Adobe 2002 Annual Report Download - page 106

Download and view the complete annual report

Please find page 106 of the 2002 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 147

  • 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
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147

75
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Years Ended
November 29,
2002
November 30,
2001
December 1,
2000
Cash flows from operating activities:
Net income ............................................................................................... $ 191,39
9
$205,64
4
$ 287,808
Adjustments to reconcile net income to net cash provided by operating
activities:
Depreciation and amortization............................................................... 63,481 56,645 43,275
Stock compensation expense ................................................................ 6,787 17,997 16,499
Deferred income taxes .......................................................................... (5,486) (17,600) 1,398
Provision for losses on receivables ....................................................... 1,527 1,435 7,140
Tax benefit from employee stock option plans..................................... 21,830 45,692 124,922
Acquired in-process research and development.................................... 410
—
—
Impairment of property, plant, and equipment and goodwill................ 13,175
—
—
Equity method (gains) losses of Adobe Ventures and cost method
investments........................................................................................ 13,122 59,873 (33,258)
Gains on sales of equity securities ........................................................ (7,194) (20,054) (12,660)
Loss on other-than-temporary declines of equity securities.................. 11,257 53,068 26,342
Gain on sale of buildings ......................................................................
—
—
(1,052)
Noncash restructuring and other charges..............................................
—
—
1,011
Changes in operating assets and liabilities:
Receivables ....................................................................................... 5,910 16,273 (88,487)
Other current assets ........................................................................... 1,856 (3,552) (5,407)
Trade and other payables................................................................... (2,277) (9,389) 4,588
Accrued expenses.............................................................................. (8,312) (61,083) 46,760
Accrued restructuring charges........................................................... (15,435) 9,573 (8,003)
Income taxes payable ........................................................................ 30,157 60,175 31,730
Deferred revenue............................................................................... 7,124 4,005 2,020
Net cash provided by operating activities.................................................... 329,331 418,702 444,626
Cash flows from investing activities:
Purchases of short-term investments........................................................ (579,154) (436,333) (443,875)
Maturities and sales of short-term investments ........................................ 487,391 456,915 305,950
Acquisitions of property and equipment .................................................. (31,578) (43,174) (29,836)
Purchases of long-term investments and other assets............................... (37,951) (35,338) (59,059)
Acquisitions, net of cash acquired............................................................ 7,345
—
(24,448)
Proceeds from sales of buildings..............................................................
—
—
5,420
Proceeds from sales of equity securities................................................... 11,684 31,505 17,788
Net cash used for investing activities .......................................................... (142,263) (26,425) (228,060)
See accompanying Notes to Consolidated Financial Statements.