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: 2018 | |||
Consolidated Statements of Income | |||
Period Ending Nov 30, 2018 10-K (Filed: Jan 25, 2019) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 30, 2018 | Dec 1, 2017 | Dec 2, 2016 | |
| Revenue: | |||
| Subscription | $ 7,922,152 | 6,133,869 | 4,584,833 |
| Product | 622,153 | 706,767 | 800,498 |
| Services and support | 485,703 | 460,869 | 469,099 |
| Total revenue | 9,030,008 | 7,301,505 | 5,854,430 |
| Cost of revenue: | |||
| Subscription | 807,221 | 623,048 | 461,860 |
| Product | 46,009 | 57,082 | 68,917 |
| Services and support | 341,769 | 330,361 | 289,131 |
| Total cost of revenue | 1,194,999 | 1,010,491 | 819,908 |
| Gross profit | 7,835,009 | 6,291,014 | 5,034,522 |
| Operating expenses: | |||
| Research and development | 1,537,812 | 1,224,059 | 975,987 |
| Sales and marketing | 2,620,829 | 2,197,592 | 1,910,197 |
| General and administrative | 744,898 | 624,706 | 576,202 |
| Amortization of purchased intangibles | 91,101 | 76,562 | 78,534 |
| Total operating expenses | 4,994,640 | 4,122,919 | 3,540,920 |
| Operating income | 2,840,369 | 2,168,095 | 1,493,602 |
| Non-operating income (expense): | |||
| Interest and other income (expense), net | 39,536 | 36,395 | 13,548 |
| Interest expense | (89,242) | (74,402) | (70,442) |
| Investment gains (losses), net | 3,213 | 7,553 | (1,570) |
| Total non-operating income (expense), net | (46,493) | (30,454) | (58,464) |
| Income before income taxes | 2,793,876 | 2,137,641 | 1,435,138 |
| Provision for income taxes | 203,102 | 443,687 | 266,356 |
| Net income | 2,590,774 | 1,693,954 | 1,168,782 |
| Basic net income per share | 5.28 | 3.43 | 2.35 |
| Shares used to compute basic net income per share | 490,564 | 493,632 | 498,345 |
| Diluted net income per share | 5.20 | 3.38 | 2.32 |
| Shares used to compute diluted net income per share | 497,843 | 501,123 | 504,299 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2018 | |||
Consolidated Statements of Comprehensive Income Statement | |||
Period Ending Nov 30, 2018 10-K (Filed: Jan 25, 2019) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 30, 2018 | Dec 1, 2017 | Dec 2, 2016 | |
| Net income | $ 2,590,774 | 1,693,954 | 1,168,782 |
| Other comprehensive income (loss), net of taxes: | |||
| Available-for-sale Securities: | |||
| Unrealized gains / losses on available-for-sale securities | (24,464) | (2,503) | (1,618) |
| Reclassification adjustment for gains / losses on available-for-sale securities recognized | 10,650 [1] | (947) | (1,895) |
| Net increase (decrease) from available-for-sale securities | (13,814) | (3,450) | (3,513) |
| Derivatives designated as hedging instruments: | |||
| Unrealized gains / losses on derivative instruments | 74,080 | 6,917 | 35,199 |
| Reclassification adjustment for gains / losses on derivative instruments recognized | (48,981) [2] | (31,973) | (16,425) |
| Net increase (decrease) from derivatives desinated as hedging instruments | 25,099 | (25,056) | 18,774 |
| Foreign currency translation adjustments | (47,594) | 90,287 | (19,783) |
| Other comprehensive income (loss), net of taxes | (36,309) | 61,781 | (4,522) |
| Total comprehensive income, net of taxes | 2,554,465 | 1,755,735 | 1,164,260 |
| [1] Reclassification adjustments for gains / losses on available-for-sale securities are classified in interest and other income (expense), net. | |||
| [2] Reclassification adjustments for gains / losses on other derivative instruments are classified in revenue. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ADOBE INC. | |||
Ticker: ADBE Fiscal Year: 2018 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Nov 30, 2018 10-K (Filed: Jan 25, 2019) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 30, 2018 | Dec 1, 2017 | Dec 2, 2016 | |
| Cash flows from operating activities: | |||
| Net income | $ 2,590,774 | 1,693,954 | 1,168,782 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 346,492 | 325,997 | 331,535 |
| Stock-based compensation | 609,562 | 454,472 | 349,297 |
| Deferred income taxes | 468,936 | (51,605) | (24,222) |
| Unrealized losses (gains) on investments, net | 793 | (5,494) | 3,145 |
| Excess tax benefits from stock-based compensation | 0 | 0 | (75,105) |
| Other non-cash items | 7,193 | 4,625 | 2,022 |
| Changes in operating assets and liabilities, net of acquired assets and assumed liabilities: | |||
| Trade receivables, net | (1,983) | (187,173) | (160,416) |
| Prepaid expenses and other current assets | (77,225) | 28,040 | (71,021) |
| Trade payables | (54,920) | 45,186 | 6,281 |
| Accrued expenses | 43,837 | 151,104 | 65,593 |
| Income taxes payable | 479,184 | (34,493) | 43,115 |
| Deferred revenue | 444,693 | 475,402 | 524,840 |
| Net cash provided by operating activities | 4,029,304 | 2,912,853 | 2,199,728 |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (566,084) | (1,931,011) | (2,285,222) |
| Maturities of short-term investments | 765,860 | 759,737 | 769,228 |
| Proceeds from sales of short-term investments | 1,709,480 | 1,393,929 | 860,849 |
| Acquisitions, net of cash acquired | (6,314,382) | (459,626) | (48,427) |
| Purchases of property and equipment | (266,579) | (178,122) | (203,805) |
| Purchases of long-term investments, intangibles and other assets | (18,513) | (29,918) | (58,433) |
| Proceeds from sale of long-term investments and other assets | 4,923 | 2,134 | 5,777 |
| Net cash used for investing activities | (4,685,295) | (442,877) | (960,033) |
| Cash flows from financing activities: | |||
| Purchases of treasury stock | (2,050,000) | (1,100,000) | (1,075,000) |
| Proceeds from issuance of treasury stock | 190,990 | 158,351 | 145,697 |
| Taxes paid related to net share settlement of equity awards | (393,193) | (240,126) | (236,400) |
| Excess tax benefits from stock-based compensation | 0 | 0 | 75,105 |
| Proceeds from debt issuance, net of costs | 2,248,342 | 0 | 0 |
| Repayment of capital lease obligations | 1,707 | 1,960 | 108 |
| Net cash used for financing activities | (5,568) | (1,183,735) | (1,090,706) |
| Effect of foreign currency exchange rates on cash and cash equivalents | (1,738) | 8,516 | (14,234) |
| Net increase (decrease) in cash and cash equivalents | (663,297) | 1,294,757 | 134,755 |
| Cash and cash equivalents at beginning of year | 2,306,072 | 1,011,315 | |
| Cash and cash equivalents at end of year | 1,642,775 | 2,306,072 | 1,011,315 |
| Supplemental disclosures: | |||
| Cash paid for income taxes, net of refunds | 210,369 | 396,668 | 249,884 |
| Cash paid for interest | 81,258 | 69,430 | 66,193 |
| Non-cash investing activities: | |||
| Investment in lease receivable applied to building purchase | 0 | 80,439 | 0 |
| Issuance of common stock and stock awards assumed in business acquisitions | 2,784 | 10,348 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ADOBE INC. | ||
Ticker: ADBE Fiscal Year: 2018 | ||
Consolidated Balance Sheets | ||
Period Ending Nov 30, 2018 10-K (Filed: Jan 25, 2019) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Nov 30, 2018 | Dec 1, 2017 | |
| Assets: | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,642,775 | 2,306,072 |
| Short-term investments | 1,586,187 | 3,513,702 |
| Trade receivables, net of allowances for doubtful accounts of $14,981 and $9,151, respectively | 1,315,578 | 1,217,968 |
| Prepaid expenses and other current assets | 312,499 | 210,071 |
| Total current assets | 4,857,039 | 7,247,813 |
| Property and equipment, net | 1,075,072 | 936,976 |
| Goodwill | 10,581,048 | 5,821,561 |
| Purchased and other intangibles, net | 2,069,001 | 385,658 |
| Other assets | 186,522 | 143,548 |
| Total assets | 18,768,682 | 14,535,556 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Trade payables | 186,258 | 113,538 |
| Accrued expenses | 1,163,185 | 993,773 |
| Income taxes payable | 35,709 | 14,196 |
| Deferred revenue | 2,915,974 | 2,405,950 |
| Total current liabilities | 4,301,126 | 3,527,457 |
| Long-term liabilities: | ||
| Debt | 4,124,800 | 1,881,421 |
| Deferred revenue | 137,630 | 88,592 |
| Income taxes payable | 644,101 | 173,088 |
| Deferred income taxes payable | 46,702 | 279,941 |
| Other liabilities | 152,209 | 125,188 |
| Total liabilities | 9,406,568 | 6,075,687 |
| 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; 487,663 and 491,262 shares outstanding, respectively | 61 | 61 |
| Additional paid-in-capital | 5,685,337 | 5,082,195 |
| Retained earnings | 11,815,597 | 9,573,870 |
| Accumulated other comprehensive income (loss) | (148,130) | (111,821) |
| Treasury stock, at cost (113,171 and 109,572 shares, respectively), net of reissuances | (7,990,751) | (6,084,436) |
| Total stockholders' equity | 9,362,114 | 8,459,869 |
| Total liabilities and stockholders' equity | 18,768,682 | 14,535,556 |
| External Links | |
| ADOBE INC. (ADBE) Fiscal Year 2018 | |
| 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 |