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: 2022 | |||
Consolidated Statements of Operations | |||
Period Ending Jan 31, 2023 10-K (Filed: Mar 8, 2023) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | |
| Revenues: | |||
| Total revenues | $ 31,352 | 26,492 | 21,252 |
| Cost of revenues: | |||
| Total cost of revenues | 8,360 | 7,026 | 5,438 |
| Gross profit | 22,992 | 19,466 | 15,814 |
| Operating expenses: | |||
| Research and development | 5,055 | 4,465 | 3,598 |
| Marketing and sales | 13,526 | 11,855 | 9,674 |
| General and administrative | 2,553 | 2,598 | 2,087 |
| Restructuring (Note 10) | 828 | 0 | 0 |
| Total operating expenses | 21,962 | 18,918 | 15,359 |
| Income from operations | 1,030 | 548 | 455 |
| Gains (losses) on strategic investments, net | (239) | 1,211 | 2,170 |
| Other expense | (131) | (227) | (64) |
| Income before benefit from (provision for) income taxes | 660 | 1,532 | 2,561 |
| Benefit from (provision for) income taxes | (452) | (88) [1] | 1,511 |
| Net income | 208 | 1,444 | 4,072 |
| Basic net income per share (in dollars per share) | 0.21 | 1.51 | 4.48 |
| Diluted net income per share (in dollars per share) | 0.21 | 1.48 | 4.38 |
| Shares used in computing basic net income per share (in shares) | 992 | 955 | 908 |
| Shares used in computing diluted net income per share (in shares) | 997 | 974 | 930 |
| Product and Service | |||
| Subscription and support | |||
| Total revenues | 29,021 | 24,657 | 19,976 |
| Total cost of revenues | 5,821 | 5,059 [2] | 4,154 |
| Professional services and other | |||
| Total revenues | 2,331 | 1,835 | 1,276 |
| Total cost of revenues | 2,539 | 1,967 | 1,284 |
| [1] During fiscal 2021, the Company recorded approximately $2.0 billion of a one-time benefit from a discrete tax item related to the recognition of deferred tax assets resulting from an intra-entity transfer of intangible property. | |||
| [2] Amounts include stock-based compensation expense, as follows: Fiscal Year Ended January 31, 202320222021Cost of revenues$499 $386 $241 Research and development1,136 918 703 Marketing and sales1,256 1,104 941 General and administrative368 371 305 Restructuring 20 0 0 | Amounts include amortization of intangible assets acquired through business combinations, as follows:Fiscal Year Ended January 31,202320222021Cost of revenues$1,035 $897 $662 Marketing and sales916 727 459 | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SALESFORCE, INC. | |||
Ticker: CRM Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Jan 31, 2023 10-K (Filed: Mar 8, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | |
| Net income | $ 208 | 1,444 | 4,072 |
| Other comprehensive income (loss), net of reclassification adjustments: | |||
| Foreign currency translation and other gains (losses) | (35) | (55) | 40 |
| Unrealized gains (losses) on marketable securities and privately held debt securities | (94) | (83) | 15 |
| Other comprehensive income (loss), before tax | (129) | (138) | 55 |
| Tax effect | 21 | 14 | (4) |
| Other comprehensive income (loss), net | (108) | (124) | 51 |
| Comprehensive income | 100 | 1,320 | 4,123 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SALESFORCE, INC. | |||
Ticker: CRM Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Jan 31, 2023 10-K (Filed: Mar 8, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | |
| Operating activities: | |||
| Net income | $ 208 | 1,444 | 4,072 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 3,786 | 3,298 [1] | 2,846 |
| Amortization of costs capitalized to obtain revenue contracts, net | 1,668 | 1,348 | 1,058 |
| Stock-based compensation expense | 3,279 | 2,779 | 2,190 |
| (Gains) losses on strategic investments, net | 239 | (1,211) | (2,170) |
| Tax benefit from intra-entity transfer of intangible property | 0 | 0 | (2,003) |
| Changes in assets and liabilities, net of business combinations: | |||
| Accounts receivable, net | (995) | (1,824) | (1,556) |
| Costs capitalized to obtain revenue contracts, net | (2,345) | (2,283) | (1,645) |
| Prepaid expenses and other current assets and other assets | (302) | 114 | (133) |
| Accounts payable and accrued expenses and other liabilities | 528 | 507 | 1,100 |
| Operating lease liabilities | (699) | (801) | (830) |
| Unearned revenue | 1,744 | 2,629 | 1,872 |
| Net cash provided by operating activities | 7,111 | 6,000 | 4,801 |
| Investing activities: | |||
| Business combinations, net of cash acquired | (439) | (14,876) | (1,281) |
| Purchases of strategic investments | (550) | (1,718) | (1,069) |
| Sales of strategic investments | 355 | 2,201 | 1,051 |
| Purchases of marketable securities | (4,777) | (5,674) | (4,833) |
| Sales of marketable securities | 1,771 | 4,179 | 1,836 |
| Maturities of marketable securities | 2,449 | 2,069 | 1,035 |
| Capital expenditures | (798) | (717) | (710) |
| Net cash used in investing activities | (1,989) | (14,536) | (3,971) |
| Financing activities: | |||
| Proceeds from issuance of debt, net of issuance costs | 0 | 7,906 | (20) |
| Repayments of Slack Convertible Notes, net of capped call proceeds | 0 | (1,197) | 0 |
| Repurchases of common stock | (4,000) | 0 | 0 |
| Proceeds from employee stock plans | 861 | 1,289 | 1,321 |
| Principal payments on financing obligations | (419) | (156) | (103) |
| Repayments of debt | (4) | (4) | (4) |
| Net cash provided by (used in) financing activities | (3,562) | 7,838 | 1,194 |
| Effect of exchange rate changes | (8) | (33) | 26 |
| Net increase (decrease) in cash and cash equivalents | 1,552 | (731) | 2,050 |
| Cash and cash equivalents, beginning of period | 5,464 | 6,195 | |
| Cash and cash equivalents, end of period | 7,016 | 5,464 | 6,195 |
| Supplemental cash flow disclosure: | |||
| Cash paid during the period for: | |||
| Interest | 275 | 187 | 96 |
| Income taxes, net of tax refunds | 510 | 196 | 216 |
| Non-cash investing and financing activities: | |||
| Fair value of equity awards assumed | 7 | 205 | 6 |
| Fair value of common stock issued as consideration for business combinations | 0 | 11,064 | 0 |
| [1] Includes amortization of intangible assets acquired through business combinations, depreciation of fixed assets and amortization of right of use assets. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
SALESFORCE, INC. | ||
Ticker: CRM Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Jan 31, 2023 10-K (Filed: Mar 8, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Jan 31, 2023 | Jan 31, 2022 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 7,016 | 5,464 |
| Marketable securities | 5,492 | 5,073 |
| Accounts receivable, net | 10,755 | 9,739 |
| Costs capitalized to obtain revenue contracts, net | 1,776 | 1,454 |
| Prepaid expenses and other current assets | 1,356 | 1,120 |
| Total current assets | 26,395 | 22,850 |
| Property and equipment, net | 3,702 | 2,815 |
| Operating lease right-of-use assets, net | 2,890 | 2,880 |
| Noncurrent costs capitalized to obtain revenue contracts, net | 2,697 | 2,342 |
| Strategic investments | 4,672 | 4,784 |
| Goodwill | 48,568 | 47,937 |
| Intangible assets acquired through business combinations, net | 7,125 | 8,978 |
| Deferred tax assets and other assets, net | 2,800 | 2,623 |
| Total assets | 98,849 | 95,209 |
| Liabilities and stockholders equity | ||
| Current liabilities: | ||
| Accounts payable, accrued expenses and other liabilities | 6,743 | 5,470 |
| Operating lease liabilities, current | 590 | 686 |
| Unearned revenue | 17,376 | 15,628 |
| Debt, current | 1,182 | 4 |
| Total current liabilities | 25,891 | 21,788 |
| Noncurrent debt | 9,419 | 10,592 |
| Noncurrent operating lease liabilities | 2,897 | 2,703 |
| Other noncurrent liabilities | 2,283 | 1,995 |
| Total liabilities | 40,490 | 37,078 |
| Commitments and contingencies (See Notes 6 and 14) | ||
| 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, 1,009 and 989 issued and outstanding at January 31, 2023 and 2022, respectively | 1 | 1 |
| Treasury stock, at cost | (4,000) | 0 |
| Additional paid-in capital | 55,047 | 50,919 |
| Accumulated other comprehensive loss | (274) | (166) |
| Retained earnings | 7,585 | 7,377 |
| Total stockholders equity | 58,359 | 58,131 |
| Total liabilities and stockholders equity | 98,849 | 95,209 |
| External Links | |
| SALESFORCE, INC. (CRM) Fiscal Year 2022 | |