Revenue from sales of Windows Pro and non-Pro licenses sold through the OEM channel, Windows Commercial products and cloud Teri L. List 1,3 Becoming more diverse and inclusive in everything we do. These non-GAAP financial measures presented should not be considered a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. Had they sold their entire inventory at their current prices, how many more dollars of contribution margin would it have brought, On the income statement, which of the following would be classified as a Period cost? Windows faces competition from various software products and from alternative platforms and devices, mainly from Apple and Google. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Excluding the impact of the fiscal year 2021 change in accounting estimate for the useful lives of our server and network equipment, gross margin percentage increased 1 point driven by improvement in Productivity and Business Processes. Based in Memphis, Tennessee Most Recent Annual Report MOST RECENT 2022 Annual Report and Form 10K View PDF View Form 10K (HTML) FedEx Corporation does not currently have any hardcopy reports on AnnualReports.com. Founder and Chairman, View full document End of preview. Microsoft aims to recruit, develop, and retain world-changing talent from a diversity of backgrounds. This segment primarily comprises: Office Commercial is designed to increase personal, team, and organizational productivity through a range of products and services. As the worlds largest software company, this places us at a historic intersection of opportunity and responsibility to the world around us. Fiscal Year 2016 Annual Report. To make it easy for our readers, all the annual reports released in 2021 - 2022 will be linked on this page. The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate. Supply Chain Strategies, Structures and Relationships, Global production chains in the fast fashion sector, transports and logistics: the case of the Spanish retailer Inditex (Escalona, Ramos), Global sourcing: insights from the global clothing industrythe case of Zara, a fast fashion retailer, ZARA-INDITEX AND THE GROWTH OF FAST FASHION, Fast Fashion, Sustainability, and the Ethical Appeal of Luxury Brands, Global production chains in the fast fashion sector, transports and logistics: the case of the Spanish retailer Inditex, Fashion Industry Supply Chain Issues: Zara (Azel France/BiH), Fashion Industry Supply Chain Issues: Zara (Azel France), Fast Fashion and Globalization: Study of Florianpolis Sister Store of the Spanish Fast-Fashion Retail Chain Zara, Master's thesis " An analysis of internationalization strategies in the apparel industry: How companies create a competitive advantage in culturally different markets ", Super Responsive Supply Chain: The Case of Spanish Fast Fashion Retailer Inditex-Zara, THE IMPORTANCE OF STRATEGIC MANAGEMENT A case study of H&M. Xbox enables people to connect and share online gaming experiences that are accessible on Xbox consoles, Windows-enabled devices, and other devices. Security, compliance, identity, and management underlie our entire tech stack. Our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and any amendments to those reports, as soon as reasonably practicable after we electronically file that material with or furnish it to the Securities and Exchange Commission (SEC) at www.sec.gov. 29. We are exposed to economic risk from foreign exchange rates, interest rates, credit risk, and equity prices. In 2014, Microsoft was informed that Chinas State Agency for Market Regulation (SAMR) (formerly State Administration for Industry and Commerce) had begun a formal investigation relating to Chinas Anti-Monopoly Law, and the SAMR conducted onsite inspections of Microsoft offices in Beijing, Shanghai, Guangzhou, and Chengdu. Customers can use Azure through our global network of datacenters for computing, networking, storage, mobile and web application services, AI, IoT, cognitive services, and machine learning. Were always working to close the gap between our espoused culture and the lived experience of the more than 220,000 people who work at Microsoft. Our efforts to preserve and protect journalism in the United States and Mexico have been extended globally through new partnerships with the Thomson Reuters Foundation, Report for the World, and others. I couldnt be more excited about our expansive opportunity ahead in this space. 20 kb. (283) Notes to the consolidated annual accounts. Progress toward our zero waste commitment included diverting more than 15,200 metric tons of solid waste otherwise headed to landfills and incinerators, as well as launching new Circular Centers to increase reuse and reduce e-waste at our datacenters. The critical audit matters communicated below are matters arising from the current-period audit of the financial statements that were communicated or required to be communicated to the audit committee and that (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. Enter the email address you signed up with and we'll email you a reset link. project team structure in project management; men's work jacket shirts; organic cotton linen fabric; gel memory foam sofa mattress; 01/13 Barron's 2022 Barron's Midyear Roundtable Report Card 01/13 Barron's The Age of Free Money Is Over. It was last conducted at this . We have audited the accompanying consolidated balance sheets of Microsoft Corporation and subsidiaries (the "Company") as of June 30, 2022 and 2021, the related consolidated statements of income, comprehensive income, cash flows, andstockholders'equity, for each of the three years in the period ended June 30, 2022, and the related notes (collectively referred to as the "financial statements"). Collaborating with our customers, the force driving transformation, 5.3. Licenses for on-premises software provide the customer with a right to use the software as it exists when made available to the customer. 9 In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2022 and 2021, and the results of its operations and its cash flows for each of the three years in the period ended June 30, 2022, in conformity with accounting principles generally accepted in the United States of America. Unearned revenue comprises mainly unearned revenue related to volume licensing programs, which may include Software Assurance (SA) and cloud services. Azure enables customers to devote more resources to development and use of applications that benefit their organizations, rather than managing on-premises hardware and software. Now, let me turn to how we are positioned to capture the massive opportunities ahead. Fiscal year ending June 30. The investments we make in sustainability carry through to our products, services, and devices. Microsoft Edge is our fast and secure browser that helps protect your data, with built-in shopping tools designed to save you time and money. And, along with partner companies, we launched the Neurodiversity Career Connector, a jobs marketplace for neurodivergent job seekers. Cost of revenue is allocated in certain cases based on a relative revenue methodology. They are decisive. Mar 21, 2022 Zara, which includes the Zara Home segment, had the highest net sales of the Inditex Group worldwide in 2021, amounting to just under 20 billion euros. Search and news advertising revenue increased $2.3 billion or 25%. Against the backdrop of financial uncertainty and rising costs, we made major strategic investments towards greater affordability . We had previously increased the estimated useful lives of both server and network equipment in July 2020. Any shareholder can join the Annual Meeting, while shareholders of record as of October 12, 2022, will be able to vote and submit questions during the meeting. 2. Also included in Other are business dispositions and transfers between segments due to reorganizations, as applicable. As of June 30, 2022 and 2021, accumulated goodwill impairment was $11.3 billion. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. LinkedIn revenue increased $3.5 billion or 34% driven by a strong job market in our Talent Solutions business and advertising demand in our Marketing Solutions business. Organizations purchase perpetual licenses and SA is optional. Growth depends on our ability to reach new users in new markets such as frontline workers, small and medium businesses, and growth markets, as well as add value to our core product and service offerings to span productivity categories such as communication, collaboration, analytics, security, and compliance. The plaintiffs have filed supplemental expert evidence, portions of which the defendants have moved to strike. The segment amounts included in MD&A are presented on a basis consistent with our internal management reporting. Sector --None-- More 10,000+ Employees Based in Corua, Spain Inditex comprises of eight brands: Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterqe. Building on our work in eight US cities, were now partnering with five US states with significant broadband adoption gaps to increase access, adoption, and equity. We continue to invest in high performance and sustainable computing to meet the growing demand for fast access to Microsoft services provided by our network of cloud computing infrastructure and datacenters. We test goodwill for impairment annually on May 1 at the reporting unit level, primarily using a discounted cash flow methodology with a peer-based, risk-adjusted weighted average cost of capital. Xbox is designed to benefit users by providing access to a network of certified applications and services and to benefit our developer and partner ecosystems by providing access to a large customer base. Interest and dividends income decreased due to lower portfolio balances. The service gets you the information you need faster and also gives you the power and convenience of online proxy voting. Despite these increases, we remain dedicated to achieving a net-zero future. For multi-year agreements, we generally invoice customers annually at the beginning of each annual coverage period. If quoted prices in active markets for identical assets or liabilities are not available to determine fair value, then we use quoted prices for similar assets and liabilities or inputs other than the quoted prices that are observable either directly or indirectly. We have historically paid India withholding taxes on software sales through distributor withholding and tax audit assessments in India. Search and news advertising revenue excluding traffic acquisition costs increased 27% driven by higher revenue per search and search volume. Forward-looking statements may appear throughout this report, including the following sections: Business in our fiscal year 2022 Form 10-K and Managements Discussion and Analysis of Financial Condition and Results of Operations in our fiscal year 2022 Form 10-K. The second broad category of OEMs are system builders consisting of lower-volume PC manufacturers, which source Microsoft software for pre-installation and local redistribution primarily through the Microsoft distributor channel rather than through a direct agreement or relationship with Microsoft. The purchase price included $766 million of cash and cash equivalents acquired. This analysis requires significant judgments, including estimation of future cash flows, which is dependent on internal forecasts, estimation of the long-term rate of growth for our business, estimation of the useful life over which cash flows will occur, and determination of our weighted average cost of capital. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. The amortization of these costs is included in cost of revenue over the estimated life of the products. We have invested significantly in holistic wellbeing, and offer a differentiated benefits package which includes many physical, emotional, and financial wellness programs including counseling through the Microsoft CARES Employee Assistance Program, mental wellbeing support, flexible fitness benefits, savings and investment tools, adoption assistance, and back-up care for children and elders. Addressing climate change requires swift, collective action and technical innovation. Nine of these cases were filed in 2002 and are consolidated for certain pre-trial proceedings; the remaining cases are stayed. Managers holding conversations about employees career and development plans, coaching on career opportunities, and programs like mentoring and sponsorship. Our practice is to ship our products promptly upon receipt of purchase orders from customers; consequently, backlog is not significant. If we want to serve the world, we need to represent the world. In fiscal years 2022, 2021, and 2020, our foreign regional operating centers in Ireland and Puerto Rico, which are taxed at rates lower than the U.S. rate, generated 71%, 82%, and 86% of our foreign income before tax. (ended March 31, 2017), please refer to Toyota Industries Report. Its the only solution with meetings, calls, chat, collaboration, and business process automation in one place. Net realizable value is the estimated selling price less estimated costs of completion, disposal, and transportation. We must ensure that economic growth does not come at the expense of our planet. This global approach helps us remain competitive in local markets and enables us to continue to attract top talent from across the world. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. March 31, 2017 ), please refer to Toyota Industries Report products from! 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