Goodwill and Intangible Asset Disclosure
Based on: 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31).
Item | Description | The company |
---|---|---|
Goodwill | Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. | Intuit Inc. goodwill increased from 2021 to 2022 and from 2022 to 2023. |
Acquired intangible assets, net | Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. | Intuit Inc. acquired intangible assets, net increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |
Goodwill and acquired intangible assets | Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. | Intuit Inc. goodwill and acquired intangible assets increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |
Adjustments to Financial Statements: Removal of Goodwill
Based on: 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31).
Intuit Inc., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Goodwill (Summary)
Based on: 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31).
Financial ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Intuit Inc. adjusted total asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Intuit Inc. adjusted financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |
Adjusted ROE | A profitability ratio calculated as net income divided by adjusted shareholders’ equity. | Intuit Inc. adjusted ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Intuit Inc. adjusted ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Intuit Inc., Financial Ratios: Reported vs. Adjusted
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31).
2023 Calculations
1 Total asset turnover = Net revenue ÷ Total assets
= 14,368 ÷ 27,780 = 0.52
2 Adjusted total asset turnover = Net revenue ÷ Adjusted total assets
= 14,368 ÷ 14,000 = 1.03
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Intuit Inc. adjusted total asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31).
2023 Calculations
1 Financial leverage = Total assets ÷ Stockholders’ equity
= 27,780 ÷ 17,269 = 1.61
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 14,000 ÷ 3,489 = 4.01
Solvency ratio | Description | The company |
---|---|---|
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Intuit Inc. adjusted financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31).
2023 Calculations
1 ROE = 100 × Net income ÷ Stockholders’ equity
= 100 × 2,384 ÷ 17,269 = 13.81%
2 Adjusted ROE = 100 × Net income ÷ Adjusted stockholders’ equity
= 100 × 2,384 ÷ 3,489 = 68.33%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROE | A profitability ratio calculated as net income divided by adjusted shareholders’ equity. | Intuit Inc. adjusted ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31).
2023 Calculations
1 ROA = 100 × Net income ÷ Total assets
= 100 × 2,384 ÷ 27,780 = 8.58%
2 Adjusted ROA = 100 × Net income ÷ Adjusted total assets
= 100 × 2,384 ÷ 14,000 = 17.03%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Intuit Inc. adjusted ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |