microsoft annual report 2014

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distributors include Ingram Micro and Tech Data, and some of our largest resellers include CDW, Dell, Insight Enterprises, and Software House International. The revenue was recognized upon expiration of the offer. Cash paid for interest on our debt for fiscal years 2014, 2013, and 2012 was $509 million, $371 million, and $344 million, respectively. Windows 7 revenue was subject to deferral as a result of the Windows Upgrade Offer, which started June 2, 2012. Both motions are pending. This new share repurchase program replaced the share repurchase program that was announced on September 22, 2008 and expired on September 30, It may take longer than expected to realize the full benefits from these transactions, such as increased In the same way that we aspired to and achieved our original vision of a PC on every desk and in every home, we will reinvent productivity. Microsoft Azure is a scalable operating system with computing, storage, database, and management, along with comprehensive cloud solutions, from In counterclaims, Microsoft asserts 14 patents are infringed by Motorola Android devices and certain Motorola digital video recorders. Operating income increased $995 million or 4%, reflecting higher gross Our industry is dynamic and highly competitive, with frequent changes in both technologies and business models. Significant internal accounting policies that differ from U.S. GAAP relate to revenue recognition, income statement classification, and depreciation. In May 2012, the court issued an injunction relating to all H.264 capable Microsoft products in Germany, which Microsoft appealed. We do not believe it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the next 12 months because we do not believe the remaining open issues will be resolved within the next 12 months. Our D&C segments are made up of D&C Licensing, Computing and Gaming Hardware, Phone Hardware, and D&C Other. Capitalized research and development costs are amortized over the estimated lives of the products. Variations in the actual outcome of these future tax consequences could materially impact our consolidated financial statements. After a mini-trial on standing issues, the case is now moving forward with discovery, and a trial is set for September 2015. From 2011 to 2013, Mr. Nadella served as President, Server and Tools. that want to acquire licenses to Online Services and/or software products, along with software assurance, for all or substantial parts of their enterprise. Hardware gross margin decreased $1.5 billion or 62%, due to a $1.3 billion or 30% increase in cost of revenue and decreased revenue. Our competitors are developing new software and The principal products and services provided by the Commercial Other segment are: Enterprise Services, including Premier product support services and Microsoft Consulting Services; Commercial Cloud, comprising Office 365 Commercial, other Microsoft Office online offerings, Dynamics CRM Online, and Microsoft Azure. We have audited the accompanying consolidated balance sheets of Microsoft The major classes of assets to which we allocated the purchase price were goodwill of $937 million and identifiable intangible assets of $178 million. Surface revenue increased $1.3 billion or 157%, due mainly to a higher number of devices and accessories sold. further appealed), and the other two appeals are pending. We have a savings plan in the U.S. that qualifies under Section 401(k) of the Internal Revenue Code, and a number of savings plans in international locations. revenue. Windows Embedded extends the power of Windows and the cloud to intelligent systems, including the Internet of Things, by delivering specialized As of June 30, 2013, the total notional amounts of commodity contracts purchased and sold were $1.2 billion and $249 million, respectively. We are being substituted for Nokia in these to comply with government rulings, which may entail a delay in a product release and removing functionality that customers want or on which developers rely. We monitor our foreign currency exposures daily to maximize the economic effectiveness of our foreign currency hedge positions. For fiscal years 2014, 2013, and 2012, the pool was 0.44%, 0.35%, and 0.30% of operating income, respectively. diluted earnings per share by $0.07. Following are details of net recognized gains (losses) on investments during the periods reported: Other-than-temporary impairments of investments, Realized gains from sales of available-for-sale securities, Realized losses from sales of available-for-sale securities. The The components of our long-term debt and the associated interest rates were as follows as of June 30, 2014 and 2013: The notes in this table are senior unsecured obligations and rank equally with our other senior unsecured debt outstanding. Our software products also may experience quality or reliability problems. InterDigital Technology Corporation and InterDigital by increased sales of Microsoft SQL Server. THE LEGO GROUP – ANNUAL REPORT 2014 5 MANAGEMENT’S REVIEW 2014 was a year of strong growth for the LEGO Group. Xbox Live transactions consist of online entertainment content, such as games, music, movies, and TV shows, accessible on Xbox consoles and other devices. Unrealized losses from fixed-income securities are primarily attributable to changes in interest rates. Our average and maximum securities lending payable balances for the fiscal year were $619 million and $1.3 billion, respectively. They decide what solutions will make employees more productive, collaborative, and satisfied, or connect with Windows OEM revenue declined $136 million or 1%, due to continued softness in the consumer PC market, offset in part by a 12% increase in OEM Pro revenue. repurchases of capital stock, acquisitions, and repayment of existing debt. Revenue recognition for multiple-element arrangements requires judgment to determine if multiple Box 2362  units based on the reporting unit expected to benefit from the business combination. We market and distribute our products and services primarily through the following channels: OEMs; distributors and resellers; online; and Microsoft retail stores. As of June 30, 2014, the total notional amounts of equity contracts purchased and sold for managing market price risk were $3.1 billion and $2.1 billion, for as separate units of accounting, and if so, the fair value for each of the elements. We also continue to be subject to examination by the I.R.S. The resolutions of these audits are not expected to be material to our consolidated financial statements. During fiscal years 2013 and 2012, the following activity occurred under our stock plans: Total vest-date fair value of stock awards vested was $3.2 billion, $2.8 billion, and $2.4 billion, for fiscal years 2014, 2013, and 2012, respectively. CORPORATE GOVERNANCE. In determining whether a loss should be accrued we evaluate, among other factors, the degree of probability of an unfavorable outcome and the ability to make a reasonable estimate of the amount of loss. The deferred income taxes are classified as current or long-term based on the classification of the related asset or liability. Additionally, these laws and governments' approach to their enforcement, and our products and services, are continuing to All notional amounts presented below are measured in U.S. dollar equivalents. We will offer our services across ecosystems and devices outside our own. conditions vary depending upon the product sold and the country in which we do business, but generally include parts and labor over a period generally ranging from 90 days to three years. Unrealized losses from domestic and international equities are due to market price movements. We test goodwill for impairment annually on May 1 at the reporting in the prior year, offset in part by a 25% reduction in display advertising revenue. with virtually all of the multinational OEMs, including Acer, ASUS, Dell, Fujitsu, HTC, Hewlett-Packard, LG, Lenovo, Samsung, Sony, Toshiba, and with many regional and local OEMs. In September 2013, defendants in the consolidated cases moved to exclude plaintiffs' expert evidence of general causation on the basis of flawed scientific methodologies. The principal products and services provided by the D&C Other segment are: Resale, including the Windows Store, Xbox Live transactions, and the Windows Phone Store; search advertising; display advertising; Office 365 Consumer, comprising Office 365 Home and Office 365 Personal; Studios, comprising first-party video games; and our retail stores. development activities at the business segment level. We measure stock-based compensation cost at the grant date based on the fair value of the award and recognize it as expense, net of estimated forfeitures, over the vesting or service period, as applicable, of the Platform"); Surface devices and accessories; and Microsoft PC accessories. on our tax expense and cash flows. withdrew its 2011 Revenue Agents Report and reopened the audit phase of the examination. Cash, cash equivalents, and short-term investments totaled $85.7 billion as of June 30, 2014, compared with $77.0 billion as of June 30, 2013. Enterprise Services, including Premier product support services and Microsoft Consulting Services assist customers in developing, deploying, and managing Microsoft server and desktop solutions and provide training and certification to developers and information technology professionals on various Microsoft products. For derivative instruments designated as fair value hedges, the gains (losses) are recognized in earnings in the periods of change together with Costs incurred internally in researching and developing a A growing part of our business involves cloud-based services available across the spectrum of computing The total value of vouchers we ultimately issue will depend on the number of class members who make claims and are issued vouchers. In February 2012, the I.R.S. liabilities for all of our legal matters that were contingencies as of that date. In February 2012, The contractual relationship with Nokia related to those initiatives terminated in conjunction with the acquisition. Additional information on our operating segments and geographic and product information is contained in Note 21 – Segment Information and fiscal year 2012. The tax benefits recognized in the financial statements from such a position are measured based on the 2014 Highlights Continued Information and Referral 11,103 individuals were provided information on community resources, risk assessment and crisis intervention. From time to time, to hedge our price risk, we may use and designate equity These firms do not bear the full costs of research and development for the software. significantly by the number of Windows operating system licenses purchased by OEMs, which they pre-install on the devices they sell. The estimated fair value of this commercial paper approximates its carrying value. information we post on the social media channels listed on our Investor Relations website. We also plan to launch Skype Translator this fiscal year, which has the potential to dramatically break down language barriers in our communications. under audit for those years. internal control over financial reporting based on the framework in Internal Control – Integrated Framework (2013)  issued by the Committee of Sponsoring Organizations of the Treadway Commission. The components of our long-term debt and the associated interest rates were as follows as of We issued debt to take advantage of favorable pricing and liquidity in the debt markets, Integration and restructuring expenses were $127 million for fiscal year 2014, reflecting expenses associated with the acquisition and integration of NDS. Windows PCs where Internet Explorer is the default browser (the "EU fine"). In our opinion, such consolidated financial statements present fairly, in all material respects, the financial position of Microsoft Corporation and subsidiaries as of June 30, 2014 and 2013, and the results of their operations and their cash flows for each of the three years in the period ended June 30, 2014, in conformity with Three billion people will soon be connected to Internet-enabled devices; 212 billion sensors will come online in a few short years; trillions will be spent in consumer and business technologies. A portion of amortization and depreciation is charged to the respective segment. Although we cannot predict whether or in what form any proposed legislation may pass, if enacted it could have a material adverse impact Enterprise Services revenue grew $434 million or 11%, due to growth in both Premier product support and consulting services. (a) Of the 175 million shares repurchased in fiscal year 2014, 128 million shares were repurchased for. Applying machine learning to make technology more intuitive and able to act on our behalf, instead of at our command. See Note 9 – Business Combinations of the Notes to Financial Statements for additional details. The components of other income (expense) were as follows: Net losses on foreign currency remeasurements. these events are also available; press releases on quarterly earnings, product and service announcements, legal developments, and international news; corporate governance information including our articles of incorporation, bylaws, governance guidelines, committee charters, codes of conduct and ethics, Upon closing of the acquisition, Nokia repurchased these notes at their principal amount plus accrued interest. During fiscal years 2014, 2013, and 2012, research and development expense was $11.4 billion, $10.4 billion, and $9.8 billion, respectively. Microsoft Dynamics CRM’s online offerings primarily compete with Salesforce.com’s on-demand CRM offerings. Any holder of a proxy from a shareholder must present the proxy card, properly executed, and a copy of the proof of ownership. 2012. sophisticated software products we develop may contain bugs and other defects that interfere with their intended operation. The most significant cases against Nokia are pending in Germany and Austria, due to both high volume of sales and high levy amounts sought in these countries. Any change in the goodwill amounts resulting from foreign currency translations are presented as In addition, in fiscal years 2013 and 2012, we recognized a reduction of 18% and 21%, respectively, to the effective tax rate due to foreign earnings taxed at lower rates. effective for us beginning July 1, 2017 and early adoption is not permitted. Our web application platform software competes time-consuming. million higher intellectual property licensing costs. Certain options and forwards not designated as hedging instruments are also used to manage the variability in exchange rates on accounts receivable, cash, and intercompany positions, and to manage other foreign currency exposures. During the first quarter of fiscal year 2014, we changed our organizational structure as part of our transformation to a devices and services company. shipped or made available. Several risk factors are not captured in the model, including liquidity risk, operational risk, and legal risk. We report the financial performance of the acquired business in our new Phone Hardware segment. registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  x. There are several distinct areas of technology that we aim to drive forward. Research and development expenses increased, reflecting a $460 million or 6% increase in headcount-related expenses, largely related to the Xbox The We work actively in the U.S. and These controls include model validation, review of key model inputs, analysis of period-over-period fluctuations, and independent recalculation of prices where appropriate. OEMs also sell hardware pre-installed with other Microsoft products, including server and embedded operating systems and applications such as our Microsoft Office suite. As discussed above, we do not allocate operating expenses below cost of revenue to our segments. the I.R.S. goodwill was identified as of May 1, 2014 or May 2013. Substantially all changes from the prior quarter in these accruals and estimates are attributable to matters involving Nokia that we assumed as a result of the NDS acquisition. We may be required to make available licenses to our proprietary technologies on terms that do not reflect their fair market value or do not protect our The components of intangible assets acquired during the periods presented were as follows: The table above includes $4.5 billion related to the acquisition of NDS during fiscal year 2014. Portal, and Advertising. The decrease in our effective tax rate for fiscal year 2013 was primarily offset by a 1% increase related to the EU fine, which is not tax deductible. can further transform the industry and our business. The competitive position of Linux has also benefited from the large number of compatible applications now produced by many commercial and non-commercial software developers. Our competitors range in size from diversified global companies with significant research and development resources to small, specialized firms As of June 30, 2014 and 2013, the total notional derivative amounts of mortgage contracts purchased were $1.1 billion and $1.2 billion, respectively. We aim to deliver the richest and most consistent user experience for digital work and life scenarios on screens of all sizes subsequently remitted to governmental authorities. restrictions on the free flow of funds (primarily currency and other local regulatory) was $2.6 billion. Advertising costs are expensed as incurred. Prior to that he served as Senior Vice President, General Counsel, and Secretary since November 2001. During fiscal year 2013, we recognized $540 million of previously deferred revenue related to the Windows Upgrade Offer. In lawsuits Microsoft filed in Germany in 2011 and 2012, Microsoft asserts that Motorola Android devices infringe Microsoft patents and is seeking damages and injunctions. Cost includes materials, labor, and manufacturing overhead related From 2006 through 2009, Ms. As of June 30, 2014, the primary unresolved issue relates to transfer pricing which could have a significant impact on our consolidated We estimate that $32 million of net derivative gains included in AOCI at June 30, 2014 will be reclassified In addition, we completed an assessment of any potential goodwill impairment for all reporting units immediately prior to the reallocation and determined that no impairment existed. Skype competes with a variety of instant messaging, voice, and video communication providers, ranging from start-ups to established enterprises. Also includes a charge for Surface RT inventory adjustments recorded in the fourth quarter of fiscal year 2013, which decreased operating income by $900 million, net income by $596 authorities have previously brought enforcement actions and continue to scrutinize our business. One judgment has been affirmed on appeal (and Motorola has Our success depends on our ability to attract new users, understand intent, and match intent with relevant content and advertiser offerings. The market for software, devices, and cloud-based services is dynamic and highly competitive. unit level using a discounted cash flow methodology with a peer-based, risk-adjusted weighted average cost of capital. "will," "would," "will be," "will continue," "will likely result," and similar expressions. Motorola asserts that one patent covers certain syncing functionality in the ActiveSync protocol employed by Windows Phone 7, Outlook Mobile, Hotmail Mobile, IBM, Oracle, SAP, and numerous web-based competitors as well as local application developers in Asia and Europe. and not designated as hedging instruments ("non-designated hedge derivatives"). A material adverse impact on our consolidated financial statements could occur for the period in which the effect of an unfavorable final outcome becomes In February 2012, Motorola counterclaimed alleging infringement of the patent and seeking damages and an injunction. deductible goodwill impairment charge that was recorded in fiscal year 2012. In addition, we use "To Be Announced" forward purchase commitments of mortgage-backed assets to gain exposure to agency and mortgage-backed securities. Sales and marketing expenses include payroll, employee benefits, stock-based compensation expense, and other The share repurchase program became effective on October 1, We also continue to be subject to examination by the I.R.S. Indenture, dated as of May 18, 2009, between Microsoft Corporation and The Bank of New York Mellon Trust Company, N.A., as Trustee, Sixth Supplemental Indenture for 1.000% Notes due 2018, 2.375% Notes due 2023, and 3.750% Notes due 2043, dated as of May 2, 2013, between Microsoft Corporation and The Bank of New York which Microsoft obtained injunctions, if Motorola were to prevail following all appeals, Motorola could have a claim against Microsoft for damages caused by an erroneously granted injunction. Dynamics CRM Online is designed to provide customer relationship management and supply chain management for small and mid-size businesses, large organizations, and divisions of global enterprises. Changes in these factors could materially impact our consolidated financial statements. Arrangements that include term-based licenses for current products with the right to use unspecified future versions of the software during the coverage period, are also accounted for as subscriptions, with revenue recognized ratably over the coverage period. Commercial Cloud revenue doubled, reflecting continued subscriber growth from our cloud-based offerings. Adoption of this new guidance resulted only in changes to the presentation of Note 19 – Accumulated Other Comprehensive Income of the Notes to Financial Statements.

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