2017 Q2 Form 10-Q Financial Statement

#000079634317000130 Filed on June 28, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $1.772B $1.399B
YoY Change 26.7% 20.35%
Cost Of Revenue $239.4M $202.1M
YoY Change 18.45% 9.13%
Gross Profit $1.533B $1.197B
YoY Change 28.1% 22.48%
Gross Profit Margin 86.49% 85.55%
Selling, General & Admin $710.0M $600.9M
YoY Change 18.16% 7.85%
% of Gross Profit 46.32% 50.22%
Research & Development $299.4M $232.5M
YoY Change 28.78% 11.75%
% of Gross Profit 19.53% 19.43%
Depreciation & Amortization $81.60M $84.50M
YoY Change -3.43% -1.74%
% of Gross Profit 5.32% 7.06%
Operating Expenses $1.029B $852.4M
YoY Change 20.69% 8.81%
Operating Profit $504.1M $344.2M
YoY Change 46.43% 77.79%
Interest Expense $18.35M $17.17M
YoY Change 6.83% 3.43%
% of Operating Profit 3.64% 4.99%
Other Income/Expense, Net -$11.46M -$14.41M
YoY Change -20.44% 13.97%
Pretax Income $492.6M $329.8M
YoY Change 49.36% 82.25%
Income Tax $118.2M $85.76M
% Of Pretax Income 24.0% 26.0%
Net Earnings $374.4M $244.1M
YoY Change 53.39% 65.48%
Net Earnings / Revenue 21.13% 17.45%
Basic Earnings Per Share $0.76 $0.49
Diluted Earnings Per Share $0.75 $0.48
COMMON SHARES
Basic Shares Outstanding 494.4M shares 500.0M shares
Diluted Shares Outstanding 500.4M shares 504.7M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.932B $4.318B
YoY Change 14.22% 26.52%
Cash & Equivalents $1.317B $886.4M
Short-Term Investments $3.615B $3.432B
Other Short-Term Assets $220.0M $253.0M
YoY Change -13.04% -3.8%
Inventory
Prepaid Expenses
Receivables $901.5M $666.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.052B $5.239B
YoY Change 15.53% 25.37%
LONG-TERM ASSETS
Property, Plant & Equipment $924.1M $796.1M
YoY Change 16.08% 1.39%
Goodwill $5.789B $5.445B
YoY Change 6.32% 1.03%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $146.1M $163.0M
YoY Change -10.37% 9.23%
Total Long-Term Assets $7.313B $6.978B
YoY Change 4.79% -0.13%
TOTAL ASSETS
Total Short-Term Assets $6.052B $5.239B
Total Long-Term Assets $7.313B $6.978B
Total Assets $13.36B $12.22B
YoY Change 9.4% 9.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $77.91M $75.58M
YoY Change 3.07% 33.68%
Accrued Expenses $865.4M $661.0M
YoY Change 30.92% 2.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.048B $2.386B
YoY Change 27.76% 23.16%
LONG-TERM LIABILITIES
Long-Term Debt $1.888B $1.918B
YoY Change -1.56% 0.72%
Other Long-Term Liabilities $112.3M $96.95M
YoY Change 15.83% 13.8%
Total Long-Term Liabilities $112.3M $96.95M
YoY Change 15.83% -95.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.048B $2.386B
Total Long-Term Liabilities $112.3M $96.95M
Total Liabilities $5.561B $4.968B
YoY Change 11.93% 9.06%
SHAREHOLDERS EQUITY
Retained Earnings $8.653B $7.444B
YoY Change 16.24% 8.21%
Common Stock $61.00K $61.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.539B $4.491B
YoY Change 23.34% 8.62%
Treasury Stock Shares 101.9M shares
Shareholders Equity $7.804B $7.249B
YoY Change
Total Liabilities & Shareholders Equity $13.36B $12.22B
YoY Change 9.4% 9.42%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $374.4M $244.1M
YoY Change 53.39% 65.48%
Depreciation, Depletion And Amortization $81.60M $84.50M
YoY Change -3.43% -1.74%
Cash From Operating Activities $644.8M $488.7M
YoY Change 31.94% 3.65%
INVESTING ACTIVITIES
Capital Expenditures -$55.30M -$53.80M
YoY Change 2.79% 50.28%
Acquisitions
YoY Change
Other Investing Activities -$32.20M -$197.8M
YoY Change -83.72% 6081.25%
Cash From Investing Activities -$87.50M -$251.5M
YoY Change -65.21% 546.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -314.4M -180.9M
YoY Change 73.8% -2.79%
NET CHANGE
Cash From Operating Activities 644.8M 488.7M
Cash From Investing Activities -87.50M -251.5M
Cash From Financing Activities -314.4M -180.9M
Net Change In Cash 242.9M 56.30M
YoY Change 331.44% -77.16%
FREE CASH FLOW
Cash From Operating Activities $644.8M $488.7M
Capital Expenditures -$55.30M -$53.80M
Free Cash Flow $700.1M $542.5M
YoY Change 29.05% 6.94%

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us-gaap Cost Of Goods Sold Subscription
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CostOfRevenue
202079000 USD
us-gaap Cost Of Revenue
CostOfRevenue
400651000 USD
CY2017Q2 us-gaap Cost Of Revenue
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239360000 USD
us-gaap Cost Of Revenue
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476697000 USD
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us-gaap Cost Of Services
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CostOfServices
81138000 USD
us-gaap Cost Of Services
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162961000 USD
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us-gaap Deferred Income Taxes And Tax Credits
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us-gaap Depreciation Depletion And Amortization
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3705000 USD
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0.49
us-gaap Earnings Per Share Basic
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1.00
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0.76
us-gaap Earnings Per Share Basic
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0.48
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.99
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us-gaap Earnings Per Share Diluted
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1.54
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P2Y2M1D
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65289000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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0 USD
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65289000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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0 USD
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543667000 USD
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
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ForeignCurrencyTransactionGainLossBeforeTax
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1729000 USD
us-gaap Gain Loss On Investments
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4286000 USD
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us-gaap General And Administrative Expense
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284646000 USD
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us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
307737000 USD
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Goodwill
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us-gaap Gross Profit
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us-gaap Gross Profit
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329830000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2017Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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33943000 USD
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-18723000 USD
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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39875000 USD
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Deferred Revenue
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191722000 USD
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55578000 USD
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103044000 USD
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-8622000 USD
us-gaap Increase Decrease In Receivables
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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575000 shares
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
343000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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365000 shares
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InterestExpense
17174000 USD
us-gaap Interest Expense
InterestExpense
35643000 USD
CY2017Q2 us-gaap Interest Expense
InterestExpense
18347000 USD
us-gaap Interest Expense
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36477000 USD
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us-gaap Interest Paid Net
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29373000 USD
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us-gaap Net Cash Provided By Used In Operating Activities
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NonoperatingIncomeExpense
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NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Operating Income Loss
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
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CY2017Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
40000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
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0 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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1345000 USD
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288000 USD
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246000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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164000 USD
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315000 USD
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149000 USD
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OtherComprehensiveIncomeLossTax
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OtherComprehensiveIncomeLossTax
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
0 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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0 USD
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0 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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0 USD
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20250000 USD
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8665000 USD
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40000 USD
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OtherNonoperatingIncome
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CY2017Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
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OtherNonoperatingIncome
12360000 USD
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OtherNonoperatingIncomeExpense
5000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
41000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
61000 USD
us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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500000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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48427000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Longterm Investments
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52563000 USD
us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
20608000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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99959000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Payments To Acquire Short Term Investments
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0.0001
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2000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Issued
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CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
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us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
409830000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
255000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
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764000 USD
us-gaap Proceeds From Sale Of Short Term Investments
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us-gaap Proceeds From Sale Of Treasury Stock
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us-gaap Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
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CY2016Q4 us-gaap Property Plant And Equipment Net
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CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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31655000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
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us-gaap Repayments Of Long Term Debt And Capital Securities
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912000 USD
CY2016Q2 us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
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232484000 USD
us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
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CY2017Q2 us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
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us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
584478000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
8114517000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2016Q2 us-gaap Revenues
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us-gaap Revenues
Revenues
2782044000 USD
CY2017Q2 us-gaap Revenues
Revenues
1772190000 USD
us-gaap Revenues
Revenues
3453836000 USD
CY2016Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
43113000 USD
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SalesAndExciseTaxPayableCurrent
39348000 USD
CY2016Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
196500000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
397612000 USD
CY2017Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
171545000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
354930000 USD
CY2016Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
118501000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
230474000 USD
CY2017Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
116955000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
231360000 USD
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
462789000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
937680000 USD
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
553098000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1073395000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
177879000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
214359000 USD
CY2016Q2 us-gaap Share Price
SharePrice
98.70
CY2017Q2 us-gaap Share Price
SharePrice
143.48
CY2016Q4 us-gaap Short Term Investments
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ShortTermInvestments
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us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
234601000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
7424835000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
7803998000 USD
CY2016Q2 us-gaap Subscription Revenue
SubscriptionRevenue
1083708000 USD
us-gaap Subscription Revenue
SubscriptionRevenue
2153958000 USD
CY2017Q2 us-gaap Subscription Revenue
SubscriptionRevenue
1483690000 USD
us-gaap Subscription Revenue
SubscriptionRevenue
2867546000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
90.61
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
118.00
CY2016Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
106580000 shares
CY2017Q2 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
107510000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3700000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
4300000 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
5132472000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
5538849000 USD
us-gaap Unrealized Gain Loss On Investments
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-5387000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
2600000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
504725000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
505666000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
500351000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
501032000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
499974000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
499534000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
494371000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
494492000 shares

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0000796343-17-000130-xbrl.zip Edgar Link pending
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adbe-20170602_def.xml Edgar Link unprocessable
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