Fiscal year ending June 30. All repurchases were made using cash resources. The mix of income before income taxes between the U.S. and foreign countries impacted our effective tax rate as a result of the geographic distribution of, and customer demand for, our products and services. No one company, industry, or country can solve these challenges alone. LinkedIn, including Talent Solutions, Marketing Solutions, Premium Subscriptions, Sales Solutions, and Learning Solutions. We have committed $9.5 billion for the construction of new buildings, building improvements, and leasehold improvements as of June 30, 2021. We have savings plans in the U.S. that qualify under Section 401(k) of the Internal Revenue Code, and a number of savings plans in international locations. These metrics provide strategic product insights which allow us to assess the performance across our commercial and consumer businesses. These scenarios represent a move to unlock creativity and discover new habits, while simplifying security and management. "La passió i la vocació ens ha portat a analitzar i millorar la nostra manera de mirar, cuidar i protegir els nostres residents". Office Commercial products and cloud services revenue growth, Revenue from Office Commercial products and cloud services (Office 365 subscriptions, the Office 365 portion of Microsoft 365 Commercial subscriptions, and Office licensed on-premises), comprising Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, Office Consumer products and cloud services revenue growth, Revenue from Office Consumer products and cloud services, including Microsoft 365 Consumer subscriptions and Office licensed on-premises, The number of Office 365 Commercial seats at end of period where seats are paid users covered by an Office 365 Commercial subscription, The number of Microsoft 365 Consumer (formerly Office 365 Consumer) subscribers at end of period, Dynamics products and cloud services How we develop and use AI is also a critical component of trust. In fiscal year 2021, our U.S. income before income taxes was $35.0 billion and our foreign income before income taxes was $36.1 billion. PSP Partners, Emma N. Walmsley 2,4 Our Enterprise Services business competes with a wide range of companies that provide strategy and business planning, application development, and infrastructure services, including multinational consulting firms and small niche businesses focused on specific technologies. This is why we launched the Microsoft Cloud for Sustainability—to create a new business process category that will help every organization measure, report, and reduce their environmental impact. Windows also plays a critical role in fueling our cloud business and Microsoft 365 strategy, and it powers the growing range of devices on the “intelligent edge.”. Although each type of reselling partner may reach organizations of all sizes, LSPs are primarily engaged with large organizations, distributors resell primarily to VARs, and VARs typically reach small and medium organizations. Applying AI to drive insights and act on our customer’s behalf by understanding and interpreting their needs using natural methods of communication. We describe risks and uncertainties that could cause actual results and events to differ materially in “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and “Quantitative and Qualitative Disclosures about Market Risk” in our fiscal year 2021 Form 10-K. Research and development expenses increased $1.4 billion or 8% driven by investments in cloud engineering. 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. Nine of these cases were filed in 2002 and are consolidated for certain pre-trial proceedings; the remaining cases are stayed. Net realizable value is the estimated selling price less estimated costs of completion, disposal, and transportation. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit. We adopted the standard effective July 1, 2020. Open agreements are a simple, cost-effective way to acquire the latest Microsoft technology. This year, we expanded our hybrid capabilities to enable organizations to build, manage, and deploy applications anywhere. Sales and marketing expenses increased $519 million or 3% driven by investments in commercial sales, offset in part by a reduction in bad debt expense. LinkedIn connects the world’s professionals to make them more productive and successful and transforms the way companies hire, market, sell, and learn. This global approach helps us remain competitive in local markets and enables us to continue to attract top talent from across the world. Adjustments in purchase price allocations may require a change in the amounts allocated to goodwill during the periods in which the adjustments are determined. 118. During fiscal years 2021 and 2020, we repurchased 101 million shares and 126 million shares of our common stock for $23.0 billion and $19.7 billion, respectively, through our share repurchase programs. Cost of revenue is allocated in certain cases based on a relative revenue methodology. While it may be necessary in the future to seek or renew licenses relating to various aspects of our products, services, and business methods, we believe, based upon past experience and industry practice, such licenses generally can be obtained on commercially reasonable terms. Employees purchased the following shares during the periods presented: As of June 30, 2021, 88 million shares of our common stock were reserved for future issuance through the ESPP. We built on this pledge by adding commitments to be water positive by 2030, zero waste by 2030, and to protect ecosystems by developing a Planetary Computer. We work actively in the U.S. and internationally to ensure the enforcement of copyright, trademark, trade secret, and other protections that apply to our software and hardware products, services, business plans, and branding. Unearned revenue comprises mainly unearned revenue related to volume licensing programs, which may include Software Assurance (“SA”) and cloud services. Office Commercial (Office 365 subscriptions, the Office 365 portion of Microsoft 365 Commercial subscriptions, and Office licensed on-premises), comprising Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business. Obras ou Actividades Autorizadas a Particulares Memoria Anual 2021. Our gaming platform is designed to provide a variety of entertainment through a unique combination of content, community, and cloud. We also deliver relevant online advertising to a global audience. In cases where we allocate revenue to software updates, primarily because the updates are provided at no additional charge, revenue is recognized as the updates are provided, which is generally ratably over the estimated life of the related device or license. Azure is a trusted cloud with comprehensive compliance coverage and AI-based security built in. The leading indicator of digital transformation success can be measured by an organization’s ability to build predictive and analytical power. The amortization of these costs is included in cost of revenue over the estimated life of the products. Gains and losses representing hedge components excluded from the assessment of effectiveness are recognized in earnings. These controls include model validation, review of key model inputs, analysis of period-over-period fluctuations, and independent recalculation of prices where appropriate. Siete mujeres y siete hombres de los 14 directores que se nombran en la Junta general anual, es decir, paridad al 50 %. 2018 Annual Report 2018 PDF Version Online version. We believe our server products provide customers with advantages in performance, total costs of ownership, and productivity by delivering superior applications, development tools, compatibility with a broad base of hardware and software applications, security, and manageability. Our customers include individual consumers, small and medium organizations, large global enterprises, public-sector institutions, Internet service providers, application developers, and OEMs. Productivity and Business Processes revenue increased driven by Office 365 Commercial and LinkedIn. We believe our gaming platform is effectively positioned against, and uniquely differentiated from, competitive products and services based on significant innovation in hardware architecture, user interface, developer tools, online gaming and entertainment services, and continued strong exclusive content from our own first-party game franchises as well as other digital content offerings. Were unfavorable final outcomes to occur, there exists the possibility of a material adverse impact in our consolidated financial statements for the period in which the effects become reasonably estimable. CreditRiskMonitor is a financial risk analysis and news service for credit, supply chain and financial professionals. Inventing new gaming experiences that bring people together around their shared love for games on any devices and pushing the boundaries of innovation with console and PC gaming by creating the next wave of entertainment. Annual report Y e s E u r o p a - B u i l d i n g B r i d g e s 2021 2. Gone what age group is most suicidal 2021 Gone what age group uses facebook the most when. Archives of these events are also available. 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 management’s view of these matters may change in the future. Contacte. Our server products face competition from a wide variety of server operating systems and applications offered by companies with a range of market approaches. Equity investments with readily determinable fair values are measured at fair value. The Company remains under IRS audit, or subject to IRS audit, for tax years subsequent to 2003. This report includes estimates, projections, statements relating to our business plans, objectives, and expected operating results that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. We use a range of amounts to estimate SSP when we sell each of the products and services separately and need to determine whether there is a discount to be allocated based on the relative SSP of the various products and services. These capabilities have relied on the public cloud, which is built on the investments we have made over time. We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of June 30, 2021, based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated July 29, 2021, expressed an unqualified opinion on the Company’s internal control over financial reporting. We expect to recognize approximately 50% of this revenue over the next 12 months and the remainder thereafter. The extent to which the COVID-19 pandemic impacts our business going forward will depend on numerous evolving factors we cannot reliably predict. Surface revenue increased $302 million or 5%. [2] Utilidades diluidas por acción, con base en las ganancias netas, excluyendo partidas no recurrentes, después de intereses minoritarios. MEMORIA ANUAL 2021. We design and sell devices, including Surface and PC accessories. While we intend to defend these matters vigorously, adverse outcomes that we estimate could reach approximately $500 million in aggregate beyond recorded amounts are reasonably possible. Microsoft 365 Consumer subscribers increased 22% to 51.9 million. Revenue is recognized net of allowances for returns and any taxes collected from customers, which are subsequently remitted to governmental authorities. Memoria Anual 2006 PDF Version. Nuance is a cloud and artificial intelligence (“AI”) software provider with healthcare and enterprise AI experience, and the acquisition will build on our industry-specific cloud offerings. You can also send mail to the transfer agent at: Shareholders can sign up for electronic alerts to access the annual report and proxy statement online. Revenue increased $25.1 billion or 18% driven by growth across each of our segments. MEMORIA ANUAL 2021. Microsoft Corporation, Sandra E. Peterson 2,3 A person’s experience with technology spans a multitude of devices and has become increasingly more natural and multi-sensory with voice, ink, and gaze interactions. We encourage investors, the media, and others interested in Microsoft to review the information we post on the social media channels listed on our Investor Relations website. We are accelerating adoption of AI innovations from research to products. Based on the carrying amount of server and network equipment included in property and equipment, net as of June 30, 2020, the effect of this change in estimate for fiscal year 2021 was an increase in operating income of $2.7 billion and net income of $2.3 billion, or $0.30 per both basic and diluted share. Our approach to hybrid work starts with Teams—the only all-in-one solution that supports meetings, calls, chat, collaboration, and business process automation in day-to-day workflow. The following table outlines the estimated future amortization expense related to intangible assets held as of June 30, 2021: As of June 30, 2021 and 2020, the estimated fair value of long-term debt, including the current portion, was $70.0 billion and $77.1 billion, respectively. Judgment is required to determine the SSP for each distinct performance obligation. The TCJA significantly changes existing U.S. tax law and includes numerous provisions that affect our business. We expect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, material capital expenditures, and the transition tax related to the TCJA, for at least the next 12 months and thereafter for the foreseeable future. The credit risk and average maturity of our fixed-income portfolio are managed to achieve economic returns that correlate to certain fixed-income indices. Internal control over financial reporting is a process to provide reasonable assurance regarding the reliability of our financial reporting for external purposes in accordance with accounting principles generally accepted in the United States of America. Artificial intelligence (“AI”) capabilities are rapidly advancing, fueled by data and knowledge of the world. Our search business competes with Google and a wide array of websites, social platforms like Facebook, and portals that provide content and online offerings to end users. We operate our business and report our financial performance using three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Windows, including Windows OEM licensing (“Windows OEM”) and other non-volume licensing of the Windows operating system; Windows Commercial, comprising volume licensing of the Windows operating system, Windows cloud services, and other Windows commercial offerings; patent licensing; Windows IoT; and MSN advertising. Our devices are designed to enable people and organizations to connect to the people and content that matter most using Windows and integrated Microsoft products and services. REPORT ON THE INTERNATIONAL COUNCIL ON MINING AND METALS (ICMM)'S PERFORMANCE EXPECTATIONS. When cloud services require a significant level of integration and interdependency with software and the individual components are not considered distinct, all revenue is recognized over the period in which the cloud services are provided. There was no impact to our consolidated financial statements. This is not possible without trust. Revenue from sales of Windows Pro licenses sold through the OEM channel, which primarily addresses demand in the commercial market, Revenue from sales of Windows non-Pro licenses sold through the OEM channel, which primarily addresses demand in the consumer market, Windows Commercial products and cloud From time to time, we enter into broader cross-license agreements with other technology companies covering entire groups of patents. New employee orientation covering a range of topics including company values, culture, and Standards of Business Conduct, as well as ongoing onboarding program. In fiscal year 2020, we removed $2.0 billion of foreign net operating losses and corresponding valuation allowances as a result of the liquidation of a foreign subsidiary. Our server products are designed to make IT professionals, developers, and their systems more productive and efficient. Inventories are stated at average cost, subject to the lower of cost or net realizable value. To expand usage and deepen engagement, we continue to invest in content, community, and cloud services as we pursue the expansive opportunity in the gaming industry. We use a single amount to estimate SSP for items that are not sold separately, including on-premises licenses sold with SA or software updates provided at no additional charge. Utilización do Porto Memoria Anual 2021. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Debido a que durante el desarrollo de los planes de venta ocurren muchas sorpresas, el departamento de ventas debe de dar seguimiento y control continuo a las actividades de venta. Facebook Instagram. Bethesda is one of the largest, privately held game developers and publishers in the world, and brings a broad portfolio of games, technology, and talent to Xbox. We report our financial performance based on the following segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Se invitará a los accionistas a través de los canales habituales. We took a wide variety of measures to protect the health and well-being of our employees, suppliers, and customers during the COVID-19 pandemic. Refer to Note 19 – Segment Information and Geographic Data for further information, including revenue by significant product and service offering. Operating expenses that are allocated primarily include those relating to marketing of products and services from which multiple segments benefit and are generally allocated based on relative gross margin. Management is responsible for the preparation of the consolidated financial statements and related information that are presented in this report. Deloitte & Touche LLP and the internal auditors each have full and free access to the Audit Committee. Finally, we believe transparency is the foundation of trust, so we continue to offer clear information on how we run our business and work with customers and partners. Personalized, integrated, and relevant views of all learning opportunities on our internal learning portal, our external learning portal MS Learn, and LinkedIn Learning that is available to all employees worldwide. Chairman and Chief Executive Officer, 2021 Annual Report. We also settled a portion of the IRS audit for tax years 2007 to 2009 in fiscal year 2016, and a portion of the IRS audit for tax years 2010 to 2013 in fiscal year 2018. Income taxes paid, net of refunds, were $13.4 billion, $12.5 billion, and $8.4 billion in fiscal years 2021, 2020, and 2019, respectively. Additionally, for certain equipment leases, we apply a portfolio approach to effectively account for the operating lease ROU assets and liabilities. A company’s 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. In October 2016, the Court of Appeals issued its decision adopting the standard advocated by the defendants and remanding the cases to the trial court for further proceedings under that standard. President and Vice Chair, Christopher C. Capossela Inventories are stated at average cost, subject to the lower of cost or net realizable value. Enterprise Services revenue increased $534 million or 8% driven by growth in Premier Support Services. Okta, Proofpoint, and Symantec provide security solutions across email security, information protection, identity, and governance. Level 3 investments are valued using internally-developed models with unobservable inputs. Income tax expense includes U.S. and international income taxes, and interest and penalties on uncertain tax positions. With significant input from employees and leaders who are members of the Black and African American community, our senior leadership team and board of directors announced in June 2020 that we had developed a set of actions to help improve the lived experience at Microsoft and drive change in the communities in which we live and work. We evaluated the appropriateness and consistency of management’s methods and assumptions used in the identification, recognition, measurement, and disclosure of uncertain tax positions, which included testing the effectiveness of the related internal controls. Preparing consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. We protect our intellectual property investments in a variety of ways. These costs include our internal sales force compensation program and certain partner sales incentive programs as we have determined annual compensation is commensurate with annual sales activities. Àngels Ponsa Roca i el Sr. Lluís Baulenas Cases han cessat en la seva condició de Patrons 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. The financial results of ZeniMax have been included in our consolidated financial statements since the date of the acquisition. Changes in these estimates and assumptions could materially affect the determination of fair value and goodwill impairment for each reporting unit. Determination of stand-alone selling prices for each distinct performance obligation and for products and services that are not sold separately.