10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUIT INC | |||
Ticker: INTU Fiscal Year: 2016 | |||
Consolidated Statements of Operations | |||
Period Ending July 31, 2016 10-K (Filed: Sept 1, 2016) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| July 31, 2016 | July 31, 2015 | July 31, 2014 | |
| Net revenue: | |||
| Product | $ 1,289 | 1,146 | 1,459 |
| Service and other | 3,405 | 3,046 | 2,784 |
| Total net revenue | 4,694 | 4,192 | 4,243 |
| Costs and expenses: | |||
| Cost of revenue: | |||
| Cost of product revenue | 131 | 139 | 137 |
| Cost of service and other revenue | 599 | 556 | 466 |
| Amortization of acquired technology | 22 | 30 | 18 |
| Selling and marketing | 1,289 | 1,288 | 1,157 |
| Research and development | 881 | 798 | 714 |
| General and administrative | 518 | 483 | 444 |
| Amortization of other acquired intangible assets | 12 | 12 | 7 |
| Goodwill and intangible asset impairment charges | 0 | 148 | 0 |
| Total costs and expenses | 3,452 | 3,454 | 2,943 |
| Operating income from continuing operations | 1,242 | 738 | 1,300 |
| Interest expense | (35) | (27) | (31) |
| Interest and other income (expense), net | (4) | 1 | 31 |
| Income from continuing operations before income taxes | 1,203 | 712 | 1,300 |
| Income tax provision | 397 | 299 | 447 |
| Net income from continuing operations | 806 | 413 | 853 |
| Net income (loss) from discontinued operations | 173 | (48) | 54 |
| Net income | 979 | 365 | 907 |
| Basic net income per share from continuing operations | 3.08 | 1.47 | 2.99 |
| Basic net income (loss) per share from discontinued operations | 0.65 | (0.17) | 0.19 |
| Basic net income per share | 3.73 | 1.30 | 3.18 |
| Shares used in basic per share calculations | 262 | 281 | 285 |
| Diluted net income per share from continuing operations | 3.04 | 1.45 | 2.94 |
| Diluted net income (loss) per share from discontinued operations | 0.65 | (0.17) | 0.18 |
| Diluted net income per share | 3.69 | 1.28 | 3.12 |
| Shares used in diluted per share calculations | 265 | 286 | 291 |
| Cash dividends declared per common share | 1.20 | 1.00 | 0.76 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUIT INC | |||
Ticker: INTU Fiscal Year: 2016 | |||
Consolidated Statement of Comprehensive Income Statement | |||
Period Ending July 31, 2016 10-K (Filed: Sept 1, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| July 31, 2016 | July 31, 2015 | July 31, 2014 | |
| Net income | $ 979 | 365 | 907 |
| Other comprehensive income (loss), net of income taxes: | |||
| Realized gain reclassified to net income | 0 | 0 [1] | (13) |
| Foreign currency translation losses | (3) | (27) | (5) |
| Total other comprehensive loss, net | (2) | (28) | (22) |
| Comprehensive income | 977 | 337 | 885 |
| Major Types of Debt and Equity Securities | |||
| Debt Securities | |||
| Unrealized gains (losses) on available-for-sale securities | 1 | (1) | 1 |
| Equity Securities | |||
| Unrealized gains (losses) on available-for-sale securities | 0 | 0 | (5) |
| Income Statement Location | |||
| Interest and Other Income | |||
| Realized gain reclassified to net income | 21 | ||
| Income Taxes | |||
| Related taxes on realized gain reclassified to net income | 8 | ||
| [1] Includes $21 million of realized gain on an available-for-sale equity security reclassified into interest and other income (expense), net on the consolidated statements of operations and $8 million of related income taxes. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUIT INC | |||
Ticker: INTU Fiscal Year: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending July 31, 2016 10-K (Filed: Sept 1, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| July 31, 2016 | July 31, 2015 | July 31, 2014 | |
| Cash flows from operating activities: | |||
| Net income | $ 979 | 365 | 907 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 195 | 157 | 144 |
| Amortization of acquired intangible assets | 43 | 74 | 53 |
| Goodwill and intangible asset impairment charges | 0 | 297 | 0 |
| Share-based compensation expense | 281 | 257 | 204 |
| Pre-tax gain on sale of discontinued operations (1) | (354) | 0 | (40) |
| Net realized gain on sale of available-for-sale equity securities | 0 | 0 | (21) |
| Deferred income taxes | 70 | (100) | 93 |
| Tax benefit from share-based compensation plans | 59 | 85 | 82 |
| Excess tax benefit from share-based compensation plans | (59) | (85) | (82) |
| Other | 17 | 4 | 24 |
| Total adjustments | 252 | 689 | 457 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (20) | 24 | (5) |
| Income taxes receivable | 64 | (49) | 27 |
| Prepaid expenses and other assets | (10) | 22 | (14) |
| Accounts payable | (23) | 35 | 15 |
| Accrued compensation and related liabilities | (11) | 24 | 43 |
| Deferred revenue | 192 | 398 | 15 |
| Other liabilities | (22) | (4) | 1 |
| Total changes in operating assets and liabilities | 170 | 450 | 82 |
| Net cash provided by operating activities | 1,401 | 1,504 | 1,446 |
| Cash flows from investing activities: | |||
| Purchases of corporate and customer fund investments | (934) | (939) | (1,334) |
| Sales of corporate and customer fund investments | 1,165 | 620 | 346 |
| Maturities of corporate and customer fund investments | 187 | 475 | 567 |
| Net change in money market funds and other cash equivalents held to satisfy customer fund obligations | 58 | (49) | (54) |
| Net change in customer fund deposits | (33) | 49 | 54 |
| Proceeds from the sale of available-for-sale equity securities | 0 | 0 | 26 |
| Purchases of property and equipment | (416) | (142) | (104) |
| Capitalization of internal use software | (106) | (119) | (82) |
| Acquisitions of businesses, net of cash acquired | 0 | (95) | (471) |
| Proceeds from divestiture of businesses | 463 | 0 | 1,025 |
| Other | (13) | 18 | (22) |
| Net cash provided by (used in) investing activities | 371 | (182) | (49) |
| Cash flows from financing activities: | |||
| Proceeds from borrowings under revolving credit facilities | 995 | 0 | 0 |
| Repayments on borrowings under revolving credit facilities | (995) | 0 | 0 |
| Proceeds from long-term debt | 500 | 0 | 0 |
| Net proceeds from issuance of stock under employee stock plans | 89 | 107 | 165 |
| Cash paid for purchases of treasury stock | (2,264) | (1,245) | (1,577) |
| Dividends and dividend rights paid | (318) | (283) | (220) |
| Excess tax benefit from share-based compensation plans | 59 | 85 | 82 |
| Other | (6) | (1) | (1) |
| Net cash used in financing activities | (1,940) | (1,337) | (1,551) |
| Effect of exchange rates on cash and cash equivalents | (2) | (26) | (6) |
| Net decrease in cash and cash equivalents | (170) | (41) | (160) |
| Cash and cash equivalents at beginning of period | 808 | 849 | |
| Cash and cash equivalents at end of period | 638 | 808 | 849 |
| Supplemental disclosure of cash flow information: | |||
| Interest paid | 37 | 32 | 32 |
| Income taxes paid | 389 | 222 | 240 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUIT INC | ||
Ticker: INTU Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending July 31, 2016 10-K (Filed: Sept 1, 2016) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| July 31, 2016 | July 31, 2015 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 638 | 808 |
| Investments | 442 | 889 |
| Accounts receivable, net of allowance for doubtful accounts of $51 and $45 | 108 | 91 |
| Income taxes receivable | 20 | 84 |
| Deferred income taxes | 0 | 231 |
| Prepaid expenses and other current assets | 102 | 94 |
| Current assets of discontinued operations | 0 | 26 |
| Current assets before funds held for customers | 1,310 | 2,223 |
| Funds held for customers | 304 | 337 |
| Total current assets | 1,614 | 2,560 |
| Long-term investments | 28 | 27 |
| Property and equipment, net | 1,031 | 682 |
| Goodwill | 1,282 | 1,266 |
| Acquired intangible assets, net | 44 | 87 |
| Long-term deferred income taxes | 139 | 5 |
| Other assets | 112 | 106 |
| Long-term assets of discontinued operations | 0 | 235 |
| Total assets | 4,250 | 4,968 |
| LIABILITIES AND STOCKHOLDERS EQUITY | ||
| Current liabilities: | ||
| Short-term debt | 512 | 0 |
| Accounts payable | 184 | 190 |
| Accrued compensation and related liabilities | 289 | 283 |
| Deferred revenue | 801 | 691 |
| Other current liabilities | 161 | 150 |
| Current liabilities of discontinued operations | 0 | 93 |
| Current liabilities before customer fund deposits | 1,947 | 1,407 |
| Customer fund deposits | 304 | 337 |
| Total current liabilities | 2,251 | 1,744 |
| Long-term debt | 488 | 500 |
| Long-term deferred revenue | 204 | 152 |
| Other long-term obligations | 146 | 172 |
| Long-term obligations of discontinued operations | 0 | 68 |
| Total liabilities | 3,089 | 2,636 |
| Commitments and contingencies | ||
| Stockholders equity: | ||
| Preferred stock, $0.01 par value Authorized - 1,345 shares total; 145 shares designated Series A; 250 shares designated Series B Junior Participating Issued and outstanding - None | 0 | 0 |
| Common stock, $0.01 par value Authorized - 750,000 shares Outstanding - 257,853 shares at July 31, 2016 and 277,706 shares at July 31, 2015 | 3 | 3 |
| Additional paid-in capital | 4,442 | 4,007 |
| Treasury stock, at cost | (9,939) | (7,675) |
| Accumulated other comprehensive loss | (32) | (30) |
| Retained earnings | 6,687 | 6,027 |
| Total stockholders equity | 1,161 | 2,332 |
| Total liabilities and stockholders equity | 4,250 | 4,968 |
| External Links | |
| INTUIT INC (INTU) 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 |