Microsoft Excel LibreOffice Calc

Adobe Inc. (ADBE)


Income Statement

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Adobe Inc., consolidated income statement

US$ in thousands

Microsoft Excel LibreOffice Calc
12 months ended Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016 Nov 27, 2015 Nov 28, 2014
Subscription 9,994,463  7,922,152  6,133,869  4,584,833  3,223,904  2,076,584 
Product 647,788  622,153  706,767  800,498  1,125,146  1,627,803 
Services and support 529,046  485,703  460,869  469,099  446,461  442,678 
Revenue 11,171,297  9,030,008  7,301,505  5,854,430  4,795,511  4,147,065 
Subscription (1,222,520) (807,221) (623,048) (461,860) (409,194) (335,432)
Product (39,625) (46,009) (57,082) (68,917) (90,035) (97,099)
Services and support (410,575) (341,769) (330,361) (289,131) (245,088) (189,549)
Cost of revenue (1,672,720) (1,194,999) (1,010,491) (819,908) (744,317) (622,080)
Gross profit 9,498,577  7,835,009  6,291,014  5,034,522  4,051,194  3,524,985 
Research and development (1,930,228) (1,537,812) (1,224,059) (975,987) (862,730) (844,353)
Sales and marketing (3,244,347) (2,620,829) (2,197,592) (1,910,197) (1,683,242) (1,652,308)
General and administrative (880,637) (744,898) (624,706) (576,202) (533,478) (563,215)
Amortization of intangibles (175,244) (91,101) (76,562) (78,534) (68,649) (52,424)
Operating expenses (6,230,456) (4,994,640) (4,122,919) (3,540,920) (3,148,099) (3,112,300)
Operating income 3,268,121  2,840,369  2,168,095  1,493,602  903,095  412,685 
Interest income 68,321  92,540  66,069  47,340  28,759  21,355 
Foreign exchange gains (losses) (26,252) (42,612) (30,705) (35,716) (20,130) (18,840)
Realized gains on fixed income investments 171  655  1,673  2,880  3,309  4,024 
Realized losses on fixed income investments (295) (11,305) (725) (985) (354) (97)
Other 310  258  83  29  22,325  825 
Interest and other income (expense), net 42,255  39,536  36,395  13,548  33,909  7,267 
Interest expense (157,214) (89,242) (74,402) (70,442) (64,184) (59,732)
Realized investment gains 46,141  6,128  3,279  4,964  2,760  1,298 
Unrealized investment gains 5,572  —  4,274  186  —  912 
Realized investment losses (134) —  —  (6,720) (206) (1,054)
Unrealized investment losses —  (2,915) —  —  (1,593) — 
Investment gains (losses), net 51,579  3,213  7,553  (1,570) 961  1,156 
Non-operating income (expense), net (63,380) (46,493) (30,454) (58,464) (29,314) (51,309)
Income before income taxes 3,204,741  2,793,876  2,137,641  1,435,138  873,781  361,376 
Provision for income taxes (253,283) (203,102) (443,687) (266,356) (244,230) (92,981)
Net income 2,951,458  2,590,774  1,693,954  1,168,782  629,551  268,395 

Based on: 10-K (filing date: 2020-01-21), 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19), 10-K (filing date: 2015-01-20).

Income statement item Description The company
Revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Adobe Inc.’s revenue increased from 2017 to 2018 and from 2018 to 2019.
Operating income The net result for the period of deducting operating expenses from operating revenues. Adobe Inc.’s operating income increased from 2017 to 2018 and from 2018 to 2019.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Adobe Inc.’s income before income taxes increased from 2017 to 2018 and from 2018 to 2019.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Adobe Inc.’s net income increased from 2017 to 2018 and from 2018 to 2019.