cik stringclasses 1
value | date stringlengths 8 8 | form stringclasses 4
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0000320193 | 20031219 | 10-K | 1,252 | 143 had the statement been applied to the Company's existing asset retirement obligations at the time they were initially incurred. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,253 | The following table reconciles changes in the Company's asset retirement liability for fiscal 2003 (in millions):
Long-Lived Assets Including Goodwill and Other Acquired Intangible Assets
The Company reviews property, plant, and equipment and certain identifiable intangibles, excluding goodwill, for impairment whenever... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,254 | Recoverability of these assets is measured by comparison of its carrying amount to future undiscounted cash flows the assets are expected to generate. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,255 | If property, plant, and equipment and certain identifiable intangibles are considered to be impaired, the impairment to be recognized equals the amount by which the carrying value of the assets exceeds its fair market value. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,256 | For the three years ended September 27, 2003, the Company has made no material adjustments to its long-lived assets, except those made in connection with the restructuring actions described in Note 5. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,257 | The Company adopted SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,258 | 142, Goodwill and Other Intangible Assets, in the first quarter of fiscal 2002. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,259 | SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,260 | 142 requires that goodwill and intangible assets with indefinite useful lives no longer be amortized, but instead be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that they may be impaired. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,261 | Prior to fiscal 2002, goodwill was amortized using the straight-line method over its estimated useful life. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,262 | The Company completed its transitional goodwill impairment test as of October 1, 2001, and its annual goodwill impairment tests at August 30, 2003 and August 30, 2002, respectively, and found no impairment. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,263 | The Company established reporting units based on its current reporting structure. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,264 | For purposes of testing goodwill for impairment, goodwill has been allocated to these reporting units to the extent it relates to each reporting unit. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,265 | SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,266 | 142 also requires that intangible assets with definite lives be amortized over their estimated useful lives and reviewed for impairment in accordance with SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,267 | 144, Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,268 | The Company is currently amortizing its acquired intangible assets with definite lives over periods ranging from 3 to 10 years. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,269 | Foreign Currency Translation
The Company translates the assets and liabilities of its international non-U.S. functional currency subsidiaries into U.S. dollars using exchange rates in effect at the end of each period. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,270 | Revenue and
expenses for these subsidiaries are translated using rates that approximate those in effect during the period. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,271 | Gains and losses from these translations are credited or charged to foreign currency translation included in "accumulated other comprehensive income (loss)" in shareholders' equity. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,272 | The Company's foreign manufacturing subsidiaries and certain other international subsidiaries that use the U.S. dollar as their functional currency remeasure monetary assets and liabilities at exchange rates in effect at the end of each period, and inventories, property, and nonmonetary assets and liabilities at histor... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,273 | Gains and losses from these translations were insignificant and have been included in the Company's results of operations. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,274 | Revenue Recognition
Net sales consist primarily of revenue from the sale of products (hardware, software, and peripherals), and extended warranty and support contracts. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,275 | The Company recognizes revenue pursuant to applicable accounting standards, including Statement of Position (SOP) No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,276 | 97-2, Software Revenue Recognition, as amended, and Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,277 | 101, Revenue Recognition in Financial Statements. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,278 | The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collection is probable. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,279 | Product is considered delivered to the customer once it has been shipped and title and risk of loss have been transferred. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,280 | For most of the Company's product sales, these criteria are met at the time the product is shipped. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,281 | For online sales to individuals, for some sales to education customers in the United States, and for certain other sales, the Company defers revenue until the customer receives the product because the Company legally retains a portion of the risk of loss on these sales during transit. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,282 | If at the outset of an arrangement the Company determines the arrangement fee is not, or is presumed to not be, fixed and determinable, revenue is deferred and subsequently recognized as amounts become due and payable. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,283 | Revenue from extended warranty and support contracts is deferred and recognized ratably over the warranty and support periods. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,284 | These contracts typically include extended phone support, certain repairs, web-based support resources, diagnostic tools, and extend the Company's one-year basic limited parts and labor warranty. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,285 | The Company sells software and peripheral products obtained from other companies. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,286 | The Company establishes its own pricing and retains related inventory risk, is the primary obligor in sales transactions with its customers, and assumes the credit risk for amounts billed to its customers. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,287 | Accordingly, the Company recognizes revenue for the sale of products obtained from other companies at the gross amount billed. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,288 | Revenue on arrangements that include multiple elements such as hardware, software, and services is allocated to each element based on vendor specific objective evidence (VSOE) of the fair value of each element. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,289 | Allocated revenue for each element is recognized when revenue recognition criteria have been met for each element. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,290 | VSOE is determined based on the price charged when each element is sold separately. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,291 | The Company records reductions to revenue for estimated commitments related to price protection and for customer incentive programs, including reseller and end user rebates, and other sales programs and volume-based incentives. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,292 | The estimated cost of these programs is accrued as a reduction to revenue in the period the Company has sold the product and committed to a plan. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,293 | The Company also records reductions to revenue for expected future product returns based on the Company's historical experience. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,294 | Generally, the Company does not offer specified or unspecified upgrade rights to its customers in connection with software sales or the sale of extended warranty and support contracts. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,295 | However, a limited number of the Company's software products are available with maintenance agreements that grant customers rights to unspecified future upgrades over the maintenance term on a when and if available basis. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,296 | Revenue associated with such maintenance is recognized ratably over the maintenance term. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,297 | Shipping Costs
The Company's shipping and handling costs are included in cost of sales for all periods presented. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,298 | Warranty Expense
The Company provides currently for the estimated cost for product warranties at the time the related revenue is recognized. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,299 | Research and Development
Research and development costs are expensed as incurred. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,300 | Development costs of computer software to be sold, leased or otherwise marketed are subject to capitalization beginning when a product's technological feasibility has been established and ending when a product is available for general release to customers pursuant to SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,301 | 86, Computer Software to be Sold, Leased, or Otherwise Marketed. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,302 | In most instances, the Company's products are released soon after technological feasibility has been established. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,303 | Therefore, costs incurred subsequent to achievement of technological feasibility are usually not significant, and generally all software development costs have been expensed. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,304 | During the third and fourth quarters of 2003, the Company incurred substantial development costs associated with the development of Mac OS X version 10.3 (code-named "Panther"), which enhances the features and functionality of the previous version of Mac OS X, subsequent to achievement of technological feasibility as e... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,305 | Therefore, during 2003 the Company capitalized approximately $14.7 million of development costs associated with the development of Panther. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,306 | Amortization of this asset began in the first quarter of 2004 when Panther was shipped and is being recognized on a straight-line basis in accordance with SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,307 | 86 over a 3 year estimated useful life. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,308 | During the third and fourth quarters of 2002, the Company incurred substantial development costs associated with the development of Mac OS X version 10.2 (code-named "Jaguar") subsequent to achievement of technological feasibility as evidenced by public demonstration and release of a developer beta in May 2002, and pri... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,309 | As such, the Company capitalized approximately $13.3 million of development costs associated with development of Jaguar. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,310 | Amortization of this asset began in the fourth quarter of 2002 when Jaguar was shipped and is being recognized on a straight-line basis in accordance with SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,311 | 86 over a 3 year estimated useful life. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,312 | In addition, during 2002, the Company also began capitalizing certain costs related to development of its new PowerSchool enterprise student information system. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,313 | Capitalization of approximately $6 million began upon achievement of technological feasibility in the first quarter of 2002. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,314 | The final version of the enterprise student information system was released in July 2002. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,315 | During 2001 the Company incurred substantial development costs associated with the development of the original version of Mac OS X, subsequent to release of a public beta version of the product and prior to release of the final product version. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,316 | As a result, the Company capitalized approximately $5.4 million of development costs during 2001 associated with development of Mac OS X. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,317 | Related amortization is
computed by use of the straight-line method in accordance with SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,318 | 86 over a 8 year estimated useful life. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,319 | Total amortization related to capitalized software development costs was $5.8 million, $1.2 million and $350,000 in 2003, 2002 and 2001, respectively. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,320 | Advertising Costs
Advertising costs are expensed as incurred. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,321 | Advertising expense was $193 million, $209 million, and $261 million for 2003, 2002, and 2001, respectively. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,322 | Restructuring Charges
In June 2002, the FASB issued SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,323 | 146, Accounting for Costs Associated with Exit or Disposal Activities. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,324 | SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,325 | 146 supersedes Emerging Issues Task Force (EITF) Issue No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,326 | 94-3, Liability Recognition for Certain Employee Termination Benefits and Other Costs To Exit an Activity (Including Certain Costs Associated with a Restructuring) and requires that a liability for a cost associated with an exit or disposal activity be recognized when the liability is incurred, as opposed to when manag... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,327 | SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,328 | 146 also establishes that the liability should initially be measured and recorded at fair value. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,329 | This Statement was effective for exit or disposal activities initiated after December 31, 2002. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,330 | The provisions of SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,331 | 146 were required to be applied prospectively after the adoption date to newly initiated exit activities. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,332 | Stock-Based Compensation
The Company measures compensation expense for its employee stock-based compensation plans using the intrinsic value method prescribed by Accounting Principles Board (APB) Opinion No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,333 | 25, Accounting for Stock Issued to Employees. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,334 | The Company applies the disclosure provisions of SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,335 | 123, Accounting for Stock-based Compensation, as amended by SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,336 | 148, Accounting for Stock-based Compensation-Transition and Disclosure as if the fair value-based method had been applied in measuring compensation expense. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,337 | The Company has elected to follow APB Opinion No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,338 | 25 because, as discussed below, the alternative fair value accounting provided for under SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,339 | 123 requires use of option valuation models that were not developed for use in valuing employee stock options and employee stock purchase plan shares. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,340 | Under APB Opinion No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,341 | 25, when the exercise price of the Company's employee stock options equals the market price of the underlying stock on the date of the grant, no compensation expense is recognized. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,342 | As required under SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,343 | 123, the pro forma effects of stock-based compensation on net income and earnings per common share for employee stock options granted and employee stock purchase plan purchases have been estimated at the date of grant and beginning of the period, respectively, using a Black-Scholes option pricing model. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,344 | For purposes of pro forma disclosures, the estimated fair value of the options and shares is amortized to pro forma net income over the options' vesting period and the shares' plan period. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,345 | The Black-Scholes option valuation model was developed for use in estimating the fair value of freely traded options that have no vesting restrictions and are fully transferable. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,346 | In addition, option valuation models require the input of highly subjective assumptions including the expected life of options and the Company's expected stock price volatility. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,347 | Because the Company's employee stock options and employee stock purchase plan shares have characteristics significantly different from those of freely traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in
management's opinion, the existing models do no... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,348 | For purposes of pro forma disclosures, the estimated fair value of the options and shares is amortized to pro forma net income (loss) over the options' vesting period and the shares' plan period. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,349 | The Company's pro forma information for each of the last three fiscal years follows (in millions, except per share amounts):
Earnings Per Common Share
Basic earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding duri... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,350 | Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the dilutive potential shares ... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,351 | The dilutive effect of outstanding options and restricted stock is reflected in diluted earnings per share by application of the treasury stock method. | 0001047469-03-041604/full-submission.txt |
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