9 unchanged sentences
Total Number of Shares
−Removed: (in thousands, except average price per share)
+Added: Repurchased Average
+Added: (in millions, except average price per share)
Beginning repurchase authority (1)
5 unchanged sentences
Shares repurchased 0.6 $ 471.53 0.6 $ (283) (2)
+Added: Total 1.6 1.6 $ 2,305
_________________________________________
5 unchanged sentences
As our historical operating results are not necessarily indicative of future operating results, this data should be read in conjunction with the Consolidated Financial Statements and notes thereto, and with Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.
−Removed: (in thousands, except per share amounts and employee data)
+Added: On November 30, 2019, the beginning of our fiscal year 2020, we adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No.
+Added: 2016-02, Leases (Topic 842), using the alternative modified retrospective transition method provided in ASU 2018-11, Leases (Topic 842):
+Added: Targeted Improvements.
+Added: Similarly, on December 1, 2018, the beginning of our fiscal year 2019, we adopted the FASB’s ASU No.
+Added: 2014-09, Revenue from Contracts with Customers (Topic 606), using the modified retrospective method of transition.
+Added: Financial information prior to the respective periods of adoption has not been restated and continues to be reported under the accounting standards in effect for those periods.
+Added: (in millions, except per share amounts and employee data) Fiscal Years
+Added: 2020 2019 2018 2017 2016 (2)
+Added: Revenue $ 12,868 $ 11,171 $ 9,030 $ 7,302 $ 5,854
+Added: Gross profit $ 11,146 $ 9,498 $ 7,835 $ 6,291 $ 5,035
Income before income taxes $ 4,176 $ 3,205 $ 2,794 $ 2,138 $ 1,435
+Added: Net income $ 5,260 $ 2,951 $ 2,591 $ 1,694 $ 1,169
Net income per share:
+Added: Basic $ 10.94 $ 6.07 $ 5.28 $ 3.43 $ 2.35
+Added: Diluted $ 10.83 $ 6.00 $ 5.20 $ 3.38 $ 2.32
Shares used to compute basic net income per share 481 486 491 494 498
3 unchanged sentences
Working capital (1)
+Added: $ 2,634 $ (1,696) $ 556 $ 3,720 $ 3,028
+Added: Total assets $ 24,284 $ 20,762 $ 18,769 $ 14,536 $ 12,697
Debt, current $ — $ 3,149 $ — $ — $ —
4 unchanged sentences
_________________________________________
−Removed: On December 1, 2018, the beginning of our fiscal year 2019, we adopted the requirements of the Financial Accounting Standards Board’s Accounting Standards Update No.
−Removed: 2014-09, Revenue from Contracts with Customers, Topic 606, utilizing the modified retrospective method of transition.
−Removed: Prior period information has not been restated and continues to be reported under the accounting standard in effect for those periods.
(1) As of November 29, 2019, working capital was in a deficit primarily due to the reclassification of our $2.25 billion term loan due April 30, 2020 and $900 million 4.75% senior notes due February 1, 2020 to current liabilities.
−Removed: We intend to refinance our Term Loan and 2020 Notes on or before the due dates.
+Added: We subsequently refinanced our Term Loan and 2020 Notes in February 2020, before the respective due dates.
(2) Our fiscal year is a 52- or 53-week year that ends on the Friday closest to November 30.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.