10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2010 | |||
Consolidated Statements of Income | |||
Period Ending Dec 3, 2010 10-K (Filed: Jan 27, 2011) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 3, 2010 | Nov 27, 2009 | Nov 28, 2008 | |
| Revenue: | |||
| Products | $ 3,159,161 | 2,684,789 | 3,354,554 |
| Subscription | 386,805 | 74,602 | 41,988 |
| Services and support | 254,034 | 186,462 | 183,347 |
| Total revenue | 3,800,000 | 2,945,853 | 3,579,889 |
| Cost of revenue: | |||
| Products | 127,453 | 180,611 | 243,180 |
| Subscription | 195,595 | 48,286 | 23,209 |
| Services and support | 80,454 | 67,835 | 96,241 |
| Total cost of revenue | 403,502 | 296,732 | 362,630 |
| Gross profit | 3,396,498 | 2,649,121 | 3,217,259 |
| Operating expenses: | |||
| Research and development | 680,332 | 565,141 | 662,057 |
| Sales and marketing | 1,244,197 | 981,903 | 1,089,341 |
| General and administrative | 383,499 | 298,749 | 337,291 |
| Restructuring charges | 23,266 | 41,260 | 32,053 |
| Amortization of purchased intangibles and incomplete technology | 72,130 | 71,555 | 68,246 |
| Total operating expenses | 2,403,424 | 1,958,608 | 2,188,988 |
| Operating income | 993,074 | 690,513 | 1,028,271 |
| Non-operating income (expense): | |||
| Interest and other income (expense), net | 13,139 | 31,380 | 43,847 |
| Interest expense | (56,952) | (3,407) | (10,019) |
| Investment gains (losses), net | (6,110) | (16,966) | 16,409 |
| Total non-operating income (expense), net | (49,923) | 11,007 | 50,237 |
| Income before income taxes | 943,151 | 701,520 | 1,078,508 |
| Provision for income taxes | 168,471 | 315,012 | 206,694 |
| Net income | 774,680 | 386,508 | 871,814 |
| Basic net income per share | 1.49 | 0.74 | 1.62 |
| Shares used to compute basic income per share | 519,045 | 524,470 | 539,373 |
| Diluted net income per share | 1.47 | 0.73 | 1.59 |
| Shares used to compute diluted net income per share | 525,824 | 530,610 | 548,553 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2010 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 3, 2010 10-K (Filed: Jan 27, 2011) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 3, 2010 | Nov 27, 2009 | Nov 28, 2008 | |
| Cash flows from operating activities: | |||
| Net income | $ 774,680 | 386,508 | 871,814 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 292,738 | 282,423 | 270,269 |
| Stock-based compensation | 231,086 | 167,581 | 172,474 |
| Deferred income taxes | (172,329) | 49,590 | 46,584 |
| Unrealized losses (gains) on investments | 11,517 | 11,623 | (17,377) |
| Tax benefit from employee stock option plans | 11,107 | 44,381 | 90,360 |
| Other non-cash items | 3,262 | 3,315 | 4,784 |
| Excess tax benefits from stock-based compensation | (16,430) | (11,980) | (31,983) |
| Changes in operating assets and liabilities, net of acquired assets and assumed liabilities: | |||
| Trade receivables, net | (134,276) | 172,287 | (153,386) |
| Prepaid expenses and other current assets | (39,963) | 21,814 | (5,584) |
| Trade payables | (10,092) | (13,601) | 14,078 |
| Accrued expenses | 127,814 | (52,179) | (13,904) |
| Accrued restructuring | (26,811) | (8,446) | 24,330 |
| Income taxes payable | (48,656) | 109,620 | (57,656) |
| Deferred revenue | 109,348 | (45,142) | 65,879 |
| Net cash provided by operating activities | 1,112,995 | 1,117,794 | 1,280,682 |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (2,600,787) | (1,307,366) | (2,381,533) |
| Maturities of short-term investments | 643,614 | 464,031 | 1,568,874 |
| Proceeds from sales of short-term investments | 1,134,365 | 1,057,176 | 717,076 |
| Purchases of property and equipment | (169,642) | (119,592) | (111,792) |
| Proceeds from sale of property and equipment | 32,151 | ||
| Acquisitions, net of cash acquired | (193,281) | (1,582,669) | (3,584) |
| Purchases of long-term investments and other assets | (28,216) | (29,143) | (124,469) |
| Proceeds from sale of long-term investments | 20,351 | 17,696 | 30,747 |
| Other | 2,151 | 2,771 | |
| Net cash used for investing activities | (1,159,294) | (1,497,096) | (304,681) |
| Cash flows from financing activities: | |||
| Purchases of treasury stock | (850,020) | (350,013) | (1,722,715) |
| Proceeds from issuance of treasury stock | 139,270 | 179,566 | 319,165 |
| Excess tax benefits from stock-based compensation | 16,430 | 11,980 | 31,983 |
| Proceeds from debt | 1,493,439 | 650,000 | 800,000 |
| Repayment of debt and capital lease obligations | (1,003,719) | (450,000) | |
| Repayment of acquired debt | (13,897) | ||
| Debt issuance costs | (10,662) | ||
| Net cash (used for) provided by financing activities | (215,262) | 477,636 | (1,021,567) |
| Effect of foreign currency exchange rates on cash and cash equivalents | 11,965 | 14,703 | (14,406) |
| Net (decrease) increase in cash and cash equivalents | (249,596) | 113,037 | (59,972) |
| Cash and cash equivalents at beginning of year | 999,487 | 886,450 | |
| Cash and cash equivalents at end of year | 749,891 | 999,487 | 886,450 |
| Supplemental disclosures: | |||
| Cash paid for income taxes, net of refunds | 389,114 | 105,158 | 126,299 |
| Cash paid for interest | 34,632 | 2,088 | 9,604 |
| Non-cash investing activities: | |||
| Issuance of common stock and stock awards assumed in business acquisitions | 3,264 | 84,968 | |
| Property and equipment acquired under capital leases | 32,151 | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ADOBE INC. | ||
Ticker: ADBE Fiscal Year: 2010 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 3, 2010 10-K (Filed: Jan 27, 2011) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 3, 2010 | Nov 27, 2009 | |
| Assets: | ||
| Current assets: | ||
| Cash and cash equivalents | $ 749,891 | 999,487 |
| Short-term investments | 1,718,124 | 904,986 |
| Trade receivables, net of allowances for doubtful accounts of $15,233 and $15,225, respectively | 554,328 | 410,879 |
| Deferred income taxes | 83,247 | 77,417 |
| Prepaid expenses and other current assets | 110,460 | 80,855 |
| Total current assets | 3,216,050 | 2,473,624 |
| Property and equipment, net | 448,881 | 388,132 |
| Goodwill | 3,641,844 | 3,494,589 |
| Purchased and other intangibles, net | 457,263 | 527,388 |
| Investment in lease receivable | 207,239 | 207,239 |
| Other assets | 169,871 | 191,265 |
| Total assets | 8,141,148 | 7,282,237 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Trade payables | 52,432 | 58,904 |
| Accrued expenses | 564,275 | 419,646 |
| Capital lease obligations, current | 8,799 | 0 |
| Accrued restructuring | 8,119 | 37,793 |
| Income taxes payable | 53,715 | 46,634 |
| Deferred revenue | 380,748 | 281,576 |
| Total current liabilities | 1,068,088 | 844,553 |
| Long-term liabilities: | ||
| Debt and capital lease obligations, non-current | 1,513,662 | 1,000,000 |
| Deferred revenue | 48,929 | 36,717 |
| Accrued restructuring | 8,254 | 6,921 |
| Income taxes payable | 164,713 | 223,528 |
| Deferred income taxes | 103,098 | 252,486 |
| Other liabilities | 42,017 | 27,464 |
| Total liabilities | 2,948,761 | 2,391,669 |
| Commitments and contingencies | ||
| 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; 501,897 and 522,657 shares outstanding, respectively | 61 | 61 |
| Additional paid-in-capital | 2,458,278 | 2,390,061 |
| Retained earnings | 5,980,914 | 5,299,914 |
| Accumulated other comprehensive income | 17,428 | 24,446 |
| Treasury stock, at cost (98,937 and 78,177 shares, respectively), net of re-issuances | (3,264,294) | (2,823,914) |
| Total stockholders' equity | 5,192,387 | 4,890,568 |
| Total liabilities and stockholders' equity | 8,141,148 | 7,282,237 |
| External Links | |
| ADOBE INC. (ADBE) Fiscal Year 2010 | |
| 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 |