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: 2017 | |||
Consolidated Statements of Operations | |||
Period Ending July 31, 2017 10-K (Filed: Sept 1, 2017) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| July 31, 2017 | July 31, 2016 | July 31, 2015 | |
| Net revenue: | |||
| Product | $ 1,376 | 1,289 | 1,146 |
| Service and other | 3,801 | 3,405 | 3,046 |
| Total net revenue | 5,177 | 4,694 | 4,192 |
| Costs and expenses: | |||
| Cost of revenue: | |||
| Cost of product revenue | 120 | 131 | 139 |
| Cost of service and other revenue | 677 | 599 | 556 |
| Amortization of acquired technology | 12 | 22 | 30 |
| Selling and marketing | 1,420 | 1,289 | 1,288 |
| Research and development | 998 | 881 | 798 |
| General and administrative | 553 | 518 | 483 |
| Amortization of other acquired intangible assets | 2 | 12 | 12 |
| Goodwill and intangible asset impairment charges | 0 | 0 | 148 |
| Total costs and expenses | 3,782 | 3,452 | 3,454 |
| Operating income from continuing operations | 1,395 | 1,242 | 738 |
| Interest expense | (31) | (35) | (27) |
| Interest and other income (expense), net | 3 | (4) | 1 |
| Income from continuing operations before income taxes | 1,367 | 1,203 | 712 |
| Income tax provision | 396 | 397 | 299 |
| Net income from continuing operations | 971 | 806 | 413 |
| Net income (loss) from discontinued operations | 0 | 173 | (48) |
| Net income | 971 | 979 | 365 |
| Basic net income per share from continuing operations (in dollars per share) | 3.78 | 3.08 | 1.47 |
| Basic net income (loss) per share from discontinued operations (in dollars per share) | 0.00 | 0.65 | (0.17) |
| Basic net income per share (in dollars per share) | 3.78 | 3.73 | 1.30 |
| Shares used in basic per share calculations (in shares) | 257 | 262 | 281 |
| Diluted net income per share from continuing operations (in dollars per share) | 3.72 | 3.04 | 1.45 |
| Diluted net income (loss) per share from discontinued operations (in dollars per share) | 0.00 | 0.65 | (0.17) |
| Diluted net income per share (in dollars per share) | 3.72 | 3.69 | 1.28 |
| Shares used in diluted per share calculations (in shares) | 261 | 265 | 286 |
| Cash dividends declared per common share (in dollars per share) | 1.36 | 1.20 | 1.00 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUIT INC | |||
Ticker: INTU Fiscal Year: 2017 | |||
Consolidated Statements of Comprehensive Income Statement | |||
Period Ending July 31, 2017 10-K (Filed: Sept 1, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| July 31, 2017 | July 31, 2016 | July 31, 2015 | |
| Net income | $ 971 | 979 | 365 |
| Other comprehensive income (loss), net of income taxes: | |||
| Unrealized gain (loss) on available-for-sale debt securities | (1) | 1 | (1) |
| Foreign currency translation gain (loss) | 11 | (3) | (27) |
| Total other comprehensive income (loss), net | 10 | (2) | (28) |
| Comprehensive income | 981 | 977 | 337 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUIT INC | |||
Ticker: INTU Fiscal Year: 2017 | |||
Consolidated Statements of Cash Flows | |||
Period Ending July 31, 2017 10-K (Filed: Sept 1, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| July 31, 2017 | July 31, 2016 | July 31, 2015 | |
| Cash flows from operating activities: | |||
| Net income | $ 971 | 979 | 365 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 214 | 195 | 157 |
| Amortization of acquired intangible assets | 22 | 43 | 74 |
| Goodwill and intangible asset impairment charges | 0 | 0 | 297 |
| Share-based compensation expense | 326 | 281 | 257 |
| Pre-tax gain on sale of discontinued operations | 0 [1] | (354) | 0 |
| Deferred income taxes | 8 | 70 | (100) |
| Tax benefit from share-based compensation plans | 0 | 59 | 85 |
| Other | 13 | 17 | 4 |
| Total adjustments | 583 | 311 | 774 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 5 | (20) | 24 |
| Income taxes receivable | (44) | 64 | (49) |
| Prepaid expenses and other assets | (9) | (10) | 22 |
| Accounts payable | 0 | (23) | 35 |
| Accrued compensation and related liabilities | 10 | (11) | 24 |
| Deferred revenue | 83 | 192 | 398 |
| Other liabilities | 0 | (22) | (4) |
| Total changes in operating assets and liabilities | 45 | 170 | 450 |
| Net cash provided by operating activities | 1,599 | 1,460 | 1,589 |
| Cash flows from investing activities: | |||
| Purchases of corporate and customer fund investments | (352) | (934) | (939) |
| Sales of corporate and customer fund investments | 359 | 1,165 | 620 |
| Maturities of corporate and customer fund investments | 183 | 187 | 475 |
| Net change in cash and cash equivalents held to satisfy customer fund obligations | (68) | 58 | (49) |
| Net change in customer fund deposits | 68 | (33) | 49 |
| Purchases of property and equipment | (102) | (416) | (142) |
| Capitalization of internal use software | (128) | (106) | (119) |
| Acquisitions of businesses, net of cash acquired | 0 | 0 | (95) |
| Proceeds from divestiture of businesses | 0 | 463 | 0 |
| Other | (45) | (13) | 18 |
| Net cash provided by (used in) investing activities | (85) | 371 | (182) |
| Cash flows from financing activities: | |||
| Proceeds from borrowings under revolving credit facilities | 150 | 995 | 0 |
| Repayments on borrowings under revolving credit facilities | (150) | (995) | 0 |
| Proceeds from long-term debt | 0 | 500 | 0 |
| Repayment of debt | (512) | 0 | 0 |
| Proceeds from issuance of stock under employee stock plans | 226 | 197 | 220 |
| Payments for employee taxes withheld upon vesting of restricted stock units | (153) | (108) | (113) |
| Cash paid for purchases of treasury stock | (839) | (2,264) | (1,245) |
| Dividends and dividend rights paid | (353) | (318) | (283) |
| Other | (1) | (6) | (1) |
| Net cash used in financing activities | (1,632) | (1,999) | (1,422) |
| Effect of exchange rates on cash and cash equivalents | 9 | (2) | (26) |
| Net decrease in cash and cash equivalents | (109) | (170) | (41) |
| Cash and cash equivalents at beginning of period | 638 | 808 | |
| Cash and cash equivalents at end of period | 529 | 638 | 808 |
| Supplemental disclosure of cash flow information: | |||
| Interest paid | 42 | 37 | 32 |
| Income taxes paid | 430 | 389 | 222 |
| [1] Because the cash flows of our discontinued operations were not material for any period presented, we have not segregated the cash flows of those businesses on these statements of cash flows. We have presented the effect of the pre-tax gains on the disposals on these statements of cash flows. See Note 6, Discontinued Operations, for more information. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUIT INC | ||
Ticker: INTU Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending July 31, 2017 10-K (Filed: Sept 1, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| July 31, 2017 | July 31, 2016 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 529 | 638 |
| Investments | 248 | 442 |
| Accounts receivable, net of allowance for doubtful accounts of $46 and $51 | 103 | 108 |
| Income taxes receivable | 63 | 20 |
| Prepaid expenses and other current assets | 100 | 102 |
| Current assets before funds held for customers | 1,043 | 1,310 |
| Funds held for customers | 372 | 304 |
| Total current assets | 1,415 | 1,614 |
| Long-term investments | 31 | 28 |
| Property and equipment, net | 1,030 | 1,031 |
| Goodwill | 1,295 | 1,282 |
| Acquired intangible assets, net | 22 | 44 |
| Long-term deferred income taxes | 132 | 139 |
| Other assets | 143 | 112 |
| Total assets | 4,068 | 4,250 |
| LIABILITIES AND STOCKHOLDERS EQUITY | ||
| Current liabilities: | ||
| Short-term debt | 50 | 512 |
| Accounts payable | 157 | 184 |
| Accrued compensation and related liabilities | 300 | 289 |
| Deferred revenue | 887 | 801 |
| Other current liabilities | 178 | 161 |
| Current liabilities before customer fund deposits | 1,572 | 1,947 |
| Customer fund deposits | 372 | 304 |
| Total current liabilities | 1,944 | 2,251 |
| Long-term debt | 438 | 488 |
| Long-term deferred revenue | 202 | 204 |
| Other long-term obligations | 130 | 146 |
| Total liabilities | 2,714 | 3,089 |
| 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 - 255,668 shares at July 31, 2017 and 257,853 shares at July 31, 2016 | 3 | 3 |
| Additional paid-in capital | 4,854 | 4,442 |
| Treasury stock, at cost | (10,778) | (9,939) |
| Accumulated other comprehensive loss | (22) | (32) |
| Retained earnings | 7,297 | 6,687 |
| Total stockholders equity | 1,354 | 1,161 |
| Total liabilities and stockholders equity | 4,068 | 4,250 |
| External Links | |
| INTUIT INC (INTU) Fiscal Year 2017 | |
| 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 |