10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MICROSOFT CORP | |||
Ticker: MSFT Fiscal Year: 2014 | |||
INCOME STATEMENTS | |||
Period Ending June 30, 2014 10-K (Filed: July 31, 2014) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2014 | June 30, 2013 | June 30, 2012 | |
| Revenue | $ 86,833 [1] | 77,849 | 73,723 |
| Cost of revenue | 26,934 | 20,249 | 17,530 |
| Gross margin | 59,899 | 57,600 | 56,193 |
| Research and development | 11,381 | 10,411 | 9,811 |
| Sales and marketing | 15,811 | 15,276 | 13,857 |
| General and administrative | 4,821 | 5,149 | 4,569 |
| Goodwill impairment | 0 | 0 | 6,193 |
| Integration and restructuring | 127 | 0 | 0 |
| Operating income | 27,759 | 26,764 | 21,763 |
| Other income, net | 61 | 288 | 504 |
| Income before income taxes | 27,820 | 27,052 | 22,267 |
| Provision for income taxes | 5,746 | 5,189 | 5,289 |
| Net income | 22,074 [2] | 21,863 [3] | 16,978 |
| Earnings per share: | |||
| Basic | 2.66 | 2.61 | 2.02 |
| Diluted | 2.63 | 2.58 | 2.00 |
| Weighted average shares outstanding: | |||
| Basic | 8,299 | 8,375 | 8,396 |
| Diluted | 8,399 | 8,470 | 8,506 |
| Cash dividends declared per common share | 1.12 | 0.92 | 0.80 |
| [1] NDS has been included in our consolidated results of operations starting on April 25, 2014, the date of acquisition. | |||
| [2] Includes a tax provision adjustment recorded in the fourth quarter of fiscal year 2014 related to adjustments to prior years' liabilities for intercompany transfer pricing which decreased net income by $458 million and diluted earnings per share by $0.05. | |||
| [3] Includes a charge related to a fine imposed by the European Commission in March 2013 which decreased net income by $733 million (561 million) and diluted earnings per share by $0.09. Also includes a charge for Surface RT inventory adjustments recorded in the fourth quarter of fiscal year 2013, which decreased net income by $596 million and diluted earnings per share by $0.07. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MICROSOFT CORP | |||
Ticker: MSFT Fiscal Year: 2014 | |||
COMPREHENSIVE INCOME STATEMENTS | |||
Period Ending June 30, 2014 10-K (Filed: July 31, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2014 | June 30, 2013 | June 30, 2012 | |
| Net income | $ 22,074 [1] | 21,863 [2] | 16,978 |
| Other comprehensive income (loss): | |||
| Net unrealized gains (losses) on derivatives (net of tax effects of $(4), $(14), and $137) | (35) | (26) | 255 |
| Net unrealized gains (losses) on investments (net of tax effects of $936, $195, and $(210)) | 1,737 | 363 | (390) |
| Translation adjustments and other (net of tax effects of $12, $(8), and $(165)) | 263 | (16) | (306) |
| Other comprehensive income (loss) | 1,965 | 321 | (441) |
| Comprehensive income | 24,039 | 22,184 | 16,537 |
| [1] Includes a tax provision adjustment recorded in the fourth quarter of fiscal year 2014 related to adjustments to prior years' liabilities for intercompany transfer pricing which decreased net income by $458 million and diluted earnings per share by $0.05. | |||
| [2] Includes a charge related to a fine imposed by the European Commission in March 2013 which decreased net income by $733 million (561 million) and diluted earnings per share by $0.09. Also includes a charge for Surface RT inventory adjustments recorded in the fourth quarter of fiscal year 2013, which decreased net income by $596 million and diluted earnings per share by $0.07. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MICROSOFT CORP | |||
Ticker: MSFT Fiscal Year: 2014 | |||
CASH FLOWS STATEMENTS | |||
Period Ending June 30, 2014 10-K (Filed: July 31, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2014 | June 30, 2013 | June 30, 2012 | |
| Operations | |||
| Net income | $ 22,074 [1] | 21,863 [2] | 16,978 |
| Adjustments to reconcile net income to net cash from operations: | |||
| Goodwill impairment | 0 | 0 | 6,193 |
| Depreciation, amortization, and other | 5,212 | 3,755 | 2,967 |
| Stock-based compensation expense | 2,446 | 2,406 | 2,244 |
| Net recognized losses (gains) on investments and derivatives | (109) | 80 | (200) |
| Excess tax benefits from stock-based compensation | (271) | (209) | (93) |
| Deferred income taxes | (331) | (19) | 954 |
| Deferral of unearned revenue | 44,325 | 44,253 | 36,104 |
| Recognition of unearned revenue | (41,739) | (41,921) | (33,347) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (1,120) | (1,807) | (1,156) |
| Inventories | (161) | (802) | 184 |
| Other current assets | (29) | (129) | 493 |
| Other long-term assets | (628) | (478) | (248) |
| Accounts payable | 473 | 537 | (31) |
| Other current liabilities | 1,075 | 146 | 410 |
| Other long-term liabilities | 1,014 | 1,158 | 174 |
| Net cash from operations | 32,231 | 28,833 | 31,626 |
| Financing | |||
| Proceeds from issuance of short-term debt, maturities of 90 days or less, net | 500 | 0 | 0 |
| Proceeds from issuance of debt | 10,350 | 4,883 | 0 |
| Repayments of debt | (3,888) | (1,346) | 0 |
| Common stock issued | 607 | 931 | 1,913 |
| Common stock repurchased | (7,316) | (5,360) | (5,029) |
| Common stock cash dividends paid | (8,879) | (7,455) | (6,385) |
| Excess tax benefits from stock-based compensation | 271 | 209 | 93 |
| Other | (39) | (10) | 0 |
| Net cash used in financing | (8,394) | (8,148) | (9,408) |
| Investing | |||
| Additions to property and equipment | (5,485) | (4,257) | (2,305) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | (5,937) | (1,584) | (10,112) |
| Purchases of investments | (72,690) | (75,396) | (57,250) |
| Maturities of investments | 5,272 | 5,130 | 15,575 |
| Sales of investments | 60,094 | 52,464 | 29,700 |
| Securities lending payable | (87) | (168) | (394) |
| Net cash used in investing | (18,833) | (23,811) | (24,786) |
| Effect of exchange rates on cash and cash equivalents | (139) | (8) | (104) |
| Net change in cash and cash equivalents | 4,865 | (3,134) | (2,672) |
| Cash and cash equivalents, beginning of period | 3,804 | 6,938 | |
| Cash and cash equivalents, end of period | 8,669 | 3,804 | 6,938 |
| [1] Includes a tax provision adjustment recorded in the fourth quarter of fiscal year 2014 related to adjustments to prior years' liabilities for intercompany transfer pricing which decreased net income by $458 million and diluted earnings per share by $0.05. | |||
| [2] Includes a charge related to a fine imposed by the European Commission in March 2013 which decreased net income by $733 million (561 million) and diluted earnings per share by $0.09. Also includes a charge for Surface RT inventory adjustments recorded in the fourth quarter of fiscal year 2013, which decreased net income by $596 million and diluted earnings per share by $0.07. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MICROSOFT CORP | ||
Ticker: MSFT Fiscal Year: 2014 | ||
BALANCE SHEETS | ||
Period Ending June 30, 2014 10-K (Filed: July 31, 2014) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| June 30, 2014 | June 30, 2013 | |
| Assets | ||
| Current assets: | ||
| Cash and Cash Equivalents | $ 8,669 | 3,804 |
| Short-term investments (including securities loaned of $541 and $579) | 77,040 | 73,218 |
| Total cash, cash equivalents, and short-term investments | 85,709 | 77,022 |
| Accounts receivable, net of allowance for doubtful accounts of $301 and $336 | 19,544 | 17,486 |
| Inventories | 2,660 | 1,938 |
| Deferred income taxes | 1,941 | 1,632 |
| Other | 4,392 | 3,388 |
| Total current assets | 114,246 | 101,466 |
| Property and equipment, net of accumulated depreciation of $14,793 and $12,513 | 13,011 | 9,991 |
| Equity and other investments | 14,597 | 10,844 |
| Goodwill | 20,127 | 14,655 |
| Intangible assets, net | 6,981 | 3,083 |
| Other long-term assets | 3,422 | 2,392 |
| Total assets | 172,384 | 142,431 |
| Liabilities and stockholders' equity | ||
| Current liabilities: | ||
| Accounts payable | 7,432 | 4,828 |
| Short-term debt | 2,000 | 0 |
| Current portion of long-term debt | 0 | 2,999 |
| Accrued compensation | 4,797 | 4,117 |
| Income taxes | 782 | 592 |
| Short-term unearned revenue | 23,150 | 20,639 |
| Securities lending payable | 558 | 645 |
| Other | 6,906 | 3,597 |
| Total current liabilities | 45,625 | 37,417 |
| Long-term debt | 20,645 | 12,601 |
| Long-term unearned revenue | 2,008 | 1,760 |
| Deferred income taxes | 2,728 | 1,709 |
| Other long-term liabilities | 11,594 | 10,000 |
| Total liabilities | 82,600 | 63,487 |
| Commitments and contingencies | ||
| Stockholders' equity: | ||
| Common stock and paid-in capital - shares authorized 24,000; outstanding 8,239 and 8,328 | 68,366 | 67,306 |
| Retained earnings | 17,710 | 9,895 |
| Accumulated other comprehensive income | 3,708 | 1,743 |
| Total stockholders' equity | 89,784 | 78,944 |
| Total liabilities and stockholders' equity | 172,384 | 142,431 |
| External Links | |
| MICROSOFT CORP (MSFT) Fiscal Year 2014 | |
| 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 |