ADOBE INC.
For the period ended Feb 28, 2025. Filed Mar 26, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Feb 28, 2025 · Filed Mar 26, 2025
Contents
Condensed Consolidated Balance Sheets February 28, 2025 and November 29, 2024
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except par value)
| February 28,2025 | November 29,2024 | |
|---|---|---|
| (Unaudited) | (*) | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $6,758 | $7,613 |
| Short-term investments | 677 | 273 |
| Trade receivables, net of allowances for doubtful accounts of $15 and $14, respectively | 1,973 | 2,072 |
| Prepaid expenses and other current assets | 1,447 | 1,274 |
| Total current assets | 10,855 | 11,232 |
| Property and equipment, net | 1,893 | 1,936 |
| Operating lease right-of-use assets, net | 266 | 281 |
| Goodwill | 12,777 | 12,788 |
| Other intangibles, net | 706 | 782 |
| Deferred income taxes | 1,820 | 1,657 |
| Other assets | 1,638 | 1,554 |
| Total assets | $29,955 | $30,230 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Trade payables | $326 | $361 |
| Accrued expenses and other current liabilities | 1,951 | 2,336 |
| Debt | — | 1,499 |
| Deferred revenue | 6,347 | 6,131 |
| Income taxes payable | 465 | 119 |
| Operating lease liabilities | 74 | 75 |
| Total current liabilities | 9,163 | 10,521 |
| Long-term liabilities: | ||
| Debt | 6,155 | 4,129 |
| Deferred revenue | 143 | 128 |
| Income taxes payable | 567 | 548 |
| Operating lease liabilities | 334 | 353 |
| Other liabilities | 498 | 446 |
| Total liabilities | 16,860 | 16,125 |
| Stockholders’ equity: | ||
| Preferred stock, $0.0001 par value; 2 shares authorized; none issued | — | — |
| Common stock, $0.0001 par value; 900 shares authorized; 601 shares issued; 435 and 441 shares outstanding, respectively | — | — |
| Additional paid-in capital | 13,894 | 13,419 |
| Retained earnings | 40,186 | 38,470 |
| Accumulated other comprehensive income (loss) | (158) | (201) |
| Treasury stock, at cost (166 and 160 shares, respectively) | (40,827) | (37,583) |
| Total stockholders’ equity | 13,095 | 14,105 |
| Total liabilities and stockholders’ equity | $29,955 | $30,230 |
(*) The condensed consolidated balance sheet as of November 29, 2024 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.
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