Tested managements identification and treatment of contract terms. The ten-month claims period commenced on November 23, 2020 and will close on September 23, 2021. Our server products are designed to make IT professionals, developers, and their systems more productive and efficient. Executive Vice President, Human Resources. The following table outlines maturities of our long-term debt, including the current portion, as of June 30, 2021: On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was enacted into law, which significantly changed existing U.S. tax law and included numerous provisions that affect our business. Our cloud business benefits from three economies of scale: datacenters that deploy computational resources at significantly lower cost per unit than smaller ones; datacenters that coordinate and aggregate diverse customer, geographic, and application demand patterns, improving the utilization of computing, storage, and network resources; and multi-tenancy locations that lower application maintenance labor costs. We must also protect the institutions and processes of democracy. We distribute our devices through third-party retailers. To ensure our AI technologies are used responsibly and to avoid unintended consequences, we take a principled approach built on fairness, reliability and safety, privacy and security, inclusiveness, transparency, and accountability. $ 42,485. Net income fell 12% to . And every day this past year, I have had the privilege to see it in action, as customers of every size, in every industry, in every part of the world use our platforms and tools to help address their own challenges and opportunities as well as those of their communities and society at-large. It drives our passion to obsess about our customers, and to learn about and from them. Dilutive potential common shares include outstanding stock options and stock awards. GO RESET FILTER. That would be the fastest pace for either metric in at least six years. 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. This is why we introduced Microsoft Viva, which brings the information, resources, and support employees need to stay connected to each other and their companys mission directly into the flow of work. Our principal audit procedures to evaluate managements estimates of uncertain tax positions related to unresolved transfer pricing issues included the following: /s/DELOITTE& TOUCHE LLP The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Quarterly smartphone market share worldwide by vendor 2009-2022, Apple iPhone unit sales worldwide 2007-2018, by quarter, Global market share held by smartphone operating systems 2009-2018, by quarter, Virtual reality (VR) - statistics & facts, Research expert covering the consumer electronics industry, Profit from additional features with an Employee Account. Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases. Certain acquired net operating loss carryforwards are subject to an annual limitation but are expected to be realized with the exception of those which have a valuation allowance. We have served as the Companys auditor since 1983. Contact Computershare directly to find out more about these services and programs at 800-285-7772, option 1, or visit online at: https://www.computershare.com/Microsoft, You can e-mail the transfer agent at: web.queries@computershare.com. Surface revenue increased $302 million or 5%. In December 2019, the FASB issued a new standard to simplify the accounting for income taxes. 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. The following Managements Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is intended to help the reader understand the results of operations and financial condition of Microsoft Corporation. We have audited the internal control over financial reporting of Microsoft Corporation and subsidiaries (the Company) 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 (COSO). Xbox Cloud Gaming is now available on PCs, as well as phones and tablets, and later this year will come to the console. The gamer remains at the heart of the Xbox ecosystem. We have more than doubled our percentage share of transaction volume 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. For multi-year agreements, we generally invoice customers annually at the beginning of each annual coverage period. In July 2020, we completed an assessment of the useful lives of our server and network equipment and determined we should increase the estimated useful life of server equipment from three years to four years and increase the estimated useful life of network equipment from two years to four years. 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. 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. 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. We evaluated the reasonableness of managements estimates by considering how tax law, including statutes, regulations and case law, impacted managements judgments. Our innovation helps every developer be an AI developer, with approachable new tools from Azure Machine Learning Studio for creating simple machine learning models, to the powerful Azure Machine Learning Workbench for the most advanced AI modeling and data science. In, Microsoft. We support the fundamental rights of all people. In fiscal years 2019, our foreign regional operating centers in Ireland, Singapore, and Puerto Rico, which are taxed at rates lower than the U.S. rate, generated 82% of our foreign income before tax, respectively. Through our Democracy Forward Program, were working across sectors to safeguard electoral processes and defend against disinformation. 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. We have several partnerships with other companies, including Verizon Media Group, through which we provide and monetize search queries. 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. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services, not to receive financing from our customers or to provide customers with financing. We are committed to playing our part to help accelerate the worlds transition to a more economically and environmentally sustainable future for us all. In addition, all employees complete skills training based on the profession they are in each year. We assumed responsibility for these claims in our agreement to acquire Nokias Devices and Services business and have been substituted for the Nokia defendants. 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