10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
| ||||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2009 | |||
Consolidated Statements of Income | |||
Period Ending Nov 27, 2009 10-K (Filed: Jan 22, 2010) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 27, 2009 | Nov 28, 2008 | Nov 30, 2007 | |
| Revenue: | |||
| Products | $ 2,759,391 | 3,396,542 | 3,019,524 |
| Services and support | 186,462 | 183,347 | 138,357 |
| Total revenue | 2,945,853 | 3,579,889 | 3,157,881 |
| Cost of revenue: | |||
| Products | 228,897 | 266,389 | 270,818 |
| Services and support | 67,835 | 96,241 | 83,876 |
| Total cost of revenue | 296,732 | 362,630 | 354,694 |
| Gross profit | 2,649,121 | 3,217,259 | 2,803,187 |
| Operating expenses: | |||
| Research and development | 565,141 | 662,057 | 613,242 |
| Sales and marketing | 981,903 | 1,089,341 | 984,388 |
| General and administrative | 298,749 | 337,291 | 274,982 |
| Restructuring charges | 41,260 | 32,053 | 555 |
| Amortization of purchased intangibles and incomplete technology | 71,555 | 68,246 | 72,435 |
| Total operating expenses | 1,958,608 | 2,188,988 | 1,945,602 |
| Operating income | 690,513 | 1,028,271 | 857,585 |
| Non-operating income (expense): | |||
| Interest and other income, net | 31,380 | 43,847 | 82,724 |
| Interest expense | (3,407) | (10,019) | (253) |
| Investment gains (losses), net | (16,966) | 16,409 | 7,134 |
| Total non-operating income (expense), net | 11,007 | 50,237 | 89,605 |
| Income before income taxes | 701,520 | 1,078,508 | 947,190 |
| Provision for income taxes | 315,012 | 206,694 | 223,383 |
| Net income | 386,508 | 871,814 | 723,807 |
| Basic net income per share | 0.74 | 1.62 | 1.24 |
| Shares used in computing basic income per share | 524,470 | 539,373 | 584,203 |
| Diluted net income per share | 0.73 | 1.59 | 1.21 |
| Shares used in computing diluted income per share | 530,610 | 548,553 | 598,775 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2009 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Nov 27, 2009 10-K (Filed: Jan 22, 2010) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 27, 2009 | Nov 28, 2008 | Nov 30, 2007 | |
| Cash flows from operating activities: | |||
| Net income | $ 386,508 | 871,814 | 723,807 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 282,423 | 270,269 | 315,464 |
| Stock-based compensation | 167,581 | 172,474 | 149,987 |
| Deferred income taxes | 49,590 | 46,584 | 58,385 |
| Unrealized losses (gains) on investments | 11,623 | (17,377) | (6,776) |
| Tax benefit from employee stock option plans | 44,381 | 90,360 | 55,074 |
| Other non-cash items | 4,434 | 4,784 | (176) |
| Excess tax benefits from stock-based compensation | (11,980) | (31,983) | (85,050) |
| Changes in operating assets and liabilities, net of acquired assets and assumed liabilities: | |||
| Trade receivables, net | 172,287 | (153,386) | 46,332 |
| Prepaid expenses and other current assets | 21,814 | (5,584) | 6,418 |
| Trade payables | (13,601) | 14,078 | 3,518 |
| Accrued expenses | (53,320) | (13,904) | 83,281 |
| Accrued restructuring | (8,446) | 24,330 | (13,796) |
| Income taxes payable | 109,620 | (57,656) | 61,448 |
| Deferred revenue | (45,142) | 65,879 | 43,137 |
| Net cash provided by operating activities | 1,117,772 | 1,280,682 | 1,441,053 |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (1,307,366) | (2,381,533) | (2,503,147) |
| Maturities of short-term investments | 464,031 | 1,568,874 | 516,839 |
| Proceeds from sales of short-term investments | 1,057,176 | 717,076 | 2,457,347 |
| Purchases of property and equipment | (119,592) | (111,792) | (132,075) |
| Acquisitions, net of cash acquired | (1,582,669) | (3,584) | (75,528) |
| Purchases of long-term investments and other assets | (29,143) | (124,469) | (111,939) |
| Investment in lease receivable | 0 | 0 | (80,439) |
| Issuance costs for credit facility | 0 | 0 | (856) |
| Proceeds from sale of long-term investments | 17,696 | 30,747 | 11,342 |
| Other | 2,771 | 0 | 0 |
| Net cash (used for) provided by investing activities | (1,497,096) | (304,681) | 81,544 |
| Cash flows from financing activities: | |||
| Purchases of treasury stock | (350,013) | (1,722,715) | (1,951,527) |
| Proceeds from issuance of treasury stock | 179,566 | 319,165 | 516,087 |
| Excess tax benefits from stock-based compensation | 11,980 | 31,983 | 85,050 |
| Proceeds from borrowings on credit facility | 650,000 | 800,000 | 0 |
| Repayments of borrowings on credit facility | 0 | (450,000) | 0 |
| Repayments of acquired debt | (13,875) | 0 | 0 |
| Net cash provided by (used for) financing activities | 477,658 | (1,021,567) | (1,350,390) |
| Effect of foreign currency exchange rates on cash and cash equivalents | 14,703 | (14,406) | 1,715 |
| Net increase (decrease) in cash and cash equivalents | 113,037 | (59,972) | 173,922 |
| Cash and cash equivalents at beginning of year | 886,450 | 946,422 | |
| Cash and cash equivalents at end of year | 999,487 | 886,450 | 946,422 |
| Supplemental disclosures: | |||
| Cash paid for income taxes, net of refunds | 105,158 | 126,299 | 55,236 |
| Cash paid for interest | 2,088 | 9,604 | 0 |
| Non-cash investing activities: | |||
| Issuance of common stock and stock awards assumed in business acquisitions | 84,968 | 0 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ADOBE INC. | ||
Ticker: ADBE Fiscal Year: 2009 | ||
Consolidated Balance Sheets | ||
Period Ending Nov 27, 2009 10-K (Filed: Jan 22, 2010) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Nov 27, 2009 | Nov 28, 2008 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 999,487 | 886,450 |
| Short-term investments | 904,986 | 1,132,752 |
| Trade receivables, net of allowances for doubtful accounts of $15,225 and $4,128, respectively | 410,879 | 467,234 |
| Deferred income taxes | 77,417 | 110,713 |
| Prepaid expenses and other current assets | 80,855 | 137,954 |
| Total current assets | 2,473,624 | 2,735,103 |
| Property and equipment, net | 388,132 | 313,037 |
| Goodwill | 3,494,589 | 2,134,730 |
| Purchased and other intangibles, net | 527,388 | 214,960 |
| Investment in lease receivable | 207,239 | 207,239 |
| Other assets | 191,265 | 216,529 |
| Total assets | 7,282,237 | 5,821,598 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Trade payables | 58,904 | 55,840 |
| Accrued expenses | 419,646 | 399,969 |
| Accrued restructuring | 37,793 | 35,690 |
| Income taxes payable | 46,634 | 27,136 |
| Deferred revenue | 281,576 | 243,964 |
| Total current liabilities | 844,553 | 762,599 |
| Long-term liabilities: | ||
| Debt | 1,000,000 | 350,000 |
| Deferred revenue | 36,717 | 31,356 |
| Accrued restructuring | 6,921 | 6,214 |
| Income taxes payable | 223,528 | 123,182 |
| Deferred income taxes | 252,486 | 117,328 |
| Other liabilities | 27,464 | 20,565 |
| Total liabilities | 2,391,669 | 1,411,244 |
| Stockholders' equity: | ||
| Preferred stock, $0.0001 par value; 2,000 shares authorized; none issued | 0 | 0 |
| Common stock, $0.0001 par value; 900,000 shares authorized; 600,834 shares issued; 522,657 and 526,111 shares outstanding, respectively | 61 | 61 |
| Additional paid-in-capital | 2,390,061 | 2,396,819 |
| Retained earnings | 5,299,914 | 4,913,406 |
| Accumulated other comprehensive income | 24,446 | 57,222 |
| Treasury stock, at cost (78,177 and 74,723 shares, respectively), net of re-issuances | (2,823,914) | (2,957,154) |
| Total stockholders' equity | 4,890,568 | 4,410,354 |
| Total liabilities and stockholders' equity | 7,282,237 | 5,821,598 |
| External Links | |
| ADOBE INC. (ADBE) Fiscal Year 2009 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |