Microsoft 2015 Annual Report Download - page 6

Download and view the complete annual report

Please find page 6 of the 2015 Microsoft 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 89

  • 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

5
SELECTED FINANCIAL DATA, QUARTERLY STOCK PRICE INFORMATION,
ISSUER PURCHASES OF EQUITY SECURITIES, DIVIDENDS, AND STOCK PERFORMANCE
FINANCIAL HIGHLIGHTS
(In millions, except per share data)
Y
ear Ended June 30, 2015 2014
(b)
2013 2012 2011
Revenue $ 93,580 $86,833 $77,849 $ 73,723 $69,943
Gross margin $ 60,542 $59,755 $57,464 $ 56,193 $54,366
Operating income $ 18,161 (a) $27,759 $26,764 (c) $ 21,763
(d) $ 27,161
Net income $ 12,193 (a) $22,074 $21,863 (c) $ 16,978
(d) $ 23,150
Diluted earnings per share $ 1.48 (a) $2.63 $2.58 (c) $ 2.00
(d) $ 2.69
Cash dividends declared per share $ 1.24 $1.12 $0.92 $ 0.80 $0.64
Cash, cash equivalents, and short-
term investments $ 96,526 $85,709 $77,022 $ 63,040 $52,772
Total assets $ 176,223 $ 172,384 $ 142,431 $ 121,271 $ 108,704
Long-term obligations $ 46,282 $36,975 $26,070 $ 22,220 $22,847
Stockholders’ equity $ 80,083 $89,784 $78,944 $ 66,363 $57,083
(a) Includes $7.5 billion of goodwill and asset impairment charges related to Phone Hardware, and $2.5 billion of
integration and restructuring expenses, primarily costs associated with our restructuring plans, which decreased
fiscal year 2015 operating income and net income by $10.0 billion and diluted earnings per share (“EPS”) by
$1.15.
(b) On April 25, 2014, we acquired substantially all of NDS. NDS has been included in our consolidated results of
operations starting on the acquisition date.
(c) Includes a charge related to a fine imposed by the European Commission in March 2013 which decreased
operating income and net income by $733 million (€561 million) and diluted EPS by $0.09. Also includes a
charge for Surface RT inventory adjustments recorded in the fourth quarter of fiscal year 2013, which
decreased operating income by $900 million, net income by $596 million, and diluted EPS by $0.07.
(d) Includes a goodwill impairment charge related to our previous Online Services Division business segment
(related to Devices and Consumer Other under our current segment structure) which decreased operating
income and net income by $6.2 billion and diluted EPS by $0.73.
QUARTERLY STOCK PRICE
Our common stock is traded on the NASDAQ Stock Market under the symbol MSFT. On July 27, 2015, there were
109,479 registered holders of record of our common stock. The high and low common stock sales prices per share
were as follows:
Quarter Ended September 30 December 31 March 31
June 30 Fiscal Year
Fiscal Year 2015
High $ 47.57 $ 50.05 $ 47.91 $ 49.54 $ 50.05
Low $ 41.05 $ 42.10 $ 40.23 $ 40.12 $ 40.12
Fiscal Year 2014
High $ 36.43 $ 38.98 $ 41.50 $ 42.29 $ 42.29
Low $ 30.84 $ 32.80 $ 34.63 $ 38.51 $ 30.84
SHARE REPURCHASES AND DIVIDENDS
Share Repurchases
On September 16, 2013, our Board of Directors approved a share repurchase program authorizing up to $40.0 billion
in share repurchases. The share repurchase program became effective on October 1, 2013, has no expiration date,
and may be suspended or discontinued at any time without notice. This share repurchase program replaced the
share repurchase program that was announced on September 22, 2008 and expired on September 30, 2013. As of
June 30, 2015, $21.9 billion remained of our $40.0 billion share repurchase program. All repurchases were made
using cash resources.