| Expected Impacts of Adoption of Standards Related to Revenue Recognition and Leases to Reported Results |
Adoption of the standards related to revenue recognition and leases is expected to impact our reported results as follows:
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(In millions, except earnings per share) |
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Year Ended
June 30, 2017 |
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As
Reported |
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New
Revenue
Standard Adjustment |
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New
Lease
Standard Adjustment |
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As
Adjusted |
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Income statements: |
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Revenue |
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$ |
89,950 |
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$ |
6,621 |
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$ |
0 |
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$ |
96,571 |
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Provision for income taxes |
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1,945 |
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|
2,467 |
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0 |
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4,412 |
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Net income |
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21,204 |
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|
4,285 |
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0 |
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25,489 |
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Diluted earnings per share |
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2.71 |
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|
0.54 |
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0 |
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3.25 |
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(In millions, except earnings per share) |
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Year Ended
June 30, 2016 |
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As
Reported |
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New
Revenue
Standard Adjustment |
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New
Lease
Standard Adjustment |
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As
Adjusted |
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Income statements: |
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Revenue |
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$ |
85,320 |
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$ |
5,834 |
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$ |
0 |
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$ |
91,154 |
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Provision for income taxes |
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2,953 |
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2,147 |
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0 |
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5,100 |
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Net income |
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16,798 |
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3,741 |
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0 |
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20,539 |
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Diluted earnings per share |
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2.10 |
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0.46 |
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0 |
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2.56 |
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(In millions) |
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June 30, 2017 |
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As
Reported |
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New
Revenue
Standard Adjustment |
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New
Lease
Standard Adjustment |
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As
Adjusted |
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Balance sheets: |
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Accounts receivable, net |
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$ |
19,792 |
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$ |
2,639 |
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$ |
0 |
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$ |
22,431 |
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Operating lease right-of-use assets |
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0 |
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0 |
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6,555 |
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6,555 |
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Other current and long-term assets |
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11,147 |
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32 |
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0 |
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11,179 |
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Unearned revenue |
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44,479 |
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(17,823) |
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0 |
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|
26,656 |
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Deferred income taxes |
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|
531 |
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|
5,203 |
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0 |
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5,734 |
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Operating lease liabilities |
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0 |
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0 |
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|
5,372 |
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5,372 |
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Other current and long-term liabilities |
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23,464 |
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(26) |
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1,183 |
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24,621 |
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Stockholders' equity |
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72,394 |
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15,317 |
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0 |
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87,711 |
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(In millions) |
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June 30, 2016 |
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As
Reported |
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New
Revenue
Standard Adjustment |
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New
Lease
Standard Adjustment |
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As
Adjusted |
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Balance sheets: |
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Accounts receivable, net |
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$ |
18,277 |
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$ |
2,359 |
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$ |
0 |
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$ |
20,636 |
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Operating lease right-of-use assets |
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0 |
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0 |
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|
5,198 |
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5,198 |
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Other current and long-term assets |
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9,308 |
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|
1,872 |
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0 |
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11,180 |
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Unearned revenue |
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33,909 |
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(11,716) |
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0 |
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|
22,193 |
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Deferred income taxes |
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1,476 |
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|
4,837 |
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0 |
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6,313 |
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Operating lease liabilities |
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0 |
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0 |
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|
4,257 |
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|
4,257 |
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Other current and long-term liabilities |
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19,589 |
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17 |
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|
941 |
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20,547 |
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Stockholders' equity |
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|
71,997 |
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|
11,093 |
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0 |
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83,090 |
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