Cisco 2011 Annual Report Download - page 137

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(c) Additional Segment Information
The majority of the Company’s assets, excluding cash and cash equivalents and investments, as of July 30, 2011
and July 31, 2010 was attributable to its U.S. operations. The Company’s total cash and cash equivalents and
investments held outside of the United States in various foreign subsidiaries were $39.8 billion and $33.2 billion
as of July 30, 2011 and July 31, 2010, respectively, and the remaining $4.8 billion and $6.7 billion at the
respective year ends was held in the United States. In fiscal 2011, 2010, and 2009, no single customer accounted
for 10% or more of the Company’s net sales.
Property and equipment information is based on the physical location of the assets. The following table presents
property and equipment information for geographic areas (in millions):
July 30, 2011 July 31, 2010 July 25, 2009
Property and equipment, net:
United States ......................... $3,284 $3,283 $3,330
International ......................... 632 658 713
Total ........................... $3,916 $3,941 $4,043
17. Net Income per Share
The following table presents the calculation of basic and diluted net income per share (in millions, except
per-share amounts):
Years Ended July 30, 2011 July 31, 2010 July 25, 2009
Net income .............................. $6,490 $7,767 $6,134
Weighted-average shares—basic ............. 5,529 5,732 5,828
Effect of dilutive potential common shares ..... 34 116 29
Weighted-average shares—diluted ............ 5,563 5,848 5,857
Net income per share—basic ................ $ 1.17 $ 1.36 $ 1.05
Net income per share—diluted ............... $ 1.17 $ 1.33 $ 1.05
Antidilutive employee share-based awards,
excluded .............................. 379 344 977
Employee equity share options, unvested shares, and similar equity instruments granted by the Company are
treated as potential common shares outstanding in computing diluted earnings per share. Diluted shares
outstanding include the dilutive effect of in-the-money options, unvested restricted stock, and restricted stock
units. The dilutive effect of such equity awards is calculated based on the average share price for each fiscal
period using the treasury stock method. Under the treasury stock method, the amount the employee must pay for
exercising stock options, the amount of compensation cost for future service that the Company has not yet
recognized, and the amount of tax benefits that would be recorded in additional paid-in capital when the award
becomes deductible are collectively assumed to be used to repurchase shares.
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