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: 2019 | |||
Consolidated Statements of Operations | |||
Period Ending July 31, 2019 10-K (Filed: Aug 30, 2019) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| July 31, 2019 | July 31, 2018 | July 31, 2017 | |
| Net revenue: | |||
| Total net revenue | $ 6,784 | 6,025 | 5,196 |
| Costs and expenses: | |||
| Cost of revenue: | |||
| Amortization of acquired technology | 20 | 15 | 12 |
| Selling and marketing | 1,927 | 1,631 | 1,415 |
| Research and development | 1,233 | 1,186 | 998 |
| General and administrative | 597 | 664 | 553 |
| Amortization of other acquired intangible assets | 6 | 6 | 2 |
| Total costs and expenses | 4,930 | 4,465 | 3,778 |
| Operating income | 1,854 | 1,560 | 1,418 |
| Interest expense | (15) | (20) | (31) |
| Interest and other income, net | 42 | 26 | 3 |
| Income before income taxes | 1,881 | 1,566 | 1,390 |
| Income tax provision | 324 | 237 | 405 |
| Net income | 1,557 | 1,329 | 985 |
| Basic net income per share (in dollars per share) | 5.99 | 5.18 | 3.83 |
| Shares used in basic per share calculations (in shares) | 260 | 256 | 257 |
| Diluted net income per share (in dollars per share) | 5.89 | 5.09 | 3.78 |
| Shares used in diluted per share calculations (in shares) | 264 | 261 | 261 |
| Cash dividends declared per common share (in dollars per share) | 1.88 | 1.56 | 1.36 |
| Product and Service | |||
| Product | |||
| Total net revenue | 1,623 | 1,624 | 1,483 |
| Cost of revenue | 77 | 82 | 89 |
| Service and other | |||
| Total net revenue | 5,161 | 4,401 | 3,713 |
| Cost of revenue | 1,070 | 881 | 709 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUIT INC | |||
Ticker: INTU Fiscal Year: 2019 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending July 31, 2019 10-K (Filed: Aug 30, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| July 31, 2019 | July 31, 2018 | July 31, 2017 | |
| Net income | $ 1,557 | 1,329 | 985 |
| Other comprehensive income (loss), net of income taxes: | |||
| Unrealized gain (loss) on available-for-sale debt securities | 3 | (2) | (1) |
| Foreign currency translation gain (loss) | (3) | (12) | 11 |
| Total other comprehensive income (loss), net | 0 | (14) | 10 |
| Comprehensive income | 1,557 | 1,315 | 995 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUIT INC | |||
Ticker: INTU Fiscal Year: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending July 31, 2019 10-K (Filed: Aug 30, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| July 31, 2019 | July 31, 2018 | July 31, 2017 | |
| Cash flows from operating activities: | |||
| Net income | $ 1,557 | 1,329 | 985 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 199 | 228 | 214 |
| Amortization of acquired intangible assets | 26 | 25 | 22 |
| Share-based compensation expense | 401 | 382 | 326 |
| Loss on sale of long-lived assets | 0 | 79 | 0 |
| Deferred income taxes | (7) | (5) | 17 |
| Other | 15 | 6 | 13 |
| Total adjustments | 634 | 715 | 592 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 11 | 5 | 5 |
| Income taxes receivable | 5 | (1) | (44) |
| Prepaid expenses and other assets | (37) | (33) | (13) |
| Accounts payable | 90 | 12 | 0 |
| Accrued compensation and related liabilities | 16 | 75 | 10 |
| Deferred revenue | 39 | 6 | 64 |
| Other liabilities | 9 | 4 | 0 |
| Total changes in operating assets and liabilities | 133 | 68 | 22 |
| Net cash provided by operating activities | 2,324 | 2,112 | 1,599 |
| Cash flows from investing activities: | |||
| Purchases of corporate and customer fund investments | (752) | (407) | (352) |
| Sales of corporate and customer fund investments | 84 | 128 | 359 |
| Maturities of corporate and customer fund investments | 303 | 286 | 183 |
| Net change in customer fund deposits | 69 | (5) | 68 |
| Purchases of property and equipment | (76) | (38) | (102) |
| Capitalization of internal use software | (79) | (86) | (128) |
| Acquisitions of businesses, net of cash acquired | (64) | (363) | 0 |
| Originations of term loans to small businesses | (316) | (137) | 0 |
| Principal repayments of term loans from small businesses | 267 | 82 | 0 |
| Other | (2) | 3 | (45) |
| Net cash used in investing activities | (566) | (537) | (17) |
| Cash flows from financing activities: | |||
| Proceeds from borrowings under unsecured revolving credit facility | 0 | 800 | 150 |
| Repayments on borrowings under unsecured revolving credit facility | 0 | (800) | (150) |
| Proceeds from borrowings under secured revolving credit facility | 48 | 0 | 0 |
| Repayment of debt | (50) | (50) | (512) |
| Proceeds from issuance of stock under employee stock plans | 284 | 295 | 226 |
| Payments for employee taxes withheld upon vesting of restricted stock units | (251) | (199) | (153) |
| Cash paid for purchases of treasury stock | (556) | (272) | (839) |
| Dividends and dividend rights paid | (501) | (407) | (353) |
| Other | (8) | (1) | (1) |
| Net cash used in financing activities | (1,034) | (634) | (1,632) |
| Effect of exchange rates on cash, cash equivalents, restricted cash, and restricted cash equivalents | (3) | (11) | 9 |
| Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents | 721 | 930 | (41) |
| Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period | 1,631 | 701 | |
| Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period | 2,352 | 1,631 | 701 |
| Cash and cash equivalents | 2,116 | 1,464 | 529 |
| Restricted cash and restricted cash equivalents included in funds held for customers | 236 | 167 | 172 |
| Total cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period | 2,352 | 1,631 | 701 |
| Supplemental disclosure of cash flow information: | |||
| Interest paid | 17 | 19 | 42 |
| Income taxes paid | 325 | 245 | 430 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUIT INC | ||
Ticker: INTU Fiscal Year: 2019 | ||
Consolidated Balance Sheets | ||
Period Ending July 31, 2019 10-K (Filed: Aug 30, 2019) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| July 31, 2019 | July 31, 2018 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,116 | 1,464 |
| Investments | 624 | 252 |
| Accounts receivable, net of allowance for doubtful accounts of $3 and $5 | 87 | 98 |
| Income taxes receivable | 65 | 39 |
| Prepaid expenses and other current assets | 266 | 202 |
| Current assets before funds held for customers | 3,158 | 2,055 |
| Funds held for customers | 436 | 367 |
| Total current assets | 3,594 | 2,422 |
| Long-term investments | 13 | 13 |
| Property and equipment, net | 780 | 812 |
| Goodwill | 1,655 | 1,611 |
| Acquired intangible assets, net | 54 | 61 |
| Other assets | 187 | 215 |
| Total assets | 6,283 | 5,134 |
| LIABILITIES AND STOCKHOLDERS EQUITY | ||
| Current liabilities: | ||
| Short-term debt | 50 | 50 |
| Accounts payable | 274 | 178 |
| Accrued compensation and related liabilities | 385 | 369 |
| Deferred revenue | 619 | 581 |
| Other current liabilities | 202 | 198 |
| Current liabilities before customer fund deposits | 1,530 | 1,376 |
| Customer fund deposits | 436 | 367 |
| Total current liabilities | 1,966 | 1,743 |
| Long-term debt | 386 | 388 |
| Long-term deferred income tax liabilities | 37 | 68 |
| Other long-term obligations | 145 | 119 |
| Total liabilities | 2,534 | 2,318 |
| 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 - 260,180 shares at July 31, 2019 and 258,616 shares at July 31, 2018 | 3 | 3 |
| Additional paid-in capital | 5,772 | 5,335 |
| Treasury stock, at cost | (11,611) | (11,050) |
| Accumulated other comprehensive loss | (36) | (36) |
| Retained earnings | 9,621 | 8,564 |
| Total stockholders equity | 3,749 | 2,816 |
| Total liabilities and stockholders equity | 6,283 | 5,134 |
| External Links | |
| INTUIT INC (INTU) 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 |