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: 2013 | |||
Consolidated Statements of Income | |||
Period Ending Nov 29, 2013 10-K (Filed: Jan 21, 2014) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 29, 2013 | Nov 30, 2012 | Dec 2, 2011 | |
| Revenue: | |||
| Products | $ 2,470,098 | 3,342,843 | 3,416,483 |
| Subscription | 1,137,856 | 673,206 | 458,634 |
| Services and support | 447,286 | 387,628 | 341,141 |
| Total revenue | 4,055,240 | 4,403,677 | 4,216,258 |
| Cost of revenue: | |||
| Products | 138,154 | 121,663 | 125,640 |
| Subscription | 278,077 | 219,102 | 194,033 |
| Services and support | 170,326 | 143,017 | 118,200 |
| Total cost of revenue | 586,557 | 483,782 | 437,873 |
| Gross profit | 3,468,683 | 3,919,895 | 3,778,385 |
| Operating expenses: | |||
| Research and development | 826,631 | 742,823 | 738,053 |
| Sales and marketing | 1,620,454 | 1,516,159 | 1,385,822 |
| General and administrative | 520,124 | 434,982 | 414,605 |
| Restructuring and other related charges (credits) | 26,497 | (2,917) | 97,773 |
| Amortization of purchased intangibles | 52,254 | 48,657 | 42,833 |
| Total operating expenses | 3,045,960 | 2,739,704 | 2,679,086 |
| Operating income | 422,723 | 1,180,191 | 1,099,299 |
| Non-operating income (expense): | |||
| Interest and other income (expense), net | 4,941 | (3,414) | (2,974) |
| Interest expense | (67,508) | (67,487) | (66,952) |
| Investment gains (losses), net | (4,015) | 9,504 | 5,857 |
| Total non-operating income (expense), net | (66,582) | (61,397) | (64,069) |
| Income before income taxes | 356,141 | 1,118,794 | 1,035,230 |
| Provision for income taxes | 66,156 | 286,019 | 202,383 |
| Net income | 289,985 | 832,775 | 832,847 |
| Basic net income per share | 0.58 | 1.68 | 1.67 |
| Shares used to compute basic net income per share | 501,372 | 494,731 | 497,469 |
| Diluted net income per share | 0.56 | 1.66 | 1.65 |
| Shares used to compute diluted net income per share | 513,476 | 502,721 | 503,921 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2013 | |||
Consolidated Statements of Comprehensive Income Statement | |||
Period Ending Nov 29, 2013 10-K (Filed: Jan 21, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 29, 2013 | Nov 30, 2012 | Dec 2, 2011 | |
| Net income | $ 289,985 | 832,775 | 832,847 |
| Other Comprehensive Income (Loss): | |||
| Available-for-sale Securities: | |||
| Unrealized gains / losses on available-for-sale securities | (2,185) | 11,297 | (1,795) |
| Reclassification adjustment for gains / losses on available-for-sale securities recognized during the period | (3,013) | (2,874) | (1,834) |
| Net increase (decrease) from available-for-sale securities | (5,198) | 8,423 | (3,629) |
| Derivatives Qualifying as Hedging Instruments: | |||
| Unrealized gains / losses on derivative instruments | 34,677 | 23,922 | 16,952 |
| Reclassification adjustment for gains / losses on derivative instruments recognized during the period | (35,914) | (30,672) | (3,749) |
| Net increase (decrease) from derivatives desinated as hedging instruments | (1,237) | (6,750) | 13,203 |
| Foreign currency translation adjustments | 21,826 | (911) | 2,948 |
| Other comprehensive income, net of taxes | 15,391 | 762 | 12,522 |
| Total Comprehensive Income, Net of Taxes | 305,376 | 833,537 | 845,369 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Nov 29, 2013 10-K (Filed: Jan 21, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 29, 2013 | Nov 30, 2012 | Dec 2, 2011 | |
| Cash flows from operating activities: | |||
| Net income | $ 289,985 | 832,775 | 832,847 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 321,227 | 299,766 | 270,205 |
| Stock-based compensation | 328,987 | 298,502 | 286,103 |
| Write-down of assets held for sale, net of gains on sale | 23,151 | 0 | 0 |
| Deferred income taxes | 29,704 | 89,212 | 51,415 |
| Unrealized (gains) losses on investments | 5,665 | (8,535) | (4,349) |
| Retirements and disposals of property and equipment | 2,759 | 1,113 | 14,772 |
| Other non-cash items | 28,185 | (13,658) | 24,560 |
| Excess tax benefits from stock-based compensation | (40,619) | (10,003) | (9,949) |
| Changes in operating assets and liabilities, net of acquired assets and assumed liabilities: | |||
| Trade receivables, net | 33,649 | 45,166 | (81,065) |
| Prepaid expenses and other current assets | (55,509) | 4,552 | (5,100) |
| Trade payables | 7,132 | (62,874) | 32,203 |
| Accrued expenses | 41,828 | (7,770) | (24,708) |
| Accrued restructuring | (6,949) | (66,047) | 71,932 |
| Income taxes payable | (58,875) | 10,041 | (16,661) |
| Deferred revenue | 201,366 | 87,340 | 101,109 |
| Net cash provided by operating activities | 1,151,686 | 1,499,580 | 1,543,314 |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (2,058,058) | (1,776,485) | (1,861,075) |
| Maturities of short-term investments | 360,485 | 439,878 | 486,050 |
| Proceeds from sales of short-term investments | 1,449,961 | 1,126,886 | 1,148,148 |
| Business acquisitions, net of cash acquired | (704,589) | (353,195) | (259,046) |
| Purchases of property and equipment | (188,358) | (271,076) | (210,294) |
| Proceeds from sale of property and equipment | 24,260 | 0 | 0 |
| Purchases of long-term investments, intangibles and other assets | (67,737) | (29,701) | (65,600) |
| Proceeds from sale of long-term investments | 6,233 | 29,031 | 4,415 |
| Net cash used for investing activities | (1,177,803) | (834,662) | (757,402) |
| Cash flows from financing activities: | |||
| Purchases of treasury stock | (1,100,000) | (405,000) | (695,015) |
| Net proceeds from issuance of treasury stock | 500,776 | 169,274 | 144,754 |
| Excess tax benefits from stock-based compensation | 40,619 | 10,003 | 9,949 |
| Proceeds from long-term debt and capital lease obligations | 25,703 | 3,152 | 0 |
| Repayment of debt and capital lease obligations | (25,879) | (9,855) | (10,046) |
| Debt issuance costs | (357) | (2,297) | 0 |
| Net cash used for financing activities | (559,138) | (234,723) | (550,358) |
| Effect of foreign currency exchange rates on cash and cash equivalents | (5,241) | 5,357 | 4,055 |
| Net increase (decrease) in cash and cash equivalents | (590,496) | 435,552 | 239,609 |
| Cash and cash equivalents at beginning of year | 1,425,052 | 989,500 | |
| Cash and cash equivalents at end of year | 834,556 | 1,425,052 | 989,500 |
| Supplemental disclosures: | |||
| Cash paid for income taxes, net of refunds | 129,701 | 201,125 | 158,373 |
| Cash paid for interest | 64,843 | 66,265 | 63,967 |
| Non-cash investing activities: | |||
| Issuance of common stock and stock awards assumed in business acquisitions | 1,160 | 4,265 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ADOBE INC. | ||
Ticker: ADBE Fiscal Year: 2013 | ||
Consolidated Balance Sheets | ||
Period Ending Nov 29, 2013 10-K (Filed: Jan 21, 2014) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Nov 29, 2013 | Nov 30, 2012 | |
| Assets: | ||
| Current assets: | ||
| Cash and cash equivalents | $ 834,556 | 1,425,052 |
| Short-term investments | 2,339,196 | 2,113,301 |
| Trade receivables, net of allowances for doubtful accounts of $10,228 and $12,643, respectively | 599,820 | 617,233 |
| Deferred income taxes | 102,247 | 125,243 |
| Prepaid expenses and other current assets | 170,110 | 116,237 |
| Total current assets | 4,045,929 | 4,397,066 |
| Property and equipment, net | 659,774 | 664,302 |
| Goodwill | 4,771,981 | 4,133,259 |
| Purchased and other intangibles, net | 605,254 | 545,036 |
| Investment in lease receivable | 207,239 | 207,239 |
| Other assets | 90,121 | 93,327 |
| Total assets | 10,380,298 | 10,040,229 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Trade payables | 62,096 | 49,759 |
| Accrued expenses | 656,939 | 590,140 |
| Capital lease obligations | 14,676 | 11,217 |
| Accrued restructuring | 6,171 | 9,287 |
| Income taxes payable | 10,222 | 49,886 |
| Deferred revenue | 775,544 | 561,463 |
| Total current liabilities | 1,525,648 | 1,271,752 |
| Long-term liabilities: | ||
| Debt and capital lease obligations | 1,499,297 | 1,496,938 |
| Deferred revenue | 53,268 | 58,102 |
| Accrued restructuring | 7,717 | 12,263 |
| Income taxes payable | 132,545 | 155,096 |
| Deferred income taxes | 375,634 | 330,812 |
| Other liabilities | 61,555 | 50,084 |
| Total liabilities | 3,655,664 | 3,375,047 |
| 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; 496,261 and 494,132 shares outstanding, respectively | 61 | 61 |
| Additional paid-in-capital | 3,392,696 | 3,038,665 |
| Retained earnings | 6,928,964 | 7,003,003 |
| Accumulated other comprehensive income | 46,103 | 30,712 |
| Treasury stock, at cost (104,573 and 106,702 shares, respectively), net of reissuances | (3,643,190) | (3,407,259) |
| Total stockholders' equity | 6,724,634 | 6,665,182 |
| Total liabilities and stockholders' equity | 10,380,298 | 10,040,229 |
| External Links | |
| ADOBE INC. (ADBE) Fiscal Year 2013 | |
| 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 |