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18 Cisco Systems, Inc.
The following selected nancial data should be read in conjunction with the Consolidated Financial Statements and related notes which
appear on pages 43 to 78 of this Annual Report:
July 29, 2006 July 30, 2005 July 31, 2004 July 26, 2003 July 27, 2002
Net sales $ 28,484 $ 24,801 $ 22,045 $ 18,878 $ 18,915
Net income $ 5,580(1) $ 5,741 $ 4,401(2) $ 3,578 $ 1,893
Net income per share—basic $ 0.91 $ 0.88 $ 0.64 $ 0.50 $ 0.26
Net income per share—diluted $ 0.89 $ 0.87 $ 0.62 $ 0.50 $ 0.25
Shares used in per-share calculation—basic 6,158 6,487 6,840 7,124 7,301
Shares used in per-share calculation—diluted 6,272 6,612 7,057 7,223 7,447
Cash and cash equivalents and investments $ 17,814 $ 16,055 $ 19,267 $ 20,652 $ 21,456
Total assets $ 43,315 $ 33,883 $ 35,594 $ 37,107 $ 37,795
Long-term debt $ 6,332 $ — $ — $ — $ —
(1) Net income for scal 2006 included stock-based compensation expense under Statement of Financial Accounting Standards No. 123 (revised 2004), “Share-Based
Payment,” (“SFAS 123(R)”) of $836 million, net of tax, which consisted of stock-based compensation expense of $756 million, net of tax, related to employee stock options
and employee stock purchases and stock-based compensation expense of $80 million, net of tax, related to acquisitions and investments. There was no stock-based
compensation expense related to employee stock options and employee stock purchases under Statement of Financial Accounting Standards No. 123, “Accounting for
Stock-Based Compensation” (“SFAS 123”), prior to scal 2006 because the Company did not adopt the recognition provisions of SFAS 123. See Note 10 to the Consolidated
Financial Statements.
(2) Net income for scal 2004 included a noncash charge for the cumulative effect of accounting change relating to stock-based compensation expense of $567 million, net
of tax, related to the adoption of FASB Interpretation No. 46(R), “Consolidation of Variable Interest Entities” (“FIN 46(R)”). See Note 3 to the Consolidated Financial Statements.
Selected Financial Data
Five Years Ended July 29, 2006 (in millions, except per-share amounts)