þ | Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
o | Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
Delaware
|
77-0034661
|
|
(State of incorporation) | (IRS Employer Identification No.) |
Title of Each Class | Name of Exchange on Which Registered | |||
|
Common Stock, $0.01 par value | NASDAQ Global Select Market | ||
Large accelerated filer þ | Accelerated filer o | Non-accelerated filer o | Smaller reporting company o | |||
(Do not check if a smaller reporting company) |
2
3
| Our Financial Management Solutions segment includes QuickBooks financial and business management software and services, technical support, financial supplies, and Web site design and hosting services for small and medium-sized businesses. | ||
| Our Employee Management Solutions segment provides payroll products and services for small businesses. | ||
| Our Payments Solutions segment provides merchant services for small businesses, including credit and debit card processing, electronic check conversion and automated clearing house services. |
| Our Consumer Tax segment includes TurboTax income tax preparation products and services for consumers and small businesses. | ||
| Our Accounting Professionals segment includes Lacerte and ProSeries professional tax products and services. This segment also includes QuickBooks Premier Accountant Edition and the QuickBooks ProAdvisor Program for accounting professionals. |
| Connecting customers directly to our online services: We host services such as QuickBooks Online, online payroll services for small businesses, Web site services for small businesses, TurboTax Online, and online banking services for financial institutions. Sometimes referred to as Software as a Service, or SaaS, these offerings are designed to deliver clear benefits and value to customers. | ||
| Connecting our services to our software: We offer services, such as small business payroll and merchant services, that can be connected with software, such as QuickBooks. This can create powerful solutions that we believe give us a competitive advantage. | ||
| Connecting people to people : We are increasingly using our products as a platform to connect people to each other and to us, allowing them to share information and solve problems together. For example, our TurboTax Live Community allows participants to submit and answer each others questions while preparing their income tax returns. |
4
| Social: Linked to businesses and each other in a connected world, people shape product development, share their expertise and influence opinion like never before. Customers can share advice with each other by using the online forums available in each of our major products. In a social world, people connect and contribute to our product offerings. | ||
| Mobile: As technology moves from the desktop to the palmtop, we are focusing on mobile services that deliver in the pocket any place at any time thats convenient for customers. For example, Intuit GoPayment helps small businesses improve sales and cash flow by accepting credit card payments on their mobile phones. | ||
| Global: As geographic borders become less important to businesses, we are working to help customers take advantage of a global marketplace and find new customers in new markets. |
Fiscal | Fiscal | Fiscal | ||||||||||
2009 | 2008 | 2007 | ||||||||||
|
||||||||||||
Financial Management Solutions (QuickBooks)
|
18 | % | 19 | % | 20 | % | ||||||
Employee Management Solutions (Payroll)
|
12 | % | 11 | % | 13 | % | ||||||
Consumer Tax
|
31 | % | 30 | % | 30 | % | ||||||
Accounting Professionals
|
11 | % | 11 | % | 12 | % | ||||||
Financial Institutions
|
10 | % | 10 | % | 6 | % | ||||||
|
5
6
7
8
9
10
11
12
13
14
15
| our expectations and beliefs regarding future conduct and growth of the business; | ||
| our expectations regarding competition and our ability to compete effectively; | ||
| our expectations regarding the development of future products, services and technology platforms and our research and development efforts; | ||
| our intention to create easy-to-use connected services that solve customer problems while building durable competitive advantage; | ||
| the assumptions underlying our critical accounting policies and estimates, including our estimates regarding product rebate and return reserves; stock volatility and other assumptions used to estimate the fair value of share-based compensation; and expected future amortization of purchased intangible assets; | ||
| our belief that the investments that we hold are not other-than-temporarily impaired; | ||
| our belief that the reduction in liquidity of the municipal auction rate securities we hold will not have a material impact on our overall ability to meet our liquidity needs; | ||
| our belief that our exposure to currency exchange fluctuation risk will not be significant in the future; | ||
| our assessments and estimates that determine our effective tax rate; | ||
| our belief that our income tax valuation allowance is sufficient; | ||
| our belief that our cash and cash equivalents, investments and cash generated from operations will be sufficient to meet our working capital, capital expenditure and other liquidity requirements for at least the next 12 months; | ||
| our belief that long-term trends toward the use of both desktop and online software will provide future growth opportunities; | ||
| our belief that our facilities are adequate for our near-term needs and that we will be able to locate additional facilities as needed; and | ||
| our assessments and beliefs regarding the future outcome of pending legal proceedings and the liability, if any, that Intuit may incur as a result of those proceedings. |
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17
18
19
20
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| In recent years India has experienced political instability and changing policies that may impact our operations. In addition, for a number of years India and Pakistan have been in conflict and an active state of war between the two countries may disrupt our services. | ||
| Customers may react negatively to providing information to and receiving support from overseas organizations. | ||
| We may not be able to affect the quality of support as directly as we are able to in our company-run call centers. | ||
| International outsourcing has received considerable negative attention in the media, which may harm our reputation, and the U.S. government may adopt legislation that may affect how we operate. For example, the Treasury Department and the Internal Revenue Service have released regulations restricting the flow of personal information to overseas providers. | ||
| We rely on a global communications infrastructure that may be interrupted in a number of ways. For example, in fiscal 2007 an earthquake in Taiwan caused temporary disruption to overseas infrastructure. |
22
| inability to successfully integrate the acquired technology and operations into our business and maintain uniform standards, controls, policies, and procedures; | ||
| inability to realize synergies expected to result from an acquisition; | ||
| challenges retaining the key employees, customers, resellers and other business partners of the acquired operation; | ||
| the internal control environment of an acquired entity may not be consistent with our standards and may require significant time and resources to improve; | ||
| expenses, including the settlement of tax contingencies, associated with the acquisition; and | ||
| unidentified issues not discovered in our due diligence process, including product or service quality issues, intellectual property issues and legal contingencies. |
23
| increasing our vulnerability to downturns in our business, to competitive pressures and to adverse economic and industry conditions; | ||
| requiring the dedication of a portion of our expected cash from operations to service our indebtedness, thereby reducing the amount of expected cash flow available for other purposes, including capital expenditures and acquisitions; and | ||
| limiting our flexibility in planning for, or reacting to, changes in our business and our industry. |
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Principal | ||||||
Approximate | Lease | |||||
Square | Expiration | |||||
Location | Purpose | Feet | Dates | |||
|
||||||
Mountain View and Menlo Park, California
|
Principal offices, corporate headquarters and headquarters for Financial Management Solutions business
|
792,000 | 2009 - 2018 | |||
|
||||||
San Diego, California
|
Headquarters for Consumer Tax business, general office space and data center
|
537,000 | 2010 - 2017 | |||
|
||||||
Woodland Hills, Westlake Village and Calabasas, California
|
Headquarters
for Payments Solutions and Financial Institutions businesses and data
centers
|
274,000 | 2011 - 2018 | |||
|
||||||
Quincy, Washington
|
Data center | 240,000 | Owned | |||
|
||||||
Plano, Texas
|
Headquarters for Accounting Professionals business and data center | 166,000 | 2011 | |||
|
||||||
Tucson, Arizona
|
Customer call center | 136,000 | 2017 | |||
|
27
High | Low | |||||||
Fiscal year ended July 31, 2008
|
||||||||
First quarter
|
$ | 33.10 | $ | 26.14 | ||||
Second quarter
|
33.02 | 27.75 | ||||||
Third quarter
|
31.50 | 25.08 | ||||||
Fourth quarter
|
30.06 | 26.18 | ||||||
|
||||||||
Fiscal year ended July 31, 2009
|
||||||||
First quarter
|
$ | 32.00 | $ | 21.76 | ||||
Second quarter
|
26.24 | 20.18 | ||||||
Third quarter
|
28.32 | 21.07 | ||||||
Fourth quarter
|
30.01 | 22.76 | ||||||
|
28
Total Number | Approximate | |||||||||||||||
of Shares | Dollar Value of | |||||||||||||||
Total Number | Average | Purchased as | Shares That May | |||||||||||||
of Shares | Price Paid | Part of Publicly | Yet Be Purchased | |||||||||||||
Period | Purchased | per Share | Announced Plans | Under the Plans | ||||||||||||
|
||||||||||||||||
May 1, 2009 through
May 31, 2009
|
| $ | | | $ | 399,749,124 | ||||||||||
|
||||||||||||||||
June 1, 2009 through
June 30, 2009
|
1,794,900 | $ | 27.86 | 1,794,900 | $ | 349,749,933 | ||||||||||
|
||||||||||||||||
July 1, 2009 through
July 31, 2009
|
1,728,900 | $ | 28.92 | 1,728,900 | $ | 299,751,151 | ||||||||||
|
||||||||||||||||
|
||||||||||||||||
Total
|
3,523,800 | $ | 28.38 | 3,523,800 | ||||||||||||
|
||||||||||||||||
|
1. | All shares purchased as part of publicly announced plans during the three months ended July 31, 2009 were purchased under a plan we announced on May 20, 2008 under which we were authorized by our Board of Directors to repurchase up to $600 million of our common stock from time to time over a three-year period ending on May 15, 2011. |
29
July 31, | July 31, | July 31, | July 31, | July 31, | July 31, | |||||||||||||||||||
2004 | 2005 | 2006 | 2007 | 2008 | 2009 | |||||||||||||||||||
Intuit Inc.
|
$ | 100.00 | $ | 128.21 | $ | 164.90 | $ | 152.99 | $ | 145.99 | $ | 158.65 | ||||||||||||
S&P 500
|
100.00 | 114.05 | 120.19 | 139.58 | 124.10 | 99.33 | ||||||||||||||||||
Morgan Stanley Technology
|
100.00 | 112.64 | 106.05 | 144.03 | 137.92 | 123.39 | ||||||||||||||||||
|
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31
SELECTED FINANCIAL DATA
Consolidated Statement of Operations Data
Fiscal
(In thousands, except per share amounts)
2009
2008
2007
2006
2005
$
3,182,537
$
3,070,974
$
2,672,947
$
2,293,010
$
1,993,102
2,500,477
2,420,207
2,035,377
1,727,416
1,464,401
682,060
650,767
637,570
565,594
528,701
132,778
113,238
76,313
70,340
5,489
447,041
450,750
443,468
380,963
377,743
26,012
(3,465
)
36,000
3,884
447,041
476,762
440,003
416,963
381,627
$
1.39
$
1.37
$
1.29
$
1.10
$
1.02
0.08
(0.01
)
0.10
0.01
$
1.39
$
1.45
$
1.28
$
1.20
$
1.03
$
1.35
$
1.33
$
1.25
$
1.06
$
1.00
0.08
(0.01
)
0.10
0.01
$
1.35
$
1.41
$
1.24
$
1.16
$
1.01
Consolidated Balance Sheet Data
At July 31,
(In thousands)
2009
2008
2007
2006
2005
$
1,347,020
$
827,833
$
1,303,671
$
1,197,200
$
994,258
97,095
288,310
884,033
306,324
791,823
801,056
610,935
4,826,329
4,666,584
4,252,026
2,770,027
2,716,451
998,184
997,996
997,819
186,966
121,489
57,756
15,399
17,548
2,555,799
2,072,954
2,035,013
1,738,086
1,695,499
Table of Contents
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
Executive Overview that discusses at a high level our operating results and some of the
trends that affect our business.
Critical Accounting Policies and Estimates that we believe are important to
understanding the assumptions and judgments underlying our financial statements.
Results of Operations that includes a more detailed discussion of our revenue and
expenses.
Liquidity and Capital Resources which discusses key aspects of our statements of cash
flows, changes in our balance sheets and our financial commitments.
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Fiscal
Fiscal
Fiscal
2009-2008
2008-2007
(Dollars in millions, except per share amounts)
2009
2008
2007
% Change
% Change
$
3,182.5
$
3,071.0
$
2,672.9
4
%
15
%
682.1
650.8
637.6
5
%
2
%
447.0
450.8
443.5
-1
%
2
%
$
1.35
$
1.33
$
1.25
2
%
6
%
Table of Contents
% Total
% Total
% Total
Fiscal
Net
Fiscal
Net
Fiscal
Net
2009-2008
2008-2007
(Dollars in millions)
2009
Revenue
2008
Revenue
2007
Revenue
% Change
% Change
$
383.0
$
445.8
$
453.8
195.8
146.3
97.4
578.8
18
%
592.1
19
%
551.2
20
%
-2
%
7
%
236.5
212.7
200.7
128.3
124.2
147.6
364.8
12
%
336.9
11
%
348.3
13
%
8
%
-3
%
28.4
32.6
39.3
262.6
221.0
164.1
291.0
9
%
253.6
8
%
203.4
8
%
15
%
25
%
256.4
311.6
300.7
740.0
617.8
512.2
996.4
31
%
929.4
30
%
812.9
30
%
7
%
14
%
321.6
301.5
283.8
30.2
25.2
30.4
351.8
11
%
326.7
11
%
314.2
12
%
8
%
4
%
0.3
0.8
0.2
310.8
297.8
150.2
311.1
10
%
298.6
10
%
150.4
6
%
4
%
99
%
157.8
191.7
168.9
130.8
142.0
123.6
288.6
9
%
333.7
11
%
292.5
11
%
-14
%
14
%
1,384.0
1,496.7
1,447.4
1,798.5
1,574.3
1,225.5
$
3,182.5
100
%
$
3,071.0
100
%
$
2,672.9
100
%
4
%
15
%
Table of Contents
Table of Contents
% of
% of
% of
Fiscal
Related
Fiscal
Related
Fiscal
Related
(Dollars in millions)
2009
Revenue
2008
Revenue
2007
Revenue
$
157.2
11
%
$
154.1
10
%
$
169.1
12
%
458.5
25
%
414.1
26
%
309.4
25
%
61.2
n/a
56.0
n/a
30.9
n/a
$
676.9
21
%
$
624.2
20
%
$
509.4
19
%
Table of Contents
% of
% of
% of
Total
Total
Total
Fiscal
Net
Fiscal
Net
Fiscal
Net
(Dollars in millions)
2009
Revenue
2008
Revenue
2007
Revenue
$
927.2
29
%
$
859.6
28
%
$
742.4
28
%
566.2
18
%
605.8
20
%
472.5
17
%
288.1
9
%
295.0
10
%
291.1
11
%
42.1
1
%
35.5
1
%
20.0
1
%
$
1,823.6
57
%
$
1,795.9
59
%
$
1,526.0
57
%
Table of Contents
% of
% of
% of
Fiscal
Related
Fiscal
Related
Fiscal
Related
(Dollars in millions)
2009
Revenue
2008
Revenue
2007
Revenue
$
113.3
20
%
$
169.7
29
%
$
169.1
31
%
207.6
57
%
166.3
49
%
164.3
47
%
31.6
11
%
42.8
17
%
49.9
25
%
628.7
63
%
587.7
63
%
501.7
62
%
186.0
53
%
162.6
50
%
154.4
49
%
69.4
22
%
57.0
19
%
38.8
26
%
65.6
23
%
99.2
30
%
96.7
33
%
$
1,302.2
41
%
$
1,285.3
42
%
$
1,174.9
44
%
Table of Contents
Table of Contents
Table of Contents
Fiscal
Fiscal
Fiscal
(In millions)
2009
2008
2007
$
20.5
$
39.0
$
45.0
(5.9
)
(3.4
)
(1.0
)
7.5
7.5
9.3
2.7
(0.6
)
0.5
(0.1
)
0.2
(0.5
)
$
21.5
$
46.5
$
52.7
Table of Contents
Table of Contents
July 31,
July 31,
$
%
(Dollars in millions)
2009
2008
Change
Change
$
1,347.0
$
827.8
$
519.2
63
%
97.1
288.3
(191.2
)
(66
%)
998.2
998.0
0.2
0
%
884.0
306.3
577.7
189
%
1.8
: 1
1.2
: 1
Table of Contents
Fiscal
Fiscal
Fiscal
(In millions)
2009
2008
2007
$
812.4
$
830.2
$
726.8
447.0
477.5
441.1
149.1
116.6
94.2
125.6
99.9
64.4
132.8
113.3
77.3
(432.4
)
(86.1
)
(1,412.5
)
(187.4
)
(264.5
)
(1,271.8
)
(66.7
)
347.9
59.8
(182.5
)
(306.1
)
(153.2
)
132.0
54.9
(110.3
)
(586.5
)
733.9
997.8
(300.2
)
(800.0
)
(506.8
)
183.6
196.9
211.4
265.6
158.1
75.6
Table of Contents
Table of Contents
Payments Due by Period
Less than
1-3
3-5
More than
(In millions)
1 year
years
years
5 years
Total
$
36.7
$
$
$
$
36.7
500.00
500.0
1,000.0
56.3
111.9
57.5
86.3
312.0
10.0
20.0
20.0
50.0
100.0
54.0
93.0
73.7
102.4
323.1
47.4
30.8
0.5
78.7
$
204.4
$
755.7
$
151.7
$
738.7
$
1,850.5
(1)
In May 2009 we entered into an agreement to license certain technology for $20 million
in cash and $100 million payable over the next ten fiscal years. See Note 4 and Note 9 to
the financial statements in Item 8.
(2)
Represents agreements to purchase products and services that are enforceable, legally
binding and specify terms, including: fixed or minimum quantities to be purchased; fixed,
minimum or variable price provisions; and the approximate timing of the payments.
(3)
Excludes $47.6 million of non-current uncertain tax benefits under FIN 48, which are
included in other long-term obligations on our balance sheet at July 31, 2009. We have not
included this amount in the table above because we cannot make a reasonably reliable
estimate regarding the timing of settlements with taxing authorities, if any.
Table of Contents
Table of Contents
Years Ending July 31,
2015 and
(In thousands)
2010
2011
2012
2013
2014
Thereafter
Total
$
893,021
$
$
$
$
$
$
893,021
185,367
160,185
4,997
4,242
16,542
296,785
668,118
93,650
93,650
$
1,078,388
$
160,185
$
4,997
$
4,242
$
16,542
$
390,435
$
1,654,789
Table of Contents
Table of Contents
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
1.
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
The following financial statements are filed as part of this Report:
Page
56
58
59
60
61
62
2.
INDEX TO FINANCIAL STATEMENT SCHEDULES
The following financial statement schedule is filed as part of this Report and should be
read in conjunction with the Consolidated Financial Statements:
Schedule
Page
101
All other schedules not listed above have been omitted because they are inapplicable or are
not required.
Table of Contents
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
September 15, 2009
Table of Contents
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
September 15, 2009
Table of Contents
Twelve Months Ended July 31,
(In thousands, except per share amounts)
2009
2008
2007
$
1,384,056
$
1,496,655
$
1,447,392
1,798,481
1,574,319
1,225,555
3,182,537
3,070,974
2,672,947
157,197
154,147
169,101
458,505
414,100
309,419
61,146
56,011
30,926
927,174
859,647
742,368
566,232
605,818
472,516
288,101
294,966
291,083
42,122
35,518
19,964
2,500,477
2,420,207
2,035,377
682,060
650,767
637,570
(51,184
)
(52,290
)
(27,091
)
21,471
46,520
52,689
1,084
1,417
1,568
51,571
31,676
653,431
697,985
696,412
205,222
245,579
251,607
1,168
1,656
1,337
447,041
450,750
443,468
26,012
(3,465
)
$
447,041
$
476,762
$
440,003
$
1.39
$
1.37
$
1.29
0.08
(0.01
)
$
1.39
$
1.45
$
1.28
322,280
328,545
342,637
$
1.35
$
1.33
$
1.25
0.08
(0.01
)
$
1.35
$
1.41
$
1.24
330,190
339,268
355,815
Table of Contents
July 31,
(In thousands, except par value)
2009
2008
$
678,902
$
413,340
668,118
414,493
146,869
127,230
66,435
60,564
92,177
101,730
43,333
45,457
1,695,834
1,162,814
272,028
610,748
1,967,862
1,773,562
97,095
288,310
528,949
507,499
1,826,172
1,698,087
292,964
273,087
36,516
52,491
76,771
73,548
$
4,826,329
$
4,666,584
$
104,963
$
115,198
175,010
229,819
378,148
359,936
358
16,211
153,322
135,326
811,801
856,490
272,028
610,748
1,083,829
1,467,238
998,184
997,996
186,966
121,489
2,268,979
2,586,723
1,551
6,907
3,228
3,226
2,542,346
2,404,523
(2,846,050
)
(2,786,499
)
7,504
7,722
2,848,771
2,443,982
2,555,799
2,072,954
$
4,826,329
$
4,666,584
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Accumulated
Additional
Other
Total
Common Stock
Paid-In
Treasury
Comprehensive
Retained
Stockholders
(Dollars in thousands)
Shares
Amount
Capital
Stock
Income
Earnings
Equity
344,170,779
$
3,442
$
2,089,472
$
(1,944,036
)
$
1,084
$
1,588,124
$
1,738,086
440,003
440,003
5,012
5,012
445,015
12,013,581
119
12,452
242,168
(41,907
)
212,832
61,904
1
(1,462
)
1,334
(1,335
)
(1,462
)
13,898
13,898
(17,083,600
)
(171
)
(506,422
)
(506,593
)
(5,362
)
(158
)
(158
)
56,081
56,081
77,314
77,314
339,157,302
3,391
2,247,755
(2,207,114
)
6,096
1,984,885
2,035,013
476,762
476,762
1,626
1,626
478,388
10,266,359
102
213,519
(10,838
)
202,783
347,251
4
(5,838
)
6,823
(6,827
)
(5,838
)
11,096
11,096
(27,171,082
)
(271
)
(799,727
)
(799,998
)
38,226
38,226
113,284
113,284
322,599,830
3,226
2,404,523
(2,786,499
)
7,722
2,443,982
2,072,954
447,041
447,041
(218
)
(218
)
446,823
10,106,984
101
219,564
(21,218
)
198,447
965,703
10
(14,827
)
21,025
(21,034
)
(14,826
)
1,404
1,404
(10,906,967
)
(109
)
(300,140
)
(300,249
)
18,468
18,468
132,778
132,778
322,765,550
$
3,228
$
2,542,346
$
(2,846,050
)
$
7,504
$
2,848,771
$
2,555,799
(1)
Includes $76,313 for continuing operations and $1,001 for discontinued operations.
(2)
Includes $113,238 for continuing operations and $46 for discontinued operations.
Table of Contents
Twelve Months Ended July 31,
(In thousands)
2009
2008
2007
$
447,041
$
476,762
$
440,003
755
1,140
447,041
477,517
441,143
149,117
116,572
94,175
125,556
99,891
64,353
132,778
113,284
77,314
(51,571
)
(31,676
)
(45,667
)
22,280
60,550
(39,200
)
18,468
38,226
56,081
(9,487
)
(20,764
)
(30,913
)
13,467
12,195
4,644
899,220
800,233
635,921
(17,693
)
11,427
(3,913
)
(12,111
)
(14,360
)
1,600
(6,855
)
(17,504
)
18,574
(55,329
)
28,508
3,641
26,433
47,472
23,250
(17,682
)
(15,147
)
(1,202
)
(3,619
)
(10,439
)
48,889
(86,856
)
29,957
90,839
812,364
830,190
726,760
(550,464
)
(934,335
)
(2,466,642
)
426,231
1,045,321
1,997,825
57,530
236,895
528,647
365,607
(290,462
)
(51,242
)
(130,896
)
(261,901
)
(104,922
)
(51,556
)
(44,226
)
(48,335
)
(365,607
)
290,462
(42,958
)
(187,357
)
(264,525
)
(1,271,791
)
34,883
54,900
97,147
4,071
4,691
(7,958
)
(432,441
)
(86,050
)
(1,412,476
)
(755
)
19,849
(432,441
)
(86,805
)
(1,392,627
)
1,000,000
(1,000,000
)
997,755
198,447
202,783
212,832
(14,826
)
(5,838
)
(1,462
)
(300,249
)
(799,998
)
(506,751
)
9,487
20,764
30,913
(3,173
)
(4,220
)
573
(110,314
)
(586,509
)
733,860
(4,047
)
1,263
7,607
265,562
158,139
75,600
413,340
255,201
179,601
$
678,902
$
413,340
$
255,201
$
55,918
$
56,481
$
6,196
$
189,730
$
185,549
$
221,701
$
$
4,926
$
24,478
$
69,200
$
$
(1)
We have segregated the cash flows of our Information Technology Solutions discontinued
operations on these statements of cash flows. Because the cash flows of our Intuit Distribution
Management Solutions (IDMS) discontinued operations were not material for any period presented, we
have not segregated the cash flows of that business on these statements of cash flows. We have
presented the effect of the gain on disposal of IDMS on the statement of cash flows for the twelve
months ended July 31, 2008. See Note 7 to the financial statements.
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Twelve Months Ended July 31,
(In thousands, except per share amounts)
2009
2008
2007
$
447,041
$
450,750
$
443,468
26,012
(3,465
)
$
447,041
$
476,762
$
440,003
322,280
328,545
342,637
322,280
328,545
342,637
7,910
10,723
13,178
330,190
339,268
355,815
$
1.39
$
1.37
$
1.29
0.08
(0.01
)
$
1.39
$
1.45
$
1.28
$
1.35
$
1.33
$
1.25
0.08
(0.01
)
$
1.35
$
1.41
$
1.24
23,787
18,419
10,652
Table of Contents
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July 31, 2009
July 31, 2008
(In thousands)
Cost
Fair Value
Cost
Fair Value
$
678,902
$
678,902
$
413,340
$
413,340
666,105
668,118
412,075
414,493
272,028
272,028
610,748
610,748
97,095
97,095
288,310
288,310
$
1,714,130
$
1,716,143
$
1,724,473
$
1,726,891
July 31, 2009
July 31, 2008
(In thousands)
Cost
Fair Value
Cost
Fair Value
$
950,930
$
950,930
$
1,024,088
$
1,024,088
446,875
448,273
330,436
332,534
244,525
244,525
285,325
285,325
24,680
24,712
74,476
74,796
43,675
44,258
7,163
7,163
759,755
761,768
697,400
699,818
3,445
3,445
2,985
2,985
$
1,714,130
$
1,716,143
$
1,724,473
$
1,726,891
July 31,
July 31,
(In thousands)
2009
2008
$
2,120
$
2,482
(107
)
(64
)
$
2,013
$
2,418
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July 31, 2009
July 31, 2008
Gross
Gross
Fair
Unrealized
Fair
Unrealized
(In thousands)
Value
Losses
Value
Losses
$
47,708
$
(72
)
$
29,484
$
(46
)
12,945
(29
)
3,151
(9
)
7,491
(6
)
14,964
(9
)
$
68,144
$
(107
)
$
47,599
$
(64
)
Twelve Months Ended July 31,
(In thousands)
2009
2008
2007
$
957
$
463
$
126
(244
)
(88
)
(192
)
$
713
$
375
$
(66
)
July 31, 2009
July 31, 2008
(In thousands)
Cost
Fair Value
Cost
Fair Value
$
184,807
$
185,367
$
108,753
$
109,562
159,303
160,185
207,157
208,144
5,000
4,997
10,379
10,402
410,645
411,219
371,111
371,710
$
759,755
$
761,768
$
697,400
$
699,818
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Life in
July 31,
(Dollars in thousands)
Years
2009
2008
3-5
$
466,543
$
400,111
3-5
350,950
310,789
5
61,951
55,590
2-11
217,321
180,621
N/A
3,391
3,463
5-30
201,513
27,760
N/A
40,062
213,735
1,341,731
1,192,069
(812,782
)
(684,570
)
$
528,949
$
507,499
Balance
Goodwill
Foreign
Balance
Goodwill
Foreign
Balance
July 31,
Acquired/
Currency
July 31,
Acquired/
Currency
July 31,
(In thousands)
2007
Adjusted
Translation
2008
Adjusted
Translation
2009
$
54,633
$
98,894
$
$
153,527
$
(1,375
)
$
$
152,152
151,542
151,542
122,272
273,814
98,146
82,492
180,638
769
181,407
30,041
30,041
30,041
90,507
90,507
90,507
1,002,631
(805
)
1,001,826
7,231
1,009,057
89,536
470
90,006
(812
)
89,194
$
1,517,036
$
180,581
$
470
$
1,698,087
$
128,897
$
(812
)
$
1,826,172
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Trade
Covenants Not
Customer
Purchased
Names
to Compete
(Dollars in thousands)
Lists
Technology
and Logos
and Sue
Total
$
417,194
$
401,408
$
26,746
$
35,144
$
880,492
(286,757
)
(268,370
)
(19,467
)
(12,934
)
(587,528
)
$
130,437
$
133,038
$
7,279
$
22,210
$
292,964
5
5
5
8
5
$
397,356
$
299,963
$
26,248
$
12,596
$
736,163
(240,386
)
(193,563
)
(17,007
)
(12,120
)
(463,076
)
$
156,970
$
106,400
$
9,241
$
476
$
273,087
5
4
5
3
4
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Expected
Future
Amortization
(In thousands)
Expense
$
96,293
66,028
43,709
21,440
18,747
46,747
$
292,964
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Unrealized
Realized
Gain (Loss)
Gain on
Foreign
on
Derivative
Currency
(In thousands)
Investments
Instruments
Translation
Total
$
(462
)
$
$
1,546
$
1,084
317
317
40
40
450
450
(17
)
(17
)
4,222
4,222
357
433
4,222
5,012
(105
)
433
5,768
6,096
1,788
1,788
(226
)
(226
)
(41
)
(41
)
105
105
1,562
(41
)
105
1,626
1,457
392
5,873
7,722
179
179
(414
)
(414
)
(42
)
(42
)
59
59
(235
)
(42
)
59
(218
)
$
1,222
$
350
$
5,932
$
7,504
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Twelve Months Ended
July 31, 2007
As
Pro
(In thousands)
Reported
Forma
$
2,672,947
$
2,797,943
443,468
414,527
$
1.29
$
1.21
$
1.25
$
1.17
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July 31,
(In thousands)
2009
2008
$
21,932
$
27,910
29,952
13,408
20,597
20,597
36,716
38,234
44,125
35,177
$
153,322
$
135,326
July 31,
(In thousands)
2009
2008
$
500,000
$
500,000
500,000
500,000
1,000,000
1,000,000
(1,816
)
(2,004
)
$
998,184
$
997,996
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July 31,
(In thousands)
2009
2008
$
70,599
$
63,569
61,747
20,267
12,939
47,595
47,857
4,876
8,008
206,906
130,551
(19,940
)
(9,062
)
$
186,966
$
121,489
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Operating
Lease
(In thousands)
Commitments
$
53,997
50,056
42,954
38,587
35,112
102,386
$
323,092
Level 1
uses unadjusted quoted prices that are available in active markets for identical
assets or liabilities. Our Level 1 assets consist of cash equivalents, including funds held
for customers, that are invested primarily in AAA-rated money market funds.
Level 2
uses inputs other than quoted prices included in Level 1 that are either
directly or indirectly observable through correlation with market data. These include
quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets
that are not active; and inputs to valuation models or other pricing methodologies that do
not require significant judgment
Table of Contents
because the inputs used in the model, such as interest
rates and volatility, can be corroborated by readily observable market data. Our Level 2
assets consist of municipal bonds, U.S. agency securities and corporate notes that we
classify as available-for-sale securities. Our Level 2 liabilities consist of long-term
debt that is model priced by third parties using observable inputs.
Level 3
uses one or more significant inputs that are unobservable and supported by
little or no market activity, and that reflect the use of significant management judgment.
Level 3 assets and liabilities include those whose fair value measurements are determined
using pricing models, discounted cash flow methodologies or similar valuation techniques,
and significant management judgment or estimation. Our Level 3 assets consist of municipal
auction rate securities.
Quoted Prices
in Active
Significant
Markets
Other
Significant
for Identical
Observable
Unobservable
Instruments
Inputs
Inputs
Total
(In thousands)
(Level 1)
(Level 2)
(Level 3)
Fair Value
$
893,021
$
$
$
893,021
448,273
448,273
24,712
24,712
44,258
44,258
244,525
244,525
$
893,021
$
517,243
$
244,525
$
1,654,789
$
$
1,000,910
$
$
1,000,910
(1)
Included in cash and cash equivalents and funds held for customers on our balance sheet
at July 31, 2009.
(2)
Included in investments on our balance sheet at July 31, 2009.
(3)
$150.9 million included in investments and $93.6 million included in long-term
investments on our balance sheet at July 31, 2009.
(4)
Carrying value on our balance sheet at July 31, 2009 was $998.2 million. See Note 9.
Table of Contents
(In thousands)
$
285,325
(40,800
)
$
244,525
Inputs to Model at
July 31,
July 31,
(In thousands)
2009
2008
0.63% - 3.78%
2.57% - 4.48%
1.61% - 1.86%
3.45% - 3.70%
0.36%
2.20%
125 - 150 bps
125 - 150 bps
7
7
Table of Contents
Twelve Months Ended July 31,
(In thousands)
2009
2008
2007
$
159,426
$
179,835
$
220,064
6,858
35,046
54,372
11,921
8,458
8,103
178,205
223,339
282,539
23,628
13,099
(24,158
)
6,876
9,381
(7,596
)
(3,487
)
(240
)
822
27,017
22,240
(30,932
)
$
205,222
$
245,579
$
251,607
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Twelve Months Ended July 31,
(In thousands)
2009
2008
2007
$
627,600
$
669,746
$
661,966
25,831
28,239
34,446
$
653,431
$
697,985
$
696,412
Twelve Months Ended July 31,
(In thousands)
2009
2008
2007
$
653,431
$
697,985
$
696,412
$
228,701
$
244,294
$
243,744
8,927
28,878
30,404
(20,700
)
(7,842
)
(13,341
)
(11,422
)
(11,816
)
(4,985
)
3,786
311
5,048
(5,117
)
(11,641
)
(15,940
)
1,047
3,395
6,677
$
205,222
$
245,579
$
251,607
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July 31,
(In thousands)
2009
2008
$
31,058
$
28,178
11,745
13,859
1,350
33,954
46,547
38,782
5,027
12,130
91,737
77,336
11,021
21,002
198,485
225,241
59,197
65,925
4,858
5,095
64,055
71,020
134,430
154,221
(5,737
)
$
128,693
$
154,221
July 31,
(In thousands)
2009
2008
$
92,177
$
101,730
36,516
52,491
$
128,693
$
154,221
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Twelve Months Ended
July 31,
(In thousands)
2009
2008
$
44,843
$
33,321
10,159
14,076
(10,043
)
(1,518
)
4,427
8,233
(7,961
)
(7,898
)
(1,234
)
(1,371
)
$
40,191
$
44,843
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Twelve Months Ended July 31,
(In thousands, except per share amounts)
2009
2008
2007
$
1,414
$
1,018
$
743
7,183
6,211
3,283
47,990
37,948
23,518
39,244
31,841
21,511
36,947
36,220
27,258
132,778
113,238
76,313
(47,393
)
(44,873
)
(24,237
)
$
85,385
$
68,365
$
52,076
$
0.26
$
0.21
$
0.15
$
0.26
$
0.20
$
0.15
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Twelve Months Ended July 31,
2009
2008
2007
28% - 44
%
28% - 34
%
24% - 27
%
31
%
33
%
27
%
1.13% - 3.08
%
2.11% - 4.56
%
4.47% - 5.05
%
0
%
0
%
0
%
35% - 53
%
31% - 37
%
26% - 27
%
42
%
33
%
26
%
0.04% - 0.84
%
1.11% - 4.15
%
4.63% - 5.04
%
0
%
0
%
0
%
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Options Outstanding
Shares
Weighted Average
Available
Number of
Exercise Price
for Grant
Shares
Per Share
6,072,093
56,931,493
$
21.93
10,000,000
1,544,613
20.78
(9,119,495
)
9,119,495
30.10
(2,548,340
)
(10,913,824
)
17.02
1,766,921
(2,192,127
)
26.88
239,285
6,410,464
54,489,650
24.05
10,000,000
647,992
2.00
(8,319,960
)
8,319,960
27.99
(3,045,883
)
(9,101,382
)
19.37
2,310,928
(4,150,247
)
30.91
620,275
7,975,824
50,205,973
24.70
10,000,000
178,564
6.45
(6,537,620
)
6,537,620
28.83
(6,241,602
)
(8,759,979
)
19.37
2,207,823
(2,487,900
)
29.20
681,792
8,086,217
45,674,278
$
26.00
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Weighted
Weighted
Average
Average
Aggregate
Remaining
Exercise
Intrinsic
Number
Contractual
Price per
Value (in
of Shares
Life (in Years)
Share
thousands)
45,674,278
3.97
$
26.00
$
184,937
44,237,916
3.90
$
25.93
$
182,501
31,931,577
3.02
$
25.04
$
163,730
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Restricted Stock Units
Weighted
Average
Number of
Grant Date
Shares
Fair Value
488,236
$
23.03
2,548,340
30.59
(292,401
)
23.73
(239,489
)
30.54
2,504,686
29.88
3,045,883
28.24
561,887
29.78
(484,427
)
25.96
(630,696
)
29.52
4,997,333
29.29
6,241,602
26.09
(1,150,176
)
30.54
(690,993
)
28.53
9,397,766
$
27.06
Table of Contents
Table of Contents
Table of Contents
Twelve Months Ended July 31,
2009
2008
2007
$
383,002
$
445,787
$
453,772
195,799
146,319
97,414
578,801
592,106
551,186
236,535
212,745
200,740
128,296
124,135
147,649
364,831
336,880
348,389
28,414
32,545
39,277
262,560
221,015
164,097
290,974
253,560
203,374
256,400
311,607
300,725
740,013
617,822
512,179
996,413
929,429
812,904
321,594
301,511
283,812
30,153
25,212
30,439
351,747
326,723
314,251
274
759
150
310,831
297,781
150,200
311,105
298,540
150,350
157,837
191,701
168,916
130,829
142,035
123,577
288,666
333,736
292,493
1,384,056
1,496,655
1,447,392
1,798,481
1,574,319
1,225,555
$
3,182,537
$
3,070,974
$
2,672,947
Table of Contents
Twelve Months Ended July 31,
2009
2008
2007
$
113,340
$
169,663
$
169,127
207,606
166,324
164,257
31,542
42,785
49,872
628,679
587,685
501,743
186,021
162,589
154,355
69,404
56,982
38,845
65,564
99,225
96,677
1,302,156
1,285,253
1,174,876
(132,778
)
(113,238
)
(76,313
)
(384,050
)
(429,719
)
(410,103
)
(61,146
)
(56,011
)
(30,926
)
(42,122
)
(35,518
)
(19,964
)
(620,096
)
(634,486
)
(537,306
)
$
682,060
$
650,767
$
637,570
Fiscal 2009 Quarter Ended
(In thousands, except per share amounts)
October 31
January 31
April 30
July 31
$
481,379
$
790,976
$
1,434,408
$
475,774
160,321
178,160
173,072
165,295
397,088
503,259
497,274
426,008
(76,030
)
109,557
764,062
(115,529
)
(52,144
)
85,040
484,820
(70,675
)
(52,144
)
85,040
484,820
(70,675
)
$
(0.16
)
$
0.27
$
1.51
$
(0.22
)
$
(0.16
)
$
0.27
$
1.51
$
(0.22
)
$
(0.16
)
$
0.26
$
1.47
$
(0.22
)
$
(0.16
)
$
0.26
$
1.47
$
(0.22
)
Table of Contents
Fiscal 2008 Quarter Ended
(In thousands, except per share amounts)
October 31
January 31
April 30
July 31
$
444,938
$
834,874
$
1,313,008
$
478,154
144,015
173,017
154,023
153,203
404,122
488,227
484,484
419,116
(103,199
)
173,630
674,501
(94,165
)
(47,571
)
116,002
444,179
(61,860
)
26,767
(755
)
(20,804
)
115,247
444,179
(61,860
)
$
(0.14
)
$
0.35
$
1.37
$
(0.19
)
0.08
$
(0.06
)
$
0.35
$
1.37
$
(0.19
)
$
(0.14
)
$
0.34
$
1.33
$
(0.19
)
0.08
$
(0.06
)
$
0.34
$
1.33
$
(0.19
)
Table of Contents
VALUATION AND QUALIFYING ACCOUNTS
Additions
Balance at
Charged to
Balance at
Beginning of
Expense/
End of
(In thousands)
Period
Revenue
Deductions
Period
$
15,636
$
14,595
$
(13,946
)
$
16,285
27,910
106,864
(112,842
)
21,932
13,408
114,176
(97,632
)
29,952
$
15,248
$
14,269
$
(13,881
)
$
15,636
25,833
104,676
(102,599
)
27,910
18,918
67,399
(72,909
)
13,408
$
11,532
$
14,743
$
(11,027
)
$
15,248
29,385
102,592
(106,144
)
25,833
8,996
67,642
(57,720
)
18,918
Note:
Additions to the allowance for doubtful accounts are charged to general and
administrative expense.
Additions to the reserves for product returns and rebates are charged
against revenue.
Table of Contents
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
ACCOUNTING AND FINANCIAL DISCLOSURE
OTHER INFORMATION
Table of Contents
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
Name
Age
Position
45
President, Chief Executive Officer and Director
57
Founder, Executive Officer and Director
48
Senior Vice President, General Counsel and Corporate Secretary
41
Senior Vice President and General Manager, Intuit Financial
Institutions Division
53
Senior Vice President and General Manager, Consumer Group
61
Executive Vice President and General Manager, Small Business Group
56
Senior Vice President and Chief Financial Officer
49
Vice President, Corporate Controller
Table of Contents
EXECUTIVE COMPENSATION
Table of Contents
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
AND RELATED STOCKHOLDER MATTERS
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
PRINCIPAL ACCOUNTANT FEES AND SERVICES
Table of Contents
EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
(a)
The following documents are filed as part of this report:
1.
Financial Statements
See Index to Consolidated Financial Statements in Part II,
Item 8.
2.
Financial Statement Schedules
See Index to Consolidated Financial Statements in
Part II, Item 8.
3.
Exhibits
Incorporated by
Reference
Exhibit
Filed
Number
Exhibit Description
Herewith
Form/File No.
Date
Restated Intuit Certificate of Incorporation, dated
as of January 19, 2000
10-Q
06/14/00
Bylaws of Intuit, as amended and restated effective
May 1, 2002
10-Q
05/31/02
Form of Specimen Certificate for Intuits Common Stock
X
Indenture, dated as of March 7, 2007, between Intuit
and The Bank of New York Trust Company, N.A. as
trustee
8-K
03/07/07
Forms of Global Note for Intuits 5.40% Senior Notes
due 2012 and 5.75% Senior Notes due 2017
8-K
03/12/07
Intuit Inc. 2005 Equity Incentive Plan, as amended
through December 14, 2007
S-8
333-148112
12/17/07
Intuit Inc. 2005 Equity Incentive Plan, as amended
through April 23, 2008
8-K
04/28/08
Intuit Inc. 2005 Equity Incentive Plan, as amended
through December 16, 2008
S-8
333-156205
12/17/08
2005 Equity Incentive Plan Form of Non-Qualified
Stock Option New Hire, Promotion or Retention Grant
10-Q
12/10/04
2005 Equity Incentive Plan Form of Non-Qualified
Stock Option Focal Grant
10-Q
12/10/04
2005 Equity Incentive Plan Form of Restricted Stock
Unit Award Executive Stock Ownership Program
Matching Unit
10-Q
12/10/04
2005 Equity Incentive Plan Form of Non-Qualified
Stock Option Stephen Bennett Grant
10-Q
12/10/04
2005 Equity Incentive Plan Form of Non-Employee
Director Option Initial Grant
10-Q
12/10/04
2005 Equity Incentive Plan Form of Non-Employee
Director Option Succeeding Grant
10-Q
12/10/04
2005 Equity Incentive Plan Form of Non-Employee
Director Option Committee Grant
10-Q
12/10/04
Form of 2009 Performance-Based Restricted Stock Unit
Agreement
8-K
08/17/09
Form of Restricted Stock Unit Award Agreement
(Performance-Based Vesting)
10-K
09/12/08
Form of Restricted Stock Unit Award Agreement
(Service-Based Vesting)
8-K
07/31/06
Intuit Inc. Management Stock Purchase Program, as
amended October 23, 2007
10-K
09/12/08
Form of Restricted Stock Unit Grant Agreement for
MSPP Purchased Award
10-Q
12/01/06
Table of Contents
Incorporated by
Reference
Exhibit
Filed
Number
Exhibit Description
Herewith
Form/File No.
Date
Form of Restricted Stock Unit Grant Agreement for
MSPP Matching Award
10-Q
12/01/06
Form of Performance-based Restricted Stock Unit
Agreement for key employees of Digital Insight
8-K
02/07/07
Digital Insight Corporation 1997 Stock Plan, Form of
Stock Option Agreement under the Digital Insight
Corporation 1997 Stock Plan and the Notice of Grant
of Stock Purchase Right under the Digital Insight
Corporation 1999 Stock Plan
S-1
333-81547
Filed by Digital
Insight
06/25/99
Digital Insight Corporation 1999 Stock Plan and Form
of Stock Option Agreement under the Digital Insight
Corporation 1999 Stock Plan
S-1/A
333-81547
Filed by Digital
Insight
09/13/99
First, Second and Third Amendments to the Digital
Insight Corporation 1999 Stock Plan
10-Q
Filed by Digital
Insight
05/15/01
Homestead.com Incorporated 1996 Stock Option Plan, as
amended
S-8
01/10/08
Form of Stock Option Agreement under the
Homestead.com Incorporated 1996 Stock Option Plan
S-8
01/10/08
Homestead Technologies Inc. 2006 Equity Incentive
Plan, as amended
S-8
01/10/08
Form of Stock Option Agreement and Option Grant
Notice under Homestead Technologies Inc. 2006 Equity
Incentive Plan
S-8
01/10/08
Form of Homestead Technologies Inc. 2006 Equity
Incentive Plan Award Agreement for Restricted Stock
Units
S-8
01/10/08
Form of Intuit Inc. Stock Option Assumption Agreement
S-8
02/09/07
Forms of Restricted Stock Unit Agreements: Intuit
Inc. MSPP Matching Award Agreement; Intuit Inc.
Performance-Based Vesting Agreement; Homestead
Technologies Inc. Service-Based Vesting Agreement;
and Intuit Inc. Service-Based Vesting Agreement
10-Q
12/04/08
PayCycle, Inc. 1999 Equity Incentive Plan, as
amended, effective November 1, 1999.
S-8
08/05/09
Form of Intuit Inc. Stock Option Assumption Agreement
S-8
08/05/09
Form of PayCycle, Inc. 1999 Equity Incentive Plan
Stock Option Agreement
S-8
08/05/09
Form of Executive Promotion/New Hire Stock Option
Agreement
10-K
09/12/08
Form of Executive Restricted Stock Unit Agreement
(performance vesting)
10-K
09/12/08
Intuit Executive Relocation Policy
X
Intuit Inc. 2005 Executive Deferred Compensation
Plan, effective January 1, 2005
10-Q
12/10/04
Intuit 2002 Equity Incentive Plan and related plan
documents, as amended through July 30, 2003
10-K
09/19/03
Intuit 1993 Equity Incentive Plan, as amended through
January 16, 2002
10-Q
02/28/02
Intuit Employee Stock Purchase Plan, as amended
through December 15, 2006
S-8
333-139452
12/18/06
Description of Intuit Inc. Executive Stock Ownership
and Matching Unit Program
10-K
09/26/05
Intuit 1996 Directors Stock Option Plan and forms of
Agreement, as amended by the Board on January 30,
2003
10-Q
02/28/03
Intuit 1998 Option Plan for Mergers and Acquisitions
and form of Agreement, as amended through July 29,
2003
10-K
09/19/03
Intuit Inc. Performance Incentive Plan for Fiscal
Year 2009
8-K
07/25/08
Table of Contents
Incorporated by
Reference
Exhibit
Filed
Number
Exhibit Description
Herewith
Form/File No.
Date
Intuit Inc. Performance Incentive Plan for Fiscal
Year 2010
8-K
08/03/09
Intuit Executive Deferred Compensation Plan,
effective March 15, 2002
10-Q
05/31/02
Intuit Senior Executive Incentive Plan adopted on
December 12, 2002
DEF 14A
Appendix 3
10/23/02
Intuit Senior Executive Incentive Plan adopted on
October 23, 2007
8-K
12/17/07
Form of Indemnification Agreement entered into by
Intuit with each of its directors and certain
officers
10-K
09/25/02
Form of Stock Bonus Agreement (Matching Unit) under
the Intuit 2002 Equity Incentive Plan related to the
Executive Stock Ownership Program
10-Q
12/05/03
Transition Agreement dated August 21, 2007 between
Intuit and Stephen M. Bennett
8-K
08/22/07
Intuit Inc. 2002 Plan Option Grant Agreement between
Stephen M. Bennett and Intuit Inc. dated July 31,
2004
10-Q
12/10/04
Form of Amended and Restated Employment Agreement
dated December 1, 2008 between Intuit Inc. and Kiran
M. Patel
8-K
12/02/09
Amendment dated December 1, 2008 to Letter Regarding
Terms of Employment by and between Intuit Inc. and
Mr. R. Neil Williams dated November 2, 2007
10-Q
12/04/08
Amendment dated December 1, 2008 to Offer Letter
Agreement between Intuit and Alexander M. Lintner
dated June 24, 2005 and accepted by Mr. Lintner on
June 29, 2005
10-Q
12/04/08
Letter Regarding Terms of Employment by and between
Intuit Inc. and Mr. Sasan K. Goodarzi dated May 18,
2004 and Amendment Dated December 1, 2008
10-Q
12/04/08
Amendment dated December 1, 2008 to Letter Regarding
Terms of Employment by and between Intuit Inc. and
Mr. Brad D. Smith dated October 1, 2007
10-Q
12/04/08
Letter Regarding Terms of Employment by and between
Intuit Inc. and Mr. Brad D. Smith, dated October 1,
2007
8-K
10/05/07
Letter Regarding Terms of Employment by and between
Intuit Inc. and Mr. R. Neil Williams, dated
November 2, 2007
8-K
11/08/07
Employment Agreement dated September 2, 2005 between
Intuit and Kiran Patel
8-K
09/08/05
Offer Letter Agreement dated June 24, 2005 between
Intuit and Alexander M. Lintner and accepted by Mr.
Lintner on June 29, 2005
8-K
07/06/05
Director Compensation Agreement between Intuit and
Dennis D. Powell, dated February 11, 2004
10-Q
06/14/04
Five Year Credit Agreement dated as of March 22,
2007, by and among Intuit, the Lenders parties
thereto, JPMorgan Chase Bank, N.A., as syndication
agent, and Citicorp USA, Inc., as administrative
agent
8-K
03/22/07
Free On-Line Electronic Tax Filing Agreement
Amendment, effective as of October 30, 2005 between
the Internal Revenue Service and the Free File
Alliance, LLC
10-Q
12/05/05
Master Services Agreement between Intuit and Arvato
Services, Inc., dated May 28, 2003
10-K
09/19/03
Second Amendment to Master Service Agreement between
Intuit and Arvato Services, Inc., effective May 29,
2007
10-K
09/14/07
Amendment 3 to Master Services Agreement between
Intuit and Arvato Services, Inc., effective April 1,
2008
10-Q
05/30/08
Table of Contents
Incorporated by
Reference
Exhibit
Filed
Number
Exhibit Description
Herewith
Form/File No.
Date
Lease, dated as of March 28, 2005, made by and
between Kilroy Realty, L.P. and Intuit Inc. for
property located on Torrey Santa Fe Road, San Diego
10-Q
06/07/05
First Amendment to Lease, dated as of March 31, 2006,
by and between Intuit and Kilroy Realty, L.P. for
property in San Diego, California
10-Q
06/09/06
Lease Expiration Advancement Agreement effective July
31, 2003 between Intuit and Charleston Properties for
2475, 2500, 2525, 2535 and 2550 Garcia Avenue and
2650, 2675, 2700 and 2750 Coast Avenue, Mountain
View, CA
10-K
09/19/03
Lease Agreement dated as of July 31, 2003 between
Intuit and Charleston Properties for 2475, 2500,
2525, 2535 and 2550 Garcia Avenue, Mountain View, CA
10-K
09/19/03
Lease Agreement dated as of July 31, 2003 between
Intuit and Charleston Properties for 2650, 2675, 2700
and 2750 Coast Avenue and 2600 Casey Avenue, Mountain
View, California
10-K
09/19/03
Lease Agreement dated as of March 29, 1999 between
Intuit and various parties as Landlord for 2632
Marine Way, Mountain View, California
10-K
10/13/01
Standard Office Lease for Calabasas facility dated
August 4, 1997, by and between Arden Realty Limited
Partnership and Digital Insight
S-1
333-81547
Filed by Digital
Insight
09/30/99
Third Amendment dated May 23, 2003 to the Calabasas
Standard Office Lease between Arden Realty Finance
III, LLC and Digital Insight
10-K
Filed by Digital
Insight
03/10/04
Standard Office Lease for Westlake Village facility
dated as of March 6, 2000, by and between Arden
Realty Finance Partnership, LP and Digital Insight
10-Q
Filed by Digital
Insight
05/15/00
Second Amendment dated May 23, 2003 to the Westlake
Village Standard Office Lease between Arden Realty
Finance Partnership, LP and Digital Insight
10-K
Filed by Digital
Insight
03/10/04
Office Lease dated as of November 15, 2006 between
LNR Warner Center IV, LLC and Intuit for 21215
Burbank Boulevard, Woodland Hills, California
10-K
09/12/08
List of Intuits Subsidiaries
X
Consent of Ernst & Young LLP, Independent Registered
Public Accounting Firm
X
Power of Attorney (see signature page)
X
Certification of Chief Executive Officer
X
Certification of Chief Financial Officer
X
Section 1350 Certification (Chief Executive Officer) *
X
Section 1350 Certification (Chief Financial Officer) *
X
+
Indicates a management contract or compensatory plan or arrangement.
#
We have requested confidential treatment for certain portions of this
document pursuant to an application for confidential treatment sent to
the Securities and Exchange Commission (SEC). We omitted such portions
from this filing and filed them separately with the SEC.
*
This certification is not deemed filed for purposes of Section 18 of the Securities
Exchange Act of 1934, or otherwise subject to the liability of that section. Such
certification will not be deemed to be incorporated by reference into any filing under the
Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that
Intuit specifically incorporates it by reference.
(b)
Exhibits
See Item 15(a)(3) above.
(c)
Financial Statement Schedules
See Item 15(a)(2) above.
Table of Contents
INTUIT INC.
Dated: September 15, 2009
By:
/s/ R. NEIL WILLIAMS
R. Neil Williams
Senior Vice President and Chief Financial Officer
(Principal Financial Officer)
Table of Contents
Name
Title
Date
President, Chief Executive Officer
and Director
September 15, 2009
Senior Vice President and Chief
Financial Officer
September 15, 2009
Vice President, Corporate Controller
September 15, 2009
Director
September 15, 2009
Director
September 15, 2009
Chairman of the Board of Directors
September 15, 2009
Director
September 15, 2009
Director
September 15, 2009
Director
September 15, 2009
Director
September 15, 2009
Director
September 15, 2009
Director
September 15, 2009
Director
September 15, 2009
Table of Contents
Exhibit
Number
Exhibit Description
Form of Specimen Certificate for Intuits Common Stock
Intuit Executive Relocation Policy
List of Intuits Subsidiaries
Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm
Power of Attorney (see signature page)
Certification of Chief Executive Officer
Certification of Chief Financial Officer
Section 1350 Certification (Chief Executive Officer) *
Section 1350 Certification (Chief Financial Officer) *
+
Indicates a management contract or compensatory plan or arrangement.
*
This certification is not deemed filed for purposes of Section 18 of the Securities
Exchange Act of 1934, or otherwise subject to the liability of that section. Such
certification will not be deemed to be incorporated by reference into any filing under the
Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that
Intuit specifically incorporates it by reference.
NUMBER | SHARES |
THIS CERTIFIES THAT
|
CUSIP 461202 10 3 | |||
|
||||
|
SEE REVERSE FOR CERTAIN
DEFINITIONS AND LEGENDS |
/s/ BRAD D. SMITH
|
[INTUIT INC. SEAL] |
/s/ JEROME E. NATOLI
|
||
PRESIDENT AND
CHIEF EXECUTIVE OFFICER |
INCORPORATED |
VICE PRESIDENT, FINANCE AND
TREASURER |
||
FEBRUARY 1,
1993 DELAWARE |
UNIF GIFT MIN ACT - | Custodian | |||||||||
(Cust) | (Minor) | |||||||||
under Uniform Gifts to Minors Act | ||||||||||
(State) |
PLEASE INSERT SOCIAL SECURITY OR OTHER | ||||
IDENTIFYING NUMBER OF ASSIGNEE
|
||||
|
||||
|
|
|||
|
|
|
||
|
||
|
NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER. |
EXECUTIVE | August 2009 |
EXECUTIVE | August 2009 |
| You are a director or officer new hire, or a director or officer transferring locations at Intuits request. | ||
| The distance between your new work location and your current residence is fifty (50) miles further than the distance between your current residence and the old work location. | ||
| All relocation expenses must be incurred and submitted for reimbursement within one (1) year from your start date (new hires) or transfer date (internal transfers). |
EXECUTIVE | August 2009 |
| Cost of shipment and 30 day storage of your household goods | ||
| Most travel & lodging expenses relating to reporting to new location |
| Storage over 30 days | ||
| Home finding trip(s) | ||
| Temporary living | ||
| All other relocation reimbursements, including lump sum relocation allowances |
EXECUTIVE | August 2009 |
EXECUTIVE | August 2009 |
| Round trip coach airfare for you and your spouse/domestic partner, and child/children if they accompany you. Intuit Travel will assist with your travel arrangements and can be reached at 1-800-886-3718. | ||
| Reimbursement of expenses for your home/apartment search will be provided for the employee and spouse/domestic partner and child/children, as needed, for two (2) round-trip | ||
| If the employee chooses to drive to the new employment location, mileage will be reimbursed at the prevailing IRS rate. | ||
| Expenses at the new employment location: |
| Intuit will provide for reasonable expenses for lodging. | ||
| Your meals and incidental expenses will be covered at $50 a day for employee or $75 a day if accompanied by spouse/domestic partner plus an additional $25 a day for each child, as needed. | ||
| The rental of a full size automobile will be arranged by Intuit Travel. | ||
| In the event your child/children do not accompany you on the home finding trip, actual and reasonable childcare expenses for your child/children while you are on your home finding trip will be covered, not to exceed ten (10) days in the aggregate. |
EXECUTIVE | August 2009 |
| Competitive rates for transferring employees | ||
| Fixed lender fees | ||
| Pre-approval prior to your home finding trip | ||
| Prompt mortgage approval and processing turn-around times | ||
| Reduced documentation requirements | ||
| Credit of working spouse income | ||
| Availability of variety of mortgage products |
EXECUTIVE | August 2009 |
| Packing, shipping, unpacking and one-time debris removal of boxes | ||
| Shipment of up to three (3) automobiles if the move is over 500 miles, or shipment of two (2) automobiles if the move is less than 500 miles | ||
| Storage of household goods for ninety (90) days | ||
| Full replacement value insurance | ||
| Service charges for disconnecting and reconnecting appliances |
| Shipment of hazardous materials such as explosives, chemicals, flammable materials, firearms, garden chemicals | ||
| Shipment of firewood, lumber or other building materials | ||
| Shipment and/or boarding of household pets and livestock | ||
| Removal or disassembling or installation of carpeting, drapery rods, storage sheds or other permanent fixtures | ||
| Shipment of snowmobiles, boats, motorcycles, recreational vehicles, satellite dishes and unusually heavy or cumbersome materials | ||
| Valuables such as jewelry, currency, dissertations or publishable papers, and other collectibles or items of extraordinary value | ||
| Shipment of plants, food or other perishables | ||
| Overtime charges (time for packing and/or delivery during the evening hours and on the weekends, including all holidays) such charges may be incurred; however, they will be at your own expense |
EXECUTIVE | August 2009 |
EXECUTIVE | August 2009 |
EXECUTIVE | August 2009 |
EXECUTIVE | August 2009 |
| Shipping of items not covered by the Household Goods Shipment provisions described previously | ||
| Removal or installation of articles not paid under the moving guideline | ||
| Charges for transportation or boarding of pets | ||
| Appraisals of antiques or art objects for insurance purposes | ||
| Motor vehicle registration fees | ||
| Cleaning or repairs | ||
| Extermination, fumigation | ||
| Removal, installation of window coverings | ||
| Deposits | ||
| Utility and phone hookups | ||
| Drivers license |
EXECUTIVE | August 2009 |
EXECUTIVE | August 2009 |
|
||||
Employee Signature
|
Date |
Social Security #
Relocation Tax Purposes |
||
|
||||
|
EXECUTIVE | August 2009 |
| A resale plan that significantly reduces the tax burden to you and Intuit | ||
| Selection and management of brokers and other service providers | ||
| Reduced costs and fewer expense reimbursement requests | ||
| Objective advice concerning repairs and remodeling prior to offering home for sale | ||
| Assistance in pricing, resale strategy and negotiations | ||
| Reimbursement (from Intuit) of normal costs to sell the home |
| Seller incentives, such as homeowners association fees, home warranty, decorating allowance or buyers closing costs | ||
| Agent incentives | ||
| Repair allowance | ||
| Staging of the home |
| 2% of the home sale price if the home is under contract within 60 days of the listing date | ||
| 1.5% of the home sale price if the home is under contract between 61 and 90 days of the listing date | ||
| 1% of the home sale price if the home is under contract between 91 and 120 days of the listing date |
EXECUTIVE | August 2009 |
1. | Definition of Eligible Property. To be eligible for Home Sale Assistance, the residence must be a single unit (house), or two family residence, town home or condominium and is the present principal dwelling of the transferring employee. Vacant land, mobile homes, boats, cooperatives, single family dwellings with excess of 5 acres, vacation homes, summer cottages, and property held for investment are not eligible. | ||
2. | Ownership and Title. The home must be the primary residence of the employee, owned by the employee and/or the employees spouse or significant other on the date the employee is requested in writing by Intuit to relocate. The employee must be able to deliver clear title to the property. | ||
3. | Condition and Requirements. The home must meet the following requirements: |
| The home must be completed, that is, not under construction or undergoing renovation. | ||
| The home must be a one-or two-family principal residence. Vacation homes, second homes, mobile homes, vacant land and cooperatives are excluded from eligibility. | ||
| The home must not contain or be built near hazardous materials. |
4. | Real Estate Broker. The real estate broker selected to list the home for sale must be approved by Bristol prior to listing the home, and include an Exclusion Clause in the listing contract (content of waiver will be provided and approved by Bristol). | ||
5. | Pricing of the Home. Bristol will provide the employee with valuation, pricing information, repair and improvement advice prior to placing the primary residence on the market for sale: |
| Two (2) up-front appraisals are required to establish the list price of the property. The Bristol Mobility Advisor will assist throughout the appraisal process in choosing and selecting the appropriate qualified Employee Relocation Council (ERC) Certified Appraisers. Once the appraisals have been completed, the appraiser will return a value to Bristol within 7-10 days and Bristol will review the information and pricing with the employee. If the appraisals are more than 5% apart on value, a third appraisal will be ordered and the average of the two closest appraisals will be used to establish the listing guidelines. The employee then can list the home not to exceed 105% of the average of the two closest appraisals that have been established. Bristol will review the necessary information with the employee to make sure they are following the guidelines. | ||
| In addition to the two appraisals, two (2) Broker Market Analyses (BMAs) will be secured from mutually acceptable real estate brokers at Bristols request and direction. These agents will present marketing material to the employee as well as pricing to Bristol. Bristol will present this information to the employee in helping choose the most appropriate real estate agent. |
EXECUTIVE | August 2009 |
6. | Accepting Sales Offers. When an offer is received on the home, the employee must not sign the offer nor accept any earnest monies from the buyer or broker . Bristol will review the terms and conditions of the offer to ensure that it is bona fide, that the buyer is qualified, and that the terms and net amount of the offer (calculated according to the provisions of this guideline) are acceptable to the employee. If these conditions are met, Bristol will extend to the employee a written contract to purchase the home at an amount and terms equal to the offer. This is known as a Buyer Value Option Sale. This written offer from Bristol is the only contract of sale the employee will sign. | ||
7. | Buyer Value Option Home Sale. Intuit has provided a Bristol administered program as a means of minimizing the tax burden to both Intuit and the employee. Adherence to all steps of the home sale guidelines (i.e., selling the home to Bristol, and their subsequent sale to the buyer) is required to provide the optimum tax advantage and protection on costs to sell the home in the old location. An employees failure to conform fully to the guideline requirements of this section may jeopardize the tax integrity of the program. In the event that an employees actions compromise the tax advantages of the guidelines, the employee will be responsible for the personal income taxes on all reimbursed amounts, and no tax assistance will be provided from company on resale costs. | ||
8. | Loan Payoff. The existing financing on the home, if any, will remain in place at the discretion of Bristol until the sale to the ultimate buyer closes. Bristol will make mortgage payments on behalf of the employee once the home has been sold to Bristol. At closing of the ultimate sale, the loan will be paid in full. | ||
9. | Financial Responsibilities of Employee. The employee is responsible for: |
| All costs of maintaining the home (mortgage, homeowners dues, taxes, insurance, utilities, and maintenance) until the contract date or vacate date, whichever is later, between Bristol and the employee | ||
| Required repairs as a result of the buyers inspection | ||
| Any seller concessions or seller paid discount points for the buyer | ||
| Any costs associated with curing defects in title |
Bristol will account for these costs in their calculation of the employees equity. The employee will not be required to make any up-front payments. Those payments will be made by Bristol on behalf of the employee, from funds withheld from the employees final equity settlement. All equity payments to the employee will be made by Bristol. |
EXECUTIVE | August 2009 |
10. | Financial Responsibilities of Intuit and Bristol. The normal and customary costs to sell the home will be paid by Intuit through Bristol at closing to the ultimate buyer. The employee who utilizes the buyer value home sale provisions of these guidelines will not pay specific costs which include: |
| Standard real estate brokers commission for the area | ||
| Legal, escrow fees, and/or attorneys fees | ||
| Title insurance (if customarily paid by the seller) | ||
| Reasonable closing expenses customarily paid by the seller, to include: |
| Revenue stamps | ||
| Recording fees | ||
| Mortgage cancellation fees | ||
| Transfer taxes | ||
| Lender required inspections | ||
| Application fee | ||
| Mortgage pre-payment penalties up to a maximum of $5,000 |
EXECUTIVE | August 2009 |
| Title insurance (when applicable) | ||
| Transfer taxes (when applicable) | ||
| Reasonable attorney fees | ||
| Real estate appraisal | ||
| Credit report | ||
| Recording fees | ||
| Survey expense (if required) | ||
| Title search, examination and opinion | ||
| State deed tax | ||
| Inspections required by lender, such as pest, structural/mechanical, water/well, septic, and radon, up to a maximum of $500 | ||
| Notary fees |
EXECUTIVE | August 2009 |
| Real estate agents commissions | ||
| Property tax, insurance or interest | ||
| Expenses normally charged to the seller | ||
| Soil reports (geological surveys) | ||
| Home warranty insurance program | ||
| Private mortgage insurance | ||
| Improvement assessments by State, City, County taxing authorities |
EXECUTIVE | August 2009 |
Entity | Formation | |
Apps.com
|
Delaware | |
CBS Corporate Services, Inc.
|
Texas | |
CBS Employer Services, Inc.
|
Texas | |
CBS Properties, Inc.
|
Texas | |
Computing Resources, Inc.
|
Nevada | |
Dallas Innovative Merchant Solutions, LLC
|
Texas | |
Digital Insight Corporation
|
Delaware | |
Electronic Clearing House, Inc.
|
Nevada | |
EmployeeMatters Insurance Agency, Inc.
|
Connecticut | |
Homestead Technologies, Inc.
|
Delaware | |
Innovative Merchant Solutions, LLC
|
California | |
INTU Holdings, Ltd.
|
Mauritius | |
Intuit Administrative Services, Inc.
|
Delaware | |
Intuit Canada ULC
|
Canada | |
Intuit Do-It-Yourself Payroll
|
California | |
Intuit Holding Ltd
|
United Kingdom | |
Intuit India Software Solutions Private Limited
|
India | |
Intuit Limited
|
United Kingdom | |
Intuit Real Estate Solutions (Proprietary) Limited
|
South Africa | |
Intuit Real Estate Solutions Limited
|
United Kingdom | |
Intuit Singapore Pte. Limited
|
Singapore | |
Intuit Technology Services Private Limited
|
India | |
Intuit Ventures Inc.
|
Delaware | |
Investment Solutions Inc.
|
Delaware | |
JGSI Corporation
|
Delaware | |
Lacerte Software Corporate
|
Delaware | |
Lions Partners, LLC
|
Delaware | |
Management Reports International (H.K.) Limited
|
Hong Kong | |
Management Reports International Pte Ltd
|
Singapore | |
Management Reports International PTY Limited
|
Australia | |
MerchantAmerica, Inc.
|
California | |
My Corporation Business Services Inc.
|
California | |
Paycycle, Inc.
|
Delaware | |
Payroll Solution, Inc.
|
Texas | |
Quicken Investment Services, Inc.
|
Delaware | |
SecureTax.com, Inc.
|
Delaware | |
StepUp Commerce, Inc.
|
California | |
Superior Bankcard Service LLC
|
Delaware | |
Xpresschex, Inc.
|
California |
Form S-8 No. | Plan | |
33-59458 |
1988 Option Plan; Intuit Inc. 1993 Equity Incentive Plan; Non-Plan Officer Options
|
|
|
||
33-73222 |
Intuit Inc. 1993 Equity Incentive Plan; Chipsoft Plan
|
|
|
||
33-95040 |
Intuit Inc. 1993 Equity Incentive Plan; Personal News Options
|
|
|
||
333-16827 |
Intuit Inc. 1993 Equity Incentive Plan
|
|
|
||
333-16829 |
Intuit Inc. 1996 Directors Stock Option Plan; Intuit Inc. 1996 Employee Stock
Purchase Plan
|
|
|
||
333-45277 |
Intuit Inc. 1996 Directors Stock Option Plan
|
|
|
||
333-45285 |
Intuit Inc. 1996 Employee Stock Purchase Plan
|
|
|
||
333-45287 |
Intuit Inc. 1993 Equity Incentive Plan
|
|
|
||
333-53322 |
Options Granted Under The Apps.Com, Inc. 1999 Equity Incentive Plan And Assumed
By Intuit Inc.
|
|
|
||
333-51692 |
Intuit Inc. 1996 Employee Stock Purchase Plan
|
|
|
||
333-51694 |
Intuit Inc. 1993 Equity Incentive Plan
|
|
|
||
333-51698 |
Intuit Inc. 1996 Directors Stock Option Plan
|
|
|
||
333-68851 |
Intuit Inc. 1998 Option Plan For Mergers And Acquisitions
|
|
|
||
333-71099 |
Intuit Inc. 1993 Equity Incentive Plan
|
|
|
||
333-71101 |
Intuit Inc. 1996 Directors Stock Option Plan
|
|
|
||
333-71103 |
Intuit Inc. 1996 Employee Stock Purchase Plan
|
|
|
||
333-78041 |
Intuit Inc. 1998 Option Plan For Mergers And Acquisitions
|
|
|
||
333-81324 |
Intuit Inc. 1996 Directors Stock Option Plan
|
Form S-8 No.
Plan
333-81328
333-81446
333-92513
333-92515
333-92517
333-102213
333-112140
333-112170
333-130453
333-137352
333-139452
333-140568
333-148112
333-148580
333-156205
333-161044
Form S-3 No. | Prospectus | |
333-50417 |
$500,000,000 in the aggregate of common stock, preferred stock and debt securities
|
|
|
||
333-63739 |
$500,000,000 in the aggregate of common stock, preferred stock and debt securities
|
|
|
||
333-54610 |
$1,000,000,000 in the aggregate of common stock, preferred stock and debt securities
|
Form S-4 No. | Prospectus | |
|
||
333-71097 |
$500,000,000 in the aggregate of common stock
|
1. | I have reviewed this annual report on Form 10-K of Intuit Inc.; | |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; | |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; | |
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | ||
b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | ||
c. | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and | ||
d. | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter (the registrants fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of registrants board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and | ||
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
By: | /s/ BRAD D. SMITH | |||
Brad D. Smith | ||||
President and Chief Executive Officer (Principal Executive Officer) |
1. | I have reviewed this annual report on Form 10-K of Intuit Inc.; | |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; | |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; | |
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | ||
b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | ||
c. | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and | ||
d. | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter (the registrants fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of registrants board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and | ||
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
By: | /s/ R. NEIL WILLIAMS | |||
R. Neil Williams | ||||
Senior Vice President and Chief Financial Officer
(Principal Financial Officer) |
| The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and | ||
| The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
/s/ BRAD D. SMITH | ||||
Brad D. Smith | ||||
President and Chief Executive
Officer
(Principal Executive Officer) |
| The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and | ||
| The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
/s/ R.NEIL WILLIAMS | ||||
R. Neil Williams | ||||
Senior Vice President and Chief Financial Officer (Principal Financial Officer) |