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: 2015 | |||
Consolidated Statements of Income | |||
Period Ending Nov 27, 2015 10-K (Filed: Jan 19, 2016) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 27, 2015 | Nov 28, 2014 | Nov 29, 2013 | |
| Revenue: | |||
| Subscription | $ 3,223,904 | 2,076,584 | 1,137,856 |
| Products | 1,125,146 | 1,627,803 | 2,470,098 |
| Services and support | 446,461 | 442,678 | 447,286 |
| Total revenue | 4,795,511 | 4,147,065 | 4,055,240 |
| Cost of revenue: | |||
| Subscription | 409,194 | 335,432 | 278,077 |
| Products | 90,035 | 97,099 | 138,154 |
| Services and support | 245,088 | 189,549 | 170,326 |
| Total cost of revenue | 744,317 | 622,080 | 586,557 |
| Gross profit | 4,051,194 | 3,524,985 | 3,468,683 |
| Operating expenses: | |||
| Research and development | 862,730 | 844,353 | 826,631 |
| Sales and marketing | 1,683,242 | 1,652,308 | 1,620,454 |
| General and administrative | 531,919 | 543,332 | 520,124 |
| Restructuring and other charges | 1,559 | 19,883 | 26,497 |
| Amortization of purchased intangibles | 68,649 | 52,424 | 52,254 |
| Total operating expenses | 3,148,099 | 3,112,300 | 3,045,960 |
| Operating income | 903,095 | 412,685 | 422,723 |
| Non-operating income (expense): | |||
| Interest and other income (expense), net | 33,909 | 7,267 | 4,941 |
| Interest expense | (64,184) | (59,732) | (67,508) |
| Investment gains (losses), net | 961 | 1,156 | (4,015) |
| Total non-operating income (expense), net | (29,314) | (51,309) | (66,582) |
| Income before income taxes | 873,781 | 361,376 | 356,141 |
| Provision for income taxes | 244,230 | 92,981 | 66,156 |
| Net income | 629,551 | 268,395 | 289,985 |
| Basic net income per share | 1.26 | 0.54 | 0.58 |
| Shares used to compute basic net income per share | 498,764 | 497,867 | 501,372 |
| Diluted net income per share | 1.24 | 0.53 | 0.56 |
| Shares used to compute diluted net income per share | 507,164 | 508,480 | 513,476 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2015 | |||
Consolidated Statements of Comprehensive Income Statement | |||
Period Ending Nov 27, 2015 10-K (Filed: Jan 19, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 27, 2015 | Nov 28, 2014 | Nov 29, 2013 | |
| Net income | $ 629,551 | 268,395 | 289,985 |
| Other Comprehensive Income (Loss): | |||
| Available-for-sale Securities: | |||
| Unrealized gains / losses on available-for-sale securities | (9,226) | 2,315 | (2,185) |
| Reclassification adjustment for gains / losses on available-for-sale securities recognized | (2,955) | (3,928) | (3,013) |
| Net increase (decrease) from available-for-sale securities | (12,181) | (1,613) | (5,198) |
| Derivatives Qualifying as Hedging Instruments: | |||
| Unrealized gains / losses on derivative instruments | 29,795 | 41,993 | 34,677 |
| Reclassification adjustment for gains / losses on derivative instruments recognized | (55,535) | (18,705) | (35,914) |
| Net increase (decrease) from derivatives desinated as hedging instruments | (25,740) | 23,288 | (1,237) |
| Foreign currency translation adjustments | (123,065) | (75,872) | 21,826 |
| Other comprehensive income, net of taxes | (160,986) | (54,197) | 15,391 |
| Total comprehensive income, net of taxes | 468,565 | 214,198 | 305,376 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Nov 27, 2015 10-K (Filed: Jan 19, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 27, 2015 | Nov 28, 2014 | Nov 29, 2013 | |
| Cash flows from operating activities: | |||
| Net income | $ 629,551 | 268,395 | 289,985 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 339,473 | 313,590 | 321,227 |
| Stock-based compensation | 335,859 | 333,701 | 328,987 |
| Deferred income taxes | (69,657) | (26,089) | 29,704 |
| Gain on the sale of property | (21,415) | 0 | 0 |
| Write-down of assets held for sale, net of gains on sale | 0 | 0 | 23,151 |
| Unrealized (gains) losses on investments | (9,210) | (74) | 5,665 |
| Tax benefit from stock-based compensation | 68,133 | 53,225 | 25,290 |
| Excess tax benefits from stock-based compensation | (68,153) | (53,235) | (40,619) |
| Other non-cash items | 1,216 | 1,889 | 5,654 |
| Changes in operating assets and liabilities, net of acquired assets and assumed liabilities: | |||
| Trade receivables, net | (79,502) | 7,928 | 33,649 |
| Prepaid expenses and other current assets | (7,701) | (1,918) | (55,509) |
| Trade payables | 22,870 | 6,211 | 7,132 |
| Accrued expenses | (5,944) | 37,544 | 41,828 |
| Accrued restructuring | (16,620) | 8,871 | (6,949) |
| Income taxes payable | 29,801 | 11,006 | (58,875) |
| Deferred revenue | 320,801 | 326,438 | 201,366 |
| Net cash provided by operating activities | 1,469,502 | 1,287,482 | 1,151,686 |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (2,064,833) | (2,014,186) | (2,058,058) |
| Maturities of short-term investments | 371,790 | 272,076 | 360,485 |
| Proceeds from sales of short-term investments | 1,176,476 | 1,443,577 | 1,449,961 |
| Business acquisitions, net of cash acquired | (826,004) | (29,802) | (704,589) |
| Purchases of property and equipment | (184,936) | (148,332) | (188,358) |
| Proceeds from sale of property and equipment | 57,779 | 0 | 24,260 |
| Purchases of long-term investments, intangibles and other assets | (22,779) | (17,572) | (67,737) |
| Proceeds from sale of long-term investments | 4,149 | 3,532 | 6,233 |
| Net cash used for investing activities | (1,488,358) | (490,707) | (1,177,803) |
| Cash flows from financing activities: | |||
| Purchases of treasury stock | (625,000) | (600,000) | (1,100,000) |
| Proceeds from issuance of treasury stock | 164,270 | 227,841 | 598,194 |
| Cost of Issuance of treasury stock | (186,373) | (173,675) | (97,418) |
| Excess tax benefits from stock-based compensation | 68,153 | 53,235 | 40,619 |
| Proceeds from long-term debt and capital lease obligations | 989,280 | 0 | 25,703 |
| Repayment of debt and capital lease obligations | (602,189) | (14,684) | (25,879) |
| Debt issuance costs | (8,828) | 0 | (357) |
| Net cash used for financing activities | (200,687) | (507,283) | (559,138) |
| Effect of foreign currency exchange rates on cash and cash equivalents | (21,297) | (6,648) | (5,241) |
| Net increase (decrease) in cash and cash equivalents | (240,840) | 282,844 | (590,496) |
| Cash and cash equivalents at beginning of year | 1,117,400 | 834,556 | |
| Cash and cash equivalents at end of year | 876,560 | 1,117,400 | 834,556 |
| Supplemental disclosures: | |||
| Cash paid for income taxes, net of refunds | 203,010 | 20,140 | 129,701 |
| Cash paid for interest | 56,014 | 68,886 | 64,843 |
| Non-cash investing activities: | |||
| Investment in lease receivable applied to building purchase | 0 | 126,800 | 0 |
| Issuance of common stock and stock awards assumed in business acquisitions | 677 | 21 | 1,160 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ADOBE INC. | ||
Ticker: ADBE Fiscal Year: 2015 | ||
Consolidated Balance Sheets | ||
Period Ending Nov 27, 2015 10-K (Filed: Jan 19, 2016) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Nov 27, 2015 | Nov 28, 2014 | |
| Assets: | ||
| Current assets: | ||
| Cash and cash equivalents | $ 876,560 | 1,117,400 |
| Short-term investments | 3,111,524 | 2,622,091 |
| Trade receivables, net of allowances for doubtful accounts of $7,293 and $7,867, respectively | 672,006 | 591,800 |
| Deferred income taxes | 0 | 95,279 |
| Prepaid expenses and other current assets | 161,802 | 175,758 |
| Total current assets | 4,821,892 | 4,602,328 |
| Property and equipment, net | 787,421 | 785,123 |
| Goodwill | 5,366,881 | 4,721,962 |
| Purchased and other intangibles, net | 510,007 | 469,662 |
| Investment in lease receivable | 80,439 | 80,439 |
| Other assets | 159,832 | 126,315 |
| Total assets | 11,726,472 | 10,785,829 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Accounts Payable, Current | 93,307 | 68,377 |
| Accrued expenses | 678,364 | 683,866 |
| Debt and capital lease obligations, current | 0 | 603,229 |
| Accrued restructuring | 1,520 | 17,120 |
| Income taxes payable | 6,165 | 23,920 |
| Deferred revenue | 1,434,200 | 1,097,923 |
| Total current liabilities | 2,213,556 | 2,494,435 |
| Long-term liabilities: | ||
| Debt and capital lease obligations | 1,907,231 | 911,086 |
| Deferred revenue | 51,094 | 57,401 |
| Accrued restructuring | 3,214 | 5,194 |
| Income taxes payable | 256,129 | 125,746 |
| Deferred income taxes | 208,209 | 342,315 |
| Other liabilities | 85,459 | 73,747 |
| Total liabilities | 4,724,892 | 4,009,924 |
| 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; 497,809 and 497,484 shares outstanding, respectively | 61 | 61 |
| Additional paid-in-capital | 4,184,883 | 3,778,495 |
| Retained earnings | 7,253,431 | 6,924,294 |
| Accumulated other comprehensive income (loss) | (169,080) | (8,094) |
| Treasury stock, at cost (103,025 and 103,350 shares, respectively), net of reissuances | (4,267,715) | (3,918,851) |
| Total stockholders' equity | 7,001,580 | 6,775,905 |
| Total liabilities and stockholders' equity | 11,726,472 | 10,785,829 |
| External Links | |
| ADOBE INC. (ADBE) Fiscal Year 2015 | |
| 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 |