Intuit Inc. (INTU)

Intuit considers highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. In all periods presented, cash equivalents consist primarily of time deposits, savings deposit accounts, and money market funds, and investments consist primarily of investment-grade available-for-sale debt securities. Except for direct obligations of the United States government, securities issued by agencies of the United States government, and money market funds, Intuit diversifies the investments by limiting the holdings with any individual issuer.

Intuit uses the specific identification method to compute gains and losses on investments. Intuit records unrealized gains and losses on investments, net of tax, in accumulated other comprehensive income in the stockholders’ equity section of the consolidated balance sheets and reflects unrealized gain and loss activity in other comprehensive income on the consolidated statement of comprehensive income. Intuit generally classifies available-for-sale debt securities as current assets based upon the ability and intent to use any and all of these securities as necessary to satisfy the significant short-term liquidity requirements that may arise from the highly seasonal nature of the businesses. Because of the significant business seasonality, stock repurchase programs, and acquisition opportunities, cash flow requirements may fluctuate dramatically from quarter to quarter and require Intuit to use a significant amount of the investments Intuit holds as available-for-sale.

Source: 10-K (filing date: 2019-08-30).

Intuit Inc., adjustment to Net Income

US$ in millions

	12 months ended	Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Net income (as reported)
	Add: Unrealized gain (loss) on available-for-sale debt securities
	Net income (adjusted)

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

Intuit Inc., adjusted ratios

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Net Profit Margin
	Reported net profit margin
	Adjusted net profit margin
	Return on Equity (ROE)
	Reported ROE
	Adjusted ROE
	Return on Assets (ROA)
	Reported ROA
	Adjusted ROA

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

Intuit Inc., Ratios: Reported vs. Adjusted

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	As Reported
	Selected Financial Data (US$ in millions)
	Net income
	Net revenue
	Ratio
	Net profit margin1
	Adjusted: Mark to Market Available-for-sale Securities
	Selected Financial Data (US$ in millions)
	Adjusted net income
	Net revenue
	Ratio
	Adjusted net profit margin2

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

2019 Calculations

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	As Reported
	Selected Financial Data (US$ in millions)
	Net income
	Stockholders’ equity
	Ratio
	ROE1
	Adjusted: Mark to Market Available-for-sale Securities
	Selected Financial Data (US$ in millions)
	Adjusted net income
	Stockholders’ equity
	Ratio
	Adjusted ROE2

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

2019 Calculations

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	As Reported
	Selected Financial Data (US$ in millions)
	Net income
	Total assets
	Ratio
	ROA1
	Adjusted: Mark to Market Available-for-sale Securities
	Selected Financial Data (US$ in millions)
	Adjusted net income
	Total assets
	Ratio
	Adjusted ROA2

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

2019 Calculations