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Microsoft Corporation
Consolidated Statement of Earnings (unaudited)
Year Ended June 30, 2001
(In millions CA $)
| Revenue |
$ 38,450 |
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| Operating expenses: |
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Cost of revenue |
5,252 |
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Research and development |
6,671 |
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Sales and marketing |
7,425 |
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General and administrative |
1,531 |
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Total operating expenses |
20,879 |
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| Operating income |
17,571 |
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| Losses on equity investees and other |
(242 |
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| Investment loss |
(716 |
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| Income before income taxes |
16,613 |
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| Provision for income taxes |
2,361 |
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| Net income |
$ 14,252 |
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| Reconciliation to results presented in accompanying financial statements: |
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| Net income-Canadian GAAP |
$ 14,252 |
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| Acquired in-process technology |
(46 |
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| Visio Pooling |
289 |
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| Effect of FAS 133 |
(190 |
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| Tax benefit of stock options |
(3,140 |
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| Net income-US GAAP |
$ 11,165 |
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Translated at the average exchange rate for the year (US$1 = CA $1.52).
This unaudited Consolidated Profit and Loss Statement has been converted into Canadian currency and adjusted for accounting principles and format that are generally accepted in Canada. This presentation is intended to provide additional information. This presentation differs from and is not in accordance with generally accepted accounting principles in the United States of America. This presentation is not a complete presentation of the Company's financial position and results of operations in accordance with generally accepted accounting principles in Canada. Only material differences between generally accepted accounting principles in Canada and the United States of America were identified and used in the preparation of this Consolidated Profit and Loss Statement.
A complete set of the Company’s primary financial statements prepared in accordance with generally accepted accounting principles in the United States of America, and included in filings with the United States Securities and Exchange Commission, can be found in The Microsoft 2001 Annual Report to Shareholders (including Form 10-K) which is available on this Web site. Copies may also be obtained by writing to the Company.
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