes to Financial Statements

Financial Review

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Notes to Financial Statements continued (in millions)

Cash and Short-Term Investments


June 30				1999		2000


Cash and equivalents:

	Cash			$ 635		$ 849

	Commercial paper			3,805		1,986

	Certificates of deposit			522		1,017

	U.S. government and agency securities			—		729

	Corporate notes and bonds			—		265

	Money market preferreds			13		—

		Cash and equivalents		4,975		4,846

Short-term investments:

	Commercial paper			1,026		612

	U.S. government and agency securities			3,592		7,104

	Corporate notes and bonds			6,996		9,473

	Municipal securities			247		1,113

	Certificates of deposit			400		650

		Short-term investments		12,261		18,952

			Cash and short-term investments	$ 17,236		$ 23,798



Property and Equipment


June 30				1999		2000


Land				$ 158		$ 176

Buildings				1,347		1,387

Computer equipment and software				1,433		1,909

Other				578		842

	Property and equipment — at cost			3,516		4,314

Accumulated depreciation				(1,905	)	(2,411	)

		Property and equipment — net		$ 1,611		$ 1,903

During 1998, 1999, and 2000, depreciation expense, of which the majority related to computer equipment, was $528 million, $483 million, and $668 million; disposals were not material.

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