Our short-term investments are primarily intended to facilitate liquidity and capital preservation. In the Gaming segment, Microsoft's Xbox shares a 20-year rivalry with Sony's PlayStation. Total capitalized costs to obtain a contract were immaterial during the periods presented and are included in other current and long-term assets in our consolidated balance sheets. $ 17,897. Sempra Energy's (SRE Quick Quote SRE - Free Report) fourth-quarter 2022 adjusted earnings per share (EPS) came in at $2.35, which beat the Zacks Consensus Estimate of $2.06 by 14.1%. The company brought in $51.9 billion in revenue, which is an increase of 12%. We see more emerging use cases and needs for compute and security at the edge and are accelerating our innovation across the spectrum of intelligent edge devices, from IoT sensors to gateway devices and edge hardware to build, manage, and secure edge workloads. We saw improvement in customer advertising spend and savings in operating expenses related to COVID-19, but experienced weakness in transactional licensing. Although we were not a party to the appeals, our software sales in India were determined to be not subject to withholding taxes. 35.40%. Cost includes materials, labor, and manufacturing overhead related to the purchase and production of inventories. The Microsoft Cloud is the most comprehensive and trusted cloud, providing the best integration across the technology stack while offering openness, improving time to value, reducing costs, and increasing agility. Gross margin percentage increased with the change in estimated useful lives of our server and network equipment. The segment made $ 46. . The COVID-19 pandemic may continue to impact our business operations and financial operating results, and there is uncertainty in the nature and degree of its continued effects over time. We also invested $20 million in key non-profit partnerships through Microsoft Philanthropies to help people from underserved communities that are often excluded by the digital economy. Under the Open agreements, organizations purchase perpetual licenses and SA is optional. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We describe risks and uncertainties that could cause actual results and events to differ materially in Risk Factors, Managements Discussion and Analysis of Financial Condition and Results of Operations, and Quantitative and Qualitative Disclosures about Market Risk in our fiscal year 2021 Form 10-K. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation. These estimates and assumptions are affected by managements application of accounting policies, as well as uncertainty in the current economic environment due to COVID-19. Our search business competes with Google and a wide array of websites, social platforms like Facebook, and portals that provide content and online offerings to end users. The provision for income taxes for fiscal years 2021, 2020, and 2019 included interest expense related to uncertain tax positions of $274 million, $579 million, and $515 million, respectively, net of income tax benefits. Search advertising revenue increased $788 million or 10%. Intelligent cloud. Our strategy requires continued investment in datacenters and other hybrid and edge infrastructure to support our services. All deferred income taxes are classified as long-term in our consolidated balance sheets. We believe potential can be nurtured and is not pre-determined, and we should always be learning and curious trying new things without fear of failure. In the same way that Office revolutionized productivity for knowledge workers, Power Platformwhich has over 16 million monthly usersis transforming application development so that anyone can automate workflows, create apps, build virtual agents, and analyze data. Our server products are designed to make IT professionals, developers, and their systems more productive and efficient. It is possible that the information we post on social media could be deemed to be material to investors. By bringing the operating system to the cloud, were enabling organizations to stream the full Windows experience to their employees personal or corporate device with just a few clicks. Internal control over financial reporting includes maintaining records that in reasonable detail accurately and fairly reflect our transactions; providing reasonable assurance that transactions are recorded as necessary for preparation of our consolidated financial statements; providing reasonable assurance that receipts and expenditures of company assets are made in accordance with management authorization; and providing reasonable assurance that unauthorized acquisition, use, or disposition of company assets that could have a material effect on our consolidated financial statements would be prevented or detected on a timely basis. Research and development expenses include payroll, employee benefits, stock-based compensation expense, and other headcount-related expenses associated with product development. Therefore, we recorded a net income tax benefit of $620 million in the third quarter of fiscal year 2021 to reflect the results of the India Supreme Court decision impacting fiscal year 1996 through fiscal year 2016. We have determined that technological feasibility for our software products is reached after all high-risk development issues have been resolved through coding and testing. As of June 30, 2021, we employed approximately 181,000 people on a full-time basis, 103,000 in the U.S. and 78,000 internationally. Our devices are primarily manufactured by third-party contract manufacturers. Total. Internal control over financial reporting is a process to provide reasonable assurance regarding the reliability of our financial reporting for external purposes in accordance with accounting principles generally accepted in the United States of America. Register in seconds and access exclusive features. Employees purchased the following shares during the periods presented: As of June 30, 2021, 88 million shares of our common stock were reserved for future issuance through the ESPP. This segment primarily comprises: Azure is a comprehensive set of cloud services that offer developers, IT professionals, and enterprises freedom to build, deploy, and manage applications on any platform or device. In Q3 FY2022, its segment revenue . Any shareholder can join the Annual Meeting, while shareholders of record as of September 30, 2021, will be able to vote and submit questions during the meeting. Revenue is recognized net of allowances for returns and any taxes collected from customers, which are subsequently remitted to governmental authorities. Beyond our products, our operational security posture and threat intelligence help customers defend themselves. Chief Financial Officer, Gap, Inc. John W. Stanton 1,4 Certain of our employees are subject to collective bargaining agreements. Refer to Risk Factors in our fiscal year 2021 Form 10-K for a discussion of these factors and other risks. Our growth mindset culture begins with valuing learning over knowing seeking out new ideas, driving innovation, embracing challenges, learning from failure, and improving over time. We think of diversity and inclusion as core to our business model, informing our actions to impact economies and people around the world. Microsoft just announced its results for FY22 Q4, which ended on June 30, 2022. Interest rate risks related to certain fixed-rate debt are hedged using interest rate swaps that are designated as fair value hedging instruments to effectively convert the fixed interest rates to floating interest rates. Show publisher information This year, we expanded our hybrid capabilities to enable organizations to build, manage, and deploy applications anywhere. We took a wide variety of measures to protect the health and well-being of our employees, suppliers, and customers during the COVID-19 pandemic. In fiscal years 2019, our foreign regional operating centers in Ireland, Singapore, and Puerto Rico, which are taxed at rates lower than the U.S. rate, generated 82% of our foreign income before tax, respectively. From LinkedIn profiles within Office, to LinkedIn Learning courses within Microsoft Viva, and LinkedIn Sales Navigator leads within Dynamics 365, we continue to bring the power of LinkedIn and Microsoft together to transform how people learn, sell, and connect. Adjusted EBITDA is projected between $380 million and $415 million, down from $453.5 million reported last year. Use Ask Statista Research Service, On April 25, 2014, Microsoft completed the transaction to acquire substantially all of Nokia Corporations Devices and Services Business (NDS). Chairman and Chief Executive Officer, Amy E. Hood This includes the server platform, database, business intelligence, storage, management and operations, virtualization, service-oriented architecture platform, security, and identity software. The components of intangible assets acquired during the periods presented were as follows: Intangible assets amortization expense was $1.6 billion, $1.6 billion, and $1.9 billion for fiscal years 2021, 2020, and 2019, respectively. Pricing changes and promotions, pricing variation that occurs when the mix of devices manufactured shifts from local and regional system builders to large multinational OEMs, and different pricing of Windows versions licensed. Refer to Note 1 Accounting Policies of the Notes to Financial Statements for further discussion. Microsoft MSFT is set to report second-quarter fiscal 2022 results on Jan 25. We evaluated the reasonableness of managements estimate of stand-alone selling prices for products and services that are not sold separately. The devices and form factors customers prefer evolve rapidly, and influence how users access services in the cloud, and in some cases, the users choice of which suite of cloud-based services to use. Celanese Corporation CE reported earnings from continuing operations of $7.03 per share in the fourth quarter of 2022, up 46% from . Operating expenses increased $1.9 billion or 12% driven by investments in Azure. Securities held in our equity investments portfolio are subject to market price risk. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Office Consumer is designed to increase personal productivity through a range of products and services. Revenue increased $25.1 billion or 18% driven by growth across each of our segments. We undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise. LVMH is a luxury group owned by the Arnault family, which generated over 79 billion in revenue ($83 billion) in revenue in 2022, with a luxury empire that spans many segments. Darling Ingredients (DAR) reported $1.77 billion in revenue for the quarter ended December 2022, representing a year-over-year increase of 35%. We are also at the forefront of the enterprise metaverse, a new infrastructure layer made possible through the convergence of the digital and physical worlds. Our intangible assets are subject to amortization and are amortized using the straight-line method over their estimated period of benefit, ranging from one to 20 years. GlaxoSmithKline, Hugh F. Johnston 1 We offer organizations the ability to ensure their data is being used only for their benefit. You need a Statista Account for unlimited access. The regional center in Ireland supports the European, Middle Eastern, and African region; the center in Singapore supports the Japan, India, Greater China, and Asia-Pacific region; and the centers in Fargo, North Dakota, Fort Lauderdale, Florida, Puerto Rico, Redmond, Washington, and Reno, Nevada support Latin America and North America. Office Consumer products and cloud services revenue increased 10% and Microsoft 365 Consumer subscribers increased to 51.9 million. 17,465. During fiscal year 2020, we recorded an impairment charge of $161 million to operating lease right-of-use assets due to the closing of our Microsoft Store physical locations. IMPORTANT NOTICE TO USERS (summary only, click here for full text of notice); All information is unaudited unless otherwise noted or accompanied by an audit opinion and is subject to the more comprehensive information contained in our SEC reports and filings. Certain forecasted transactions, assets, and liabilities are exposed to foreign currency risk. Organizational tools such as Collections, Vertical Tabs, and Immersive Reader help you make the most of your time while browsing, streaming, searching, sharing, and more. We have served as the Companys auditor since 1983. This segment primarily comprises: Office Commercial is designed to increase personal, team, and organizational productivity through a range of products and services. The segments enable the alignment of strategies and objectives across the development, sales, marketing, and services organizations, and they provide a framework for timely and rational allocation of resources within businesses. The major classes of assets and liabilities to which we allocated the purchase price were as follows: The goodwill recognized in connection with the acquisition is primarily attributable to anticipated synergies from future growth and is not expected to be deductible for tax purposes. us-gaap:OperatingIncomeLoss. We expect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, material capital expenditures, and the transition tax related to the TCJA, for at least the next 12 months and thereafter for the foreseeable future. We consider all highly liquid interest-earning investments with a maturity of three months or less at the date of purchase to be cash equivalents. In instances where SSP is not directly observable, such as when we do not sell the product or service separately, we determine the SSP using information that may include market conditions and other observable inputs. For example, through LinkedIns new Skills Path pilot, were providing tools to help businesses source job candidates in a more equitable waybased on their proven proficiencies. These events or circumstances could include a significant change in the business climate, legal factors, operating performance indicators, competition, or sale or disposition of a significant portion of a reporting unit. Search Search Microsoft.com. Gross margin increased $18.9 billion or 20% driven by growth across each of our segments and the change in estimated useful lives of our server and network equipment. Net realizable value is the estimated selling price less estimated costs of completion, disposal, and transportation. A companys internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements. Just announced its results for FY22 Q4, which are subsequently remitted to authorities... John W. 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