Cisco 2014 Annual Report Download - page 129

Download and view the complete annual report

Please find page 129 of the 2014 Cisco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

(c) Additional Segment Information
The majority of the Company’s assets, excluding cash and cash equivalents and investments, as of July 26, 2014 and July 27,
2013 were attributable to its U.S. operations. The Company’s total cash and cash equivalents and investments held by various
foreign subsidiaries were $47.4 billion and $40.4 billion as of July 26, 2014 and July 27, 2013, respectively, and the remaining
$4.7 billion and $10.2 billion at the respective fiscal year ends were available in the United States. In fiscal 2014, 2013, and
2012, no single customer accounted for 10% or more of the Company’s revenue.
Property and equipment information is based on the physical location of the assets. The following table presents property and
equipment information for geographic areas (in millions):
July 26, 2014 July 27, 2013 July 28, 2012
Property and equipment, net:
United States .................................... $2,697 $2,780 $2,842
International .................................... 555 542 560
Total ...................................... $3,252 $3,322 $3,402
18. Net Income per Share
The following table presents the calculation of basic and diluted net income per share (in millions, except per-share amounts):
Years Ended July 26, 2014 July 27, 2013 July 28, 2012
Net income ......................................... $7,853 $9,983 $8,041
Weighted-average shares—basic ........................ 5,234 5,329 5,370
Effect of dilutive potential common shares ................ 47 51 34
Weighted-average shares—diluted ...................... 5,281 5,380 5,404
Net income per share—basic ........................... $ 1.50 $ 1.87 $ 1.50
Net income per share—diluted .......................... $ 1.49 $ 1.86 $ 1.49
Antidilutive employee share-based awards, excluded ........ 254 407 591
Employee equity share options, unvested shares, and similar equity instruments granted by the Company are treated as
potential common shares outstanding in computing diluted earnings per share. Diluted shares outstanding include the dilutive
effect of in-the-money options, unvested restricted stock, and restricted stock units. The dilutive effect of such equity awards is
calculated based on the average share price for each fiscal period using the treasury stock method. Under the treasury stock
method, the amount the employee must pay for exercising stock options, the amount of compensation cost for future service
that the Company has not yet recognized, and the amount of tax benefits that would be recorded in additional paid-in capital
when the award becomes deductible are collectively assumed to be used to repurchase shares.
121