Stock Analysis on Net
Stock Analysis on Net

Microsoft Corp. (NASDAQ:MSFT)

Adjustments to Financial Statements

Microsoft Excel LibreOffice Calc

Adjustments to Current Assets

Microsoft Corp., adjusted current assets

US$ in millions

Microsoft Excel LibreOffice Calc
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Current assets 184,406  181,915  175,552  169,662  159,851  139,660 
Adjustments
Add: Allowance for doubtful accounts 751  788  411  377  405  426 
After Adjustment
Adjusted current assets 185,157  182,703  175,963  170,039  160,256  140,086 

Based on: 10-K (filing date: 2021-07-29), 10-K (filing date: 2020-07-31), 10-K (filing date: 2019-08-01), 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-02), 10-K (filing date: 2016-07-28).

Adjustments to Total Assets

Microsoft Corp., adjusted total assets

US$ in millions

Microsoft Excel LibreOffice Calc
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Total assets 333,779  301,311  286,556  258,848  241,086  193,694 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 —  —  —  —  6,966  5,816 
Add: Allowance for doubtful accounts 751  788  411  377  405  426 
Less: Long-term deferred income tax assets (included in Other long-term assets)2 7,181  6,405  7,536  1,369  2,412  219 
After Adjustment
Adjusted total assets 327,349  295,694  279,431  257,856  246,045  199,717 

Based on: 10-K (filing date: 2021-07-29), 10-K (filing date: 2020-07-31), 10-K (filing date: 2019-08-01), 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-02), 10-K (filing date: 2016-07-28).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Long-term deferred income tax assets (included in Other long-term assets). See details »

Adjustments to Current Liabilities

Microsoft Corp., adjusted current liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Current liabilities 88,657  72,310  69,420  58,488  64,527  59,357 
Adjustments
Less: Short-term unearned revenue 41,525  36,000  32,676  28,905  34,102  27,468 
After Adjustment
Adjusted current liabilities 47,132  36,310  36,744  29,583  30,425  31,889 

Based on: 10-K (filing date: 2021-07-29), 10-K (filing date: 2020-07-31), 10-K (filing date: 2019-08-01), 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-02), 10-K (filing date: 2016-07-28).

Adjustments to Total Liabilities

Microsoft Corp., adjusted total liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Total liabilities 191,791  183,007  184,226  176,130  168,692  121,697 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  —  —  6,966  5,816 
Less: Long-term deferred income tax liabilities2 198  204  233  541  531  1,476 
Less: Unearned revenue 44,141  39,180  37,206  32,720  44,479  33,909 
After Adjustment
Adjusted total liabilities 147,452  143,623  146,787  142,869  130,648  92,128 

Based on: 10-K (filing date: 2021-07-29), 10-K (filing date: 2020-07-31), 10-K (filing date: 2019-08-01), 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-02), 10-K (filing date: 2016-07-28).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Long-term deferred income tax liabilities. See details »

Adjustments to Stockholders’ Equity

Microsoft Corp., adjusted stockholders’ equity

US$ in millions

Microsoft Excel LibreOffice Calc
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Stockholders’ equity 141,988  118,304  102,330  82,718  72,394  71,997 
Adjustments
Less: Net deferred income tax assets (liabilities)1 6,983  6,201  7,303  828  1,881  (1,257)
Add: Allowance for doubtful accounts 751  788  411  377  405  426 
Add: Unearned revenue 44,141  39,180  37,206  32,720  44,479  33,909 
After Adjustment
Adjusted stockholders’ equity 179,897  152,071  132,644  114,987  115,397  107,589 

Based on: 10-K (filing date: 2021-07-29), 10-K (filing date: 2020-07-31), 10-K (filing date: 2019-08-01), 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-02), 10-K (filing date: 2016-07-28).

1 Net deferred income tax assets (liabilities). See details »

Adjustments to Capitalization Table

Microsoft Corp., adjusted capitalization table

US$ in millions

Microsoft Excel LibreOffice Calc
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Short-term debt —  —  —  —  9,072  12,904 
Current portion of long-term debt 8,072  3,749  5,516  3,998  1,049  — 
Current finance lease liabilities 791  540  317  176  113  25 
Long-term debt, excluding current portion 50,074  59,578  66,662  72,242  76,073  40,783 
Long-term finance lease liabilities 11,750  8,956  6,257  4,125  2,425  761 
Total reported debt 70,687  72,823  78,752  80,541  88,732  54,473 
Stockholders’ equity 141,988  118,304  102,330  82,718  72,394  71,997 
Total reported capital 212,675  191,127  181,082  163,259  161,126  126,470 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  —  —  6,966  5,816 
Add: Operating lease liabilities (included in Other current liabilities)2 1,962  1,616  1,515  1,399  —  — 
Add: Long-term operating lease liabilities3 9,629  7,671  6,188  5,568  —  — 
Adjusted total debt 82,278  82,110  86,455  87,508  95,698  60,289 
Adjustments to Equity
Less: Net deferred income tax assets (liabilities)4 6,983  6,201  7,303  828  1,881  (1,257)
Add: Allowance for doubtful accounts 751  788  411  377  405  426 
Add: Unearned revenue 44,141  39,180  37,206  32,720  44,479  33,909 
Adjusted stockholders’ equity 179,897  152,071  132,644  114,987  115,397  107,589 
After Adjustment
Adjusted total capital 262,175  234,181  219,099  202,495  211,095  167,878 

Based on: 10-K (filing date: 2021-07-29), 10-K (filing date: 2020-07-31), 10-K (filing date: 2019-08-01), 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-02), 10-K (filing date: 2016-07-28).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Operating lease liabilities (included in Other current liabilities). See details »

3 Long-term operating lease liabilities. See details »

4 Net deferred income tax assets (liabilities). See details »

Adjustments to Revenues

Microsoft Corp., adjusted revenue

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Revenue 168,088  143,015  125,843  110,360  89,950  85,320 
Adjustment
Add: Increase (decrease) in unearned revenue 4,961  1,974  4,486  6,064  10,570  8,591 
After Adjustment
Adjusted revenue 173,049  144,989  130,329  116,424  100,520  93,911 

Based on: 10-K (filing date: 2021-07-29), 10-K (filing date: 2020-07-31), 10-K (filing date: 2019-08-01), 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-02), 10-K (filing date: 2016-07-28).

Adjustments to Reported Income

Microsoft Corp., adjusted net income

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Net income 61,271  44,281  39,240  16,571  21,204  16,798 
Adjustments
Add: Deferred income tax expense (benefit)1 (150) 11  (6,463) (5,143) (3,296) 332 
Add: Increase (decrease) in allowance for doubtful accounts (37) 377  34  32  (21) 91 
Add: Increase (decrease) in unearned revenue 4,961  1,974  4,486  6,064  10,570  8,591 
Add: Other comprehensive income (loss) (1,374) 3,523  1,914  (2,856) (1,106) (985)
After Adjustment
Adjusted net income 64,671  50,166  39,211  14,668  27,351  24,827 

Based on: 10-K (filing date: 2021-07-29), 10-K (filing date: 2020-07-31), 10-K (filing date: 2019-08-01), 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-02), 10-K (filing date: 2016-07-28).

1 Deferred income tax expense (benefit). See details »