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NOTES TO FINANCIAL STATEMENTS
NOTE 21 SUBSEQUENT EVENT
On July 11, 2002, Microsoft acquired Navision a/s as a result of the successful close of a tender offer. Microsoft purchased Navision’s shares for approximately $1.45 billion in stock and cash. Navision is a provider of integrated business software solutions for small and medium-sized companies. The purchase price allocation is currently being developed for this acquisition.
QUARTERLY INFORMATION
| In millions, except per share amounts (unaudited) |
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| Quarter Ended |
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Sept. 30 |
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Dec. 31 |
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Mar. 31 |
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June 30 |
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Year |
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| Fiscal 2000 |
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| Revenue |
$ |
5,384 |
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$ |
6,112 |
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$ |
5,656 |
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|
$ |
5,804 |
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$ |
22,956 |
| Gross profit |
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4,672 |
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|
5,356 |
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|
4,904 |
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|
|
5,022 |
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|
|
19,954 |
| Net income |
|
2,191 |
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|
2,436 |
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|
2,385 |
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|
2,409 |
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|
9,421 |
| Basic earnings per share |
|
0.43 |
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|
0.47 |
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|
0.46 |
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|
0.46 |
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|
1.81 |
| Diluted earnings per share |
|
0.40 |
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|
|
0.44 |
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|
0.43 |
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|
|
0.44 |
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|
1.70 |
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| Fiscal 2001 |
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| Revenue |
$ |
5,766 |
|
|
$ |
6,550 |
|
$ |
6,403 |
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|
$ |
6,577 |
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|
$ |
25,296 |
| Gross profit |
|
4,941 |
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|
|
5,686 |
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|
5,504 |
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|
|
5,710 |
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|
|
21,841 |
| Net income |
|
2,206 |
(1) |
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|
2,624 |
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|
2,451 |
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|
|
65 |
(2) |
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|
7,346 |
| Basic earnings per share |
|
0.42 |
(1) |
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|
0.49 |
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|
0.46 |
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|
|
0.01 |
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|
1.38 |
| Diluted earnings per share |
|
0.40 |
(1) |
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|
0.47 |
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|
0.44 |
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|
0.01 |
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|
1.32 |
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| Fiscal 2002 |
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| Revenue |
$ |
6,126 |
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|
$ |
7,741 |
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$ |
7,245 |
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|
$ |
7,253 |
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|
$ |
28,365 |
| Gross profit |
|
5,242 |
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|
|
6,197 |
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|
5,850 |
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|
|
5,885 |
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|
|
23,174 |
| Net income |
|
1,283 |
(3) |
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|
2,283 |
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|
2,738 |
(4) |
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|
1,525 |
(5) |
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|
7,829 |
| Basic earnings per share |
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0.24 |
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|
0.42 |
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|
0.51 |
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|
0.28 |
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|
1.45 |
| Diluted earnings per share |
|
0.23 |
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|
|
0.41 |
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|
0.49 |
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|
|
0.28 |
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|
1.41 |
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| (1) |
Includes an unfavorable cumulative effect of accounting change of $375 million or $0.07 per basic share and $0.06 per diluted share, reflecting the adoption of SFAS No. 133. |
| (2) |
Includes $3.92 billion (pre-tax) in impairments of certain investments. |
| (3) |
Includes $1.82 billion (pre-tax) in impairments of certain investments. |
| (4) |
Includes $1.25 billion (pre-tax) gain on the sale of Expedia, Inc. and $1.19 billion (pre-tax) in impairments of certain investments. |
| (5) |
Includes $1.19 billion (pre-tax) in impairments of certain investments. |
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