10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SALESFORCE, INC. | |||
Ticker: CRM Fiscal Year: 2016 | |||
Consolidated Statements of Operations | |||
Period Ending Jan 31, 2017 10-K (Filed: Mar 6, 2017) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | |
| Revenues: | |||
| Subscription and support | $ 7,756,205 | 6,205,599 | 5,013,764 |
| Professional services and other | 635,779 | 461,617 | 359,822 |
| Total revenues | 8,391,984 | 6,667,216 | 5,373,586 |
| Cost of revenues: | |||
| Subscription and support | 1,556,353 | 1,188,967 | 924,638 |
| Professional services and other | 677,686 | 465,581 | 364,632 |
| Total cost of revenues | 2,234,039 | 1,654,548 | 1,289,270 |
| Gross profit | 6,157,945 | 5,012,668 | 4,084,316 |
| Operating expenses: | |||
| Research and development | 1,208,127 [1] | 946,300 | 792,917 |
| Marketing and sales | 3,918,027 | 3,239,824 | 2,757,096 |
| General and administrative | 967,563 | 748,238 | 679,936 |
| Operating lease termination resulting from purchase of 50 Fremont | 0 | (36,617) | 0 |
| Total operating expenses | 6,093,717 | 4,897,745 | 4,229,949 |
| Income (loss) from operations | 64,228 | 114,923 | (145,633) |
| Investment income | 27,374 | 15,341 | 10,038 |
| Interest expense | (88,988) | (72,485) | (73,237) |
| Other income (expense) | 9,072 | (15,292) | (19,878) |
| Gain on sales of land and building improvements | 0 | 21,792 | 15,625 |
| Gains from acquisitions of strategic investments | 13,697 | 0 | 0 |
| Income (loss) before benefit from (provision for) income taxes | 25,383 | 64,279 | (213,085) |
| Benefit from (provision for) income taxes | 154,249 | (111,705) [2] | (49,603) |
| Net income (loss) | 179,632 | (47,426) | (262,688) |
| Basic net income (loss) per share (in dollars per share) | 0.26 | (0.07) | (0.42) |
| Diluted net income (loss) per share (in dollars per share) | 0.26 | (0.07) | (0.42) |
| Shares used in computing basic net income (loss) per share (in shares) | 687,797 | 661,647 | 624,148 |
| Shares used in computing diluted net income (loss) per share (in shares) | 700,217 | 661,647 | 624,148 |
| [1] Amounts include stock-based expenses, as follows: Fiscal Year Ended January 31, 2017 2016 2015Cost of revenues $107,457 $69,443 $53,812Research and development 187,487 129,434 121,193Marketing and sales 388,937 289,152 286,410General and administrative 136,486 105,599 103,350 | Amounts include amortization of purchased intangibles from business combinations, as follows: Fiscal Year Ended January 31, 2017 2016 2015Cost of revenues $127,676 $80,918 $90,300Marketing and sales 97,601 77,152 64,673Other non-oper | |||
| [2] Amounts include a $210.3 million tax benefit recorded during fiscal 2017 as a result of the release of a portion of the valuation allowance related to the Demandware, Inc. acquisition. See Note 11 Income Taxes. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SALESFORCE, INC. | |||
Ticker: CRM Fiscal Year: 2016 | |||
Consolidated Statements of Comprehensive Income (Loss) | |||
Period Ending Jan 31, 2017 10-K (Filed: Mar 6, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | |
| Net income (loss) | $ 179,632 | (47,426) | (262,688) |
| Other comprehensive income (loss), before tax and net of reclassification adjustments: | |||
| Foreign currency translation and other losses | (43,070) | (16,616) | (43,276) |
| Unrealized gains (losses) on investments | 14,500 | (9,193) | 1,488 |
| Other comprehensive loss, before tax | (28,570) | (25,809) | (41,788) |
| Tax effect | 2,646 | 0 | 0 |
| Other comprehensive loss, net of tax | (25,924) | (25,809) | (41,788) |
| Comprehensive income (loss) | 153,708 | (73,235) | (304,476) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SALESFORCE, INC. | |||
Ticker: CRM Fiscal Year: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Jan 31, 2017 10-K (Filed: Mar 6, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | |
| Operating activities: | |||
| Net income (loss) | $ 179,632 | (47,426) | (262,688) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 632,245 | 525,750 | 448,296 |
| Amortization of debt discount and transaction costs | 30,541 | 27,467 | 39,620 |
| Gain on sales of land and building improvements | 0 | (21,792) | (15,625) |
| Gains from acquisitions of strategic investments | (13,697) | 0 | 0 |
| 50 Fremont lease termination | 0 | (36,617) | 0 |
| Loss on conversions of convertible senior notes | 0 | 0 | 10,326 |
| Amortization of deferred commissions | 371,541 | 319,074 | 257,642 |
| Expenses related to employee stock plans | 820,367 | 593,628 | 564,765 |
| Changes in assets and liabilities, net of business combinations: | |||
| Accounts receivable, net | (628,477) | (582,425) | (544,610) |
| Deferred commissions | (462,030) | (380,022) | (320,904) |
| Prepaid expenses and other current assets and other assets | (28,850) | 50,772 | 45,819 |
| Accounts payable, accrued expenses and other liabilities | 49,953 | 253,986 | 159,973 |
| Deferred revenue | 1,210,973 | 969,686 | 798,830 |
| Net cash provided by operating activities | 2,162,198 | 1,672,081 [1] | 1,181,444 |
| Investing activities: | |||
| Business combinations, net of cash acquired | (3,192,739) | (58,680) | 38,071 |
| Proceeds from land and building improvements held for sale | 0 | 127,066 | 223,240 |
| Purchase of 50 Fremont land and building | 0 | (425,376) | 0 |
| Deposit and withdrawal for purchase of 50 Fremont land and building | 0 | 115,015 | (126,435) |
| Non-refundable amounts received for sale of land and building | 0 | 6,284 | 0 |
| Strategic investments | (29,987) | (366,519) | (93,725) |
| Purchases of marketable securities | (1,070,412) | (1,139,267) | (780,540) |
| Sales of marketable securities | 2,005,301 | 500,264 | 243,845 |
| Maturities of marketable securities | 67,454 | 37,811 | 87,638 |
| Capital expenditures | (463,958) | (284,476) | (290,454) |
| Net cash used in investing activities | (2,684,341) | (1,487,878) | (698,360) |
| Financing activities: | |||
| Proceeds from revolving credit facility, net | 748,824 | 0 | 297,325 |
| Payments on revolving credit facility, net | (550,000) | (300,000) | 0 |
| Proceeds from (payments on) term loan, net | 495,550 | 0 | (285,000) |
| Proceeds from employee stock plans | 401,481 | 455,482 | 308,989 |
| Payments on convertible senior notes | 0 | 0 | (568,862) |
| Principal payments on capital lease obligations | (98,157) | (82,330) | (70,663) |
| Net cash provided by (used in) financing activities | 997,698 | 73,152 | (318,211) |
| Effect of exchange rate changes | (27,369) | (7,109) | (38,391) |
| Net increase in cash and cash equivalents | 448,186 | 250,246 | 126,482 |
| Cash and cash equivalents, beginning of period | 1,158,363 | 908,117 | |
| Cash and cash equivalents, end of period | 1,606,549 | 1,158,363 | 908,117 |
| Supplemental cash flow disclosure: | |||
| Cash paid during the period for: | |||
| Interest | 54,999 | 37,954 | 24,684 |
| Income taxes, net of tax refunds | 36,388 | 31,462 | 36,219 |
| Non-cash financing and investing activities: | |||
| Fixed assets acquired under capital leases | 585 | 12,948 | 124,099 |
| Building- leased facility acquired under financing obligation | 0 | 77,057 | 85,118 |
| Fair value of equity awards assumed | 103,267 | 0 | 1,050 |
| Fair value of common stock issued as consideration for business combinations | 1,088,917 | 0 | 338,033 |
| Fair value of loan assumed on 50 Fremont | 0 | 198,751 | 0 |
| Non-cash equity liability (Note 9) | 68,355 | 0 | 0 |
| [1] As of the start of fiscal 2017, the Company early adopted Accounting Standards Update No. 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718) (ASU 2016-09), which addresses among other items, updates to the presentation and treatment of excess tax benefits related to stock based compensation. Excess tax benefits are no longer classified as a reduction of operating cash flows. The Company has adopted changes to the consolidated statements of cash flows on a retrospective basis. T | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
SALESFORCE, INC. | ||
Ticker: CRM Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Jan 31, 2017 10-K (Filed: Mar 6, 2017) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Jan 31, 2017 | Jan 31, 2016 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,606,549 | 1,158,363 |
| Marketable securities | 602,338 | 1,567,014 |
| Accounts receivable, net of allowance for doubtful accounts of $12,039 and $10,488 at January 31, 2017 and 2016, respectively | 3,196,643 | 2,496,165 |
| Deferred commissions | 311,770 | 259,187 |
| Prepaid expenses and other current assets | 279,527 | 250,594 |
| Total current assets | 5,996,827 | 5,731,323 |
| Property and equipment, net | 1,787,534 | 1,715,828 |
| Deferred commissions, noncurrent | 227,849 | 189,943 |
| Capitalized software, net | 141,671 | 123,065 |
| Strategic investments | 566,953 | 520,721 |
| Goodwill | 7,263,846 | 3,849,937 |
| Intangible assets acquired through business combinations, net | 1,113,374 | 490,006 |
| Other assets, net | 486,869 | 142,097 |
| Total assets | 17,584,923 | 12,762,920 |
| Liabilities and stockholders equity | ||
| Current liabilities: | ||
| Accounts payable, accrued expenses and other liabilities | 1,752,664 | 1,349,338 |
| Deferred revenue | 5,505,689 | 4,267,667 |
| Total current liabilities | 7,258,353 | 5,617,005 |
| Deferred revenue, noncurrent | 37,113 | 23,886 |
| Convertible 0.25% senior notes, net | 1,116,360 | 1,088,097 |
| Term loan | 497,221 | 0 |
| Loan assumed on 50 Fremont | 198,268 | 197,998 |
| Revolving credit facility | 196,542 | 0 |
| Other noncurrent liabilities | 780,939 | 833,065 |
| Total liabilities | 10,084,796 | 7,760,051 |
| Commitments and contingencies (Notes 13 and 15) | ||
| Stockholders equity: | ||
| Preferred stock, $0.001 par value; 5,000 shares authorized and none issued and outstanding | 0 | 0 |
| Common stock, $0.001 par value; 1,600,000 shares authorized, 707,460 and 670,929 issued and outstanding at January 31, 2017 and 2016, respectively | 708 | 671 |
| Additional paid-in capital | 8,040,170 | 5,705,386 |
| Accumulated other comprehensive loss | (75,841) | (49,917) |
| Accumulated deficit (Note 1) | (464,910) | (653,271) |
| Total stockholders equity | 7,500,127 | 5,002,869 |
| Total liabilities and stockholders equity | 17,584,923 | 12,762,920 |
| External Links | |
| SALESFORCE, INC. (CRM) 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 |