We have over 27,000 people managers, all of whom must complete between 20-33 hours of required manager capability and excellence training and are assigned ongoing required training each year. Select: 1 Direct Material Expense Direct Labor Expense Inventory Carry Expense Depreciation Expense, CampXM questions 1. In order of value, with most valuable assets first. The Surface family includes Surface Laptop Studio, Surface Laptop 4, Surface Laptop Go 2, Surface Laptop Pro 8, Surface Pro X, Surface Go 3, Surface Studio 2, and Surface Duo 2. We advocate for strong privacy laws that require companies, including ours, to be accountable and responsible in their collection and use of personal data. Azures competitive advantage includes enabling a hybrid cloud, allowing deployment of existing datacenters with our public cloud into a single, cohesive infrastructure, and the ability to run at a scale that meets the needs of businesses of all sizes and complexities. 13 July 2021. In response to the Great Reshuffle, in fiscal year 2022 we announced a sizable investment in annual merit and annual stock award opportunity for all employees below senior executive levels. This is the core thesis for our being as a company, but its not enough. Click the button below to request a report when hardcopies become available. Search and news advertising revenue increased $2.3 billion or 25%. This change in accounting estimate will be effective beginning fiscal year 2023. We offer integrated, end-to-end capabilities to protect people and organizations. 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. 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. Business, and Chief Marketing Officer, Christopher D. Young Zara is one of the largest international fashion companies belonging to Inditex, one of the world"s largest distribution groups. In addition to computing device market volume, Windows OEM revenue is impacted by: Windows Commercial revenue, which includes volume licensing of the Windows operating system and Windows cloud services such as Microsoft Defender for Endpoint, is affected mainly by the demand from commercial customers for volume licensing and Software Assurance (SA), as well as advanced security offerings. All repurchases were made using cash resources. Partners license software over a three-year period and are billed monthly based on consumption. This includes all non-exempt and exempt employees and equivalents across the globe including business support professionals and datacenter and retail employees. We continue to invest in high performance and sustainable computing to meet the growing demand for fast access to Microsoft services provided by our network of cloud computing infrastructure and datacenters. We would like to show you a description here but the site won't allow us. These agreements are designed for small and medium organizations that want to license cloud services and on-premises software over a three-year period. Operating expenses increased $6.3 billion or 14% driven by investments in cloud engineering, LinkedIn, Gaming, and commercial sales. When it comes to AI, were seeing a paradigm shift as the worlds large AI models become platforms themselves. Microsoft is a technology company whose mission is to empower every person and every organization on the planet to achieve more. Managers holding conversations about employees career and development plans, coaching on career opportunities, and programs like mentoring and sponsorship. Service and other revenue also includes sales from online advertising and LinkedIn. We released our Responsible AI Standard, which outlines 17 goals aligned to our six AI principles and includes tools and practices to support them. Google provides a hosted messaging and productivity suite. Server products revenue increased 5% driven by hybrid solutions, including Windows Server and SQL Server running in multi-cloud environments. These levels are: We measure equity investments without readily determinable fair values on a nonrecurring basis. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation. Microsoft is a technology company whose mission is to empower every person and every organization on the planet to achieve more. reserves Reserves of Windows OEM revenue increased 11% driven by continued strength in the commercial PC market, which has higher revenue per license. Despite some negative headwinds, we met or exceeded our nancial performance targets, including delivering nearly 10 percent adjusted operating income growth and 11 percent adjusted earnings per share growth, and . Being a global-scale cloud, Azure uniquely offers hybrid consistency, developer productivity, AI capabilities, and trusted security and compliance. Our skills initiative brings together learning resources, certification opportunities, and job-seeker tools from LinkedIn, GitHub, and Microsoft Learn, and is built on data insights drawn from LinkedIns Economic Graph. Chester Corp. ended the year carrying $11,529,000 worth of inventory. Net Recognized Gains (Losses) on Investments. We use derivative instruments to manage risks related to foreign currencies, interest rates, equity prices, and credit; to enhance investment returns; and to facilitate portfolio diversification. Gaming revenue increased $860 million or 6% on a strong prior year comparable that benefited from Xbox Series X|S launches and stay-at-home scenarios, driven by growth in Xbox hardware and Xbox content and services. We introduced a Hybrid Workplace Flexibility Guide to better support managers and employees as they adapt to new ways of working that shift paradigms, embrace flexibility, promote inclusion, and drive innovation. We have committed $8.5 billion, primarily related to datacenters, for the construction of new buildings, building improvements, and leasehold improvements as of June 30, 2022. Enter the email address you signed up with and we'll email you a reset link. accounted for November 25, 2022 LVMH strengthens its position in jewelry with the acquisition of Pedemonte November 15, 2022 LVMH Share buyback program 2022 Q3 Revenue OCTOBER 2022 - PDF - 4 Mo Download October 11, 2022 Growth continues at the same pace 2021 environmental indicators AUGUST 2022 - PDF - 2 Mo Download LVMH carbon footprint in 2021 We recognize that progress wont always be linear, and the rate at which we can implement emissions reductions is dependent on many factors that can fluctuate over time. Dynamics competes with cloud-based and on-premises business solution providers such as Oracle, Salesforce, and SAP. Microsoft Experience Centers are designed to facilitate deeper engagement with our partners and customers across industries. Among Microsoft Corporation, the S&P 500 Index and the NASDAQ Computer Index. Microsoft Cloud gross margin percentage decreased slightly to 70%. We believe that our audits provide a reasonable basis for our opinion. Inditex-Zara's super-responsive supply chain reduces 'bullwhip effect', order-to-delivery lead time to stores, ensures lean inventory and high level of responsiveness to adapt and deliver products to stores with latest fashion trends and customer feedbacks at a rapid speed. Customers are looking to unlock value while simplifying security and management. Board of Directors on 15 March 2022 and will be submitted for approval at the corresponding Annual Under the terms of the ESPP that were approved in 2012, the plan was set to terminate on December 31, 2022. Throughout the fiscal year, we collect over 75,000 Daily Pulse employee survey responses. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. 1 (71) This year, we introduced GitHub Copilot, a first-of-its-kind AI pair programmer, to help developers write better code faster. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE. These operating and finance leases will commence between fiscal year 2023 and fiscal year 2028 with lease terms of 1 year to 18 years. Operating income increased $5.3 billion or 22%. Technology is a deflationary force in an inflationary economy. We hire a mix of university and industry talent worldwide. In the next phase of innovation, artificial intelligence (AI) capabilities are rapidly advancing, fueled by data and knowledge of the world. Inditex has reached its limit for free report views. It sustains our everyday practice of customer obsession. And through the Microsoft privacy dashboard, millions of people each year can make meaningful choices about how their data is used. The investments we are making in infrastructure and devices will continue to increase our operating costs and may decrease our operating margins. Certain forecasted transactions, assets, and liabilities are exposed to foreign currency risk. 20 kb. Clayton, Dubilier & Rice, LLC, John W. Stanton 1,4 Cost includes materials, labor, and manufacturing overhead related to the purchase and production of inventories. Net recognized gains (losses) on debt investments were as follows: Net recognized gains (losses) on equity investments were as follows: The components of investments were as follows: Equity investments presented as Other in the tables above include investments without readily determinable fair values measured using the equity method or measured at cost with adjustments for observable changes in price or impairments, and investments measured at fair value using net asset value as a practical expedient which are not categorized in the fair value hierarchy. 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 Every organization is looking to reconnect and reengage the workforce at home, in the office, and everywhere in between. Our EEO-1 report (equal employment opportunity). Cisco Systems is using its position in enterprise communications equipment to grow its unified communications business. 01/13 Barron's 2022 Barron's Midyear Roundtable Report Card 01/13 Barron's The Age of Free Money Is Over. We evaluated the reasonableness of management's estimates by considering how tax law, including statutes, regulations and case law, impacted management's judgments. A companys internal control over financial reporting includes those policies and procedures that (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 necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements. In these instances, we may use information such as the size of the customer and geographic region in determining the SSP. Satya Nadella Since 2017, weve helped more than 50 million people in unserved rural communities globally gain access to affordable broadband coverage. Azure Synapse brings together data integration, enterprise data warehousing, and big data analytics in a comprehensive solution. In addition, all employees complete skills training based on the profession they are in each year. ESAs are also typically authorized as LSPs and operate as resellers for our other volume licensing programs. We invite you to submit any questions via the proxy voting site at www.proxyvote.com. And were innovating to make it even easier for teams of professional and citizen developers to automate workflows, create apps, build virtual agents, and analyze data. Virtual Shareholder Meeting: www.virtualshareholdermeeting.com/MSFT22. We have invested significantly in holistic wellbeing, and offer a differentiated benefits package which includes many physical, emotional, and financial wellness programs including counseling through the Microsoft CARES Employee Assistance Program, mental wellbeing support, flexible fitness benefits, savings and investment tools, adoption assistance, and back-up care for children and elders. General and administrative expenses include payroll, employee benefits, stock-based compensation expense, and other headcount-related expenses associated with finance, legal, facilities, certain human resources and other administrative personnel, certain taxes, and legal and other administrative fees. Competitors. The service gets you the information you need faster and also gives you the power and convenience of online proxy voting. View the 2022 Annual Report Highlights from USCIRF's 2022 Annual Report Numbers-at-a-Glance 15 countries recommended for "country of particular concern" (CPC) designation 1 new country recommended for CPC designation 12 countries recommended for the State Department's "Special Watch List" (SWL) 1 country added to USCIRF's SWL recommendations Cost includes materials, labor, and manufacturing overhead related to the purchase and production of inventories. Shares repurchased during the second quarter of fiscal year 2022 were under the share repurchase programs approved on both September 14, 2021 and September 18, 2019. Finally, our Occupational Health and Safety program helps ensure employees can stay safe while they are working. From smart factories, to smart buildings, to smart cities, were helping organizations use Azure IoT, Azure Digital Twins, and Microsoft Mesh to digitize people, places, and things, in order to visualize, simulate, and analyze any business process. Once an investment is determined to be impaired, an impairment charge is recorded in other income (expense), net. Office Consumer Services revenue is mainly affected by the demand for communication and storage through Skype, Outlook.com, and OneDrive, which is largely driven by subscriptions, advertising, and the sale of minutes. Changes to our estimated variable consideration were not material for the periods presented. Trends run their course with lightning speed, with today's latest styles swiftly trumping yesterday's, which have already been consigned to the trash bin. Increasing representation and strengthening inclusion: build on our momentum, adding a $150 million investment to strengthen inclusion and double the number of Black, African American, Hispanic, and Latinx leaders in the United States by 2025. 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 also joined with leading organizations to launch the Carbon Call an initiative to mobilize collective action to solve carbon emissions and removal accounting challenges for a net zero future. Given our focus on understanding core company beliefs and compliance topics, all employees complete required learning programs like Standards of Business Conduct, Privacy, Unconscious Bias, and preventing harassment courses. 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. 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. Metrics related to our More Personal Computing segment assess the performance of key lines of business within this segment. We strive to create local opportunity, growth, and impact in every country around the world. We are committed to leveraging our resources to help accelerate diversity and inclusion across our ecosystem and to hold ourselves accountable to accelerate change for Microsoft, and beyond. Net realizable value is the estimated selling price less estimated costs of completion, disposal, and transportation. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. The largest component of the OEM business is the Windows operating system pre-installed on devices. While fiscal year 2021 presented us with some new learnings, we also made some great progress. 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. Intercompany transactions and balances have been eliminated. Annual Financial Report: PDF [631.6 KB/ 94 pages] For the Period Ended March 2021. In terms of formal on-line learning solutions, in fiscal year 2022 our employees completed over 4.7 million courses, averaging over 14 hours per employee. 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. Full Document. 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. Developed By Yadonia Group The components of the deferred income tax assets and liabilities were as follows: 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 paid or recovered. Research and development expenses include payroll, employee benefits, stock-based compensation expense, and other headcount-related expenses associated with product development. The Microsoft Cloud is the most comprehensive and trusted cloud, providing the best integration across the technology stack while offering openness, improving time to value, reducing costs, and increasing agility. The invasion of Ukraine by Russia has upended . The acquisition will accelerate the growth in our gaming business across mobile, PC, console, and cloud and will provide building blocks for the metaverse. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. We are committed to earning trustboth trust in business model alignment with our customers and partners, and trust in technology, spanning privacy, security, digital safety, the responsible use of AI, and transparency. Shares repurchased during the first quarter of fiscal year 2022, fiscal year 2021, and the fourth quarter of fiscal year 2020 were under the share repurchase program approved on September 18, 2019. With Power Platform, we are helping domain experts rapidly drive productivity gains when its never been more important. We issue new shares of Microsoft common stock to satisfy vesting of awards granted under our stock plans. 2021 were prepared by the The fair value of stock awards vested was $14.1 billion, $13.4 billion, and $10.1 billion, for fiscal years 2022, 2021, and 2020, respectively. All deferred income taxes are classified as long-term in our consolidated balance sheets. The components of intangible assets, all of which are finite-lived, were as follows: No material impairments of intangible assets were identified during fiscal years 2022, 2021, or 2020. Date: Tuesday, December 13, 2022 Compensation expense for the employee stock purchase plan (ESPP) is measured as the discount the employee is entitled to upon purchase and is recognized in the period of purchase. Today, through our Search, News, Mapping, and Browse services, Microsoft delivers unique trust, privacy, and safety features. The objectives of this study are to analyze the impact of purchasing and supply chain management strategies in retail industry and identify the way of success of AZEL FRANCE Retailer Company of ZARA clothing in Bosnia and Herzegovina from supply chain perspective management by conducting a survey study. As the worlds largest software company, this places us at a historic intersection of opportunity and responsibility to the world around us. Chairman and Chief Executive Officer, Amy E. Hood Transactions, assets, and trusted security and compliance revenue increased 5 % driven by hybrid solutions including. 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