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10-Q Filing

NETAPP, INC. CIK: 1002047 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001564590-19-032574
Period End Date 20190731
Filing Date 20190819
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance ntap-10q_20190726_htm.xml
Balance Sheet 62 line items
Line Item Tag Value Unit Period
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 240.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 239.00M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 240.00M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 239.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $2.97B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $2.33B USD Point-in-time
Short-term investments ShortTermInvestments $1.57B USD Point-in-time
Short-term investments ShortTermInvestments $565.00M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $542.00M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $1.22B USD Point-in-time
Inventories InventoryNet $131.00M USD Point-in-time
Inventories InventoryNet $116.00M USD Point-in-time
Other current assets OtherAssetsCurrent $326.00M USD Point-in-time
Other current assets OtherAssetsCurrent $364.00M USD Point-in-time
Total current assets AssetsCurrent $5.61B USD Point-in-time
Total current assets AssetsCurrent $4.52B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $754.00M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $759.00M USD Point-in-time
Goodwill Goodwill $1.74B USD Point-in-time
Goodwill Goodwill $1.77B USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $47.00M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $62.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $590.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $709.00M USD Point-in-time
Total assets Assets $7.81B USD Point-in-time
Total assets Assets $8.74B USD Point-in-time
Accounts payable AccountsPayableCurrent $348.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $542.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $633.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $851.00M USD Point-in-time
Commercial paper notes CommercialPaper $249.00M USD Point-in-time
Commercial paper notes CommercialPaper $30.00M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $400.00M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $400.00M USD Point-in-time
Short-term deferred revenue and financed unearned services revenue ContractWithCustomerLiabilityCurrent $1.76B USD Point-in-time
Short-term deferred revenue and financed unearned services revenue ContractWithCustomerLiabilityCurrent $1.82B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.17B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.87B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.15B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.14B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $797.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $882.00M USD Point-in-time
Long-term deferred revenue and financed unearned services revenue ContractWithCustomerLiabilityNoncurrent $1.84B USD Point-in-time
Long-term deferred revenue and financed unearned services revenue ContractWithCustomerLiabilityNoncurrent $1.75B USD Point-in-time
Total liabilities Liabilities $6.95B USD Point-in-time
Total liabilities Liabilities $7.65B USD Point-in-time
Commitments and contingencies (Note 17) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 17) CommitmentsAndContingencies - USD Point-in-time
Common stock and additional paid-in capital, $0.001 par value; 239 and 240 shares issued and outstanding as of July 26, 2019 and April 26, 2019, respectively CommonStocksIncludingAdditionalPaidInCapital $902.00M USD Point-in-time
Common stock and additional paid-in capital, $0.001 par value; 239 and 240 shares issued and outstanding as of July 26, 2019 and April 26, 2019, respectively CommonStocksIncludingAdditionalPaidInCapital $1.13B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit - USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit - USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-43.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-39.00M USD Point-in-time
Total stockholders' equity StockholdersEquity $1.92B USD Point-in-time
Total stockholders' equity StockholdersEquity $863.00M USD Point-in-time
Total stockholders' equity StockholdersEquity $1.09B USD Point-in-time
Total stockholders' equity StockholdersEquity $2.28B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $7.81B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $8.74B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $1.24B USD 1 Quarter
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $1.47B USD 1 Quarter
Total cost of revenues CostOfGoodsAndServicesSold $420.00M USD 1 Quarter
Total cost of revenues CostOfGoodsAndServicesSold $511.00M USD 1 Quarter
Gross profit GrossProfit $816.00M USD 1 Quarter
Gross profit GrossProfit $963.00M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $409.00M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $405.00M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $215.00M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $208.00M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $73.00M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $71.00M USD 1 Quarter
Restructuring charges RestructuringCharges $21.00M USD 1 Quarter
Restructuring charges RestructuringCharges $19.00M USD 1 Quarter
Total operating expenses OperatingExpenses $712.00M USD 1 Quarter
Total operating expenses OperatingExpenses $709.00M USD 1 Quarter
Income from operations OperatingIncomeLoss $254.00M USD 1 Quarter
Income from operations OperatingIncomeLoss $104.00M USD 1 Quarter
Other income, net NonoperatingIncomeExpense $18.00M USD 1 Quarter
Other income, net NonoperatingIncomeExpense $15.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $119.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $272.00M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $-11.00M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $16.00M USD 1 Quarter
Net income NetIncomeLoss $103.00M USD 1 Quarter
Net income NetIncomeLoss $283.00M USD 1 Quarter
Basic EarningsPerShareBasic $0.43 USD 1 Quarter
Basic EarningsPerShareBasic $1.08 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.42 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.05 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 262.00M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 239.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 269.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 243.00M shares 1 Quarter
Cash Flow Statement 67 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $103.00M USD 1 Quarter
Net income NetIncomeLoss $283.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $49.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $49.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $40.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $42.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-26.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-7.00M USD 1 Quarter
Other items, net OtherOperatingActivitiesCashFlowStatement $6.00M USD 1 Quarter
Other items, net OtherOperatingActivitiesCashFlowStatement $8.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-423.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-672.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-25.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-15.00M USD 1 Quarter
Other operating assets IncreaseDecreaseInOtherOperatingAssets $-59.00M USD 1 Quarter
Other operating assets IncreaseDecreaseInOtherOperatingAssets $-5.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-177.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-195.00M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-221.00M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-277.00M USD 1 Quarter
Deferred revenue and financed unearned services revenue IncreaseDecreaseInContractWithCustomerLiability $-87.00M USD 1 Quarter
Deferred revenue and financed unearned services revenue IncreaseDecreaseInContractWithCustomerLiability $-154.00M USD 1 Quarter
Long-term taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $5.00M USD 1 Quarter
Long-term taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-3.00M USD 1 Quarter
Other operating liabilities IncreaseDecreaseInOtherOperatingLiabilities - USD 1 Quarter
Other operating liabilities IncreaseDecreaseInOtherOperatingLiabilities $-1.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $326.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $310.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireAvailableForSaleSecurities $19.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireAvailableForSaleSecurities $4.00M USD 1 Quarter
Maturities, sales and collections of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $1.03B USD 1 Quarter
Maturities, sales and collections of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $267.00M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $32.00M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $64.00M USD 1 Quarter
Acquisitions of businesses, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisitions of businesses, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $56.00M USD 1 Quarter
Other investing activities, net PaymentsForProceedsFromOtherInvestingActivities $-2.00M USD 1 Quarter
Other investing activities, net PaymentsForProceedsFromOtherInvestingActivities $1.00M USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $186.00M USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $938.00M USD 1 Quarter
Proceeds from issuance of common stock under employee stock award plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $54.00M USD 1 Quarter
Proceeds from issuance of common stock under employee stock award plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $63.00M USD 1 Quarter
Payments for taxes related to net share settlement of stock awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $84.00M USD 1 Quarter
Payments for taxes related to net share settlement of stock awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $71.00M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $12.00B USD 65 Qtrs
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $250.00M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $500.00M USD 1 Quarter
Repayments of commercial paper notes, net ProceedsFromRepaymentsOfCommercialPaper $-185.00M USD 1 Quarter
Repayments of commercial paper notes, net ProceedsFromRepaymentsOfCommercialPaper $-219.00M USD 1 Quarter
Dividends paid PaymentsOfDividends $105.00M USD 1 Quarter
Dividends paid PaymentsOfDividends $115.00M USD 1 Quarter
Other financing activities, net ProceedsFromRepaymentsOfOtherLongTermDebt $-1.00M USD 1 Quarter
Other financing activities, net ProceedsFromRepaymentsOfOtherLongTermDebt $-2.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-812.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-603.00M USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-14.00M USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-3.00M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-314.00M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $642.00M USD 1 Quarter
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.97B USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.95B USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.33B USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.63B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.97B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.95B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.33B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.63B USD Point-in-time
Stockholders Equity 28 line items
Line Item Tag Value Unit Period
Cash dividends declared, per common share CommonStockDividendsPerShareDeclared $0.40 USD 1 Quarter
Cash dividends declared, per common share CommonStockDividendsPerShareDeclared $0.48 USD 1 Quarter
Balances StockholdersEquity $1.92B USD Point-in-time
Balances StockholdersEquity $863.00M USD Point-in-time
Balances StockholdersEquity $1.09B USD Point-in-time
Balances StockholdersEquity $2.28B USD Point-in-time
Balances (in shares) CommonStockSharesOutstanding 240.00M shares Point-in-time
Balances (in shares) CommonStockSharesOutstanding 239.00M shares Point-in-time
Net income NetIncomeLoss $103.00M USD 1 Quarter
Net income NetIncomeLoss $283.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $4.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent - USD 1 Quarter
Issuance of common stock under employee stock award plans, net of taxes StockIssuedDuringPeriodValueShareBasedCompensation $-21.00M USD 1 Quarter
Issuance of common stock under employee stock award plans, net of taxes StockIssuedDuringPeriodValueShareBasedCompensation $-17.00M USD 1 Quarter
Repurchase of common stock StockRepurchasedAndRetiredDuringPeriodValue $250.00M USD 1 Quarter
Repurchase of common stock StockRepurchasedAndRetiredDuringPeriodValue $500.00M USD 1 Quarter
Repurchase of common stock, shares StockRepurchasedAndRetiredDuringPeriodShares 317.00M shares 65 Qtrs
Repurchase of common stock, shares StockRepurchasedAndRetiredDuringPeriodShares 4.00M shares 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $40.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $42.00M USD 1 Quarter
Cash dividends declared ($0.40 and $0.48 per common share) DividendsCommonStockCash $115.00M USD 1 Quarter
Cash dividends declared ($0.40 and $0.48 per common share) DividendsCommonStockCash $105.00M USD 1 Quarter
Balances StockholdersEquity $1.92B USD Point-in-time
Balances StockholdersEquity $863.00M USD Point-in-time
Balances StockholdersEquity $1.09B USD Point-in-time
Balances StockholdersEquity $2.28B USD Point-in-time
Balances (in shares) CommonStockSharesOutstanding 240.00M shares Point-in-time
Balances (in shares) CommonStockSharesOutstanding 239.00M shares Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $103.00M USD 1 Quarter
Net income NetIncomeLoss $283.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax - USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $-1.00M USD 1 Quarter
Unrealized holding gains arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $20.00M USD 1 Quarter
Unrealized holding gains arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax - USD 1 Quarter
Reclassification adjustments for gains included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax - USD 1 Quarter
Reclassification adjustments for gains included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax $14.00M USD 1 Quarter
Unrealized holding losses arising during the period OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax - USD 1 Quarter
Unrealized holding losses arising during the period OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $-1.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $4.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent - USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $283.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $107.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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