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10-Q Filing

NETAPP, INC. CIK: 1002047 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001564590-20-041759
Period End Date 20200731
Filing Date 20200828
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance ntap-10q_20200731_htm.xml
Balance Sheet 60 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 222.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 219.00M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 219.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $2.66B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $3.63B USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 222.00M shares Point-in-time
Short-term investments ShortTermInvestments $140.00M USD Point-in-time
Short-term investments ShortTermInvestments $224.00M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $604.00M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $973.00M USD Point-in-time
Inventories InventoryNet $136.00M USD Point-in-time
Inventories InventoryNet $145.00M USD Point-in-time
Other current assets OtherAssetsCurrent $304.00M USD Point-in-time
Other current assets OtherAssetsCurrent $274.00M USD Point-in-time
Total current assets AssetsCurrent $4.82B USD Point-in-time
Total current assets AssetsCurrent $4.27B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $737.00M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $727.00M USD Point-in-time
Goodwill Goodwill $2.04B USD Point-in-time
Goodwill Goodwill $1.78B USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $140.00M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $44.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $699.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $684.00M USD Point-in-time
Total assets Assets $8.42B USD Point-in-time
Total assets Assets $7.52B USD Point-in-time
Accounts payable AccountsPayableCurrent $426.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $396.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $774.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $616.00M USD Point-in-time
Commercial paper notes CommercialPaper $522.00M USD Point-in-time
Commercial paper notes CommercialPaper $150.00M USD Point-in-time
Short-term deferred revenue and financed unearned services revenue ContractWithCustomerLiabilityCurrent $1.89B USD Point-in-time
Short-term deferred revenue and financed unearned services revenue ContractWithCustomerLiabilityCurrent $1.81B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.98B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.62B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.15B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.63B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $714.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $720.00M USD Point-in-time
Long-term deferred revenue and financed unearned services revenue ContractWithCustomerLiabilityNoncurrent $1.81B USD Point-in-time
Long-term deferred revenue and financed unearned services revenue ContractWithCustomerLiabilityNoncurrent $1.80B USD Point-in-time
Total liabilities Liabilities $7.28B USD Point-in-time
Total liabilities Liabilities $8.13B USD Point-in-time
Commitments and contingencies (Note 16) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 16) CommitmentsAndContingencies - USD Point-in-time
Common stock and additional paid-in capital, $0.001 par value; 222 and 219 shares issued and outstanding as of July 31, 2020 and April 24, 2020, respectively CommonStocksIncludingAdditionalPaidInCapital $323.00M USD Point-in-time
Common stock and additional paid-in capital, $0.001 par value; 222 and 219 shares issued and outstanding as of July 31, 2020 and April 24, 2020, respectively CommonStocksIncludingAdditionalPaidInCapital $284.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit - USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit - USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-42.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-39.00M USD Point-in-time
Total stockholders' equity StockholdersEquity $863.00M USD Point-in-time
Total stockholders' equity StockholdersEquity $284.00M USD Point-in-time
Total stockholders' equity StockholdersEquity $242.00M USD Point-in-time
Total stockholders' equity StockholdersEquity $1.09B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $8.42B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $7.52B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $1.30B USD 1 Quarter
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $1.24B USD 1 Quarter
Total cost of revenues CostOfGoodsAndServicesSold $420.00M USD 1 Quarter
Total cost of revenues CostOfGoodsAndServicesSold $431.00M USD 1 Quarter
Gross profit GrossProfit $872.00M USD 1 Quarter
Gross profit GrossProfit $816.00M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $429.00M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $405.00M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $233.00M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $215.00M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $71.00M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $61.00M USD 1 Quarter
Restructuring charges RestructuringCharges $21.00M USD 1 Quarter
Restructuring charges RestructuringCharges $5.00M USD 1 Quarter
Acquisition-related expense BusinessCombinationAcquisitionRelatedCosts - USD 1 Quarter
Acquisition-related expense BusinessCombinationAcquisitionRelatedCosts $8.00M USD 1 Quarter
Total operating expenses OperatingExpenses $736.00M USD 1 Quarter
Total operating expenses OperatingExpenses $712.00M USD 1 Quarter
Income from operations OperatingIncomeLoss $136.00M USD 1 Quarter
Income from operations OperatingIncomeLoss $104.00M USD 1 Quarter
Other income (expense), net NonoperatingIncomeExpense $15.00M USD 1 Quarter
Other income (expense), net NonoperatingIncomeExpense $-32.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $104.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $119.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $16.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $27.00M USD 1 Quarter
Net income NetIncomeLoss $77.00M USD 1 Quarter
Net income NetIncomeLoss $103.00M USD 1 Quarter
Basic EarningsPerShareBasic $0.43 USD 1 Quarter
Basic EarningsPerShareBasic $0.35 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.42 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.35 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 239.00M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 221.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 222.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 243.00M shares 1 Quarter
Cash Flow Statement 75 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $77.00M USD 1 Quarter
Net income NetIncomeLoss $103.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $49.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $49.00M USD 1 Quarter
Non-cash operating lease cost NonCashOperatingLeaseCost $13.00M USD 1 Quarter
Non-cash operating lease cost NonCashOperatingLeaseCost $13.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $42.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $54.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit - USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-7.00M USD 1 Quarter
Other items, net OtherOperatingActivitiesCashFlowStatement $-7.00M USD 1 Quarter
Other items, net OtherOperatingActivitiesCashFlowStatement $25.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-391.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-672.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-15.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-9.00M USD 1 Quarter
Other operating assets IncreaseDecreaseInOtherOperatingAssets $-7.00M USD 1 Quarter
Other operating assets IncreaseDecreaseInOtherOperatingAssets $-59.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-195.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-29.00M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-277.00M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-186.00M USD 1 Quarter
Deferred revenue and financed unearned services revenue IncreaseDecreaseInContractWithCustomerLiability $-158.00M USD 1 Quarter
Deferred revenue and financed unearned services revenue IncreaseDecreaseInContractWithCustomerLiability $-154.00M USD 1 Quarter
Long-term taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $6.00M USD 1 Quarter
Long-term taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-3.00M USD 1 Quarter
Other operating liabilities IncreaseDecreaseInOtherOperatingLiabilities - USD 1 Quarter
Other operating liabilities IncreaseDecreaseInOtherOperatingLiabilities $-18.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $240.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $310.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $2.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $4.00M USD 1 Quarter
Maturities, sales and collections of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $1.03B USD 1 Quarter
Maturities, sales and collections of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $87.00M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $32.00M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $52.00M USD 1 Quarter
Proceeds from sale of properties ProceedsFromSaleOfPropertyPlantAndEquipment $6.00M USD 1 Quarter
Proceeds from sale of properties ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Acquisitions of businesses, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $350.00M USD 1 Quarter
Acquisitions of businesses, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $56.00M USD 1 Quarter
Other investing activities, net PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Other investing activities, net PaymentsForProceedsFromOtherInvestingActivities $1.00M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $938.00M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-311.00M 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 $48.00M USD 1 Quarter
Payments for taxes related to net share settlement of stock awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $33.00M 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 - USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $250.00M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $13.10B USD 69 Qtrs
Repayments of commercial paper notes, original maturities of three months or less, net ProceedsFromRepaymentsOfCommercialPaper $-219.00M USD 1 Quarter
Repayments of commercial paper notes, original maturities of three months or less, net ProceedsFromRepaymentsOfCommercialPaper $-370.00M USD 1 Quarter
Issuance of debt, net of issuance costs ProceedsFromIssuanceOfDebt - USD 1 Quarter
Issuance of debt, net of issuance costs ProceedsFromIssuanceOfDebt $2.06B USD 1 Quarter
Repayments and extinguishment of debt RepaymentsOfDebt - USD 1 Quarter
Repayments and extinguishment of debt RepaymentsOfDebt $589.00M USD 1 Quarter
Dividends paid PaymentsOfDividends $115.00M USD 1 Quarter
Dividends paid PaymentsOfDividends $107.00M USD 1 Quarter
Other financing activities, net ProceedsFromRepaymentsOfOtherLongTermDebt $-3.00M USD 1 Quarter
Other financing activities, net ProceedsFromRepaymentsOfOtherLongTermDebt $-2.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-603.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $1.00B USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $43.00M USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-3.00M USD 1 Quarter
Net increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $642.00M USD 1 Quarter
Net increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $975.00M USD 1 Quarter
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.67B USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.64B USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.97B USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.33B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.67B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.64B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.97B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.33B USD Point-in-time
Stockholders Equity 27 line items
Line Item Tag Value Unit Period
Cash dividends declared, per common share CommonStockDividendsPerShareDeclared $0.48 USD 1 Quarter
Cash dividends declared, per common share CommonStockDividendsPerShareDeclared $0.48 USD 1 Quarter
Balances StockholdersEquity $863.00M USD Point-in-time
Balances StockholdersEquity $284.00M USD Point-in-time
Balances StockholdersEquity $242.00M USD Point-in-time
Balances StockholdersEquity $1.09B USD Point-in-time
Balances (in shares) CommonStockSharesOutstanding 219.00M shares Point-in-time
Balances (in shares) CommonStockSharesOutstanding 222.00M shares Point-in-time
Net income NetIncomeLoss $77.00M USD 1 Quarter
Net income NetIncomeLoss $103.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $3.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $4.00M USD 1 Quarter
Issuance of common stock under employee stock award plans, net of taxes StockIssuedDuringPeriodValueShareBasedCompensation $15.00M 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, shares StockRepurchasedAndRetiredDuringPeriodShares 338.00M shares 69 Qtrs
Repurchase of common stock, shares StockRepurchasedAndRetiredDuringPeriodShares 0.00 shares 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $42.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $54.00M USD 1 Quarter
Cash dividends declared ($0.48 and $0.48 per common share) DividendsCommonStockCash $107.00M USD 1 Quarter
Cash dividends declared ($0.48 and $0.48 per common share) DividendsCommonStockCash $115.00M USD 1 Quarter
Balances StockholdersEquity $863.00M USD Point-in-time
Balances StockholdersEquity $284.00M USD Point-in-time
Balances StockholdersEquity $242.00M USD Point-in-time
Balances StockholdersEquity $1.09B USD Point-in-time
Balances (in shares) CommonStockSharesOutstanding 219.00M shares Point-in-time
Balances (in shares) CommonStockSharesOutstanding 222.00M shares Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $77.00M USD 1 Quarter
Net income NetIncomeLoss $103.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $-1.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $9.00M USD 1 Quarter
Unrealized holding gains arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $2.00M USD 1 Quarter
Unrealized holding gains arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $20.00M USD 1 Quarter
Reclassification adjustments for gains included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax $14.00M USD 1 Quarter
Reclassification adjustments for gains included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax - USD 1 Quarter
Unrealized holding losses arising during the period OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax $-1.00M USD 1 Quarter
Unrealized holding losses arising during the period OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax $-9.00M USD 1 Quarter
Reclassification adjustments for losses included in net income OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax - USD 1 Quarter
Reclassification adjustments for losses included in net income OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax $-1.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $3.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $4.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $107.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $80.00M USD 1 Quarter

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

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