Microsoft 2014 Annual Report Download - page 60

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59
The following table reconciles the total Net Fair Value of assets above to the balance sheet presentation of these same
assets in Note 4 – Investments.
(In millions)
June 30, 2014 2013
Net fair value of assets measured at fair value on a recurring basis $ 92,164 $ 84,468
Cash 4,980 1,967
Common and preferred stock measured at fair value on a nonrecurring basis 520
395
Other investments measured at fair value on a nonrecurring basis 1,150 1,256
Less derivative net assets classified as other current assets (38) (213)
Other (6) (7)
Recorded basis of investment components (a) $ 98,770 $ 87,866
(a) Excludes held-to-maturity investments recorded at amortized cost and measured at fair value on a nonrecurring
basis.
Financial Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
During fiscal year 2014 and 2013, we did not record any material other-than-temporary impairments on financial assets
required to be measured at fair value on a nonrecurring basis.
NOTE 7 — INVENTORIES
The components of inventories were as follows:
(In millions)
June 30, 2014 2013
Raw materials $ 944 $ 328
Work in process 266 201
Finished goods 1,450 1,409
Total $ 2,660 $ 1,938
NOTE 8 — PROPERTY AND EQUIPMENT
The components of property and equipment were as follows:
(In millions)
June 30, 2014 2013
Land $ 541 $ 525
Buildings and improvements 8,867 7,326
Leasehold improvements 3,560 2,946
Computer equipment and software 11,430 9,242
Furniture and equipment 3,406 2,465
Total, at cost 27,804 22,504
Accumulated depreciation (14,793) (12,513)
Total, net $ 13,011 $ 9,991
During fiscal years 2014, 2013, and 2012, depreciation expense was $3.4 billion, $2.6 billion, and $2.2 billion,
respectively.