zara annual report 2022 pdf

None of the goodwill is expected to be deductible for income tax purposes. You can contact Microsoft Investor Relations at any time to order financial documents such as annual reports and Form 10-Ks free of charge. We analyze 43 trillion security signals daily and use the insights to inform increased protections. We design our devices, from Surface to Xbox, to minimize their impact on the environment. .. . Report on Internal Control Systems (ICFR). To foster their and our success, we seek to create an environment where people can thrive, where they can do their best work, where they can proudly be their authentic selves, guided by our values, and where they know their needs can be met. Our gaming platform competes with console platforms from Nintendo and Sony, both of which have a large, established base of customers. 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. Xbox Game Pass is a community with access to a curated library of over 100 first- and third-party console and PC titles. Report Locked. 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. Our Search and news advertising business competes with Google and a wide array of websites, social platforms like Meta, and portals that provide content and online offerings to end users. 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. The information found on these websites is not part of, or incorporated by reference into, this or any other report we file with, or furnish to, the SEC. Inditex started with the ambition to make fashionable, quality and life-enhancing clothes for people. Over the last year, we collaborated with partners and worked within neighborhoods and communities to launch and scale a number of projects and programs, including: working with 70 organizations in 145 communities on the Justice Reform Initiative, expanding access to affordable broadband and devices for Black and African American communities and key institutions that support them in major urban centers, expanding access to skills and education to support Black and African American students and adults to succeed in the digital economy, and increasing technology support for nonprofits that provide critical services to Black and African American communities. It is impracticable for us to separately identify the amount of amortization and depreciation by segment that is included in the measure of segment profit or loss. 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. We think of diversity and inclusion as core to our business model, informing our actions to impact economies and people around the world. Internal development allows us to maintain competitive advantages that come from product differentiation and closer technical control over our products and services. (2,189) We develop most of our products and services internally through the following engineering groups. Teri L. List 1,3 Annual Report 2021 (pdf, 7.73 MB) Download "Our new customer growth and strategic progress in 2021 underline the immense opportunity ahead of us. 1) (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 In fiscal year 2021, we closed our Microsoft Store physical locations and opened our Microsoft Experience Centers. Revenue and costs are generally directly attributed to our segments. Gross margin increased $3.1 billion or 10% driven by growth in Windows and Search and news advertising. 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. They sell in 202 markets through their online platforms and their over 7,000 stores in 96 markets. And with Microsoft Viva, were building an employee experience platform that brings together communications, knowledge, learning, resources, and insights in the flow of work to empower employees and strengthen their connection to their companys mission and culture. Every organization in every industry will need to infuse technology into every business process and function so they can do more with less. Across our customer solution areas, we are delivering powerful platforms, tools, and services that expand our opportunity to help every organization in every industry deliver on the digital imperativewith a business model that is trusted and always aligned with their success. Download. Company Profile & Annual Report for Zara Usa Access the complete profile. Enter the email address you signed up with and we'll email you a reset link. Gains and losses representing hedge components excluded from the assessment of effectiveness are recognized in other income (expense), net. Our work to help preserve, protect, and advance democracy by promoting a healthy information ecosystem and safeguarding electoral processes is as salient as ever in todays geopolitical climate. Founder and Chairman, Trilogy Under the terms of the ESPP that were approved in 2012, the plan was set to terminate on December 31, 2022. We support multiple highly active Employee Resource Groups for women, families, racial and ethnic minorities, military, people with disabilities, and employees who identify as LGBTQIA+, where employees can go for support, networking, and community-building. .. 5.9. Broker pricing is used mainly when a quoted price is not available, the investment is not priced by our pricing vendors, or when a broker price is more reflective of fair values in the market in which the investment trades. (1,090) 3,243 Examples include invoicing at the beginning of a subscription term with revenue recognized ratably over the contract period, and multi-year on-premises licenses that are invoiced annually with revenue recognized upfront. Our intangible assets are subject to amortization and are amortized using the straight-line method over their estimated period of benefit, ranging from one to 20 years. The following table reconciles our financial results reported in accordance with GAAP to non-GAAP financial results: 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. It reimagines everything from the user experience to the store to help people and organizations be more productive, connected, and secure, and to build a more open ecosystem for developers and creators. We are focused on building capabilities to support a variety of workstyles where individuals, teams, and our business can deliver success. We also continue to deliver affordable, relevant cloud technology and industry-specific solutions to nonprofit organizations addressing the worlds most pressing issues. Announcements of investor conferences, speeches, and events at which our executives talk about our product, service, and competitive strategies. Certain volume licensing programs, including Enterprise Agreements, include on-premises licenses combined with Software Assurance (SA). Spanish multinational clothing company Inditex (OTHER OTC:IDEXF -0.60%) , which owns large retailers like Zara and Bershka, announced in its 2020 annual report that its net income fell by . 2023 Copyright, Zara Investment Holding - All Rights Reserved. Our growth depends on securely delivering continuous innovation and advancing our leading productivity and collaboration tools and services, including Office 365, Dynamics 365, and LinkedIn. The allocation of the purchase price to goodwill was completed as of December 31, 2021. 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. Nuance is reported as part of our Intelligent Cloud segment. Collaborating to have a positive impact, 5.1. These allocated costs include legal, including settlements and fines, information technology, human resources, finance, excise taxes, field selling, shared facilities services, and customer service and support. Our corporate learning portal has over 100,000 average monthly active users. We estimate that we have no significant residual value related to our intangible assets. (1,087) Essential to this is our commitment to continually exercise our growth mindset and confront our fixed mindset with humility, curiosity, compassion, and the recognition that, while none of us will ever be perfect, we can always be better than we are today. To sign up for this free service, visit the Annual Report site on the Investor Relations website at: http://www.microsoft.com/investor/AnnualReports/default.aspx. And we have nearly 60 million Microsoft 365 consumer subscriptions as we help people create, connect, and share wherever they go. Refer to Note 13 Unearned Revenue for further information, including unearned revenue by segment and changes in unearned revenue during the period. Building and running cloud-based services in ways that unleash new experiences and opportunities for businesses and individuals. Diluted EPS is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. All deferred income taxes are classified as long-term in our consolidated balance sheets. 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. The above table excludes shares repurchased to settle employee tax withholding related to the vesting of stock awards of $4.7 billion, $4.4 billion, and $3.3 billion for fiscal years 2022, 2021, and 2020, respectively. The critical audit matters communicated below are matters arising from the current-period audit of the financial statements that were communicated or required to be communicated to the audit committee and that (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. To help address this, weve committed to skill and recruit 250,000 people into the US cybersecurity workforce by 2025especially those underrepresented in the field. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. The acquisition has been approved by Activision Blizzards shareholders, and we expect it to close in fiscal year 2023, subject to the satisfaction of certain regulatory approvals and other customary closing conditions. CALs provide access rights to certain server products, including SQL Server and Windows Server, and revenue is reported along with the associated server product. Cisco Systems is using its position in enterprise communications equipment to grow its unified communications business. They have got to where they are today thanks to them and the hard work of those people who have shown them where they can improve. Research and development expenses also include third-party development and programming costs, localization costs incurred to translate software for international markets, and the amortization of purchased software code and services content. 01/13 Barron's 2022 Barron's Midyear Roundtable Report Card 01/13 Barron's The Age of Free Money Is Over. 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. And were helping an additional 24 countries with substantial cybersecurity workforce shortages close their gaps too. Our Dynamics business solutions are also licensed to enterprises through a global network of channel partners providing vertical solutions and specialized services. We believe these non-GAAP measures aid investors by providing additional insight into our operational performance and help clarify trends affecting our business. Employees may purchase shares having a value not exceeding 15% of their gross compensation during an offering period. Additional information on our operating segments and geographic and product information is contained in Note 19 Segment Information and Geographic Data of the Notes to Financial Statements in our fiscal year 2022 Form 10-K. Our reportable segments are described below. Generally, we also create product documentation internally. (83) Zara has got only 4.4% of its stores comprising of 44 retail stores in the US out of 2270 total retail stores. Super Responsive Supply Chain: The Case of Spanish Fast Fashion Retailer Inditex-Zara. Zara annual report 2017 pdf 2017 Annual School Report Marrara Christian College 4 May 2018 Principal's Message Marrara Christian College is a special place to live, learn and grow. The Company engaged Deloitte & Touche LLP, an independent registered public accounting firm, to audit and render an opinion on the consolidated financial statements and internal control over financial reporting in accordance with the standards of the Public Company Accounting Oversight Board (United States). The consolidated (393) (27) This year, we responded to six humanitarian emergencies in five countries through donations, technology, services, and employee giving. Xbox Cloud Gaming utilizes Microsofts Azure cloud technology to allow direct and on-demand streaming of games to PCs, consoles, and mobile devices, enabling gamers to take their favorite games with them and play on the device most convenient to them. And the Microsoft Cloud surpassed $100 billion in annualized revenue for the first time. Build the Intelligent Cloud and Intelligent Edge Platform. Sales and marketing expenses include payroll, employee benefits, stock-based compensation expense, and other headcount-related expenses associated with sales and marketing personnel, and the costs of advertising, promotions, trade shows, seminars, and other programs. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Economic Conditions, Challenges, and Risks. We allocate goodwill to reporting units based on the reporting unit expected to benefit from the business combination. Our ongoing survey data shows employees value the flexibility related to work location, work site, and work hours, and while many have begun returning to worksites as conditions have permitted, they also continue to adjust hours and/or spend some of workweeks working at home, another site, or remotely. The fair value of each reporting unit is estimated primarily through the use of a discounted cash flow methodology. Over the past four years, weve sent over 67,000 nation-state-related threat notifications to customers to help them protect themselves from digital threats. Excluding the impact of the change in accounting estimate, Microsoft Cloud gross margin percentage increased 3 points driven by improvement across our cloud services, offset in part by sales mix shift to Azure and other cloud services. Talent Solutions also includes Learning Solutions, which help businesses close critical skills gaps in times where companies are having to do more with existing talent. We then open the study of Inditex by describing the network of shops and manufacturing, presenting the principles of the logistical model, and providing details of the procedures applied for the functional and geographical integration of the chain of production of Zara, the best known of the company's 11 brands. We have not received a proposed assessment for the unresolved key transfer pricing issues and do not expect a final resolution of these issues in the next 12 months. For derivative instruments designated as fair value hedges, gains and losses are recognized in other income (expense), net with offsetting gains and losses on the hedged items. This pricing methodology applies to our Level 2 investments, such as commercial paper, certificates of deposit, U.S. agency securities, foreign government bonds, mortgage- and asset-backed securities, corporate notes and bonds, and municipal securities. We are accelerating progress toward a more sustainable future by reducing our environmental footprint, advancing research, helping our customers build sustainable solutions, and advocating for policies that benefit the environment. We tested the effectiveness of controls related to the identification of distinct performance obligations, the determination of the timing of revenue recognition, and the estimation of variable consideration. Fiscal Year 2018 Annual Report. using the equity Under the Executive Incentive Plan, the Compensation Committee approves stock awards to executive officers and certain senior executives. 898 east street south suffield, ct. We tested the mathematical accuracy of management's calculations of revenue and the associated timing of revenue recognized in the financial statements. To drive positive impact and growth with technology, people need to be able to trust the technologies they use and the companies behind them. Foreign currency risks related to certain non-U.S. dollar-denominated investments are hedged using foreign exchange forward contracts that are designated as fair value hedging instruments. Refer to the Non-GAAP Financial Measures section below for a reconciliation of our financial results reported in accordance with GAAP to non-GAAP financial results. 13 Management conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. the year then ended. A portion of amortization and depreciation is included with various other costs in an overhead allocation to each segment. We offer options for organizations that want to purchase our cloud services, on-premises software, and SA. The decrease in our effective tax rate for fiscal year 2022 compared to fiscal year 2021 was primarily due to a $3.3 billion net income tax benefit in the first quarter of fiscal year 2022 related to the transfer of intangible properties, offset in part by changes in the mix of our income before income taxes between the U.S. and foreign countries, as well as tax benefits in the prior year from the India Supreme Court decision on withholding taxes, an agreement between the U.S. and India tax authorities related to transfer pricing, and final Tax Cuts and Jobs Act (TCJA) regulations. We offer integrated, end-to-end capabilities to protect people and organizations. Our commercial business primarily consists of Server products and cloud services, Office Commercial, Windows Commercial, the commercial portion of LinkedIn, Enterprise Services, and Dynamics. For these components, we have limited near-term flexibility to use other manufacturers if a current vendor becomes unavailable or is unable to meet our requirements. We released our Responsible AI Standard, which outlines 17 goals aligned to our six AI principles and includes tools and practices to support them. As we make meaningful progress, we continue our commitment to meet the increasing expectations for driving innovation, welcoming diverse perspectives, and leading global change. We have operations centers that support operations in their regions, including customer contract and order processing, credit and collections, information processing, and vendor management and logistics. Our exclusive game content is created through Xbox Game Studios, a collection of first-party studios creating iconic and differentiated gaming experiences. July 28, 2022. Information on our business strategies, financial results, and metrics for investors. Chairman and Chief Executive Officer, Amy E. Hood Microsoft is innovating and expanding our entire portfolio to help people and organizations overcome todays challenges and emerge stronger. And, through our AI for Humanitarian Action initiative, were helping organizations harness the power of AI to improve their disaster preparedness, response, and recovery. 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. LinkedIn revenue increased $3.5 billion or 34% driven by a strong job market in our Talent Solutions business and advertising demand in our Marketing Solutions business. Speeches, and SA Studios, a collection of first-party Studios creating iconic and differentiated gaming.... Nuance is reported as part of our Intelligent cloud segment in our consolidated balance sheets will need to infuse into! 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