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PART I—FINANCIAL INFORMATION ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ADOBE SYSTEMS INCORPORATED CONDENSED C

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Content	PART I—FINANCIAL INFORMATION ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ADOBE SYSTEMS INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) (Unaudited) June 4,November 28,20042003 ASSETS Current assets: Cash and cash equivalents.$218,664$189,917 Short-term investments.1,062,555906,616 Trade receivables, net.105,654146,311 Other receivables.37,88127,731 Deferred income taxes.31,96135,875 Other current assets.27,92422,578 Total current assets.1,484,6391,329,028 Property and equipment, net.84,71377,007 Goodwill.110,23295,971 Purchased and other intangibles, net.14,81215,318 Other assets.38,73137,721 Total assets.$1,733,127$1,555,045 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Trade and other payables.$33,133$37,437 Accrued expenses.188,852160,009 Income taxes payable.154,248193,484 Deferred revenue.44,78045,600 Total current liabilities.421,013436,530 Deferred income taxes.49,86217,715 Commitments and contingencies Stockholders’ equity: Common stock, $0.0001 par value.29,57629,576 Additional paid-in-capital.953,195874,126 Retained earnings.2,026,8671,800,398 Accumulated other comprehensive loss.(4,420)(999) Treasury stock, at cost, (57,011 and 57,464 shares in 2004 and 2003, respectively), net of re-issuances.(1,742,966)(1,602,301) Stockholders’ equity.1,262,2521,100,800 Total liabilities and stockholders’ equity.$1,733,127$1,555,045 See accompanying Notes to Condensed Consolidated Financial Statements. 3
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