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10-Q Filing

NETAPP, INC. CIK: 1002047 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001564590-21-046976
Period End Date 20210731
Filing Date 20210902
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance ntap-10q_20210730_htm.xml
Balance Sheet 58 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 224.00M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 224.00M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 222.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $4.49B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $4.53B USD Point-in-time
Short-term investments ShortTermInvestments $67.00M USD Point-in-time
Short-term investments ShortTermInvestments $55.00M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $945.00M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $655.00M USD Point-in-time
Inventories InventoryNet $108.00M USD Point-in-time
Inventories InventoryNet $114.00M USD Point-in-time
Other current assets OtherAssetsCurrent $321.00M USD Point-in-time
Other current assets OtherAssetsCurrent $346.00M USD Point-in-time
Total current assets AssetsCurrent $5.63B USD Point-in-time
Total current assets AssetsCurrent $6.00B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $533.00M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $525.00M USD Point-in-time
Goodwill Goodwill $2.04B USD Point-in-time
Goodwill Goodwill $2.05B USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $101.00M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $97.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $845.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $694.00M USD Point-in-time
Total assets Assets $9.36B USD Point-in-time
Total assets Assets $9.16B USD Point-in-time
Accounts payable AccountsPayableCurrent $368.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $420.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $970.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $747.00M USD Point-in-time
Short-term deferred revenue and financed unearned services revenue ContractWithCustomerLiabilityCurrent $1.99B USD Point-in-time
Short-term deferred revenue and financed unearned services revenue ContractWithCustomerLiabilityCurrent $2.06B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.10B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.45B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.63B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.63B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $650.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $784.00M USD Point-in-time
Long-term deferred revenue and financed unearned services revenue ContractWithCustomerLiabilityNoncurrent $1.94B USD Point-in-time
Long-term deferred revenue and financed unearned services revenue ContractWithCustomerLiabilityNoncurrent $1.92B USD Point-in-time
Total liabilities Liabilities $8.68B USD Point-in-time
Total liabilities Liabilities $8.44B USD Point-in-time
Commitments and contingencies (Note 15) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 15) CommitmentsAndContingencies - USD Point-in-time
Common stock and additional paid-in capital, $0.001 par value; 224 and 222 shares issued and outstanding as of July 30, 2021 and April 30, 2021, respectively CommonStocksIncludingAdditionalPaidInCapital $550.00M USD Point-in-time
Common stock and additional paid-in capital, $0.001 par value; 224 and 222 shares issued and outstanding as of July 30, 2021 and April 30, 2021, respectively CommonStocksIncludingAdditionalPaidInCapital $504.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $204.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $211.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-34.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-30.00M USD Point-in-time
Total stockholders' equity StockholdersEquity $242.00M USD Point-in-time
Total stockholders' equity StockholdersEquity $284.00M USD Point-in-time
Total stockholders' equity StockholdersEquity $685.00M USD Point-in-time
Total stockholders' equity StockholdersEquity $720.00M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $9.16B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $9.36B 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 $1.46B USD 1 Quarter
Total cost of revenues CostOfGoodsAndServicesSold $431.00M USD 1 Quarter
Total cost of revenues CostOfGoodsAndServicesSold $459.00M USD 1 Quarter
Gross profit GrossProfit $872.00M USD 1 Quarter
Gross profit GrossProfit $999.00M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $429.00M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $451.00M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $210.00M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $233.00M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $61.00M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $66.00M USD 1 Quarter
Restructuring charges RestructuringCharges $22.00M USD 1 Quarter
Restructuring charges RestructuringCharges $5.00M USD 1 Quarter
Acquisition-related expense BusinessCombinationAcquisitionRelatedCosts $8.00M USD 1 Quarter
Acquisition-related expense BusinessCombinationAcquisitionRelatedCosts $1.00M USD 1 Quarter
Total operating expenses OperatingExpenses $736.00M USD 1 Quarter
Total operating expenses OperatingExpenses $750.00M USD 1 Quarter
Income from operations OperatingIncomeLoss $136.00M USD 1 Quarter
Income from operations OperatingIncomeLoss $249.00M USD 1 Quarter
Other expense, net NonoperatingIncomeExpense $-12.00M USD 1 Quarter
Other expense, net NonoperatingIncomeExpense $-32.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $237.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $104.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $35.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $27.00M USD 1 Quarter
Net income NetIncomeLoss $202.00M USD 1 Quarter
Net income NetIncomeLoss $77.00M USD 1 Quarter
Basic EarningsPerShareBasic $0.35 USD 1 Quarter
Basic EarningsPerShareBasic $0.91 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.88 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.35 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 221.00M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 223.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 222.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 229.00M shares 1 Quarter
Cash Flow Statement 73 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $202.00M USD 1 Quarter
Net income NetIncomeLoss $77.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $49.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $46.00M 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 $53.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $54.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit - USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-15.00M USD 1 Quarter
Other items, net OtherOperatingActivitiesCashFlowStatement $4.00M USD 1 Quarter
Other items, net OtherOperatingActivitiesCashFlowStatement $25.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-391.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-287.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-9.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-6.00M USD 1 Quarter
Other operating assets IncreaseDecreaseInOtherOperatingAssets $-7.00M USD 1 Quarter
Other operating assets IncreaseDecreaseInOtherOperatingAssets $-29.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-51.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-29.00M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-242.00M 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 $-82.00M USD 1 Quarter
Long-term taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $6.00M USD 1 Quarter
Long-term taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-8.00M USD 1 Quarter
Other operating liabilities IncreaseDecreaseInOtherOperatingLiabilities $-18.00M USD 1 Quarter
Other operating liabilities IncreaseDecreaseInOtherOperatingLiabilities - USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $240.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $242.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $2.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $5.00M USD 1 Quarter
Maturities, sales and collections of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $16.00M USD 1 Quarter
Maturities, sales and collections of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $87.00M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $52.00M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $51.00M USD 1 Quarter
Proceeds from sale of properties ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Proceeds from sale of properties ProceedsFromSaleOfPropertyPlantAndEquipment $6.00M USD 1 Quarter
Acquisitions of businesses, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $350.00M USD 1 Quarter
Acquisitions of businesses, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $14.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-54.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-311.00M USD 1 Quarter
Proceeds from issuance of common stock under employee stock award plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $53.00M 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 $57.00M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $13.40B USD 73 Qtrs
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $100.00M USD 1 Quarter
Repayments of commercial paper notes, original maturities of three months or less, net ProceedsFromRepaymentsOfCommercialPaper $-370.00M USD 1 Quarter
Repayments of commercial paper notes, original maturities of three months or less, net ProceedsFromRepaymentsOfCommercialPaper - 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 $112.00M USD 1 Quarter
Dividends paid PaymentsOfDividends $107.00M USD 1 Quarter
Other financing activities, net ProceedsFromRepaymentsOfOtherLongTermDebt $-2.00M USD 1 Quarter
Other financing activities, net ProceedsFromRepaymentsOfOtherLongTermDebt $-3.00M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-218.00M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.00B USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-5.00M USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $43.00M USD 1 Quarter
Net change in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $975.00M USD 1 Quarter
Net change in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-35.00M USD 1 Quarter
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.64B USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.67B USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.50B USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.54B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.64B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.67B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.50B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.54B 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 $0.50 USD 1 Quarter
Balances StockholdersEquity $242.00M USD Point-in-time
Balances StockholdersEquity $284.00M USD Point-in-time
Balances StockholdersEquity $685.00M USD Point-in-time
Balances StockholdersEquity $720.00M USD Point-in-time
Balances (in shares) CommonStockSharesOutstanding 224.00M shares Point-in-time
Balances (in shares) CommonStockSharesOutstanding 222.00M shares Point-in-time
Net income NetIncomeLoss $202.00M USD 1 Quarter
Net income NetIncomeLoss $77.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $3.00M USD 1 Quarter
Other comprehensive income (loss) 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 $-4.00M USD 1 Quarter
Repurchase of common stock StockRepurchasedAndRetiredDuringPeriodValue $100.00M USD 1 Quarter
Repurchase of common stock, shares StockRepurchasedAndRetiredDuringPeriodShares 1.00M shares 1 Quarter
Repurchase of common stock, shares StockRepurchasedAndRetiredDuringPeriodShares 341.00M shares 73 Qtrs
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $53.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $54.00M USD 1 Quarter
Cash dividends declared ($0.50 and $0.48 per common share) DividendsCommonStockCash $112.00M USD 1 Quarter
Cash dividends declared ($0.50 and $0.48 per common share) DividendsCommonStockCash $107.00M USD 1 Quarter
Balances StockholdersEquity $242.00M USD Point-in-time
Balances StockholdersEquity $284.00M USD Point-in-time
Balances StockholdersEquity $685.00M USD Point-in-time
Balances StockholdersEquity $720.00M USD Point-in-time
Balances (in shares) CommonStockSharesOutstanding 224.00M shares Point-in-time
Balances (in shares) CommonStockSharesOutstanding 222.00M shares Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $202.00M USD 1 Quarter
Net income NetIncomeLoss $77.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $9.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $-4.00M USD 1 Quarter
Unrealized holding gains (losses) arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $-1.00M USD 1 Quarter
Unrealized holding gains (losses) arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $2.00M USD 1 Quarter
Unrealized holding gains (losses) arising during the period OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax $-9.00M USD 1 Quarter
Unrealized holding gains (losses) arising during the period OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax $1.00M 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 (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $3.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-4.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $80.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $198.00M USD 1 Quarter

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

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