ADOBE INC. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTSOF OPERATIONS (form 10-K)

ADBE

See Note 1 of our Notes to Consolidated Financial Statements for information regarding recent accounting pronouncements that are of significance, or potential significance to us.

See Note 3 of our Notes to Consolidated Financial Statements for further information regarding these acquisitions .

current fiscal year are based on currency rates set at the beginning of the year and held constant throughout the year. We calculate ARR as follows:

Segments

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12 %

Base compensation and related benefits associated with headcount

5

Product

6

Sales and marketing expenses increased due to the following:

Marketing spend related to campaigns, events and overall marketing efforts

9 %

Total non-operating income (expense), net $ (97) $ (61) $

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See Note 10 of our Notes to Consolidated Financial Statements for further informatio n regarding o ur provision for (benefit from) income taxes.

A summary of our cash flows for fiscal 2021, 2020 and 2019 is as follows: (in millions)

Effect of foreign currency exchange rates on cash and cash equivalents

Net increase (decrease) in cash and cash equivalents $ (634) $

1,828 $ 1,007

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