filings.toolsItem 6. SELECTED FINANCIAL DATA
5K characters. Original on sec.gov · Markdown
Item 6. SELECTED FINANCIAL DATA
The following selected consolidated financial data is derived from our Consolidated Financial Statements. As our historical operating results are not necessarily indicative of future operating results, this data should be read in conjunction with the Consolidated Financial Statements and notes thereto, and with Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.
On November 30, 2019, the beginning of our fiscal year 2020, we adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842), using the alternative modified retrospective transition method provided in ASU 2018-11, Leases (Topic 842): Targeted Improvements. Similarly, on December 1, 2018, the beginning of our fiscal year 2019, we adopted the FASB’s ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), using the modified retrospective method of transition. Financial information prior to the respective periods of adoption has not been restated and continues to be reported under the accounting standards in effect for those periods.
| (in millions, except per share amounts and employee data) | Fiscal Years | ||||||||||||||||||||||||||||
| 2020 | 2019 | 2018 | 2017 | 2016**(2)** | |||||||||||||||||||||||||
| Operations: | |||||||||||||||||||||||||||||
| Revenue | $ | 12,868 | $ | 11,171 | $ | 9,030 | $ | 7,302 | $ | 5,854 | |||||||||||||||||||
| Gross profit | $ | 11,146 | $ | 9,498 | $ | 7,835 | $ | 6,291 | $ | 5,035 | |||||||||||||||||||
| Income before income taxes | $ | 4,176 | $ | 3,205 | $ | 2,794 | $ | 2,138 | $ | 1,435 | |||||||||||||||||||
| Net income | $ | 5,260 | $ | 2,951 | $ | 2,591 | $ | 1,694 | $ | 1,169 | |||||||||||||||||||
| Net income per share: | |||||||||||||||||||||||||||||
| Basic | $ | 10.94 | $ | 6.07 | $ | 5.28 | $ | 3.43 | $ | 2.35 | |||||||||||||||||||
| Diluted | $ | 10.83 | $ | 6.00 | $ | 5.20 | $ | 3.38 | $ | 2.32 | |||||||||||||||||||
| Shares used to compute basic net income per share | 481 | 486 | 491 | 494 | 498 | ||||||||||||||||||||||||
| Shares used to compute diluted net income per share | 485 | 492 | 498 | 501 | 504 | ||||||||||||||||||||||||
| Financial position: | |||||||||||||||||||||||||||||
| Cash, cash equivalents and short-term investments | $ | 5,992 | $ | 4,177 | $ | 3,229 | $ | 5,820 | $ | 4,761 | |||||||||||||||||||
| Working capital(1) | $ | 2,634 | $ | (1,696) | $ | 556 | $ | 3,720 | $ | 3,028 | |||||||||||||||||||
| Total assets | $ | 24,284 | $ | 20,762 | $ | 18,769 | $ | 14,536 | $ | 12,697 | |||||||||||||||||||
| Debt, current | $ | — | $ | 3,149 | $ | — | $ | — | $ | — | |||||||||||||||||||
| Debt, non-current | $ | 4,117 | $ | 989 | $ | 4,125 | $ | 1,881 | $ | 1,892 | |||||||||||||||||||
| Stockholders’ equity | $ | 13,264 | $ | 10,530 | $ | 9,362 | $ | 8,460 | $ | 7,425 | |||||||||||||||||||
| Additional data: | |||||||||||||||||||||||||||||
| Worldwide employees | 22,516 | 22,634 | 21,357 | 17,973 | 15,706 |
(1)As of November 29, 2019, working capital was in a deficit primarily due to the reclassification of our $2.25 billion term loan due April 30, 2020 and $900 million 4.75% senior notes due February 1, 2020 to current liabilities. We subsequently refinanced our Term Loan and 2020 Notes in February 2020, before the respective due dates.
(2)Our fiscal year is a 52- or 53-week year that ends on the Friday closest to November 30. Fiscal 2016 was a 53-week fiscal year compared with the other periods presented which were 52-week fiscal years.
Previous: Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES · Next: Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS