microsoft annual report 2018
Dezember 29th, 2020 by
Founder, Chief Executive There was no impact to our consolidated financial statements. As of June 30, 2020, an aggregate of 283 million shares were authorized for future grant under our stock plans. We’ve witnessed years of digital transformation in mere months. STATEMENT OF MANAGEMENTâS RESPONSIBILITY FOR FINANCIAL STATEMENTS. Recent Accounting Guidance Not Yet Adopted. The fair value of stock awards is based on the quoted price of our common stock on the grant date less the present value of expected dividends not received during the vesting period. We expect to recognize approximately 50% of this revenue over the next 12 months and the remainder thereafter. There will be 175 zettabytes of data by 2025, and processing this data in real time will be an imperative for every organization. Our platforms and tools help drive small business productivity, large business competitiveness, and public-sector efficiency. It is in times like these that our ability to stay true to Microsoft’s mission and corporate purpose is of the utmost importance. President, and Chief Financial As of June 30, 2020, the primary unresolved issues for the IRS audits relate to transfer pricing, which could have a material impact in our consolidated financial statements when the matters are resolved. Windows, including Windows OEM licensing and other non-volume licensing of the Windows operating system; Windows Commercial, comprising volume licensing of the Windows operating system, Windows cloud services, and other Windows commercial offerings; patent licensing; Windows Internet of Things; and MSN advertising. Debt investments are impaired when a decline in fair value is judged to be other-than-temporary. Were unfavorable final outcomes to occur, there exists the possibility of a material adverse impact in our consolidated financial statements for the period in which the effects become reasonably estimable. Commercial remaining performance obligation, Commercial portion of revenue allocated to remaining performance obligations, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods, Revenue from our commercial cloud business, which includes Office 365 Commercial, Azure, the commercial portion of LinkedIn, Dynamics 365, and other commercial cloud properties, Gross margin percentage for our commercial cloud business, Productivity and Business Processes and Intelligent Cloud. This change in accounting estimate will be effective beginning fiscal year 2021. These levels are: We measure equity investments without readily determinable fair values on a nonrecurring basis. We perform a qualitative assessment on a quarterly basis. The estimated useful lives of our property and equipment are generally as follows: computer software developed or acquired for internal use, three to seven years; computer equipment, two to three years; buildings and improvements, five to 15 years; leasehold improvements, three to 20 years; and furniture and equipment, one to 10 years. Azure enables customers to devote more resources to development and use of applications that benefit their organizations, rather than managing on-premises hardware and software. Annual balance sheet by MarketWatch. We’ve released guidelines, software development tools, and other resources to enable our developer community to do the same. We work to ensure that technology is inclusive, trusted, and increases sustainability. We strive to make computing more personal by putting users at the core of the experience, enabling them to interact with technology in more intuitive, engaging, and dynamic ways. The fair values of these investments approximate their carrying values. Lindsay-Rae McIntyre - Chief Diversity Officer, Microsoft. Operating income increased $2.4 billion or 21%. Eligible U.S. employees may contribute a portion of their salary into the savings plans, subject to certain limitations. Windows Commercial products and cloud services revenue increased 14%, driven by an increased mix of multi-year agreements that carry higher in-quarter revenue recognition. Compensation cost for stock awards, which include restricted stock units (âRSUsâ) and performance stock units (âPSUsâ), is measured at the fair value on the grant date and recognized as expense, net of estimated forfeitures, over the related service or performance period. The world is at an inflection point, and digital technology will be key to defining what comes next. Our goal is to maintain the Investor Relations website as a portal through which investors can easily find or navigate to pertinent information about us, including: The information found on our website is not part of this or any other report we file with, or furnish to, the SEC. We fundamentally believe that we need a culture founded in a growth mindset. The components of intangible assets, all of which are finite-lived, were as follows: No material impairments of intangible assets were identified during fiscal years 2020, 2019, or 2018. In a time of great disruption and uncertainty, customers are looking to us to accelerate their own digital transformations as software and cloud computing play a huge role across every industry and around the world. Former Executive Vice President and We allocate goodwill to reporting units based on the reporting unit expected to benefit from the business combination. This report includes estimates, projections, statements relating to our business plans, objectives, and expected operating results that are âforward-looking statementsâ within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Microsoft 365 brings together Office 365, Windows 10, and Enterprise Mobility + Security to help organizations empower their employees with AI-backed tools that unlock creativity, increase teamwork, and fuel innovation, all the while enabling compliance coverage and data protection. The above table excludes shares repurchased to settle employee tax withholding related to the vesting of stock awards of $3.3 billion, $2.7 billion, and $2.1 billion for fiscal years 2020, 2019, and 2018, respectively. These reviews include analysis of demand forecasts, product life cycle status, product development plans, current sales levels, pricing strategy, and component cost trends. We also fund research and development activities at the operating segment level. Management conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control â Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Executive Vice President, Marketing and Consumer Lease expense for lease payments is recognized on a straight-line basis over the lease term. And, we are well positioned to not only participate in that growth but drive it by expanding our impact and building the key technologies that empower every person and every organization on the planet to achieve more. Chief Accounting Officer. Operating Partner, Certain acquired net operating loss carryforwards are subject to an annual limitation, but are expected to be realized with the exception of those which have a valuation allowance. In fiscal year 2020, we removed $2.0 billion of foreign net operating losses and corresponding valuation allowances as a result of the liquidation of a foreign subsidiary. Based on current market conditions, adoption of the standard will not have a material impact on our consolidated financial statements. In particular, among the responsibilities of the Boardâs Regulatory and Public Policy Committee is to review and provide guidance to the Board and management about the Companyâs policies and programs that relate to CSR. Adoption of the standard enhanced the presentation of the effects of our hedging instruments and the hedged items in our consolidated financial statements to increase the understandability of the results of our hedging strategies. In device and data management, Microsoft Endpoint Manager monitors and manages an organization’s devices in a unified management platform. Codespaces brings together the best of GitHub, Visual Studio, and Azure to help developers go from code to cloud in seconds. As of June 30, 2020, $31.7 billion remained of this $40.0 billion share repurchase program. Artificial intelligence (âAIâ) capabilities are rapidly advancing, fueled by data and knowledge of the world. Our hybrid infrastructure consistency spans identity, data, compute, management, and security, helping to support the real-world needs and evolving regulatory requirements of commercial customers and enterprises. Cash from operations increased $8.5 billion to $60.7 billion for fiscal year 2020, mainly due to an increase in cash from customers, offset in part by an increase in cash used to pay income taxes, suppliers, and employees. Officer, Marriott International, Inc. Reid G. Hoffman Transforming the workplace to deliver new modern, modular business applications to improve how people communicate, collaborate, learn, work, play, and interact with one another. Women represented 25.5 percent of leadership roles, compared to … In a separate 2009 decision, the Court of Appeals for the District of Columbia held that adverse health effect claims arising from the use of cellular handsets that operate within the U.S. Federal Communications Commission radio frequency emission guidelines (âFCC Guidelinesâ) are pre-empted by federal law. The estimated fair values are based on Level 2 inputs. We are subject to income tax in many jurisdictions outside the U.S. Our operations in certain jurisdictions remain subject to examination for tax years 1996 to 2019, some of which are currently under audit by local tax authorities. PSUs generally vest over a performance period of three years. Securities held in our fixed-income portfolio are subject to different interest rate risks based on their maturities. We are also working to expand broadband access to 40 million unserved and underserved people in rural areas globally, and to 3 million people in unserved and rural communities in the US by July 2022. Changes in inventory levels in the OEM channel. Throughout my seven years in this role, there have been many dramatic changes in global politics, the world economy, science, technology and culture. The COVID-19 pandemic is having widespread, rapidly evolving, and unpredictable impacts on global society, economies, financial markets, and business practices. 2017 Annual Report 4.9 MB. The following table summarizes the payments due by fiscal year for our outstanding contractual obligations as of June 30, 2020: We will continue to invest in sales, marketing, product support infrastructure, and existing and advanced areas of technology, as well as continue making acquisitions that align with our business strategy. Land is not depreciated. Partners in this program can easily package their own products and services to directly provision, manage, and support their customer subscriptions. Financial results details plus additional information, Annual- and Interim Reports from 1997 Skip navigation Go to 2020 Go to 2019 Go to 2018 Go to 2017 Go to 2016 Go to 2015 Go to 2014 - 2010 Go to 2009 - 2005 Go to 2004 - 2000 Go to 1999 - 1997 Clayton, Dubilier & Rice, John W. Stanton 1,4 Partners license software over a three-year period and are billed monthly based on consumption. Debt in the table above is comprised of senior unsecured obligations and ranks equally with our other outstanding obligations. The number of shares the PSU holder receives is based on the extent to which the corresponding performance goals have been achieved. We license software to organizations under volume licensing agreements to allow the customer to acquire multiple licenses of products and services instead of having to acquire separate licenses through retail channels. We must also continue to foster an inclusive working environment that will enable all our employees to do their best work and serve the diverse needs of our customers around the world. We saw modest increases for both African American/Black and Hispanic/Latinx employees in leadership and tech roles, as well: We also pay close attention to leading indicators to see how we are doing at attracting new employees to come work at Microsoft. The estimates used to calculate the fair value of a reporting unit change from year to year based on operating results, market conditions, and other factors. During the periods presented, we reported our financial performance based on the following segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The pattern of delivery (i.e., timing of when revenue is recognized) for each distinct performance obligation. 118. Human Development Report 2019. The Company designs and maintains accounting and internal control systems to provide reasonable assurance at reasonable cost that assets are safeguarded against loss from unauthorized use or disposition, and that the financial records are reliable for preparing consolidated financial statements and maintaining accountability for assets. We generally have the ability to use other manufacturers if a current vendor becomes unavailable or unable to meet our requirements. Intelligent Cloud revenue increased, driven by server products and cloud services. Fiscal Year 2020 Compared with Fiscal Year 2019. Our Enterprise Services business competes with a wide range of companies that provide strategy and business planning, application development, and infrastructure services, including multinational consulting firms and small niche businesses focused on specific technologies. We continue to open new opportunities for gamers to engage both on- and off-console with both the launch of Project xCloud, our game streaming service, and continued investment in gaming hardware. We design our devices, from Surface to Xbox, to minimize their impact on the environment. And, in compliance, we provide tools to help organizations govern their data and comply with increasing regulatory requirements. Our privacy principles include a commitment to be transparent in our privacy practices, to offer meaningful privacy choices, and to responsibly manage the data we store and process. The acquisition is expected to empower developers to achieve more at every stage of the development lifecycle, accelerate enterprise use of GitHub, and bring Microsoftâs developer tools and services to new audiences. To accelerate this, we must enable a new category of developers—citizen developers—equipping domain experts with tools that are low-code or no-code to create solutions that solve their unique business needs and help them better collaborate with professional developers. We’re investing in a wide range of initiatives and programs to identify great people who can help Microsoft grow and innovate. Corporate Vice President, Finance and Administration; Adjustments in purchase price allocations may require a change in the amounts allocated to goodwill during the periods in which the adjustments are determined. 03/14/18: 2017 Annual Report : Add Files. It starts with a belief that everyone can grow and develop; that potential is nurtured, not predetermined; and that anyone can change their mindset. Our Board of Directors declared the following dividends: The dividend declared on June 17, 2020 was included in other current liabilities as of June 30, 2020. We use a single amount to estimate SSP for items that are not sold separately, including on-premises licenses sold with SA or software updates provided at no additional charge. LinkedIn revenue increased $1.5 billion or 28%, driven by growth across each line of business. And we are helping organizations attract, retain, and develop the best talent with our portfolio of Talent Solutions, Talent Insights, and Glint. Using Windows to fuel our cloud business and Microsoft 365 strategy, and to develop new categories of devices â both our own and third-party â on the intelligent edge. Project xCloud will provide players with more choice over how and where they play. The Company engaged Deloitte & Touche LLP, an independent registered public accounting firm, to audit and render an opinion on the consolidated financial statements and internal control over financial reporting in accordance with the standards of the Public Company Accounting Oversight Board (United States).
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