We evaluated the nature and accounting treatment of the Windows 10 offer and determined that it represents a marketing and promotional activity, in part because the offer is being made available for free to existing users. The share repurchase program became effective on October 1, 2013, has no expiration date, and may be suspended or discontinued at any time without notice. Share this page. Operating income decreased $9.6 billion or 35%, primarily due to impairment, integration, and restructuring expenses in fiscal year 2015, as well as increased research and development expenses, offset in part by higher gross margin. Commercial competitors for our server applications for PC-based distributed client/server environments include CA Technologies, IBM, and Oracle. View PDF. All cash equivalents and short-term investments are classified as available-for-sale and realized gains and losses are recorded using the specific identification method. MOST RECENT 2019 Annual Report. /Producer (�� Q t 4 . U.S. Chief Executive Officer and Our annual goodwill impairment test as of May 1, 2015 indicated that the carrying value of our previous Phone Hardware reporting unit goodwill exceeded its estimated fair value. 100,000+ Ready-Made Designs, Docs & Templates to Start, Run and Grow your Business . The components of intangible assets, all of which are finite-lived, were as follows: In the third quarter of fiscal year 2016, we corrected our intangible assets in the table above for a $585 million misstatement between gross carrying amount and accumulated amortization as of June 30, 2015. Future minimum rental commitments under non-cancellable facilities operating leases in place as of June 30, 2016 are as follows: On June 11, 2016, we entered into a definitive agreement to acquire LinkedIn Corporation (“LinkedIn”) for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash (the “Merger Agreement”). Many organizations that license our products and services through Enterprise Agreements transact directly with us, with sales support from solution integrators, independent software vendors, web agencies, and developers that advise organizations on licensing our products and services (“Enterprise Agreement Software Advisors”, or “ESAs”). In fiscal years 2015 and 2014, our U.S. income before income taxes was $7.4 billion and $7.1 billion, respectively, and comprised 40% and 26%, respectively, of our income before income taxes. In fact, Office is on more than 50 million iOS and Android monthly active devices, up more than four times over last year. Tax contingencies and other income tax liabilities were $11.8 billion and $12.1 billion as of June 30, 2016 and 2015, respectively, and are included in other long-term liabilities. The plaintiffs are expected to file their case in chief in August 2016, setting out claims made, authorities, and evidence in support. Market price risk is managed relative to broad-based global and domestic equity indices using certain convertible preferred investments, options, futures, and swap contracts not designated as hedging instruments. These controls include model validation, review of key model inputs, analysis of period-over-period fluctuations, and independent recalculation of prices where appropriate. Office Commercial revenue increased $135 million or 1%, driven by higher revenue from Office 365 commercial, mainly due to growth in subscribers, offset by lower transactional license volume, reflecting a continued shift to Office 365 commercial and a decline in the business PC market. Display advertising revenue is recognized as advertisements are displayed. Revenue included an unfavorable foreign currency impact of approximately 2%. To date, we have not encountered significant costs as a result of these obligations and have not accrued any liabilities related to these indemnifications on our consolidated financial statements. Archives of these events are also available. We have been added to these cases as a defendant. On July 27, 2015, the U.S. Tax Court issued an opinion in Altera Corp. v. Commissioner related to the treatment of stock-based compensation expense in an intercompany cost-sharing arrangement. In July 2015, we announced a plan to restructure our phone business to better focus and align resources. /Height 103 These entities have been included in our consolidated results of operations since their respective acquisition dates. Our ability to early adopt using the full retrospective method is dependent on system readiness, including software procured from third-party providers, and the completion of our analysis of information necessary to restate prior period financial statements. Microsoft Dynamics (“Dynamics”) CRM Online seat additions more than doubled year-over-year. We are working to create a broad developer opportunity by unifying the installed base to Windows 10 through upgrades and ongoing updates, and by enabling universal Windows applications to run across all device targets. Executive Vice President, Business We use broad-based commodity exposures to enhance portfolio returns and to facilitate portfolio diversification. We work on the go. The lawsuits also allege an industry-wide conspiracy to manipulate the science and testing around emission guidelines. And a story that Microsoft’s annual report and financial statements tell is a classic “comeback” story. Surface Pro 3 was released in June 2014. We have two $5.0 billion credit facilities that expire on November 1, 2016 and November 14, 2018, respectively. Shipping Information. We’ve advanced our mission to empower every person and every organization on the planet to achieve more. Microsoft 2020 10-K. View Online | Download. Commercial cloud annualized revenue run rate exceeded $12.1 billion, up more than 50 percent year-over-year. Satya Nadella. Adjusting for Windows 10 revenue deferrals and impairment, integration and restructuring expenses, revenue was $92.0 billion with $27.9 billion in operating income. Microsoft Corporation Annual Report 2020 Form 10-K (NASDAQ:MSFT) Published: July 31st, 2020 PDF generated by stocklight.com . Xbox Live services consist of subscriptions and sales of Xbox Live enabled content, as well as advertising, and are designed to benefit users by providing access to a network of certified applications and services and to benefit our developer and partner ecosystems by providing access to a large customer base. As a result, we have separately disclosed product revenue and service and other revenue on our consolidated income statements. Bill & Melinda Gates Foundation, Charles H. Noski 1,3 During fiscal year 2016, we repurchased 294 million shares of Microsoft common stock for $14.8 billion under the share repurchase program approved by our Board of Directors on September 16, 2013. We expect the acquisition will close in calendar year 2016, and we will finance the transaction primarily through the issuance of new debt. ...Target Corporation’s Annual Report/ Financial Analysis Project Antoinette Rease Meagan McGahee ACCT 2030 FALL 2010 History of Target With its headquarters in Minneapolis, Minnesota, Target is a continuously striving company focused on improving every aspect of their business – whether it's their merchandising for guests, technology solutions, or even the future design of the company.The … Matches the Red and Black design set. The allocation of the purchase price to goodwill was completed as of March 31, 2015. In addition, we expect existing foreign cash, cash equivalents, short-term investments, and cash flows from operations to continue to be sufficient to fund our foreign operating activities and cash commitments for investing activities, such as material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. Phone Hardware intangible assets are included in the Devices reporting unit under our current segment structure. Patent licensing revenue decreased 27%, due to a decline in license revenue per unit and licensed units. Shares of our common stock may be purchased by employees at three-month intervals at 90% of the fair market value on the last trading day of each three-month period. The outcomes of legal proceedings and claims brought against us are subject to significant uncertainty. We have recast certain previously reported amounts to conform to the way we internally manage and monitor segment performance. Panasonic Corp. does not currently have any hardcopy reports on AnnualReports.com. For derivative instruments that are not designated as hedges, gains (losses) from changes in fair values are primarily recognized in other income (expense), net. Productivity is in our DNA, and so everything we do supports our customers’ digital work and life. This past year we’ve witnessed movements that understandably question globalization and its impact on economic equality. /CA 1.0 Adobe PDF; Microsoft Excel; Google Sheets; Adobe Illustrator; HTML5; Adobe InDesign; Microsoft Publisher; Apple Pages; Apple Numbers; Wordpress; Google Slides; Outlook; Templates. We also fund research and development activities at the business segment level. This change primarily impacted Note 10 – Goodwill, Note 15 – Unearned Revenue, and Note 21 – Segment Information and Geographic Data, with no impact on consolidated net income or cash flows. We provide for the estimated costs of fulfilling our obligations under hardware and software warranties at the time the related revenue is recognized. >> The transaction is expected to close in the second half of 2016, subject to regulatory approvals and other closing conditions. The second broad category of OEMs consists of lower-volume PC manufacturers (also called “system builders”), which source their Microsoft software for pre-installation and local redistribution primarily through the Microsoft distributor channel rather than through a direct agreement or relationship with Microsoft. 2. /CreationDate (D:20190901183813Z) Resources, Bradford L. Smith Construction and Operating Lease Commitments. In fiscal year 2015, we incurred restructuring charges of $780 million under the Phone Hardware Restructuring Plan, including severance expenses and other reorganization costs. With them, including precious metals, energy, and hardware advances that may cause actual and... 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