Chunk-level Retrieval Eval
Collection
Contextualized chunk-level (query2chunk) retrieval eval for the Citras benchmark. • 19 items • Updated
chunk_id string | chunk string | source_url string | title string | chunk_idx int64 | chunk_start_char int64 | chunk_end_char int64 |
|---|---|---|---|---|---|---|
000000000::0 | Table of Contents
3M Company and Subsidiaries
Consolidated Statement of Cash Flow s
Years ended December 31
(Millions)
2018
2017
2016
Cash Flows from Operating Activities
Net income including noncontrolling interest
$
5,363
$
4,869
$
5,058
Adjustments to reconcile net income... | 000000000 | 0 | 0 | 461 | |
000000000::1 | 1,544
1,474
Company pension and postretirement contributions
(370)
(967)
(383)
Company pension and postretirement expense
410
334
250
Stock-based compensation expense
302
324
298
Gain on sale of businesses
(545)
(586)
(111)
Deferred income taxes
(57)
107
... | 000000000 | 1 | 461 | 798 | |
000000000::2 | assets and liabilities
Accounts receivable
(305)
(245)
(313)
Inventories
(509)
(387)
57
Accounts payable
408
24
148
Accrued income taxes (current and long-term)
134
967
101
Other — net
120
256
76
Net cash provided by (used in) operating ... | 000000000 | 2 | 798 | 1,137 | |
000000000::3 | 9
6,240
6,662
Cash Flows from Investing Activities
Purchases of property, plant and equipment (PP&E)
(1,577)
(1,373)
(1,420)
Proceeds from sale of PP&E and other assets
262
49
58
Acquisitions, net of cash acquired
13
(2,023)
(16)
Purchas... | 000000000 | 3 | 1,137 | 1,505 | |
000000000::4 | (1,828)
(2,152)
(1,410)
Proceeds from maturities and sale of marketable securities and investments
2,497
1,354
1,247
Proceeds from sale of businesses, net of cash sold
846
1,065
142
Other — net
9
(6)
(4)
Net cash provided by (used in) investing activities
222
(3,0... | 000000000 | 4 | 1,505 | 1,827 | |
000000000::5 | )
(1,403)
Cash Flows from Financing Activities
Change in short-term debt — net
(284)
578
(797)
Repayment of debt (maturities greater than 90 days)
(1,034)
(962)
(992)
Proceeds from debt (maturities greater than 90 days)
2,251
1,987
2,832
Purch... | 000000000 | 5 | 1,827 | 2,163 | |
000000000::6 | stock
(4,870)
(2,068)
(3,753)
Proceeds from issuance of treasury stock pursuant to stock option and benefit plans
485
734
804
Dividends paid to shareholders
(3,193)
(2,803)
(2,678)
Other — net
(56)
(121)
(42)
Net cash provided by (used in) financing activities
(6,701 | 000000000 | 6 | 2,163 | 2,482 | |
000000000::7 | )
(2,655)
(4,626)
Effect of exchange rate changes on cash and cash equivalents
(160)
156
(33)
Net increase (decrease) in cash and cash equivalents
(200)
655
600
Cash and cash equivalents at beginning of year
3,053
2,398
1,798
Cash and c... | 000000000 | 7 | 2,482 | 2,844 | |
000000000::8 |
$
3,053
$
2,398
The accompanying Notes to Consolidated Financial Statements are an integral part of this statement. | 000000000 | 8 | 2,844 | 2,968 | |
000000000::9 | 60 | 000000000 | 9 | 2,971 | 2,973 | |
000000001::0 | Table of Contents
3M Company and Subsidiaries
Consolidated Balance Shee t
At December 31
December 31,
December 31,
(Dollars in millions, except per share amount)
2018
2017
Assets
Current assets
Cash and cash equivalents
$
2,853
$
3,053
Marketable securities — c... | 000000001 | 0 | 0 | 402 | |
000000001::1 |
5,020
4,911
Inventories
Finished goods
2,120
1,915
Work in process
1,292
1,218
Raw materials and supplies
954
901
Total inventories
4,366
4,034
Prepaids
741
937
Other current assets
349
266
Total current assets
13,709 | 000000001 | 1 | 402 | 706 | |
000000001::2 |
14,277
Property, plant and equipment
24,873
24,914
Less: Accumulated depreciation
(16,135)
(16,048)
Property, plant and equipment — net
8,738
8,866
Goodwill
10,051
10,513
Intangible assets — net
2,657
2,936
Other assets
1,345
| 000000001 | 2 | 706 | 995 | |
000000001::3 |
1,395
Total assets
$
36,500
$
37,987
Liabilities
Current liabilities
Short-term borrowings and current portion of long-term debt
$
1,211
$
1,853
Accounts payable
2,266
1,945
Accrued payroll
749
870
Accrued income taxes
243
310
Other current liabiliti... | 000000001 | 3 | 995 | 1,334 | |
000000001::4 | 709
Total current liabilities
7,244
7,687
Long-term debt
13,411
12,096
Pension and postretirement benefits
2,987
3,620
Other liabilities
3,010
2,962
Total liabilities
$
26,652
$
26,365
Commitments and contingencies (Note 16)
Equity
3M... | 000000001 | 4 | 1,334 | 1,662 | |
000000001::5 | shareholders’ equity:
Common stock par value, $.01 par value
$
9
$
9
Shares outstanding - 2018: 576,575,168
Shares outstanding - 2017: 594,884,237
Additional paid-in capital
5,643
5,352
Retained earnings
40,636
39,115
Treasury stock
(29,626 | 000000001 | 5 | 1,662 | 1,971 | |
000000001::6 | )
(25,887)
Accumulated other comprehensive income (loss)
(6,866)
(7,026)
Total 3M Company shareholders’ equity
9,796
11,563
Noncontrolling interest
52
59
Total equity
$
9,848
$
11,622
Total liabilities and equity
$
36,500
$
37,987
The accompanying Notes to Consolidated ... | 000000001 | 6 | 1,971 | 2,300 | |
000000001::7 | Statements are an integral part of this statement. | 000000001 | 7 | 2,300 | 2,351 | |
000000001::8 | 58 | 000000001 | 8 | 2,352 | 2,354 | |
000000002::0 | 3M Company and Subsidiaries
Consolidated Statement of Income
Years ended December 31
(Millions, except per share amounts) 2022 2021 2020
Net sales $ 34,229 $ 35,355 $ 32,184___FINANCEBENCH_DELIMITER___3M Company and Subsidiaries
Consolidated Balance Sheet
At December 31
(Dollars in millions, except per share amo... | 000000002 | 0 | 0 | 370 | |
000000002::1 | 9,178 9,429 Total assets $ 46,455 $ 47,072___FINANCEBENCH_DELIMITER___3M Company and Subsidiaries
Consolidated Statement of Cash Flows
Years ended December 31
(Millions) 2022 2021 2020 Cash Flows from Investing Activities
Purchases of property, plant and equipment (PP&E) (1,749) (1,603) (1,501) | 000000002 | 1 | 370 | 670 | |
000000003::0 | SG&A, measured as a percent of sales, increased in 2022 when compared to the same period last year. | 000000003 | 0 | 0 | 99 | |
000000003::1 | SG&A was impacted by increased special item costs for significant
litigation primarily related to steps toward resolving Combat Arms Earplugs litigation (discussed in Note 16) resulting in a 2022 second quarter pre-tax charge of approximately
$1.2 billion, certain impairment costs related to exiting PFAS manufacturing ... | 000000003 | 1 | 100 | 693 | |
000000004::0 | Worldwide Sales Change
By Business Segment Organic sales Acquisitions Divestitures Translation Total sales change
Safety and Industrial 1.0 % — % — % (4.2) % (3.2) %
Transportation and Electronics 1.2 — (0.5) (4.6) (3.9)
Health Care 3.2 — (1.4) (3.8) (2.0)
Consumer (0.9) — (0.4) (2.6) (3.9)
Total Company 1.2 — (0.5) | 000000004 | 0 | 0 | 317 | |
000000004::1 | (3.9) (3.2) | 000000004 | 1 | 317 | 329 | |
000000005::0 | 3M Company and Subsidiaries
Consolidated Balance Sheet
(Unaudited)
(Dollars in millions, except per share amount) June 30, 2023 December 31, 2022
Assets
Current assets
Cash and cash equivalents $ 4,258 $ 3,655
Marketable securities — current 56 238
Accounts receivable — net of allowances of $160 and $174 4,947 4,532
In... | 000000005 | 0 | 0 | 348 | |
000000005::1 | 26 2,497
Work in process 1,527 1,606
Raw materials and supplies 1,227 1,269
Total inventories 5,280 5,372
Prepaids 674 435
Other current assets 539 456
Total current assets 15,754 14,688
Property, plant and equipment 26,459 25,998
Less: Accumulated depreciation (17 | 000000005 | 1 | 348 | 613 | |
000000005::2 | ,248) (16,820)
Property, plant and equipment — net 9,211 9,178
Operating lease right of use assets 812 829
Goodwill 12,869 12,790
Intangible assets — net 4,470 4,699
Other assets 5,764 4,271
Total assets $ 48,880 $ 46,455
Liabilities
Current liabilities
Short-term borrowings | 000000005 | 2 | 613 | 888 | |
000000005::3 | and current portion of long-term debt $ 3,033 $ 1,938
Accounts payable 3,231 3,183
Accrued payroll 785 692
Accrued income taxes 172 259
Operating lease liabilities — current 244 261
Other current liabilities 3,471 3,190
Total current liabilities 10,936 9,523 | 000000005 | 3 | 888 | 1,147 | |
000000006::0 | Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, Par Value $.01 Per Share MMM New York Stock Exchange
MMM Chicago Stock Exchange, Inc.
1.500% Notes due 2026 MMM26 New York Stock Exchange
1.750% Notes due 2030 MMM30 New York Stock Exchange
1.500% Notes due 2031 MMM31 New York... | 000000006 | 0 | 0 | 335 | |
000000007::0 | This marked the 65th consecutive year of dividend increases for 3M. | 000000007 | 0 | 0 | 67 | |
000000008::0 | Table of Contents
ACTIVISION BLIZZARD, INC. | 000000008 | 0 | 0 | 43 | |
000000008::1 | SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amounts in millions, except share data)
At December 31, 2019
At December 31, 2018
Assets
Current assets:
Cash and cash equivalents
$
5,794
$
4,225
Accounts receivable, net of allowances of $132 and $190, at December 31, 2019 and December 31, 2018, respectively
8... | 000000008 | 1 | 47 | 374 | |
000000008::2 | 035
Inventories, net
32
43
Software development
322
264
Other current assets
296
539
Total current assets
7,292
6,106
Software development
54
65
Property and equipment, net
253
282
Deferred income taxes, net
1,293
458
Other assets
658
482
Intangible assets, net
531
735
Goodwill
9,764
| 000000008 | 2 | 374 | 679 | |
000000008::3 | 9,762
Total assets
$
19,845
$
17,890
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable
$
292
$
253
Deferred revenues
1,375
1,493
Accrued expenses and other liabilities
1,248
896
Total current liabilities
2,915
2,642
Long-term debt, net
2,675
2,671
Deferred income taxe... | 000000008 | 3 | 679 | 1,001 | |
000000008::4 | net
505
18
Other liabilities
945
1,167
Total liabilities
7,040
6,498
Commitments and contingencies (Note 23)
Shareholders’ equity:
Common stock, $0.000001 par value, 2,400,000,000 shares authorized, 1,197,436,644 and 1,192,093,991 shares issued at
December 31, | 000000008 | 4 | 1,001 | 1,276 | |
000000008::5 | 2019 and December 31, 2018, respectively
—
—
Additional paid-in capital
11,174
10,963
Less: Treasury stock, at cost, 428,676,471 shares at December 31, 2019 and December 31, 2018
(5,563)
(5,563)
Retained earnings
7,813
6,593
Accumulated other comprehensive loss
(6 | 000000008 | 5 | 1,276 | 1,549 | |
000000008::6 | 19)
(601)
Total shareholders’ equity
12,805
11,392
Total liabilities and shareholders’ equity
$
19,845
$
17,890
The accompanying notes are an integral part of these Consolidated Financial Statements. | 000000008 | 6 | 1,549 | 1,753 | |
000000008::7 | F-4___FINANCEBENCH_DELIMITER___Table of Contents
ACTIVISION BLIZZARD, INC. | 000000008 | 7 | 1,754 | 1,828 | |
000000008::8 | SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in millions, except per share data)
For the Years Ended December 31,
2019
2018
2017
Net revenues
Product sales
$
1,975
$
2,255 $
2,110
Subscription, licensing, and other revenues
4,514
5,245
4,907
Total net revenues
6,489
7,500
| 000000008 | 8 | 1,832 | 2,148 | |
000000008::9 | 7,017
Costs and expenses
Cost of revenues—product sales:
Product costs
656
719
733
Software royalties, amortization, and intellectual property licenses
240
371
300
Cost of revenues—subscription, licensing, and other revenues:
Game operations and distribution costs
965
1,028 ... | 000000008 | 9 | 2,148 | 2,585 | |
000000008::10 | 1,101
1,069
Sales and marketing
926
1,062
1,378
General and administrative
732
822
745
Restructuring and related costs
132
10
15
Total costs and expenses
4,882
5,512
5,708
Operating income
1,607
1,988
1,309
Interest and other expense (income), net (Note 18)
(2 | 000000008 | 10 | 2,585 | 2,877 | |
000000008::11 | 6)
71
146
Loss on extinguishment of debt
—
40
12
Income before income tax expense
1,633
1,877
1,151
Income tax expense
130
29
878
Net income
$
1,503
$
1,848 $
273
Earnings per common share
Basic
$
1.96
$
2.43 $
0.36
Diluted
$ | 000000008 | 11 | 2,877 | 3,141 | |
000000008::12 |
1.95
$
2.40 $
0.36
Weighted-average number of shares outstanding
Basic
767
762
754
Diluted
771
771
766
The accompanying notes are an integral part of these Consolidated Financial Statements. | 000000008 | 12 | 3,141 | 3,361 | |
000000008::13 | F-5 | 000000008 | 13 | 3,362 | 3,365 | |
000000009::0 | Table of Contents
ACTIVISION BLIZZARD, INC. | 000000009 | 0 | 0 | 43 | |
000000009::1 | SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in millions, except per share data)
For the Years Ended December 31,
2019
2018
2017
Net revenues
Product sales
$
1,975
$
2,255 $
2,110
Subscription, licensing, and other revenues
4,514
5,245
4,907
Total net revenues
6,489
7,500
| 000000009 | 1 | 47 | 363 | |
000000009::2 | 7,017
Costs and expenses
Cost of revenues—product sales:
Product costs
656
719
733
Software royalties, amortization, and intellectual property licenses
240
371
300
Cost of revenues—subscription, licensing, and other revenues:
Game operations and distribution costs
965
1,028 ... | 000000009 | 2 | 363 | 800 | |
000000009::3 | 1,101
1,069
Sales and marketing
926
1,062
1,378
General and administrative
732
822
745
Restructuring and related costs
132
10
15
Total costs and expenses
4,882
5,512
5,708
Operating income
1,607
1,988
1,309
Interest and other expense (income), net (Note 18)
(2 | 000000009 | 3 | 800 | 1,092 | |
000000009::4 | 6)
71
146
Loss on extinguishment of debt
—
40
12
Income before income tax expense
1,633
1,877
1,151
Income tax expense
130
29
878
Net income
$
1,503
$
1,848 $
273
Earnings per common share
Basic
$
1.96
$
2.43 $
0.36
Diluted
$ | 000000009 | 4 | 1,092 | 1,356 | |
000000009::5 |
1.95
$
2.40 $
0.36
Weighted-average number of shares outstanding
Basic
767
762
754
Diluted
771
771
766
The accompanying notes are an integral part of these Consolidated Financial Statements. | 000000009 | 5 | 1,356 | 1,576 | |
000000009::6 | F-5___FINANCEBENCH_DELIMITER___Table of Contents
ACTIVISION BLIZZARD, INC. | 000000009 | 6 | 1,577 | 1,651 | |
000000009::7 | SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in millions)
For the Years Ended December 31,
2019
2018
2017
Cash flows from operating activities:
Net income
$
1,503
$
1,848
$
273
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income... | 000000009 | 7 | 1,655 | 2,012 | |
000000009::8 | for inventories
6
6
33
Non-cash operating lease cost
64
—
—
Depreciation and amortization
328
509
888
Amortization of capitalized software development costs and intellectual property licenses (1)
225
489
311
Loss on extinguishment of debt
—
40
12
Share-based compensation expense (2)
166
209
176... | 000000009 | 8 | 2,012 | 2,387 | |
000000009::9 | —
—
Other
51
7
40
Changes in operating assets and liabilities, net of effect from business acquisitions:
Accounts receivable, net
182
(114)
(165)
Inventories
7
(5)
(26)
Software development and intellectual property licenses
(275)
(372)
(301)
Other assets
164
(51)
(97)
Deferred revenues
... | 000000009 | 9 | 2,387 | 2,724 | |
000000009::10 | 20
Accounts payable
31
(65)
85
Accrued expenses and other liabilities
(77)
(554)
945
Net cash provided by operating activities
1,831
1,790
2,213
Cash flows from investing activities:
Proceeds from maturities of available-for-sale investments
153
116
80
Purchases of available-for-sale investmen... | 000000009 | 10 | 2,724 | 3,092 | |
000000009::11 | 6)
(131)
(155)
Other investing activities
6
(6)
3
Net cash used in investing activities
(22)
(230)
(207)
Cash flows from financing activities:
Proceeds from issuance of common stock to employees
105
99
178
Tax payment related to net share settlements on restricted stock units
(59)
(94)
(56... | 000000009 | 11 | 3,092 | 3,447 | |
000000009::12 | 26)
Proceeds from debt issuances, net of discounts
—
—
3,741
Repayment of long-term debt
—
(1,740)
(4,251)
Premium payment for early redemption of note
—
(25)
—
Other financing activities
—
(1)
(10)
Net cash used in financing activities
(237)
(2,020)
(624)
Effect of foreign exchange rate changes on ... | 000000009 | 12 | 3,447 | 3,795 | |
000000009::13 | )
(31)
76
Net increase (decrease) in cash and cash equivalents and restricted cash
1,569
(491)
1,458
Cash and cash equivalents and restricted cash at beginning of period
4,229
4,720
3,262
Cash and cash equivalents and restricted cash at end of period
$
5,798
$
4,229
$
4,720
(1)
Excludes deferral and amort... | 000000009 | 13 | 3,795 | 4,159 | |
000000009::14 | (2)
Includes the net effects of capitalization, deferral, and amortization of share-based compensation expense.
The accompanying notes are an integral part of these Consolidated Financial Statements.
F-8 | 000000009 | 14 | 4,160 | 4,363 | |
000000010::0 | 59
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(In thousands, except par value)
November 27,
2015
November 28,
2014
ASSETS
Current assets:
Cash and cash equivalents.................................................................................................................... $
876,560
$
1,117,40... | 000000010 | 0 | 0 | 544 | |
000000010::1 | of $7,293 and $7,867, respectively........
672,006
591,800
Deferred income taxes..........................................................................................................................
—
95,279
Prepaid expenses and other current assets .................................................................... | 000000010 | 1 | 544 | 1,225 | |
000000010::2 | 123
Goodwill .................................................................................................................................................
5,366,881
4,721,962
Purchased and other intangibles, net.......................................................................................................
5... | 000000010 | 2 | 1,225 | 2,051 | |
000000010::3 | ,785,829
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade payables...................................................................................................................................... $
93,307
$
68,377
Accrued expenses..................................................................... | 000000010 | 3 | 2,051 | 2,905 | |
000000010::4 | 65
23,920
Deferred revenue..................................................................................................................................
1,434,200
1,097,923
Total current liabilities....................................................................................................................
2... | 000000010 | 4 | 2,905 | 3,735 | |
000000010::5 | ,214
5,194
Income taxes payable...........................................................................................................................
256,129
125,746
Deferred income taxes..........................................................................................................................
208,2... | 000000010 | 5 | 3,735 | 4,481 | |
000000010::6 | value; 2,000 shares authorized; none issued..........................................
—
—
Common stock, $0.0001 par value; 900,000 shares authorized; 600,834 shares issued;
497,809 and 497,484 shares outstanding, respectively......................................................................
61
61
Additional pai... | 000000010 | 6 | 4,481 | 5,102 | |
000000010::7 | 3,431
6,924,294
Accumulated other comprehensive income (loss) ...............................................................................
(169,080)
(8,094)
Treasury stock, at cost (103,025 and 103,350 shares, respectively), net of reissuances......................
(4,267,715)
(3,918,851)
Total stockholders’ equity.... | 000000010 | 7 | 5,102 | 5,546 | |
000000010::8 | 75,905
Total liabilities and stockholders’ equity........................................................................................ $
11,726,472
$
10,785,829
See accompanying Notes to Consolidated Financial Statements.___FINANCEBENCH_DELIMITER___63
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED STATEMENTS OF CASH FLOWS... | 000000010 | 8 | 5,546 | 5,977 | |
000000010::9 | activities:
Net income..................................................................................................................... $
629,551
$
268,395
$
289,985
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion.......................... | 000000010 | 9 | 5,977 | 6,586 | |
000000010::10 | ..............................
(69,657)
(26,089)
29,704
Gain on the sale of property .....................................................................................
(21,415)
—
—
Write down of assets held for sale............................................................................
—
—
23,151
Unrealized (ga... | 000000010 | 10 | 6,586 | 7,132 | |
000000010::11 |
25,290
Excess tax benefits from stock-based compensation................................................
(68,153)
(53,235)
(40,619)
Other non-cash items................................................................................................
1,216
1,889
5,654
Changes in operating assets and liabilities, net of ... | 000000010 | 11 | 7,132 | 7,669 | |
000000010::12 | assets .............................................................
(7,701)
(1,918)
(55,509)
Trade payables .......................................................................................................
22,870
6,211
7,132
Accrued expenses.......................................................................... | 000000010 | 12 | 7,669 | 8,296 | |
000000010::13 | 01
11,006
(58,875)
Deferred revenue....................................................................................................
320,801
326,438
201,366
Net cash provided by operating activities.........................................................
1,469,502
1,287,482
1,151,686
Cash flows from investing activ... | 000000010 | 13 | 8,296 | 8,763 | |
000000010::14 | )
(2,058,058)
Maturities of short-term investments.............................................................................
371,790
272,076
360,485
Proceeds from sales of short-term investments .............................................................
1,176,476
1,443,577
1,449,961
Acquisitions, net of cash acqu... | 000000010 | 14 | 8,763 | 9,197 | |
000000010::15 | )
Purchases of property and equipment............................................................................
(184,936)
(148,332)
(188,358)
Proceeds from sale of property ......................................................................................
57,779
—
24,260
Purchases of long-term investments, intang... | 000000010 | 15 | 9,197 | 9,717 | |
000000010::16 | 32
6,233
Net cash used for investing activities ...............................................................
(1,488,358)
(490,707)
(1,177,803)
Cash flows from financing activities:
Purchases of treasury stock............................................................................................
(625,000)
(6... | 000000010 | 16 | 9,717 | 10,184 | |
000000010::17 | 598,194
Cost of issuance of treasury stock..................................................................................
(186,373)
(173,675)
(97,418)
Excess tax benefits from stock-based compensation.....................................................
68,153
53,235
40,619
Proceeds from debt and capital lease oblig... | 000000010 | 17 | 10,184 | 10,701 | |
000000010::18 | 9)
(14,684)
(25,879)
Debt issuance costs ........................................................................................................
(8,828)
—
(357)
Net cash used for financing activities...............................................................
(200,687)
(507,283)
(559,138)
Effect of foreign currency... | 000000010 | 18 | 10,701 | 11,132 | |
000000010::19 | crease) in cash and cash equivalents.......................................................
(240,840)
282,844
(590,496)
Cash and cash equivalents at beginning of year...............................................................
1,117,400
834,556
1,425,052
Cash and cash equivalents at end of year ........................ | 000000010 | 19 | 11,132 | 11,565 | |
000000010::20 | Cash paid for income taxes, net of refunds.................................................................... $
203,010
$
20,140
$
129,701
Cash paid for interest ..................................................................................................... $
56,014
$
68,886
$
64,843
Non-cash investing activitie... | 000000010 | 20 | 11,565 | 12,096 | |
000000010::21 | 77
$
21
$
1,160
See accompanying Notes to Consolidated Financial Statements. | 000000010 | 21 | 12,096 | 12,172 | |
000000011::0 | Table of Contents
62
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
Years Ended
December 2,
2016
November 27,
2015
November 28,
2014
Revenue:
Subscription
$
4,584,833
$
3,223,904
$
2,076,584
Product
800,498
1,125, | 000000011 | 0 | 0 | 271 | |
000000011::1 | 146
1,627,803
Services and support
469,099
446,461
442,678
Total revenue
5,854,430
4,795,511
4,147,065
Cost of revenue:
Subscription
461,860
409,194
335,432
Product
68,917
90,035
97,099 | 000000011 | 1 | 271 | 458 | |
000000011::2 |
Services and support
289,131
245,088
189,549
Total cost of revenue
819,908
744,317
622,080
Gross profit
5,034,522
4,051,194
3,524,985
Operating expenses:
Research and development
975,987
862,730
844,353
Sales and marketing
| 000000011 | 2 | 458 | 686 | |
000000011::3 | 1,910,197
1,683,242
1,652,308
General and administrative
577,710
531,919
543,332
Restructuring and other charges
(1,508)
1,559
19,883
Amortization of purchased intangibles
78,534
68,649
52,424
Total operating expenses
3,540,92 | 000000011 | 3 | 686 | 912 | |
000000011::4 | 0
3,148,099
3,112,300
Operating income
1,493,602
903,095
412,685
Non-operating income (expense):
Interest and other income (expense), net
13,548
33,909
7,267
Interest expense
(70,442)
(64,184)
(59,732)
Investment gains (losses), net
( | 000000011 | 4 | 912 | 1,150 | |
000000011::5 | 1,570)
961
1,156
Total non-operating income (expense), net
(58,464)
(29,314)
(51,309)
Income before income taxes
1,435,138
873,781
361,376
Provision for income taxes
266,356
244,230
92,981
Net income
$
1,168,782 | 000000011 | 5 | 1,150 | 1,361 | |
000000011::6 |
$
629,551
$
268,395
Basic net income per share
$
2.35
$
1.26
$
0.54
Shares used to compute basic net income per share
498,345
498,764
497,867
Diluted net income per share
$
2.32
$
1.24
$
0.53
Shares used to compute diluted net income per share
504,299 | 000000011 | 6 | 1,361 | 1,613 | |
000000011::7 |
507,164
508,480
See accompanying Notes to Consolidated Financial Statements. | 000000011 | 7 | 1,613 | 1,692 | |
000000012::0 | Table of Contents
57
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(In thousands, except par value)
December 1,
2017
December 2,
2016
ASSETS
Current assets:
Cash and cash equivalents
$
2,306,072
$
1,011,315
Short-term investments
3,513,702
3,749,985
Trade receivables, net of allowances for doubtful acc... | 000000012 | 0 | 0 | 330 | |
000000012::1 | 9,151 and $6,214, respectively
1,217,968
833,033
Prepaid expenses and other current assets
210,071
245,441
Total current assets
7,247,813
5,839,774
Property and equipment, net
936,976
816,264
Goodwill
5,821,561
5,406,474
Purchased | 000000012 | 1 | 330 | 560 | |
000000012::2 | and other intangibles, net
385,658
414,405
Investment in lease receivable
—
80,439
Other assets
143,548
139,890
Total assets
$
14,535,556
$
12,697,246
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade payables
$
113,538
$
88,024
| 000000012 | 2 | 560 | 808 | |
000000012::3 | Accrued expenses
993,773
739,630
Income taxes payable
14,196
38,362
Deferred revenue
2,405,950
1,945,619
Total current liabilities
3,527,457
2,811,635
Long-term liabilities:
Debt and capital lease obligations
1,881,421
1,892,200
Deferred revenue
88,592
| 000000012 | 3 | 808 | 1,061 | |
000000012::4 | 69,131
Income taxes payable
173,088
184,381
Deferred income taxes
279,941
217,660
Other liabilities
125,188
97,404
Total liabilities
6,075,687
5,272,411
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value; 2,000 shares authorized; none issued
—
| 000000012 | 4 | 1,061 | 1,345 | |
000000012::5 | —
Common stock, $0.0001 par value; 900,000 shares authorized; 600,834 shares issued;
491,262 and 494,254 shares outstanding, respectively
61
61
Additional paid-in-capital
5,082,195
4,616,331
Retained earnings
9,573,870
8,114,517
Accumulated other comprehensive income (loss)
(1 | 000000012 | 5 | 1,345 | 1,625 | |
000000012::6 | 11,821)
(173,602)
Treasury stock, at cost (109,572 and 106,580 shares, respectively), net of reissuances
(6,084,436)
(5,132,472)
Total stockholders’ equity
8,459,869
7,424,835
Total liabilities and stockholders’ equity
$
14,535,556
$
12, | 000000012 | 6 | 1,625 | 1,862 | |
000000012::7 | 697,246
See accompanying Notes to Consolidated Financial Statements.___FINANCEBENCH_DELIMITER___Table of Contents
61
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Years Ended
December 1,
2017
December 2,
2016
November 27,
2015
Cash flows from operating activities:
Net income
$... | 000000012 | 7 | 1,862 | 2,206 | |
000000012::8 |
629,551
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion
325,997
331,535
339,473
Stock-based compensation
451,451
349,912
335,859
Deferred income taxes
51,605
24,222
(69,657)
Gain on the sale of property
—
—
(21 | 000000012 | 8 | 2,206 | 2,492 | |
000000012::9 | ,415)
Unrealized (gains) losses on investments
(5,494)
3,145
(9,210)
Excess tax benefits from stock-based compensation
—
(75,105)
(68,153)
Other non-cash items
4,625
2,022
1,216
Changes in operating assets and liabilities, net of acquired assets and
assumed liabilities:
Trade receivables, net
(187,173)
( | 000000012 | 9 | 2,492 | 2,801 |
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