10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
| ||||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2017 | |||
Consolidated Statements of Income | |||
Period Ending Dec 1, 2017 10-K (Filed: Jan 22, 2018) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 1, 2017 | Dec 2, 2016 | Nov 27, 2015 | |
| Revenue: | |||
| Subscription | $ 6,133,869 | 4,584,833 | 3,223,904 |
| Products | 706,767 | 800,498 | 1,125,146 |
| Services and support | 460,869 | 469,099 | 446,461 |
| Total revenue | 7,301,505 | 5,854,430 | 4,795,511 |
| Cost of revenue: | |||
| Subscription | 623,048 | 461,860 | 409,194 |
| Products | 57,082 | 68,917 | 90,035 |
| Services and support | 330,361 | 289,131 | 245,088 |
| Total cost of revenue | 1,010,491 | 819,908 | 744,317 |
| Gross profit | 6,291,014 | 5,034,522 | 4,051,194 |
| Operating expenses: | |||
| Research and development | 1,224,059 | 975,987 | 862,730 |
| Sales and marketing | 2,197,592 | 1,910,197 | 1,683,242 |
| General and administrative | 624,706 | 576,202 | 533,478 |
| Amortization of purchased intangibles | 76,562 | 78,534 | 68,649 |
| Total operating expenses | 4,122,919 | 3,540,920 | 3,148,099 |
| Operating income | 2,168,095 | 1,493,602 | 903,095 |
| Non-operating income (expense): | |||
| Interest and other income (expense), net | 36,395 | 13,548 | 33,909 |
| Interest expense | (74,402) | (70,442) | (64,184) |
| Investment gains (losses), net | 7,553 | (1,570) | 961 |
| Total non-operating income (expense), net | (30,454) | (58,464) | (29,314) |
| Income before income taxes | 2,137,641 | 1,435,138 | 873,781 |
| Provision for income taxes | 443,687 | 266,356 | 244,230 |
| Net income | 1,693,954 | 1,168,782 | 629,551 |
| Basic net income per share | 3.43 | 2.35 | 1.26 |
| Shares used to compute basic net income per share | 493,632 | 498,345 | 498,764 |
| Diluted net income per share | 3.38 | 2.32 | 1.24 |
| Shares used to compute diluted net income per share | 501,123 | 504,299 | 507,164 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2017 | |||
Consolidated Statements of Comprehensive Income Statement | |||
Period Ending Dec 1, 2017 10-K (Filed: Jan 22, 2018) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 1, 2017 | Dec 2, 2016 | Nov 27, 2015 | |
| Net income | $ 1,693,954 | 1,168,782 | 629,551 |
| Other comprehensive income (loss), net of taxes: | |||
| Available-for-sale Securities: | |||
| Unrealized gains / losses on available-for-sale securities | (2,503) | (1,618) | (9,226) |
| Reclassification adjustment for gains / losses on available-for-sale securities recognized | (947) [1] | (1,895) | (2,955) |
| Net increase (decrease) from available-for-sale securities | (3,450) | (3,513) | (12,181) |
| Derivatives designated as hedging instruments: | |||
| Unrealized gains / losses on derivative instruments | 6,917 | 35,199 | 29,795 |
| Reclassification adjustment for gains / losses on derivative instruments recognized | (31,973) [2] | (16,425) | (55,535) |
| Net increase (decrease) from derivatives desinated as hedging instruments | (25,056) | 18,774 | (25,740) |
| Foreign currency translation adjustments | 90,287 | (19,783) | (123,065) |
| Other comprehensive income (loss), net of taxes | 61,781 | (4,522) | (160,986) |
| Total comprehensive income, net of taxes | 1,755,735 | 1,164,260 | 468,565 |
| [2] (2) Reclassification adjustments for gains / losses on other derivative instruments are classified in revenue. | |||
| [1] (1) Reclassification adjustments for gains / losses on available-for-sale securities are classified in interest and other income (expense), net. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2017 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 1, 2017 10-K (Filed: Jan 22, 2018) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 1, 2017 | Dec 2, 2016 | Nov 27, 2015 | |
| Cash flows from operating activities: | |||
| Net income | $ 1,693,954 | 1,168,782 | 629,551 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 325,997 | 331,535 | 339,473 |
| Stock-based compensation | 451,451 | 349,912 | 335,859 |
| Deferred income taxes | 51,605 | 24,222 | (69,657) |
| Gain on the sale of property | 0 | 0 | (21,415) |
| Unrealized (gains) losses on investments | (5,494) | 3,145 | (9,210) |
| Excess tax benefits from stock-based compensation | 0 | (75,105) | (68,153) |
| Other non-cash items | 4,625 | 2,022 | 1,216 |
| Changes in operating assets and liabilities, net of acquired assets and assumed liabilities: | |||
| Trade receivables, net | (187,173) | (160,416) | (79,502) |
| Prepaid expenses and other current assets | 28,040 | (71,021) | (7,701) |
| Trade payables | (45,186) | (6,281) | 22,870 |
| Accrued expenses | 154,125 | 64,978 | (22,564) |
| Income taxes payable | (34,493) | 43,115 | 97,934 |
| Deferred revenue | 475,402 | 524,840 | 320,801 |
| Net cash provided by operating activities | 2,912,853 | 2,199,728 | 1,469,502 |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (1,931,011) | (2,285,222) | (2,064,833) |
| Maturities of short-term investments | 759,737 | 769,228 | 371,790 |
| Proceeds from sales of short-term investments | 1,393,929 | 860,849 | 1,176,476 |
| Acquisitions, net of cash acquired | (459,626) | (48,427) | (826,004) |
| Purchases of property and equipment | (178,122) | (203,805) | (184,936) |
| Proceeds from sale of property | 0 | 0 | 57,779 |
| Purchases of long-term investments, intangibles and other assets | (29,918) | (58,433) | (22,779) |
| Proceeds from sale of long-term investments | 2,134 | 5,777 | 4,149 |
| Net cash used for investing activities | (442,877) | (960,033) | (1,488,358) |
| Cash flows from financing activities: | |||
| Purchases of treasury stock | (1,100,000) | (1,075,000) | (625,000) |
| Proceeds from issuance of treasury stock | 158,351 | 145,697 | 164,270 |
| Taxes paid related to net share settlement of equity awards | (240,126) | (236,400) | (186,373) |
| Excess tax benefits from stock-based compensation | 0 | 75,105 | 68,153 |
| Proceeds from Issuance of Debt | 0 | 0 | 989,280 |
| Repayment of debt and capital lease obligations | (1,960) | (108) | (602,189) |
| Debt issuance costs | 0 | 0 | (8,828) |
| Net cash used for financing activities | (1,183,735) | (1,090,706) | (200,687) |
| Effect of foreign currency exchange rates on cash and cash equivalents | 8,516 | (14,234) | (21,297) |
| Net increase (decrease) in cash and cash equivalents | 1,294,757 | 134,755 | (240,840) |
| Cash and cash equivalents at beginning of year | 1,011,315 | 876,560 | |
| Cash and cash equivalents at end of year | 2,306,072 | 1,011,315 | 876,560 |
| Supplemental disclosures: | |||
| Cash paid for income taxes, net of refunds | 396,668 | 249,884 | 203,010 |
| Cash paid for interest | 69,430 | 66,193 | 56,014 |
| Non-cash investing activities: | |||
| Investment in lease receivable applied to building purchase | 80,439 | 0 | 0 |
| Issuance of common stock and stock awards assumed in business acquisitions | 10,348 | 0 | 677 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ADOBE INC. | ||
Ticker: ADBE Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 1, 2017 10-K (Filed: Jan 22, 2018) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 1, 2017 | Dec 2, 2016 | |
| Assets: | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,306,072 | 1,011,315 |
| Short-term investments | 3,513,702 | 3,749,985 |
| Trade receivables, net of allowances for doubtful accounts of $9,151 and $6,214, respectively | 1,217,968 | 833,033 |
| Prepaid expenses and other current assets | 210,071 | 245,441 |
| Total current assets | 7,247,813 | 5,839,774 |
| Property and equipment, net | 936,976 | 816,264 |
| Goodwill | 5,821,561 | 5,406,474 |
| Purchased and other intangibles, net | 385,658 | 414,405 |
| Investment in lease receivable | 0 | 80,439 |
| Other assets | 143,548 | 139,890 |
| Total assets | 14,535,556 | 12,697,246 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Accounts Payable, Current | 113,538 | 88,024 |
| Accrued expenses | 993,773 | 739,630 |
| Income taxes payable | 14,196 | 38,362 |
| Deferred revenue | 2,405,950 | 1,945,619 |
| Total current liabilities | 3,527,457 | 2,811,635 |
| Long-term liabilities: | ||
| Debt and capital lease obligations | 1,881,421 | 1,892,200 |
| Deferred revenue | 88,592 | 69,131 |
| Income taxes payable | 173,088 | 184,381 |
| Deferred income taxes | 279,941 | 217,660 |
| Other liabilities | 125,188 | 97,404 |
| Total liabilities | 6,075,687 | 5,272,411 |
| 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; 491,262 and 494,254 shares outstanding, respectively | 61 | 61 |
| Additional paid-in-capital | 5,082,195 | 4,616,331 |
| Retained earnings | 9,573,870 | 8,114,517 |
| Accumulated other comprehensive income (loss) | (111,821) | (173,602) |
| Treasury stock, at cost (109,572 and 106,580 shares, respectively), net of reissuances | (6,084,436) | (5,132,472) |
| Total stockholders' equity | 8,459,869 | 7,424,835 |
| Total liabilities and stockholders' equity | 14,535,556 | 12,697,246 |
| External Links | |
| ADOBE INC. (ADBE) Fiscal Year 2017 | |
| 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 |