Computer Associates 2012 Annual Report Download - page 48

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We can estimate the total amounts to be billed from committed contracts, referred to as our “billings backlog,” and the total amount
to be recognized as revenue from committed contracts, referred to as our “revenue backlog.” The aggregate amounts of our billings
backlog and trade and installment receivables already reflected on our Consolidated Balance Sheets represent the amounts we expect
to collect in the future from committed contracts.
MARCH 31, 2012 MARCH 31, 2011
(in millions) (in millions)
Billings backlog:
Amounts to be billed — current $ 2,220 $ 2,234
Amounts to be billed — noncurrent 2,623 2,960
Total billings backlog $ 4,843 $ 5,194
Revenue backlog:
Revenue to be recognized within the next 12 months — current $ 3,714 $ 3,724
Revenue to be recognized beyond the next 12 months — noncurrent 4,759 5,036
Total revenue backlog $ 8,473 $ 8,760
Deferred revenue (billed or collected) $ 3,630 $ 3,566
Total billings backlog 4,843 5,194
Total revenue backlog $ 8,473 $ 8,760
Note: Revenue backlog includes deferred subscription and maintenance and professional services revenue.
We can also estimate the total cash to be collected in the future from committed contracts, referred to as our “Expected future cash
collections,” by adding the total billings backlog to the current trade accounts receivable, which represent amounts already billed but
not collected, from our Consolidated Balance Sheets.
MARCH 31, 2012 MARCH 31, 2011
(in millions) (in millions)
Expected future cash collections:
Total billings backlog $ 4,843 $ 5,194
Trade accounts receivable — current, net 902 849
Total expected future cash collections $ 5,745 $ 6,043
The decrease in total revenue backlog and billings backlog from fiscal 2011 was primarily attributable to an unfavorable effect of
foreign exchange, the decrease in year-over-year bookings associated with the five-year license agreement with a large IT outsourcer
signed in the fourth quarter of fiscal 2011, and the increase in the bookings recognized as software fees and other revenue in fiscal
2012 (which would not be reflected in the total revenue backlog at fiscal year-end).
Current revenue backlog was unfavorably affected by foreign exchange. Excluding this effect, total current revenue backlog would
have increased 1% in fiscal 2012 compared with fiscal 2011.
The decrease in expected future cash collections from fiscal 2011 was primarily attributable to the decrease in billings backlog. The
decrease in total billings backlog was a result of an unfavorable effect of foreign exchange and the aforementioned decrease in total
bookings.
Unbilled amounts relating to subscription licenses are mostly collectible over a period of one-to-five years and at March 31, 2012, on
a cumulative basis, 46%, 77%, 91%, 99% and 100% come due within fiscal 2013 through 2017, respectively.
Cash Provided by Operating Activities
YEAR ENDED MARCH 31, $ CHANGE
2012 2011 2010 2012 / 2011 2011 / 2010
(in millions)
Cash collections from billings(1) $ 5,142 $ 4,774 $ 4,653 $ 368 $ 121
Vendor disbursements and payroll(1) (3,235) (3,075) (2,896) (160) (179)
Income tax payments (420) (222) (329) (198) 107
Other disbursements, net(2) 18 (100) (92) 118 (8)
Cash provided by operating activities $ 1,505 $ 1,377 $ 1,336 $ 128 $ 41
(1) Amounts include value added taxes and sales taxes.
(2) Amounts include interest, restructuring and miscellaneous receipts and disbursements.
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