Adobe 1999 Annual Report Download - page 47

Download and view the complete annual report

Please find page 47 of the 1999 Adobe 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 90

  • 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

ADOBE SYSTEMS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
December 3 November 27
1999 1998
ASSETS
Current assets:
Cash and cash equivalents ..................................... $171,145 $ 110,871
Short-term investments ....................................... 327,571 161,676
Receivables, net of allowances for doubtful accounts of $5,170 and $6,399,
respectively .............................................. 78,766 141,180
Deferred income taxes ....................................... 36,185 32,028
Other current assets ......................................... 9,348 10,190
Total current assets ........................................ 623,015 455,945
Property and equipment, net .................................... 69,138 93,887
Deferred income taxes ......................................... — 16,647
Other assets ................................................ 111,706 200,852
$ 803,859 $ 767,331
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade and other payables ..................................... $ 35,692 $ 48,681
Accrued expenses ........................................... 150,902 117,539
Accrued restructuring charges .................................. 8,675 8,867
Income taxes payable ........................................ 56,684 64,546
Deferred revenue ........................................... 15,676 11,333
Total current liabilities ...................................... 267,629 250,966
Deferred income taxes ......................................... 24,021 —
Stockholders’ equity:
Preferred stock, $0.0001 par value;
2,000 shares authorized; none issued — —
Common stock, $0.0001 par value;
Authorized: 200,000 shares;
Issued: 147,882 shares in 1999 and 1998; and additional paid-in capital . . 369,057 306,859
Retained earnings .......................................... 896,239 732,730
Accumulated other comprehensive income ......................... 40,332 (1,879)
Treasury stock, at cost (29,343 and 26,100 shares in 1999 and 1998,
respectively), net of reissuances ............................... (793,419) (521,345)
Total stockholders’ equity ................................... 512,209 516,365
$ 803,859 $ 767,331
See accompanying Notes to Consolidated Financial Statements.
46