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: 2019 | |||
Condensed Consolidated Statements of Operations | |||
Period Ending Jan 31, 2020 10-K (Filed: Mar 5, 2020) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 31, 2020 | Jan 31, 2019 | Jan 31, 2018 | |
| Revenues: | |||
| Total revenues | $ 17,098 | 13,282 | 10,540 |
| Cost of revenues: | |||
| Total cost of revenues | 4,235 | 3,451 | 2,773 |
| Gross profit | 12,863 | 9,831 | 7,767 |
| Operating expenses: | |||
| Research and development | 2,766 | 1,886 | 1,553 |
| Marketing and sales | 7,930 | 6,064 | 4,671 |
| General and administrative | 1,704 | 1,346 [1] | 1,089 |
| Loss on settlement of Salesforce.org reseller agreement (Note 7) | 166 | 0 | 0 |
| Total operating expenses | 12,566 | 9,296 | 7,313 |
| Income from operations | 297 | 535 | 454 |
| Gains on strategic investments, net | 427 | 542 | 19 |
| Other expense | (18) | (94) | (53) |
| Income before benefit from (provision for) income taxes | 706 | 983 | 420 |
| Benefit from (provision for) income taxes (3) | (580) | 127 | (60) [2] |
| Net income | 126 | 1,110 | 360 |
| Basic net income per share (in dollars per share) | 0.15 | 1.48 | 0.50 |
| Diluted net income per share (in dollars per share) | 0.15 | 1.43 | 0.49 |
| Shares used in computing basic net income per share (in shares) | 829 | 751 | 715 |
| Shares used in computing diluted net income per share (in shares) | 850 | 775 | 735 |
| Product and Service | |||
| Subscription and support | |||
| Total revenues | 16,043 | 12,413 | 9,766 |
| Total cost of revenues | 3,198 | 2,604 | 2,033 |
| Professional services and other | |||
| Total revenues | 1,055 | 869 | 774 |
| Total cost of revenues | 1,037 | 847 | 740 |
| [2] Amounts include a benefit related to the partial release of the valuation allowance of $612 million, and $2 million, for fiscal 2019 and 2018, respectively. The fiscal 2019 benefit was partially offset by an increase in unrecognized tax benefits. | |||
| [1] Amounts include stock-based expense, as follows: Fiscal Year Ended January 31, 202020192018Cost of revenues$204 $161 $130 Research and development510 307 260 Marketing and sales852 643 469 General and administrative219 172 138 | Amounts include amortization of intangible assets acquired through business combinations, as follows: Fiscal Year Ended January 31, 202020192018Cost of revenues$440 $215 $166 Marketing and sales352 232 121 | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SALESFORCE, INC. | |||
Ticker: CRM Fiscal Year: 2019 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Jan 31, 2020 10-K (Filed: Mar 5, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 31, 2020 | Jan 31, 2019 | Jan 31, 2018 | |
| Net income (loss) | $ 126 | 1,110 | 360 |
| Other comprehensive income (loss), net of reclassification adjustments: | |||
| Foreign currency translation and other losses | (59) | (26) | 77 |
| Unrealized gains (losses) on marketable securities and privately held debt securities | 26 | (12) | (4) |
| Other comprehensive income (loss), before tax | (33) | (38) | 73 |
| Tax effect | (2) | (1) | 1 |
| Other comprehensive income (loss), net | (35) | (39) | 74 |
| Comprehensive income | 91 | 1,071 | 434 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SALESFORCE, INC. | |||
Ticker: CRM Fiscal Year: 2019 | |||
Condensed Consolidated Statements of Cash Flows | |||
Period Ending Jan 31, 2020 10-K (Filed: Mar 5, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 31, 2020 | Jan 31, 2019 | Jan 31, 2018 | |
| Operating activities: | |||
| Net income (loss) | $ 126 | 1,110 | 360 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 2,135 | 982 | 784 |
| Amortization of costs capitalized to obtain revenue contracts, net | 876 | 737 | 592 |
| Expenses related to employee stock plans | 1,785 | 1,283 | 997 |
| Loss on settlement of Salesforce.org reseller agreement (Note 7) | 166 | 0 | 0 |
| Gains on strategic investments, net | (427) | (542) | (19) |
| Changes in assets and liabilities, net of business combinations: | |||
| Accounts receivable, net | (1,000) | (923) | (719) |
| Costs capitalized to obtain revenue contracts, net | (1,130) | (981) | (1,156) |
| Prepaid expenses and other current assets and other assets | (119) | (58) | 18 |
| Accounts payable | 15 | 74 | (39) |
| Accrued expenses and other liabilities | 967 | 213 | 392 |
| Operating lease liabilities | (728) | ||
| Unearned revenue | 1,665 | 1,503 | 1,528 |
| Net cash provided by operating activities | 4,331 | 3,398 | 2,738 |
| Investing activities: | |||
| Business combinations, net of cash acquired | (369) | (5,115) | (25) |
| Purchases of strategic investments | (768) | (362) | (216) |
| Sales of strategic investments | 434 | 260 | 131 |
| Purchases of marketable securities | (3,857) | (1,068) | (2,003) |
| Sales of marketable securities | 1,444 | 1,426 | 558 |
| Maturities of marketable securities | 779 | 146 | 78 |
| Capital expenditures | (643) | (595) | (534) |
| Net cash used in investing activities | (2,980) | (5,308) | (2,011) |
| Financing activities: | |||
| Proceeds from issuance of debt, net | 0 | 2,966 | 0 |
| Proceeds from employee stock plans | 840 | 704 | 650 |
| Principal payments on financing obligations | (173) | (131) [1] | (106) |
| Repayments of debt | (503) | (1,529) | (323) |
| Net cash provided by financing activities | 164 | 2,010 | 221 |
| Effect of exchange rate changes | (39) | 26 | (12) |
| Net increase in cash and cash equivalents | 1,476 | 126 | 936 |
| Cash and cash equivalents, beginning of period | 2,669 | 2,543 | |
| Cash and cash equivalents, end of period | 4,145 | 2,669 | 2,543 |
| Supplemental cash flow disclosure: | |||
| Cash paid during the period for: | |||
| Interest | 106 | 94 | 40 |
| Income taxes, net of tax refunds | 129 | 83 | 53 |
| Non-cash investing and financing activities: | |||
| Fair value of equity awards assumed | 373 | 480 | 0 |
| Fair value of common stock issued as consideration for business combinations | 15,215 | 1,715 | 12 |
| [1] Previously referred to as principal payments on capital lease obligations. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
SALESFORCE, INC. | ||
Ticker: CRM Fiscal Year: 2019 | ||
Consolidated Balance Sheets | ||
Period Ending Jan 31, 2020 10-K (Filed: Mar 5, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Jan 31, 2020 | Jan 31, 2019 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 4,145 | 2,669 |
| Marketable securities | 3,802 | 1,673 |
| Accounts receivable, net | 6,174 | 4,924 |
| Costs capitalized to obtain revenue contracts, net | 926 | 788 |
| Prepaid expenses and other current assets | 916 | 629 |
| Total current assets | 15,963 | 10,683 |
| Property, Plant and Equipment, Net | 2,375 | 2,051 |
| Operating lease right-of-use assets (Note 1) | 3,040 | |
| Costs capitalized to obtain revenue contracts, noncurrent, net | 1,348 | 1,232 |
| Strategic investments | 1,963 | 1,302 |
| Goodwill | 25,134 | 12,851 |
| Intangible assets acquired through business combinations, net | 4,724 | 1,923 |
| Capitalized software and other assets, net | 579 | 695 |
| Total assets | 55,126 | 30,737 |
| Liabilities and stockholders equity | ||
| Current liabilities: | ||
| Accounts payable, accrued expenses and other liabilities | 3,433 | 2,691 |
| Operating lease liabilities, current (Note 1) | 750 | |
| Unearned revenue | 10,662 | 8,564 |
| Total current liabilities | 14,845 | 11,255 |
| Noncurrent debt | 2,673 | 3,173 |
| Noncurrent operating lease liabilities (Note 1) | 2,445 | |
| Other noncurrent liabilities | 1,278 | 704 |
| Total liabilities | 21,241 | 15,132 |
| Stockholders equity: | ||
| Preferred stock, $0.001 par value; 5 shares authorized and none issued and outstanding | 0 | 0 |
| Common stock, $0.001 par value; 1,600 shares authorized, 893 and 770 issued and outstanding at January 31, 2020 and 2019, respectively | 1 | 1 |
| Additional paid-in capital | 32,116 | 13,927 |
| Accumulated other comprehensive loss | (93) | (58) |
| Retained earnings | 1,861 | 1,735 |
| Total stockholders equity | 33,885 | 15,605 |
| Total liabilities and stockholders equity | 55,126 | 30,737 |
| External Links | |
| SALESFORCE, INC. (CRM) Fiscal Year 2019 | |
| 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 |