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Item 6. Selected Financial Data
Five Years Ended July 25, 2015 (in millions, except per-share amounts)
Years Ended July 25, 2015 (3) July 26, 2014 (1) (3) July 27, 2013 (2) (3) July 28, 2012 (3) July 30, 2011 (3)
Revenue ......................................... $ 49,161 $ 47,142 $ 48,607 $ 46,061 $ 43,218
Net income ....................................... $ 8,981 $ 7,853 $ 9,983 $ 8,041 $ 6,490
Net income per share—basic ..................... $ 1.76 $ 1.50 $ 1.87 $ 1.50 $ 1.17
Net income per share—diluted ................... $ 1.75 $ 1.49 $ 1.86 $ 1.49 $ 1.17
Shares used in per-share calculation—basic ...... 5,104 5,234 5,329 5,370 5,529
Shares used in per-share calculation—diluted ..... 5,146 5,281 5,380 5,404 5,563
Cash dividends declared per common share ....... $ 0.80 $ 0.72 $ 0.62 $ 0.28 $ 0.12
Net cash provided by operating activities ......... $ 12,552 $ 12,332 $ 12,894 $ 11,491 $ 10,079
July 25, 2015 July 26, 2014 July 27, 2013 July 28, 2012 July 30, 2011
Cash and cash equivalents and investments ....... $ 60,416 $ 52,074 $ 50,610 $ 48,716 $ 44,585
Total assets ...................................... $ 113,481 $ 105,070 $ 101,138 $ 91,697 $ 87,026
Debt ............................................. $ 25,354 $ 20,845 $ 16,158 $ 16,266 $ 16,753
Deferred revenue ................................. $ 15,183 $ 14,142 $ 13,423 $ 12,880 $ 12,207
(1) In the second quarter of fiscal 2014, Cisco recorded a pre-tax charge of $655 million to product cost of sales, which
corresponds to $526 million, net of tax, for the expected remediation cost for certain products sold in prior fiscal years
containing memory components manufactured by a single supplier between 2005 and 2010. See Note 12(f) to the
Consolidated Financial Statements.
(2) In the second quarter of fiscal 2013, the Internal Revenue Service (IRS) and Cisco settled all outstanding items related to its
federal income tax returns for fiscal 2002 through fiscal 2007. As a result of the settlement, Cisco recorded a net tax benefit
of $794 million. Also during the second quarter of fiscal 2013, the American Taxpayer Relief Act of 2012 reinstated the
U.S. federal R&D tax credit, retroactive to January 1, 2012. As a result of the credit, Cisco recognized tax benefits of
$184 million in fiscal 2013, of which $72 million related to fiscal 2012 R&D expenses.
(3) Net income for the year ended July 30, 2011 included restructuring and other charges of $694 million, net of tax. Cisco also
incurred restructuring charges in fiscal 2012 through fiscal 2015. See Note 5 to the Consolidated Financial Statements.
No other factors materially affected the comparability of the information presented above.
In the fourth quarter of fiscal 2015, Cisco adopted Accounting Standards Update 2015-03 regarding simplifying the presentation
of debt issuance costs. Cisco applied this update retrospectively to all periods presented in accordance with the provisions of the
update.
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