Adobe 1999 Annual Report Download - page 82

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ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(In thousands, except share and per share data)
(Continued)
81
NOTE 16. INDUSTRY SEGMENT AND GEOGRAPHIC INFORMATION (Continued)
Long-lived assets:
Years Ended
December 3 November 27 November 28
1999 1998 1997
Americas:
United States ....................... $53,890 $67,946 $67,661
Other ............................ — — 1,607
Total Americas .................... 53,890 67,946 69,268
Europe ............................. 8,706 20,685 8,228
Asia ............................... 6,542 5,256 3,483
$69,138 $93,887 $80,979
In fiscal 1999, sales of application products to Ingram Micro, Inc. (‘‘Ingram’’) accounted for 27.4% of
the Company’s total revenue. Receivables from Tech Data Corporation accounted for 11.3% of total
receivables at December 3, 1999. In fiscal 1998, sales of application products to Ingram accounted for
13.5% of the Company’s total revenue, and receivables from Ingram at year end accounted for 14.4% of
total receivables. No customer accounted for more than 10% of the Company’s total revenue and total
receivables in fiscal 1997.
NOTE 17. SUBSEQUENT EVENTS
In December 1999, the Company’s Board of Directors approved an increase of 300.0 million shares of
common stock authorized for issuance by the Company, from 200.0 million to an aggregate of 500.0 million
shares of common stock, subject to stockholder approval.
In December 1999, the Company sold its corporate headquarters facility in Edinburgh, Scotland in
connection with the restructuring program implemented during the second and third quarters of fiscal
1999. (For detailed information of the restructuring program, see Note 7.) Net cash proceeds from the sale
of the land and building were approximately $5.4 million, and the gain recognized upon the sale totaled
approximately $1.0 million.