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: 2016 | |||
Consolidated Statements of Income | |||
Period Ending Dec 2, 2016 10-K (Filed: Jan 20, 2017) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 2, 2016 | Nov 27, 2015 | Nov 28, 2014 | |
| Revenue: | |||
| Subscription | $ 4,584,833 | 3,223,904 | 2,076,584 |
| Products | 800,498 | 1,125,146 | 1,627,803 |
| Services and support | 469,099 | 446,461 | 442,678 |
| Total revenue | 5,854,430 | 4,795,511 | 4,147,065 |
| Cost of revenue: | |||
| Subscription | 461,860 | 409,194 | 335,432 |
| Products | 68,917 | 90,035 | 97,099 |
| Services and support | 289,131 | 245,088 | 189,549 |
| Total cost of revenue | 819,908 | 744,317 | 622,080 |
| Gross profit | 5,034,522 | 4,051,194 | 3,524,985 |
| Operating expenses: | |||
| Research and development | 975,987 | 862,730 | 844,353 |
| Sales and marketing | 1,910,197 | 1,683,242 | 1,652,308 |
| General and administrative | 577,710 | 531,919 | 543,332 |
| Restructuring and other charges | (1,508) | 1,559 | 19,883 |
| Amortization of purchased intangibles | 78,534 | 68,649 | 52,424 |
| Total operating expenses | 3,540,920 | 3,148,099 | 3,112,300 |
| Operating income | 1,493,602 | 903,095 | 412,685 |
| Non-operating income (expense): | |||
| Interest and other income (expense), net | 13,548 | 33,909 | 7,267 |
| Interest expense | (70,442) | (64,184) | (59,732) |
| Investment gains (losses), net | (1,570) | 961 | 1,156 |
| Total non-operating income (expense), net | (58,464) | (29,314) | (51,309) |
| Income before income taxes | 1,435,138 | 873,781 | 361,376 |
| Provision for income taxes | 266,356 | 244,230 | 92,981 |
| Net income | 1,168,782 | 629,551 | 268,395 |
| Basic net income per share | 2.35 | 1.26 | 0.54 |
| Shares used to compute basic net income per share | 498,345 | 498,764 | 497,867 |
| Diluted net income per share | 2.32 | 1.24 | 0.53 |
| Shares used to compute diluted net income per share | 504,299 | 507,164 | 508,480 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2016 | |||
Consolidated Statements of Comprehensive Income Statement | |||
Period Ending Dec 2, 2016 10-K (Filed: Jan 20, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 2, 2016 | Nov 27, 2015 | Nov 28, 2014 | |
| Net income | $ 1,168,782 | 629,551 | 268,395 |
| Other comprehensive income (loss), net of taxes: | |||
| Available-for-sale Securities: | |||
| Unrealized gains / losses on available-for-sale securities | (1,618) | (9,226) | 2,315 |
| Reclassification adjustment for gains / losses on available-for-sale securities recognized | (1,895) [1] | (2,955) | (3,928) |
| Net increase (decrease) from available-for-sale securities | (3,513) | (12,181) | (1,613) |
| Derivatives designated as hedging instruments: | |||
| Unrealized gains / losses on derivative instruments | 35,199 | 29,795 | 41,993 |
| Reclassification adjustment for gains / losses on derivative instruments recognized | (16,425) [2] | (55,535) | (18,705) |
| Net increase (decrease) from derivatives desinated as hedging instruments | 18,774 | (25,740) | 23,288 |
| Foreign currency translation adjustments | (19,783) | (123,065) | (75,872) |
| Other comprehensive income (loss), net of taxes | (4,522) | (160,986) | (54,197) |
| Total comprehensive income, net of taxes | 1,164,260 | 468,565 | 214,198 |
| [1] (1) Reclassification adjustments for gains / losses on available-for-sale securities are classified in interest and other income (expense), net. | |||
| [2] (2) Reclassification adjustments for loss on the interest rate lock agreement and gains / losses on other derivative instruments are classified in interest and other income (expense), net and revenue, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 2, 2016 10-K (Filed: Jan 20, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 2, 2016 | Nov 27, 2015 | Nov 28, 2014 | |
| Cash flows from operating activities: | |||
| Net income | $ 1,168,782 | 629,551 | 268,395 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 331,535 | 339,473 | 313,590 |
| Stock-based compensation | 349,912 | 335,859 | 333,701 |
| Deferred income taxes | 24,222 | (69,657) | (26,089) |
| Gain on the sale of property | 0 | (21,415) | 0 |
| Unrealized (gains) losses on investments | 3,145 | (9,210) | (74) |
| Tax benefit from stock-based compensation | 75,102 | 68,133 | 53,225 |
| Excess tax benefits from stock-based compensation | (75,105) | (68,153) | (53,235) |
| Other non-cash items | 2,022 | 1,216 | 1,889 |
| Changes in operating assets and liabilities, net of acquired assets and assumed liabilities: | |||
| Trade receivables, net | (160,416) | (79,502) | 7,928 |
| Prepaid expenses and other current assets | (71,021) | (7,701) | (1,918) |
| Trade payables | (6,281) | 22,870 | 6,211 |
| Accrued expenses | 64,978 | (22,564) | 46,415 |
| Income taxes payable | (31,987) | 29,801 | 11,006 |
| Deferred revenue | 524,840 | 320,801 | 326,438 |
| Net cash provided by operating activities | 2,199,728 | 1,469,502 | 1,287,482 |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (2,285,222) | (2,064,833) | (2,014,186) |
| Maturities of short-term investments | 769,228 | 371,790 | 272,076 |
| Proceeds from sales of short-term investments | 860,849 | 1,176,476 | 1,443,577 |
| Acquisitions, net of cash acquired | (48,427) | (826,004) | (29,802) |
| Purchases of property and equipment | (203,805) | (184,936) | (148,332) |
| Proceeds from sale of property | 0 | 57,779 | 0 |
| Purchases of long-term investments, intangibles and other assets | (58,433) | (22,779) | (17,572) |
| Proceeds from sale of long-term investments | 5,777 | 4,149 | 3,532 |
| Net cash used for investing activities | (960,033) | (1,488,358) | (490,707) |
| Cash flows from financing activities: | |||
| Purchases of treasury stock | (1,075,000) | (625,000) | (600,000) |
| Proceeds from issuance of treasury stock | 145,697 | 164,270 | 227,841 |
| Cost of issuance of treasury stock | (236,400) | (186,373) | (173,675) |
| Excess tax benefits from stock-based compensation | 75,105 | 68,153 | 53,235 |
| Proceeds from debt issuance | 0 | 989,280 | 0 |
| Repayment of debt and capital lease obligations | (108) | (602,189) | (14,684) |
| Debt issuance costs | 0 | (8,828) | 0 |
| Net cash used for financing activities | (1,090,706) | (200,687) | (507,283) |
| Effect of foreign currency exchange rates on cash and cash equivalents | (14,234) | (21,297) | (6,648) |
| Net increase (decrease) in cash and cash equivalents | 134,755 | (240,840) | 282,844 |
| Cash and cash equivalents at beginning of year | 876,560 | 1,117,400 | |
| Cash and cash equivalents at end of year | 1,011,315 | 876,560 | 1,117,400 |
| Supplemental disclosures: | |||
| Cash paid for income taxes, net of refunds | 249,884 | 203,010 | 20,140 |
| Cash paid for interest | 66,193 | 56,014 | 68,886 |
| Non-cash investing activities: | |||
| Investment in lease receivable applied to building purchase | 0 | 0 | 126,800 |
| Issuance of common stock and stock awards assumed in business acquisitions | 0 | 677 | 21 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ADOBE INC. | ||
Ticker: ADBE Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 2, 2016 10-K (Filed: Jan 20, 2017) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 2, 2016 | Nov 27, 2015 | |
| Assets: | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,011,315 | 876,560 |
| Short-term investments | 3,749,985 | 3,111,524 |
| Trade receivables, net of allowances for doubtful accounts of $6,214 and $7,293, respectively | 833,033 | 672,006 |
| Prepaid expenses and other current assets | 245,441 | 161,802 |
| Total current assets | 5,839,774 | 4,821,892 |
| Property and equipment, net | 816,264 | 787,421 |
| Goodwill | 5,406,474 | 5,366,881 |
| Purchased and other intangibles, net | 414,405 | 510,007 |
| Investment in lease receivable | 80,439 | 80,439 |
| Other assets | 149,758 | 159,832 |
| Total assets | 12,707,114 | 11,726,472 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Accounts Payable, Current | 88,024 | 93,307 |
| Accrued expenses | 739,630 | 679,884 |
| Income taxes payable | 38,362 | 6,165 |
| Deferred revenue | 1,945,619 | 1,434,200 |
| Total current liabilities | 2,811,635 | 2,213,556 |
| Long-term liabilities: | ||
| Debt and capital lease obligations | 1,902,068 | 1,907,231 |
| Deferred revenue | 69,131 | 51,094 |
| Income taxes payable | 184,381 | 256,129 |
| Deferred income taxes | 217,660 | 208,209 |
| Other liabilities | 97,404 | 88,673 |
| Total liabilities | 5,282,279 | 4,724,892 |
| 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; 494,254 and 497,809 shares outstanding, respectively | 61 | 61 |
| Additional paid-in-capital | 4,616,331 | 4,184,883 |
| Retained earnings | 8,114,517 | 7,253,431 |
| Accumulated other comprehensive income (loss) | (173,602) | (169,080) |
| Treasury stock, at cost (106,580 and 103,025 shares, respectively), net of reissuances | (5,132,472) | (4,267,715) |
| Total stockholders' equity | 7,424,835 | 7,001,580 |
| Total liabilities and stockholders' equity | 12,707,114 | 11,726,472 |
| External Links | |
| ADOBE INC. (ADBE) Fiscal Year 2016 | |
| 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 |