Microsoft 2003 Annual Report Download - page 40

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Part II, Item 8
MSFT 2003 FORM 10-K
27 /
Of the $9.02 billion of unearned revenue at June 30, 2003, $2.65 billion is expected to be recognized in the first quarter of fiscal 2004, $2.05 billion in the
second quarter of fiscal 2004, $1.53 billion in the third quarter of fiscal 2004, $1.00 billion in the fourth quarter of fiscal 2004, and $1.79 billion thereafter.
Note 5—Cash and Short-Term Investments
(In millions) Cost
Basis Unrealized
Gains Unrealized
Losses Recorded
Basis
June 30, 2002
Cash and equivalents:
Cash $ 1,114 $ –
$ – $ 1,114
Commercial paper 260 –
– 260
Certificates of deposit 31 –
– 31
Money market mutual funds 714 –
– 714
Corporate notes and bonds 560 –
– 560
Municipal securities 337 –
– 337
Cash and equivalents 3,016 –
– 3,016
Short-term investments:
Commercial paper 552 –
— 552
U.S. government and agency securities 8,745 91
(12) 8,824
Corporate notes and bonds 14,577 255
(241) 14,591
Mortgage-backed securities 6,226 23
(1) 6,248
Municipal securities 4,462 86
– 4,548
Certificates of deposit 873 –
– 873
Short-term investments 35,435 455
(254) 35,636
Cash and short-term investments $ 38,451 $ 455
$ (254) $ 38,652
(In millions) Cost
Basis Unrealized
Gains Unrealized
Losses Recorded
Basis
June 30, 2003
Cash and equivalents:
Cash $ 1,308 $
–
$
–
$ 1,308
Commercial paper 774
–
–
774
U.S. government and agency securities 1,889
–
–
1,889
Certificates of deposit 28
–
–
28
Money market mutual funds 1,263
–
–
1,263
Corporate notes and bonds 744 95 (11) 828
Municipal securities 348
–
–
348
Cash and equivalents 6,354 95 (11) 6,438
Short-term investments:
Commercial paper 100
–
–
100
U.S. government and agency securities 5,316 126 (28) 5,414
Foreign government bonds 5,364 79 (16) 5,427
Corporate notes and bonds 15,440 735 (86) 16,089
Mortgage-backed securities 6,257 65 (3) 6,319
Municipal securities 8,733 265 (6) 8,992
Certificates of deposit 269
–
–
269
Short-term investments 41,479 1,270 (139) 42,610
Cash and short-term investments $ 47,833 $ 1,365 $ (150) $ 49,048
Realized gains and (losses) from cash and short-term investments (excluding impairments) were $541 million and $(369) million in 2001, $816 million and $(558)
million in 2002 and $1.42 billion and $(957) million in 2003.
Note 6—Inventories
(In millions)
June 30 2002 2003
Finished goods $ 505 $ 393
Raw materials and work in process 168 247
Inventories $ 673 $ 640