Adobe 2008 Annual Report Download - page 68

Download and view the complete annual report

Please find page 68 of the 2008 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 128

  • 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

68
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
November 28,
November 30,
2008
2007
ASSETS
Current assets:
Cash and cash equivalents ........................................................ $
886,450
$
946,422
Short-term investments ..........................................................
1,132,752
1,047,432
Trade receivables, net of allowances for doubtful accounts of $4,128 and $4,398, respectively...
467,234
318,145
Deferred income taxes ...........................................................
110,713
171,472
Prepaid expenses and other assets ..................................................
137,954
89,380
Total current assets ...........................................................
2,735,103
2,572,851
Property and equipment, net ........................................................
313,037
289,758
Goodwill .......................................................................
2,134,730
2,148,102
Purchased and other intangibles, net ..................................................
214,960
367,644
Investment in lease receivable .......................................................
207,239
207,239
Other assets .....................................................................
216,529
128,085
Total assets ................................................................ $
5,821,598
$
5,713,679
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade payables ................................................................
$
55,840
$
41,724
Accrued expenses ..............................................................
399,969
408,579
Accrued restructuring ...........................................................
35,690
3,731
Income taxes payable ...........................................................
27,136
215,058
Deferred revenue ...............................................................
243,964
183,318
Total current liabilities ........................................................
762,599
852,410
Long-term liabilities:
Debt .........................................................................
350,000
—
Deferred revenue ...............................................................
31,356
25,950
Accrued restructuring ...........................................................
6,214
13,987
Income taxes payable ...........................................................
123,182
—
Deferred income taxes ...........................................................
117,328
148,943
Other liabilities ................................................................
20,565
22,407
Total liabilities ..............................................................
1,411,244
1,063,697
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value; 2,000 shares authorized; none issued ...................
—
—
Common stock, $0.0001 par value; 900,000 shares authorized; 600,834 shares issued; 526,111
and 571,409 shares outstanding, respectively .......................................
61
61
Additional paid-in-capital ........................................................
2,396,819
2,340,969
Retained earnings ..............................................................
4,913,406
4,041,592
Accumulated other comprehensive income ...........................................
57,222
27,948
Treasury stock, at cost (74,723 and 29,425 shares, respectively), net of re-issuances ...........
(2,957,154
)
(1,760,588
)
Total stockholders’ equity ......................................................
4,410,354
4,649,982
Total liabilities and stockholders’ equity ......................................... $
5,821,598
$
5,713,679
See accompanying Notes to Consolidated Financial Statements.