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: 2014 | |||
Consolidated Statements of Income | |||
Period Ending Nov 28, 2014 10-K (Filed: Jan 20, 2015) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 28, 2014 | Nov 29, 2013 | Nov 30, 2012 | |
| Revenue: | |||
| Products | $ 1,627,803 | 2,470,098 | 3,342,843 |
| Subscription | 2,076,584 | 1,137,856 | 673,206 |
| Services and support | 442,678 | 447,286 | 387,628 |
| Total revenue | 4,147,065 | 4,055,240 | 4,403,677 |
| Cost of revenue: | |||
| Products | 97,099 | 138,154 | 121,663 |
| Subscription | 335,432 | 278,077 | 219,102 |
| Services and support | 189,549 | 170,326 | 143,017 |
| Total cost of revenue | 622,080 | 586,557 | 483,782 |
| Gross profit | 3,524,985 | 3,468,683 | 3,919,895 |
| Operating expenses: | |||
| Research and development | 844,353 | 826,631 | 742,823 |
| Sales and marketing | 1,652,308 | 1,620,454 | 1,516,159 |
| General and administrative | 543,332 | 520,124 | 434,982 |
| Restructuring and other charges | 19,883 | 26,497 | (2,917) |
| Amortization of purchased intangibles | 52,424 | 52,254 | 48,657 |
| Total operating expenses | 3,112,300 | 3,045,960 | 2,739,704 |
| Operating income | 412,685 | 422,723 | 1,180,191 |
| Non-operating income (expense): | |||
| Interest and other income (expense), net | 7,267 | 4,941 | (3,414) |
| Interest expense | (59,732) | (67,508) | (67,487) |
| Investment gains (losses), net | 1,156 | (4,015) | 9,504 |
| Total non-operating income (expense), net | (51,309) | (66,582) | (61,397) |
| Income before income taxes | 361,376 | 356,141 | 1,118,794 |
| Provision for income taxes | 92,981 | 66,156 | 286,019 |
| Net income | 268,395 | 289,985 | 832,775 |
| Basic net income per share | 0.54 | 0.58 | 1.68 |
| Shares used to compute basic net income per share | 497,867 | 501,372 | 494,731 |
| Diluted net income per share | 0.53 | 0.56 | 1.66 |
| Shares used to compute diluted net income per share | 508,480 | 513,476 | 502,721 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2014 | |||
Consolidated Statements of Comprehensive Income Statement | |||
Period Ending Nov 28, 2014 10-K (Filed: Jan 20, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 28, 2014 | Nov 29, 2013 | Nov 30, 2012 | |
| Net income | $ 268,395 | 289,985 | 832,775 |
| Other Comprehensive Income (Loss): | |||
| Available-for-sale Securities: | |||
| Unrealized gains / losses on available-for-sale securities | 2,315 | (2,185) | 11,297 |
| Reclassification adjustment for gains / losses on available-for-sale securities recognized | (3,928) | (3,013) | (2,874) |
| Net increase (decrease) from available-for-sale securities | (1,613) | (5,198) | 8,423 |
| Derivatives Qualifying as Hedging Instruments: | |||
| Unrealized gains / losses on derivative instruments | 41,993 | 34,677 | 23,922 |
| Reclassification adjustment for gains / losses on derivative instruments recognized | (18,705) | (35,914) | (30,672) |
| Net increase (decrease) from derivatives desinated as hedging instruments | 23,288 | (1,237) | (6,750) |
| Foreign currency translation adjustments | (75,872) | 21,826 | (911) |
| Other comprehensive income, net of taxes | (54,197) | 15,391 | 762 |
| Total comprehensive income, net of taxes | 214,198 | 305,376 | 833,537 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2014 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Nov 28, 2014 10-K (Filed: Jan 20, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 28, 2014 | Nov 29, 2013 | Nov 30, 2012 | |
| Cash flows from operating activities: | |||
| Net income | $ 268,395 | 289,985 | 832,775 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 313,590 | 321,227 | 299,766 |
| Stock-based compensation | 333,701 | 328,987 | 298,502 |
| Deferred income taxes | (26,089) | 29,704 | 89,212 |
| Write-down of assets held for sale, net of gains on sale | 0 | (23,151) | 0 |
| Unrealized (gains) losses on investments | (74) | 5,665 | (8,535) |
| Tax benefit (shortfall) from employee stock option plans | 53,225 | 25,290 | (16,841) |
| Excess tax benefits from stock-based compensation | (53,235) | (40,619) | (10,003) |
| Other non-cash items | 1,889 | 5,654 | 4,296 |
| Changes in operating assets and liabilities, net of acquired assets and assumed liabilities: | |||
| Trade receivables, net | 7,928 | 33,649 | 45,166 |
| Prepaid expenses and other current assets | (1,918) | (55,509) | 4,552 |
| Trade payables | 6,211 | 7,132 | (62,874) |
| Accrued expenses | 37,544 | 41,828 | (7,770) |
| Accrued restructuring | 8,871 | (6,949) | (66,047) |
| Income taxes payable | 11,006 | (58,875) | 10,041 |
| Deferred revenue | 326,438 | 201,366 | 87,340 |
| Net cash provided by operating activities | 1,287,482 | 1,151,686 | 1,499,580 |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (2,014,186) | (2,058,058) | (1,776,485) |
| Maturities of short-term investments | 272,076 | 360,485 | 439,878 |
| Proceeds from sales of short-term investments | 1,443,577 | 1,449,961 | 1,126,886 |
| Business acquisitions, net of cash acquired | (29,802) | (704,589) | (353,195) |
| Purchases of property and equipment | (148,332) | (188,358) | (271,076) |
| Proceeds from sale of property and equipment | 0 | 24,260 | 0 |
| Purchases of long-term investments, intangibles and other assets | (17,572) | (67,737) | (29,701) |
| Proceeds from sale of long-term investments | 3,532 | 6,233 | 29,031 |
| Net cash used for investing activities | (490,707) | (1,177,803) | (834,662) |
| Cash flows from financing activities: | |||
| Purchases of treasury stock | (600,000) | (1,100,000) | (405,000) |
| Proceeds from issuance of treasury stock | 227,841 | 598,194 | 235,251 |
| Cost of Issuance of treasury stock | (173,675) | (97,418) | (65,977) |
| Excess tax benefits from stock-based compensation | 53,235 | 40,619 | 10,003 |
| Proceeds from long-term debt and capital lease obligations | 0 | 25,703 | 3,152 |
| Repayment of debt and capital lease obligations | (14,684) | (25,879) | (9,855) |
| Debt issuance costs | 0 | (357) | (2,297) |
| Net cash used for financing activities | (507,283) | (559,138) | (234,723) |
| Effect of foreign currency exchange rates on cash and cash equivalents | (6,648) | (5,241) | 5,357 |
| Net increase (decrease) in cash and cash equivalents | 282,844 | (590,496) | 435,552 |
| Cash and cash equivalents at beginning of year | 834,556 | 1,425,052 | |
| Cash and cash equivalents at end of year | 1,117,400 | 834,556 | 1,425,052 |
| Supplemental disclosures: | |||
| Cash paid for income taxes, net of refunds | 20,140 | 129,701 | 201,125 |
| Cash paid for interest | 68,886 | 64,843 | 66,265 |
| Non-cash investing activities: | |||
| Investment in lease receivable applied to building purchase | 126,800 | 0 | 0 |
| Issuance of common stock and stock awards assumed in business acquisitions | 21 | 1,160 | 4,265 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ADOBE INC. | ||
Ticker: ADBE Fiscal Year: 2014 | ||
Consolidated Balance Sheets | ||
Period Ending Nov 28, 2014 10-K (Filed: Jan 20, 2015) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Nov 28, 2014 | Nov 29, 2013 | |
| Assets: | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,117,400 | 834,556 |
| Short-term investments | 2,622,091 | 2,339,196 |
| Trade receivables, net of allowances for doubtful accounts of $7,867 and $10,228, respectively | 591,800 | 599,820 |
| Deferred income taxes | 95,279 | 102,247 |
| Prepaid expenses and other current assets | 175,758 | 170,110 |
| Total current assets | 4,602,328 | 4,045,929 |
| Property and equipment, net | 785,123 | 659,774 |
| Goodwill | 4,721,962 | 4,771,981 |
| Purchased and other intangibles, net | 469,662 | 605,254 |
| Investment in lease receivable | 80,439 | 207,239 |
| Other assets | 126,315 | 90,121 |
| Total assets | 10,785,829 | 10,380,298 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Trade payables | 68,377 | 62,096 |
| Accrued expenses | 683,866 | 656,939 |
| Debt and capital lease obligations, current | 603,229 | 14,676 |
| Accrued restructuring | 17,120 | 6,171 |
| Income taxes payable | 23,920 | 10,222 |
| Deferred revenue | 1,097,923 | 775,544 |
| Total current liabilities | 2,494,435 | 1,525,648 |
| Long-term liabilities: | ||
| Debt and capital lease obligations | 911,086 | 1,499,297 |
| Deferred revenue | 57,401 | 53,268 |
| Accrued restructuring | 5,194 | 7,717 |
| Income taxes payable | 125,746 | 132,545 |
| Deferred income taxes | 342,315 | 375,634 |
| Other liabilities | 73,747 | 61,555 |
| Total liabilities | 4,009,924 | 3,655,664 |
| 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; 497,484 and 496,261 shares outstanding, respectively | 61 | 61 |
| Additional paid-in-capital | 3,778,495 | 3,392,696 |
| Retained earnings | 6,924,294 | 6,928,964 |
| Accumulated other comprehensive income (loss) | (8,094) | 46,103 |
| Treasury stock, at cost (103,350 and 104,573 shares, respectively), net of reissuances | (3,918,851) | (3,643,190) |
| Total stockholders' equity | 6,775,905 | 6,724,634 |
| Total liabilities and stockholders' equity | 10,785,829 | 10,380,298 |
| External Links | |
| ADOBE INC. (ADBE) Fiscal Year 2014 | |
| 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 |