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MICROSOFT CORP

Statements
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INCOME STATEMENTS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2015
Revenue      
Product $ 57,190 $ 61,502 $ 75,956
Service and other 32,760 23,818 17,624
Total revenue 89,950 [1],[2] 85,320 [3] 93,580
Cost of revenue      
Product 15,175 17,880 21,410
Service and other 19,086 14,900 11,628
Total cost of revenue 34,261 32,780 33,038
Gross margin 55,689 [1] 52,540 60,542
Research and development 13,037 11,988 12,046
Sales and marketing 15,539 14,697 15,713
General and administrative 4,481 4,563 4,611
Impairment, integration, and restructuring 306 1,110 10,011
Operating income 22,326 [1] 20,182 18,161
Other income (expense), net 823 (431) 346
Income before income taxes 23,149 19,751 18,507
Provision for income taxes 1,945 2,953 6,314
Net income $ 21,204 [1],[4] $ 16,798 [5] $ 12,193
Earnings per share:      
Basic $ 2.74 [1] $ 2.12 $ 1.49
Diluted $ 2.71 [1],[4] $ 2.10 [5] $ 1.48
Weighted average shares outstanding:      
Basic 7,746 7,925 8,177
Diluted 7,832 8,013 8,254
Cash dividends declared per common share $ 1.56 $ 1.44 $ 1.24
[1] On December 8, 2016, we acquired LinkedIn Corporation. LinkedIn has been included in our consolidated results of operations starting on the acquisition date.
[2] Reflects the impact of the net revenue deferral from Windows 10 of $1.9 billion, $2.0 billion, $1.5 billion, and $1.4 billion, for the first, second, third, and fourth quarter of fiscal year 2017, respectively, and $6.7 billion for fiscal year 2017.
[3] Reflects the impact of the net revenue deferral from Windows 10 of $1.3 billion, $1.7 billion, $1.6 billion, and $2.0 billion, for the first, second, third, and fourth quarter of fiscal year 2016, respectively, and $6.6 billion for fiscal year 2016.
[4] Includes $306 million of employee severance expenses primarily related to our sales and marketing restructuring plan, which decreased operating income, net income, and diluted EPS by $306 million, $243 million, and $0.03, respectively.
[5] Includes $630 million of asset impairment charges related to our phone business, and $480 million of restructuring charges associated with our 2016 restructuring plans, which together decreased operating income, net income, and diluted EPS by $1.1 billion, $895 million, and $0.11, respectively.