ITEM 6 SELECTED FINANCIAL DATA The following tables show Intuit’s selected financial information for the past five fiscal years.
The comparability of the information is affected by a variety of factors, including acquisitions and divestitures of businesses, issuance and repayment of long-term debt, share-based compensation expense, amortization of acquired technology and other acquired intangible assets, repurchases of common stock under our stock repurchase programs, and the payment of cash dividends.
In fiscal 2007 we issued $1 billion in senior notes and in fiscal 2012 we repaid $500 million of those notes when they became due using cash from operations.
In fiscal 2009 through fiscal 2013 we acquired several companies, including PayCycle, Inc. , Mint Software Inc. , and Demandforce, Inc.  We have included the results of operations for each of them in our consolidated results of operations from their respective dates of acquisition.
We sold our Intuit Real Estate Solutions business in fiscal 2010.
In fiscal 2013 we completed the sale of our Intuit Websites business and in August 2013 we completed the sales of our Intuit Financial Services and Intuit Health businesses.
We accounted for all of these businesses as discontinued operations and have therefore reclassified our statements of operations for all periods presented below to reflect them as such.
We have also reclassified our balance sheets for all periods presented below to reflect Intuit Financial Services as discontinued operations.
The net assets of Intuit Real Estate Solutions, Intuit Websites, and Intuit Health were not significant, so we have not reclassified our balance sheets for any period presented below to reflect them as discontinued operations.
To better understand the information in these tables, investors should read “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Item 7 of this Report, and the financial statements and related notes in Item 8 of this Report, especially Note 8, “Discontinued Operations.
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## Table 0 ##
requirements, contractual obligations, commitments, debt service requirements, and other liquidity requirements associated with our operations for at least the next 12 months.
We expect to return excess cash generated by operations to our stockholders through repurchases of our common stock and payment of cash dividends, after taking into account our operating and strategic cash needs.
Statements of Cash Flows The following table summarizes selected items from our statements of cash flows for fiscal 2013, fiscal 2012, and fiscal 2011.
See the financial statements in Item 8 of this Report for complete statements of cash flows for those periods.
## Table 1 ##
During fiscal 2013 we generated $1.4 billion in cash from operations.
We also received $165 million in cash from the issuance of common stock under employee stock plans and $60 million from the sale of our Intuit Websites business.
During the same period we used $292 million in cash for the repurchase of shares of our common stock under our stock repurchase programs, $203 million for the payment of cash dividends, $308 million for net purchases of investments, and $195 million for capital expenditures.
During fiscal 2012 we generated $1.2 billion in cash from operations.
We also received $349 million in cash from net sales of investments and $164 million from the issuance of common stock under employee stock plans.
During the same period we used $500 million in cash to repay senior notes that became due in March 2012, $392 million for the acquisition of businesses (primarily Demandforce), $900 million for the repurchase of shares of our common stock under our stock repurchase programs, $178 million for the payment of cash dividends, and $186 million for capital expenditures.
During fiscal 2011 we generated $1.0 billion in cash from operations.
We also received $697 million in cash from net sales of investments and $283 million from the issuance of common stock under employee stock plans.
During the same period we used $1.4 billion in cash for the repurchase of shares of our common stock under our stock repurchase programs and $213 million for capital expenditures.
Stock Repurchase Programs and Dividends on Common Stock As described in Note 12 to the financial statements in Item 8 of this Report, during fiscal 2013, 2012, and 2011 we continued to repurchase shares of our common stock under a series of repurchase programs that our Board of Directors has authorized.
At July 31, 2013, we had authorization from our Board of Directors to expend up to an additional $1.4 billion for stock repurchases through August 15, 2014.
On August 19, 2013 our Board approved a new stock repurchase program under which we are authorized to repurchase up to an additional $2 billion of our common stock from time to time over a four-year period ending on August 19, 2017.
On August 1, 2013, we sold our Intuit Financial Services business for approximately $1.025 billion in cash.
To facilitate the stock repurchase program described above, from time to time we repurchase shares in the open market.
On August 23, 2013 we entered into an accelerated share repurchase (ASR) agreement with a large financial institution to repurchase $1.4 billion of Intuit's common stock on an accelerated basis.
We entered into this ASR agreement in order to repurchase shares at a guaranteed discount from the average price of our stock over a specified period of time.
On August 23, 2013 we paid $1.4 billion to the financial institution and received an initial delivery of 17.6 million shares of Intuit common stock.
The total number of shares to be delivered generally will be determined by applying an agreed discount to the average of the daily volume weighted average price of Intuit common shares traded during the pricing period.
The pricing period is scheduled to end in December 2013, but it may conclude sooner at the election of the financial institution.
If the total number of shares to be delivered exceeds the number of shares delivered on August 23, 2013, we will receive the remaining balance of shares from the financial institution.
Based on the current trading prices of our common stock, we expect to receive additional shares.
If the
During the fourth quarter of fiscal 2011 we performed our annual goodwill impairment test in conjunction with our annual planning and budgeting process.
In step one of the test we compared the estimated fair values of each of our reporting units to their carrying values.
We used a weighted combination of a discounted cash flow model (income approach) and comparisons to publicly traded companies engaged in similar businesses (market approach) to estimate the fair value of each of our reporting units.
We determined that the estimated fair values of all of our reporting units except Intuit Health exceeded their carrying values and that they were not impaired.
The estimated fair value of our Intuit Health reporting unit, which at the time was part of our Other Businesses segment, fell below its carrying value of $75 million.
As a result, we completed step two of the test by allocating the fair value of that reporting unit calculated in step one of the test to all of the assets and liabilities of the unit, as if we had just acquired it in a business combination.
In comparing the residual goodwill resulting from this calculation to the carrying value of the goodwill, we determined that the goodwill and acquired intangible assets for our Intuit Health reporting unit were impaired.
All of the goodwill and acquired intangible assets associated with our Intuit Health reporting unit were derived from our fiscal 2010 acquisition of Medfusion, Inc.
Circumstances that negatively affected our estimate of the fair value of the Intuit Health reporting unit included unforeseen delays in developing high quality, timely offerings and marketing them effectively.
We recorded a goodwill and intangible asset impairment charge of approximately $30 million for our Intuit Health reporting unit in the fourth quarter of fiscal 2011.
This consisted of a goodwill impairment charge of approximately $24 million and an acquired intangible asset impairment charge of approximately $6 million.
In March 2013 the largest customer for our Intuit Health business acquired a company that offers similar solutions and competes with us directly in that market space.
As a result, we performed an interim impairment test of goodwill and acquired intangible assets during the third quarter of fiscal 2013.
We concluded that the carrying amounts of goodwill and certain definite-lived acquired intangible assets associated with our Intuit Health business were impaired and recorded an impairment charge of $46 million that reduced the carrying value of those assets to zero.
For goodwill, the amount of the impairment charge was determined by comparing the carrying value of goodwill assigned to the reporting unit with the implied fair value of the goodwill.
We used a weighted combination of a discounted cash flow model (income approach) and comparisons to publicly traded companies engaged in similar businesses (market approach) to estimate the fair value of our Intuit Health reporting unit.
Key assumptions that we used in the income approach included the amount and timing of estimated future cash flows to be generated by the business over an extended period of time, long-term growth rates for the business, and a rate of return that considered the relative risk of achieving the cash flows and the time value of money.
For the market approach, we estimated the fair value of the reporting unit based on market multiples of revenue, operating income, and earnings for comparable publicly traded companies engaged in similar businesses.
For those acquired intangible assets where the unamortized balances exceeded the undiscounted future net cash flows, we measured the amount of the impairment by calculating the amount by which the carrying values exceeded the estimated fair values, which were based on projected discounted future net cash flows.
We believe that the assumptions used to determine the impairment amounts for the goodwill and acquired intangible assets for this business unit are reasonable.
In the fourth quarter of fiscal 2013 management approved a plan to sell our Intuit Health business, which was part of our Other Businesses segment, and we accounted for it as discontinued operations starting in that quarter.
On August 19, 2013 we completed the sale for cash consideration that was not significant.3.
Cash and Cash Equivalents, Investments and Funds Held for Customers The following table summarizes our cash and cash equivalents, investments and funds held for customers by balance sheet classification at the dates indicated.
## Table 2 ##

<table><tr><td>Consolidated Statement of Operations Data</td><td colspan="5">Fiscal</td></tr><tr><td>(In millions, except per share amounts)</td><td>2013</td><td>2012</td><td>2011</td><td>2010</td><td>2009</td></tr><tr><td>Total net revenue</td><td>$4,171</td><td>$3,808</td><td>$3,449</td><td>$3,091</td><td>$2,793</td></tr><tr><td>Total costs and expenses</td><td>2,938</td><td>2,640</td><td>2,367</td><td>2,161</td><td>2,034</td></tr><tr><td>Operating income from continuing operations</td><td>1,233</td><td>1,168</td><td>1,082</td><td>930</td><td>759</td></tr><tr><td>Total share-based compensation expense included in total costs and expenses</td><td>184</td><td>159</td><td>144</td><td>126</td><td>120</td></tr><tr><td>Net income from continuing operations</td><td>823</td><td>764</td><td>688</td><td>579</td><td>492</td></tr><tr><td>Net income (loss) from discontinued operations</td><td>35</td><td>28</td><td>-54</td><td>-5</td><td>-45</td></tr><tr><td>Net income</td><td>858</td><td>792</td><td>634</td><td>574</td><td>447</td></tr><tr><td>Net income per common share:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic net income per share from continuing operations</td><td>$2.78</td><td>$2.58</td><td>$2.24</td><td>$1.83</td><td>$1.53</td></tr><tr><td>Basic net income (loss) per share from discontinued operations</td><td>0.11</td><td>0.09</td><td>-0.18</td><td>-0.01</td><td>-0.14</td></tr><tr><td>Basic net income per share</td><td>$2.89</td><td>$2.67</td><td>$2.06</td><td>$1.82</td><td>$1.39</td></tr><tr><td>Diluted net income per share from continuing operations</td><td>$2.72</td><td>$2.51</td><td>$2.17</td><td>$1.78</td><td>$1.49</td></tr><tr><td>Diluted net income(loss) per share from discontinued operations</td><td>0.11</td><td>0.09</td><td>-0.17</td><td>-0.01</td><td>-0.14</td></tr><tr><td>Diluted net income per share</td><td>$2.83</td><td>$2.60</td><td>$2.00</td><td>$1.77</td><td>$1.35</td></tr><tr><td>Dividends declared per common share</td><td>$0.68</td><td>$0.60</td><td>$—</td><td>$—</td><td>$—</td></tr></table>
<table><tr><td>(Dollars in millions)</td><td>Fiscal 2013</td><td>Fiscal 2012</td><td>Fiscal 2011</td></tr><tr><td>Net cash provided by (used in):</td><td></td><td></td><td></td></tr><tr><td>Operating activities</td><td>$1,366</td><td>$1,246</td><td>$1,013</td></tr><tr><td>Investing activities</td><td>-485</td><td>-225</td><td>497</td></tr><tr><td>Financing activities</td><td>-262</td><td>-1,344</td><td>-1,006</td></tr><tr><td>Effect of exchange rate changes on cash</td><td>-3</td><td>-6</td><td>4</td></tr><tr><td>Increase (decrease) in cash and cash equivalents</td><td>$616</td><td>$-329</td><td>$508</td></tr></table>
<table><tr><td></td><td colspan="2">July 31, 2013</td><td colspan="2">July 31, 2012</td></tr><tr><td>(In millions)</td><td>Amortized Cost</td><td>Fair Value</td><td>Amortized Cost</td><td>Fair Value</td></tr><tr><td>Classification on balance sheets:</td><td></td><td></td><td></td><td></td></tr><tr><td>Cash and cash equivalents</td><td>$1,009</td><td>$1,009</td><td>$393</td><td>$393</td></tr><tr><td>Investments</td><td>653</td><td>652</td><td>350</td><td>351</td></tr><tr><td>Funds held for customers</td><td>235</td><td>235</td><td>289</td><td>290</td></tr><tr><td>Long-term investments</td><td>54</td><td>83</td><td>47</td><td>75</td></tr><tr><td>Total cash and cash equivalents, investments and funds held for customers</td><td>$1,951</td><td>$1,979</td><td>$1,079</td><td>$1,109</td></tr></table>

Question: What is the average value of Total costs and expenses in Table 0 and Investing activities in Table 1 in 2011? (in million)
Answer: 1432