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: 2012 | |||
Consolidated Statements of Income | |||
Period Ending Nov 30, 2012 10-K (Filed: Jan 22, 2013) | |||
(In Thousands) | |||
12 Months Ended | 12 Months Ended | 12 Months Ended | |
Nov 30, 2012 | Dec 2, 2011 | Dec 3, 2010 | |
Revenue: | |||
Products | $ 3,342,843 | 3,416,483 | 3,159,161 |
Subscription | 673,206 | 458,634 | 386,805 |
Services and support | 387,628 | 341,141 | 254,034 |
Total revenue | 4,403,677 | 4,216,258 | 3,800,000 |
Cost of revenue: | |||
Products | 121,663 | 125,640 | 127,453 |
Subscription | 219,102 | 194,033 | 195,595 |
Services and support | 143,017 | 118,200 | 80,454 |
Total cost of revenue | 483,782 | 437,873 | 403,502 |
Gross profit | 3,919,895 | 3,778,385 | 3,396,498 |
Operating expenses: | |||
Research and development | 742,823 | 738,053 | 680,332 |
Sales and marketing | 1,516,159 | 1,385,822 | 1,244,197 |
General and administrative | 434,982 | 414,605 | 383,499 |
Restructuring and other related charges (credits) | (2,917) | 97,773 | 23,266 |
Amortization of purchased intangibles | 48,657 | 42,833 | 72,130 |
Total operating expenses | 2,739,704 | 2,679,086 | 2,403,424 |
Operating income | 1,180,191 | 1,099,299 | 993,074 |
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), net | 9,504 | 5,857 | (6,110) |
Total non-operating income (expense), net | (61,397) | (64,069) | (49,923) |
Income before income taxes | 1,118,794 | 1,035,230 | 943,151 |
Provision for income taxes | 286,019 | 202,383 | 168,471 |
Net income | 832,775 | 832,847 | 774,680 |
Basic net income per share | 1.68 | 1.67 | 1.49 |
Shares used to compute basic net income per share | 494,731 | 497,469 | 519,045 |
Diluted net income per share | 1.66 | 1.65 | 1.47 |
Shares used to compute diluted net income per share | 502,721 | 503,921 | 525,824 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
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 Ended | 12 Months Ended | 12 Months Ended | |
Nov 30, 2012 | Dec 2, 2011 | Dec 3, 2010 | |
Cash flows from operating activities: | |||
Net income | $ 832,775 | 832,847 | 774,680 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, amortization and accretion | 299,766 | 270,205 | 292,738 |
Stock-based compensation | 298,502 | 286,103 | 231,086 |
Deferred income taxes | 89,212 | 51,415 | (172,329) |
Unrealized (gains) losses on investments | (8,535) | (4,349) | 11,517 |
Retirements and disposals of property and equipment | 1,113 | 14,772 | 674 |
Other non-cash items | (13,658) | 24,560 | 13,695 |
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, net | 45,166 | (81,065) | (134,276) |
Prepaid expenses and other current assets | 4,552 | (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 payable | 10,041 | (16,661) | (48,656) |
Deferred revenue | 87,340 | 101,109 | 109,348 |
Net cash provided by operating activities | 1,499,580 | 1,543,314 | 1,112,995 |
Cash flows from investing activities: | |||
Purchases of short-term investments | (1,776,485) | (1,861,075) | (2,600,787) |
Maturities of short-term investments | 439,878 | 486,050 | 643,614 |
Proceeds from sales of short-term investments | 1,126,886 | 1,148,148 | 1,134,365 |
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 equipment | 0 | 0 | 32,151 |
Purchases of long-term investments, intangibles and other assets | (29,701) | (65,600) | (28,216) |
Proceeds from sale of long-term investments | 29,031 | 4,415 | 22,502 |
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 stock | 169,274 | 144,754 | 139,270 |
Excess tax benefits from stock-based compensation | 10,003 | 9,949 | 16,430 |
Proceeds from Long-term Debt and Long-term Capital Lease obligations | 3,152 | 0 | 1,493,439 |
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 equivalents | 5,357 | 4,055 | 11,965 |
Net increase (decrease) in cash and cash equivalents | 435,552 | 239,609 | (249,596) |
Cash and cash equivalents at beginning of year | 989,500 | 749,891 | |
Cash and cash equivalents at end of year | 1,425,052 | 989,500 | 749,891 |
Supplemental disclosures: | |||
Cash paid for income taxes, net of refunds | 201,125 | 158,373 | 389,114 |
Cash paid for interest | 66,265 | 63,967 | 34,632 |
Non-cash investing activities: | |||
Issuance of common stock and stock awards assumed in business acquisitions | 4,265 | 0 | 3,264 |
Property and equipment acquired under capital leases | 0 | 0 | 32,151 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
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 of | As of | |
Nov 30, 2012 | Dec 2, 2011 | |
Assets: | ||
Current assets: | ||
Cash and cash equivalents | $ 1,425,052 | 989,500 |
Short-term investments | 2,113,301 | 1,922,192 |
Trade receivables, net of allowances for doubtful accounts of $12,643 and $15,080, respectively | 617,233 | 634,373 |
Deferred income taxes | 59,537 | 91,963 |
Prepaid expenses and other current assets | 116,237 | 133,423 |
Total current assets | 4,331,360 | 3,771,451 |
Property and equipment, net | 664,302 | 527,828 |
Goodwill | 4,133,259 | 3,849,217 |
Purchased and other intangibles, net | 545,036 | 545,526 |
Investment in lease receivable | 207,239 | 207,239 |
Other assets | 93,327 | 89,922 |
Total assets | 9,974,523 | 8,991,183 |
Liabilities and Stockholders' Equity | ||
Current liabilities: | ||
Trade payables | 49,759 | 86,660 |
Accrued expenses | 590,140 | 554,941 |
Capital lease obligations | 11,217 | 9,212 |
Accrued restructuring | 9,287 | 80,930 |
Income taxes payable | 49,886 | 42,634 |
Deferred revenue | 561,463 | 476,402 |
Total current liabilities | 1,271,752 | 1,250,779 |
Long-term liabilities: | ||
Debt and capital lease obligations | 1,496,938 | 1,505,096 |
Deferred revenue | 58,102 | 55,303 |
Accrued restructuring | 12,263 | 7,449 |
Income taxes payable | 155,096 | 156,958 |
Deferred income taxes | 265,106 | 181,602 |
Other liabilities | 50,084 | 50,883 |
Total liabilities | 3,309,341 | 3,208,070 |
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; 494,132 and 491,540 shares outstanding, respectively | 61 | 61 |
Additional paid-in-capital | 3,038,665 | 2,753,896 |
Retained earnings | 7,003,003 | 6,528,735 |
Accumulated other comprehensive income | 30,712 | 29,950 |
Treasury stock, at cost (106,702 and 109,294 shares, respectively), net of reissuances | (3,407,259) | (3,529,529) |
Total stockholders' equity | 6,665,182 | 5,783,113 |
Total liabilities and stockholders' equity | 9,974,523 | 8,991,183 |
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 |