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: 2012

Consolidated Statements of Income

Period Ending Nov 30, 2012 10-K (Filed: Jan 22, 2013)

(In Thousands)
 12 Months Ended12 Months Ended12 Months Ended
 Nov 30, 2012Dec 2, 2011Dec 3, 2010
Revenue:
Products
$
3,342,843
3,416,4833,159,161
Subscription673,206458,634386,805
Services and support387,628341,141254,034
Total revenue4,403,6774,216,2583,800,000
 
Cost of revenue:
Products121,663125,640127,453
Subscription219,102194,033195,595
Services and support143,017118,20080,454
Total cost of revenue483,782437,873403,502
 
Gross profit3,919,8953,778,3853,396,498
 
Operating expenses:
Research and development742,823738,053680,332
Sales and marketing1,516,1591,385,8221,244,197
General and administrative434,982414,605383,499
Restructuring and other related charges (credits)(2,917)97,77323,266
Amortization of purchased intangibles48,65742,83372,130
Total operating expenses2,739,7042,679,0862,403,424
 
Operating income1,180,1911,099,299993,074
 
Non-operating income (expense):
Interest and other income (expense), net(3,414)(2,974)13,139
Interest expense(67,487)(66,952)(56,952)
Investment gains (losses), net9,5045,857(6,110)
Total non-operating income (expense), net(61,397)(64,069)(49,923)
 
Income before income taxes1,118,7941,035,230943,151
 
Provision for income taxes286,019202,383168,471
Net income832,775832,847774,680
 
Basic net income per share1.681.671.49
Shares used to compute basic net income per share494,731497,469519,045
Diluted net income per share1.661.651.47
Shares used to compute diluted net income per share502,721503,921525,824
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ADOBE INC.

Ticker: ADBE   Fiscal Year: 2012

Consolidated Statements of Cash Flows

Period Ending Nov 30, 2012 10-K (Filed: Jan 22, 2013)

(In Thousands, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Nov 30, 2012Dec 2, 2011Dec 3, 2010
Cash flows from operating activities:
Net income
$
832,775
832,847774,680
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion299,766270,205292,738
Stock-based compensation298,502286,103231,086
Deferred income taxes89,21251,415(172,329)
Unrealized (gains) losses on investments(8,535)(4,349)11,517
Retirements and disposals of property and equipment1,11314,772674
Other non-cash items(13,658)24,56013,695
Excess tax benefits from stock-based compensation(10,003)(9,949)(16,430)
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities:
Trade receivables, net45,166(81,065)(134,276)
Prepaid expenses and other current assets4,552(5,100)(39,963)
Trade payables(62,874)32,203(10,092)
Accrued expenses(7,770)(24,708)127,814
Accrued restructuring(66,047)71,932(26,811)
Income taxes payable10,041(16,661)(48,656)
Deferred revenue87,340101,109109,348
Net cash provided by operating activities1,499,5801,543,3141,112,995
 
Cash flows from investing activities:
Purchases of short-term investments(1,776,485)(1,861,075)(2,600,787)
Maturities of short-term investments439,878486,050643,614
Proceeds from sales of short-term investments1,126,8861,148,1481,134,365
Business acquisitions, net of cash acquired(353,195)(259,046)(193,281)
Purchases of property and equipment(271,076)(210,294)(169,642)
Proceeds from sale of property and equipment0032,151
Purchases of long-term investments, intangibles and other assets(29,701)(65,600)(28,216)
Proceeds from sale of long-term investments29,0314,41522,502
Net cash used for investing activities(834,662)(757,402)(1,159,294)
 
Cash flows from financing activities:
Purchases of treasury stock(405,000)(695,015)(850,020)
Net proceeds from issuance of treasury stock169,274144,754139,270
Excess tax benefits from stock-based compensation10,0039,94916,430
Proceeds from Long-term Debt and Long-term Capital Lease obligations3,15201,493,439
Repayment of debt and capital lease obligations(9,855)(10,046)(1,003,719)
Debt issuance costs(2,297)0(10,662)
Net cash used for financing activities(234,723)(550,358)(215,262)
 
Effect of foreign currency exchange rates on cash and cash equivalents5,3574,05511,965
Net increase (decrease) in cash and cash equivalents435,552239,609(249,596)
 
Cash and cash equivalents at beginning of year989,500749,891
Cash and cash equivalents at end of year1,425,052989,500749,891
 
Supplemental disclosures:
Cash paid for income taxes, net of refunds201,125158,373389,114
Cash paid for interest66,26563,96734,632
Non-cash investing activities:
Issuance of common stock and stock awards assumed in business acquisitions4,26503,264
Property and equipment acquired under capital leases0032,151
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ADOBE INC.

Ticker: ADBE   Fiscal Year: 2012

Consolidated Balance Sheets

Period Ending Nov 30, 2012 10-K (Filed: Jan 22, 2013)

(In Thousands, except shares in actual)
 As ofAs of
 Nov 30, 2012Dec 2, 2011
Assets:
Current assets:
Cash and cash equivalents
$
1,425,052
989,500
Short-term investments2,113,3011,922,192
Trade receivables, net of allowances for doubtful accounts of $12,643 and $15,080, respectively617,233634,373
Deferred income taxes59,53791,963
Prepaid expenses and other current assets116,237133,423
Total current assets4,331,3603,771,451
 
Property and equipment, net664,302527,828
Goodwill4,133,2593,849,217
Purchased and other intangibles, net545,036545,526
Investment in lease receivable207,239207,239
Other assets93,32789,922
Total assets9,974,5238,991,183
 
Liabilities and Stockholders' Equity
Current liabilities:
Trade payables49,75986,660
Accrued expenses590,140554,941
Capital lease obligations11,2179,212
Accrued restructuring9,28780,930
Income taxes payable49,88642,634
Deferred revenue561,463476,402
Total current liabilities1,271,7521,250,779
 
Long-term liabilities:
Debt and capital lease obligations1,496,9381,505,096
Deferred revenue58,10255,303
Accrued restructuring12,2637,449
Income taxes payable155,096156,958
Deferred income taxes265,106181,602
Other liabilities50,08450,883
Total liabilities3,309,3413,208,070
 
Commitments and contingencies  
Stockholders' equity:
Preferred stock, $0.0001 par value; 2,000 shares authorized; none issued00
Common stock, $0.0001 par value; 900,000 shares authorized; 600,834 shares issued; 494,132 and 491,540 shares outstanding, respectively6161
Additional paid-in-capital3,038,6652,753,896
Retained earnings7,003,0036,528,735
Accumulated other comprehensive income30,71229,950
Treasury stock, at cost (106,702 and 109,294 shares, respectively), net of reissuances(3,407,259)(3,529,529)
Total stockholders' equity6,665,1825,783,113
 
Total liabilities and stockholders' equity9,974,5238,991,183
 
External Links 
ADOBE INC. (ADBE) Fiscal Year 2012
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