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. Cost of revenue increased mainly due to higher volumes of Xbox consoles and Surface devices sold, and $575 million higher datacenter expenses, primarily in support of Commercial Cloud revenue growth. We also license standalone and software development lifecycle tools Also included in “Other” are business dispositions and transfers between business segments due to reorganizations, as applicable. portion of a reporting unit. files). The principal products and services provided by the new Phone Hardware segment are Lumia Smartphones and other non-Lumia phones, which we began manufacturing and selling with the acquisition of NDS on April 25, 2014. The finance code of ethics is publicly available on our website at agreed to license Nokia's mapping services and granted Nokia reciprocal rights to use our patents for their mapping and location services. foreign exchange contracts purchased and sold were $6.2 billion and $8.5 billion, respectively. We see significant opportunities for growth by investing research and development resources in the following areas: Our devices operating system and hardware. Internal last trading day of each three-month period. quantities on hand, future purchase commitments with our suppliers, and the estimated utility of our inventory. The acquisition costs were offset in part by lower Yahoo! Our goal is to enable customers to devote more resources to development and use of applications that benefit their businesses, rather than managing on-premises hardware and software. As of June 30, 2014, 2013, and 2012, we Revenue from external customers, classified by significant product and service offerings were as Revenue reconciling amounts for fiscal years 2012 and 2013 included the deferral and subsequent recognition, respectively, of $540 million of revenue related to the Windows Upgrade Offer. American Stock Transfer & Trust Company (AST), our transfer agent, can help you with a variety of shareholder related services including: AST also administers a direct stock purchase plan and a dividend reinvestment program for the company. Localizing a product may require modifying the user interface, altering dialog boxes, and translating text. Revenue from cloud-based services arrangements that allow for the use of a hosted software product or service over a contractually determined period of time without taking possession of software are accounted for as subscriptions with billings recorded as unearned revenue and recognized as revenue ratably over the coverage period beginning on the date the service is made available to customers. These estimates and assumptions are affected by management's application of accounting policies. Adoption of this new guidance resulted only in changes to the presentation of Note 19 – Accumulated Other Comprehensive Income. accounts receivable may increase. In addition to these cases, there are approximately 90 other patent infringement cases pending against Microsoft. In addition, in fiscal years 2013 and 2012, we recognized a reduction of 18% and These costs were offset in part by a $920 million or 24% decrease in Xbox Platform cost of revenue, due mainly to a decrease in manufacturing and These events or circumstances could include a significant change in the business climate, legal factors, operating performance indicators, competition, or sale or disposition of a significant portion of a reporting unit. plans to sell, the investment. They work to unlock business insights from a world of data. associated intellectual property. use of a discounted cash flow methodology. Microsoft Online Services Reseller Agreement is a program enabling partners to package Microsoft Online Services with the partners' services. pending in Seattle, Washington described above enjoin Motorola from enforcing the German injunction. 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. 2012 ANNUAL REPORT. Antitrust, Unfair Competition, and Overcharge Class Actions. Equity and other investments were $14.6 billion as of June 30, 2014, compared with $10.8 billion as of June 30, 2013. Our most significant expenses are related to compensating employees, designing, manufacturing, marketing, and selling our products and services, datacenter costs in support of our cloud-based services, and income taxes. The fair values are therefore determined using model-based techniques, including option pricing models and discounted cash flow models. Growth The purchase price consisted primarily of cash of $7.1 billion and Nokia’s repurchase of convertible notes of $2.1 billion which was a non-cash transaction. Often we are early adopters of new devices and technologies. We have borrowed funds domestically and continue to believe we have the ability to do so at reasonable interest rates. We have received no written comments regarding our periodic or current reports from the staff of the SEC that were issued 180 days or more The second broad category of OEMs consists of lower-volume PC patents and currently have a portfolio of over 55,000 U.S. and international patents issued and over 40,000 pending. If a significant portion of our source code leaks, we might lose future trade secret protection for that source code. investments. IPCom The proceeds of these issuances were or will be used for general corporate purposes, which may include, among other things, funding for working capital, capital expenditures, repurchases of capital stock, acquisitions, and repayment of existing debt. The loaned securities continue to be carried as investments on our balance sheet. global corporate citizenship initiatives, and other governance-related policies; other news and announcements that we may post from time to time that investors might find useful or interesting; and. The offer provided significantly discounted rights to purchase Windows 8 Pro to qualifying end-users that purchased Windows 7 PCs during the eligibility period. worldwide algorithmic transition and the paid search transition in the U.S. and planned international markets. Examples of assumptions include: the elements comprising a software arrangement, including the distinction between upgrades or enhancements and new products; when technological feasibility is achieved for our products; the potential outcome of future tax consequences of events that have been recognized in our consolidated financial statements or tax returns; and determining when investment impairments are other-than-temporary. In January 2013, the FASB clarified that the scope of this guidance applies to derivatives, repurchase agreements, and securities lending arrangements that are either offset or subject to an enforceable master netting arrangement, or similar agreements. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially. corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was Similarly, the absence of harmonized patent laws makes it more difficult to ensure consistent respect for patent rights. Following are the supplemental consolidated results of Microsoft Corporation on an unaudited pro forma basis, as if the Acquisition had been consummated on July 1, 2012: These pro forma results were based on estimates and assumptions, which we believe are reasonable. are online application marketplaces that are designed to benefit our developers and partner ecosystems by providing access to a large customer base and benefit users by providing centralized access to certified applications. Deferred tax assets are reported net of a valuation allowance when it is more likely than not that a tax benefit will not be realized. forward and spot prices for currencies and commodities. Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be We distribute software through OEMs preinstalled on. agreements, and securities lending arrangements that are either offset or subject to an enforceable master netting arrangement, or similar agreements. In the ordinary course of our business, there are many transactions and calculations where the ultimate tax Regulatory scrutiny in this area may increase. Server software is integrated server infrastructure and middleware designed to support software applications built on the Windows Server operating system. For derivative instruments that are not designated as hedges, gains (losses) from changes in fair values are primarily recognized in other income (expense). During fiscal years 2014 and 2013, our Board of Directors declared the following dividends: We provide indemnifications of varying scope and size to certain customers against claims of intellectual property infringement made by third parties arising from the use of our products and certain other matters. For the first quarter of fiscal year 2014, GAAP revenue, operating income, and diluted earnings per share included the deferral of $113 million of revenue primarily related to Windows 8.1 Pre-sales. We contribute fifty cents for each dollar of the first 6% a participant contributes in this plan, with a maximum contribution of the lesser of 3% of a participant's earnings or 3% of the IRS compensation limit for the given Challenging economic conditions also may impair the ability of our customers to pay for products and services they have purchased. Investment options in the U.S. plan include Microsoft common stock, but neither participant nor our matching contributions are required to be invested in Microsoft common stock. Based on the information currently available, we do Fiscal year 2014 General and administrative expenses increased $580 million or 13%, due to higher legal charges, primarily due to the European Commission fine of € 561 million (approximately $733 million) for failure to comply with our 2009 agreement to display a "Browser Choice Screen" on CAL revenue is reported along with the associated server or Office product. The market for software, devices, and cloud-based services is dynamic and highly competitive. in the fair value of our portfolio due to adverse market movements over a defined time horizon. not effective in executing organizational changes to increase efficiency and accelerate innovation, or if we fail to generate sufficient usage of our new products and services, we may not grow revenues in line with the infrastructure and development forma basis, as if the Acquisition had been consummated on July 1, 2012: These pro forma results were based on estimates and assumptions, which we believe are reasonable. Read more. Failure to ensure effective transfer of knowledge and smooth transitions involving key employees could hinder our strategic planning and execution. for as separate units of accounting, and if so, the fair value for each of the elements. The fair values of these investments approximate their carrying values. The regional center in Ireland supports the European, Middle Eastern, and African region; the center in Singapore supports the Japan, India, Greater China, and Asia-Pacific region; and the centers in Fargo, North Dakota, Fort Lauderdale, Florida, Puerto Rico, Redmond, Washington, and Reno, Nevada support Latin America and North America. Letter to Shareholders. The pro forma results include adjustments primarily These obligations may limit our ability to innovate in Windows or other products in the future, diminish the developer appeal of the Windows platform, and increase our product development costs. In general, and where applicable, we use quoted prices in active markets for identical assets or liabilities to determine the fair value of our financial instruments. You are entitled to attend the Annual Meeting only if you are a shareholder as of the close of business on September 30, 2014, the record date, or hold a valid proxy for the meeting. We believe Windows competes effectively by giving customers choice, value, flexibility, security, an easy-to-use interface, compatibility with a broad range of hardware and software applications, including those that enable productivity, and the largest support network for any operating system. As described in the Report of Management on Internal Control over Financial Reporting, management excluded from its assessment the internal control over financial reporting at Nokia Corporation’s Devices and Services business, acquired on April 25, 2014 and whose financial statements constitute 9% of total assets as of June 30, 2014 and 2% of total revenues for the year ended June 30, 2014. technology leader focused on being the productivity and platform company for the mobile-first and cloud-first world. When we look back on fiscal 2014, we could describe it as one of the most innovative years in Cisco's history. Consumer revenue is included in our D&C Other segment. issue new shares of Microsoft common stock to satisfy exercises and vesting of awards granted under all of our stock plans. The Nokia, along with other handset manufacturers and network operators, is a defendant in 19 lawsuits filed in the Superior Court for the District of Columbia by individual plaintiffs who allege that radio emissions from cellular handsets caused their brain tumors and other adverse health effects. We issue new shares of Microsoft common stock to satisfy exercises and vesting of awards granted under all of our stock plans. P.O. distributors include Ingram Micro and Tech Data, and some of our largest resellers include CDW, Dell, Insight Enterprises, and Software House International. (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as No impairment of goodwill was identified as of May 1, 2014 or May 2013. with sales and marketing personnel, and the costs of advertising, promotions, trade shows, seminars, and other programs. We aim to deliver the richest and most consistent user experience for digital work and life scenarios on screens of all sizes – from phones, tablets, and laptops to TVs and large, multi-touch displays. Our Microsoft Dynamics software offerings are also licensed to enterprises through a global network of channel partners providing vertical solutions and specialized services. 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 accounting principles generally accepted in the United States of America. In delivering organizational licensing agreements to the market, we use different programs designed to provide flexibility for organizations of various Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases and are stated at enacted tax rates expected to be in effect when the taxes are actually paid or recovered. It is possible that the information we post on social media could be deemed to be material to investors. arrangement, including the distinction between upgrades or enhancements and new products; when technological feasibility is achieved for our products; the potential outcome of future tax consequences of events that have been recognized in our We also offer PRINCIPAL ACCOUNTING FEES AND As of June 30, 2014, we had net operating loss carryforwards of $3.6 billion, including $2.2 billion of They decide what solutions will make employees more productive, collaborative, and satisfied, or connect with customers in new and compelling ways. As of June 30, 2013, the total notional amounts offixed-interest rate contracts purchased and sold were $1.1 billion and $809 million, respectively. Our Online Report database contains more than 500 links to Annual, Integrated and Sustainability Reports available to browse in HTML. Google provides Windows OEM revenue declined $136 million or The segment amounts conjunction with the acquisition. We generally fund research at the corporate level to ensure that we are looking beyond immediate product considerations to opportunities further in the future. Other. We Skype was consolidated into our results of operations starting on the acquisition date. Revenue from prepaid points redeemable for the purchase of software or services is recognized upon redemption of the points and delivery of the software or services. charge a variety of information for investors. This new guidance requires entities to present (either on the face of the income statement or in the notes to financial statements) the effects on the line items of the income statement for amounts reclassified out of AOCI. As of June 30, 2013, we had $15.6 billion of issued and outstanding long-term debt. pricing the asset or liability. The segments enable the alignment of strategies and objectives across the development, sales, marketing, and services organizations, and they provide a framework for Each case includes other co-defendants because most of the patents at issue allegedly relate to 3G and 4G wireless communications standards essential functionality.

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