While these provisions are not expected to have a material impact on our fiscal year 2023 effective tax rate on a net basis, our cash paid for taxes would increase unless these provisions are postponed or modified through legislative processes. May 27, 2022. 2022 Annual Report. Xbox is designed to benefit users by providing access to a network of certified applications and services and to benefit our developer and partner ecosystems by providing access to a large customer base. Returns and credits are estimated at contract inception and updated at the end of each reporting period if additional information becomes available. Customers are looking to unlock value while simplifying security and management. During the periods presented, we reported our financial performance based on the following segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Letter of transmittal. These forward-looking statements generally are identified by the words believe, project, expect, anticipate, estimate, intend, strategy, future, opportunity, plan, may, should, will, would, will be, will continue, will likely result, and similar expressions. The total shareholder dividend for FY2022 was 325 US cents, an annual cash return of a record US$16.4 billion to shareholders and representing a 77 per cent payout ratio. Together, Microsoft and Nuance will enable organizations across industries to accelerate their business goals with security-focused, cloud- based solutions infused with powerful, vertically optimized AI. We believe Windows competes effectively by giving customers choice, value, flexibility, security, an easy-to-use interface, and compatibility with a broad range of hardware and software applications, including those that enable productivity. Total capitalized costs to obtain a contract were immaterial during the periods presented and are included in other current and long-term assets in our consolidated balance sheets. We strive to make computing more personal by putting people at the core of the experience, enabling them to interact with technology in more intuitive, engaging, and dynamic ways. For certain equipment leases, such as vehicles, we account for the lease and non-lease components as a single lease component. Azure enables customers to devote more resources to development and use of applications that benefit their organizations, rather than managing on-premises hardware and software. Surface revenue increased $226 million or 3%. We monitor our foreign currency exposures daily to maximize the economic effectiveness of our foreign currency hedge positions. (1,090) 3,243 1) (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 The plaintiffs allege that their handsets either operated outside the FCC Guidelines or were manufactured before the FCC Guidelines went into effect. At times, we may hold options, futures, and swap contracts. We are 90 percent of the way to our 2025 commitment to double the number of Black and African American people managers, senior individual contributors, and senior leaders in the U.S., and 50 percent of the way for Hispanic and Latinx people managers, senior individual contributors, and senior leaders in the U.S. We exceeded our goal on increasing the percentage of transaction volumes with Black- and African American-owned financial institutions and increased our deposits with Black- and African American-owned minority depository institutions, enabling increased funds into local communities. Adjusted net income and adjusted diluted earnings per share (EPS) are non-GAAP financial measures which exclude the net income tax benefit related to transfer of intangible properties in the first quarter of fiscal year 2022 and the net income tax benefit related to an India Supreme Court decision on withholding taxes in the third quarter of fiscal year 2021. Zoom offers videoconferencing and cloud phone solutions. The consolidated financial statements, which include amounts based on managements estimates and judgments, have been prepared in conformity with accounting principles generally accepted in the United States of America. Since 2017, weve helped more than 50 million people in unserved rural communities globally gain access to affordable broadband coverage. In fiscal year 2022, our U.S. income before income taxes was $47.8 billion and our foreign income before income taxes was $35.9 billion. Google provides a hosted messaging and productivity suite. Certain forecasted transactions, assets, and liabilities are exposed to foreign currency risk. Economic Conditions, Challenges, and Risks. Publication Date: 29 April 2022. The majority of our foreign net operating loss carryforwards do not expire. SA conveys rights to new software and upgrades for perpetual licenses released over the contract period. We believe our allowances for income tax contingencies are adequate. To keep our customers secure, we build security by design into every product we sell, and we deliver end-to-end solutions spanning security, compliance, identity, device management, and privacy across clouds and platforms. Time: 8:30 a.m. Pacific Time Although we were not a party to the appeals, our software sales in India were determined to be not subject to withholding taxes. Analysis of Zara Corporation's Sustainability Report and How the Company Should Change Their Strategy to Boost Their Sustainability Category Business, Environment Subcategory Strategy, Nature, Corporation Topic Strategic Management, Sustainability, Zara Words 1326 (3 pages) Downloads 114 Download for Free To meet the expectations of our stakeholders and to and maintain their trust, we are committed to conducting our business in ways that are principled, transparent, and accountable and we have made a broad range of environmental and social commitments. Before releasing new software platforms, and as we make significant modifications to existing platforms, we provide application vendors with a range of resources and guidelines for development, training, and testing. We released our Responsible AI Standard, which outlines 17 goals aligned to our six AI principles and includes tools and practices to support them. .. .. Consolidated statement of changes in equity. Each year we strive to increase representation, and 2022 was no exception. Windows Commercial revenue often reflects the number of information workers in a licensed enterprise and is relatively independent of the number of PCs sold in a given year. Our efforts to preserve and protect journalism in the United States and Mexico have been extended globally through new partnerships with the Thomson Reuters Foundation, Report for the World, and others. We compete by providing powerful, flexible, secure, integrated industry-specific, and easy-to-use productivity and collaboration tools and services that create comprehensive solutions and work well with technologies our customers already have both on-premises or in the cloud. We are accelerating adoption of AI innovations from research to products. While our main product research and development facilities are located in Redmond, Washington, we also operate research and development facilities in other parts of the U.S. and around the world. In general, investments with original maturities of greater than three months and remaining maturities of less than one year are classified as short-term investments. Our industry is dynamic and highly competitive, with frequent changes in both technologies and business models. Certain of our counterparty agreements for derivative instruments contain provisions that require our issued and outstanding long-term unsecured debt to maintain an investment grade credit rating and require us to maintain minimum liquidity of $1.0 billion. Azure Arc simplifies governance and management by delivering a consistent multi-cloud and on-premises management platform. As of June 30, 2022, $40.7 billion remained of our $60 billion share repurchase program. At Microsoft, we push the boundaries of what is possible through a broad range of research and development activities that seek to identify and address the changing demands of customers and users, industry trends, and competitive forces. shares (71) Microsoft Cloud gross margin percentage decreased slightly to 70%. Low-code/no-code tools are rapidly becoming a priority for every organizations digital capability. But What is Inditex? The federal capital loss carryforwards are subject to an annual limitation and will expire in various years from fiscal 2023 through 2025. Microsoft Power Platform is helping domain experts drive productivity gains with low-code/no-code tools, robotic process automation, virtual agents, and business intelligence. Goodwill is tested for impairment at the reporting unit level (operating segment or one level below an operating segment) on an annual basis (May 1 for us) and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. We also license standalone and software development lifecycle tools for software architects, developers, testers, and project managers. By using our site, you agree to our collection of information through the use of cookies. Commercial remaining performance obligation, Commercial portion of revenue allocated to remaining performance obligations, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods, Revenue from Azure and other cloud services, Office 365 Commercial, the commercial portion of LinkedIn, Dynamics 365, and other commercial cloud properties, Gross margin percentage for our Microsoft Cloud business, Productivity and Business Processes and Intelligent Cloud. Office Consumer is designed to increase personal productivity through a range of products and services. Microsoft Corporation, Sandra E. Peterson 2,3 To the extent we fail to meet these requirements, we will be required to post collateral, similar to the standard convention related to over-the-counter derivatives. Any change in the goodwill amounts resulting from foreign currency translations and purchase accounting adjustments are presented as Other in the table above. A Microsoft Customer Agreement is a non-expiring agreement that is designed to support all customers over time, whether purchasing through a partner or directly from Microsoft. We are committed to designing and marketing first-party devices to help drive innovation, create new device categories, and stimulate demand in the Windows ecosystem. Address by Dr. Y K Hamied, Chairman at the 86th Annual General Meeting. Our principal audit procedures related to the Company's revenue recognition for these customer agreements included the following: Income Taxes Uncertain Tax Positions Refer to Note 12 to the financial statements. Our efforts have involved both defending key infrastructure in the countryincluding assisting with the detection and disruption of cyberattacks and cyberinfluence operations and evacuating data to the cloudas well as supporting people, communities, and organizations on the ground as part of our humanitarian and disaster response. Finally, we provide clear reporting and information on how we run our business and how we work with customers and partners, delivering the transparency that is central to trust. Our web application platform software competes with open source software such as Apache, Linux, MySQL, and PHP. We account for certain assets and liabilities at fair value. Refer to Risk Factors in our fiscal year 2022 Form 10-K for a discussion of these factors and other risks. 2422. We are accelerating our development of mixed reality solutions with new Azure services and devices. Fluctuations in the U.S. dollar relative to certain foreign currencies did not have a material impact on reported revenue or expenses from our international operations in fiscal year 2022. Windows OEM revenue increased 11% driven by continued strength in the commercial PC market, which has higher revenue per license. 2 BP Annual Report and Form 20-F 2016 BP in action BP at a glance We are a global energy company Scale with wide reach across the world's energy system. Every organization in every industry will need to infuse technology into every business process and function so they can do more with less. Competitors to Office include software and global application vendors, such as Apple, Cisco Systems, Meta, Google, IBM, Okta, Proofpoint, Slack, Symantec, Zoom, and numerous web-based and mobile application competitors as well as local application developers. No additional shares were requested at this meeting. For earlier reports, send your request to Media.Franchisor@Inter.IKEA.com. We have broadened our approach to how we think about gaming end-to-end, from the way games are created and distributed to how they are played, including cloud gaming so players can stream across PC, console, and mobile. In December 2019, the Financial Accounting Standards Board issued a new standard to simplify the accounting for income taxes. accounting records of Inditex and of the other Group companies. Revenue from Office 365 is recognized ratably over the period in which the cloud services are provided. We also distributed a further US$19.6 billion as an in specie dividend through the merger of our Petroleum business with Woodside. And no company is better positioned to help them than Microsoft. A companys internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Russia's Wildberries Selling Zara Clothes Online Despite Inditex Halting Operations Inditex invests in textile waste company Circ Inditex shareholders back heiress Marta Ortega as chairwoman Zara has a world network of 2270 retail stores and the brand uses the same model for designing, production, distribution, and sale of its products. Its what I believe will make the difference between organizations that thrive and those that get left behind. 1 For access to additional financial information, visit the Investor Relations website online at: www.microsoft.com/investor. As most of our leases do not provide an implicit rate, we generally use our incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. ZeniMax is reported as part of our More Personal Computing segment. Department of Women, Youth and Persons with Disabilities Annual Report 2021/2022. It was last conducted at this . Archived annual reports. From infrastructure and data, to business applications and collaboration, we provide unique, differentiated value to customers. Demographic Factors This is the study of the human population in terms of their age. The estimated fair values are based on Level 2 inputs. We perform a qualitative assessment on a periodic basis and recognize an impairment if there are sufficient indicators that the fair value of the investment is less than carrying value. Any shareholder can join the Annual Meeting, while shareholders of record as of October 12, 2022, will be able to vote and submit questions during the meeting. As we have diversity of target audiences and sales motions within the Windows business, we monitor metrics that are reflective of those varying motions. In instances where the timing of revenue recognition differs from the timing of invoicing, we have determined our contracts generally do not include a significant financing component. Refer to Note 11 Debt of the Notes to Financial Statements in our fiscal year 2022 Form 10-K for further discussion. Our mission to empower every person and every organization on the planet to achieve more has never been more urgent or more necessary. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We perform a qualitative assessment on a periodic basis. Therefore, we recorded a net income tax benefit of $620 million in the third quarter of fiscal year 2021 to reflect the results of the India Supreme Court decision impacting fiscal year 1996 through fiscal year 2016. And the Microsoft Cloud surpassed $100 billion in annualized revenue for the first time. Inditex has reached its limit for free report views. Although management currently believes that resolving claims against us, individually or in aggregate, will not have a material adverse impact in our consolidated financial statements, these matters are subject to inherent uncertainties and managements view of these matters may change in the future. Our Microsoft Cloud (formerly commercial cloud) revenue, which includes Azure and other cloud services, Office 365 Commercial, the commercial portion of LinkedIn, Dynamics 365, and other commercial cloud properties, was $91.2 billion, $69.1 billion and $51.7 billion in fiscal years 2022, 2021, and 2020, respectively. LinkedIn connects the worlds professionals to make them more productive and successful and transforms the way companies hire, market, sell, and learn. This analysis requires significant judgments, including estimation of future cash flows, which is dependent on internal forecasts, estimation of the long-term rate of growth for our business, estimation of the useful life over which cash flows will occur, and determination of our weighted average cost of capital. Other reconciling items, net consists primarily of tax credits and GILTI tax, and in fiscal year 2021, includes tax benefits from the India Supreme Court decision on withholding taxes. Equity investments were $6.9 billion and $6.0 billion as of June 30, 2022 and 2021, respectively. This year, we introduced GitHub Copilot, a first-of-its-kind AI pair programmer, to help developers write better code faster. All repurchases were made using cash resources. The opportunity to merge the physical and digital worlds, when combined with the power of Azure cloud services, unlocks new workloads and experiences to create common understanding and drive more informed decisions. Our gaming platform competes with console platforms from Nintendo and Sony, both of which have a large, established base of customers. Our goal is to lead the industry in several distinct areas of technology over the long term, which we expect will translate to sustained growth. The lawsuits also allege an industry- wide conspiracy to manipulate the science and testing around emission guidelines. At times, we make select intellectual property broadly available at no or low cost to achieve a strategic objective, such as promoting industry standards, advancing interoperability, supporting societal and/or environmental efforts, or attracting and enabling our external development community. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Additionally, for certain equipment leases, we apply a portfolio approach to effectively account for the operating lease ROU assets and liabilities. Internal control over financial reporting includes maintaining records that in reasonable detail accurately and fairly reflect our transactions; providing reasonable assurance that transactions are recorded as necessary for preparation of our consolidated financial statements; providing reasonable assurance that receipts and expenditures of company assets are made in accordance with management authorization; and providing reasonable assurance that unauthorized acquisition, use, or disposition of company assets that could have a material effect on our consolidated financial statements would be prevented or detected on a timely basis. LinkedIn has become mission critical to connect creators with their communities, job seekers with jobs, learners with skills, and marketers with buyers. View We evaluated management's significant accounting policies related to these customer agreements for reasonableness. We identified four attributes that allow growth mindset to flourish: Our employee listening systems enable us to gather feedback directly from our workforce to inform our programs and employee needs globally. These controls include model validation, review of key model inputs, analysis of period-over-period fluctuations, and independent recalculation of prices where appropriate. The stakeholder however has the power to stop the unethical incidents including making an event for the prevention of harm towards the customers. Office Commercial revenue is mainly affected by a combination of continued installed base growth and average revenue per user expansion, as well as the continued shift from Office licensed on-premises to Office 365. Department of Forestry, Fisheries and the Environment Annual Report 2021/2022. 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