Microsoft forecast revenue of between $10.75 billion and $11.15 billion for the unit containing Windows in the fiscal third quarter, a wider-than-normal forecast range that the company said was because of uncertainty surrounding the spread of the coronavirus in China. Select Plus agreements are designed for government and academic organizations to acquire on-premises licenses at any affiliate or department level, while realizing advantages as one organization. We license software to organizations under volume licensing agreements to allow the customer to acquire multiple licenses of products and services instead of having to acquire separate licenses through retail channels.
Since fiscal 2016, we have increased the number of women corporate vice presidents by 152 percent. The decrease in our effective tax rate for fiscal year 2019 compared to fiscal year 2018 was primarily due to the net charge related to the enactment of the TCJA in the second quarter of fiscal year 2018, and a $2.6 billion net income tax benefit in the fourth quarter of fiscal year 2019 related to intangible property transfers.
Chief Executive Officer, Amy E. Hood You may opt-out by, Principal Analyst and Technology Futurist at Atherton Research, ago, he quickly hit refresh, pivoting the company's vision and efforts towards a mobile-first and cloud-first strategy. The impact on our consolidated balance sheets upon adoption was not material. Satya Nadella Today, cloud computing is clearly the foundation of Microsoft's growth strategy—as of this writing, the software giant is the most valuable company on earth surpassing $1 trillion in market capitalization—betting on the development and acquisition of open source and cloud-based technologies including Linux, Cloudyn, Cycle Computing, Bonsai, GitHub, BlueTalon, and PromoteIQ while de-emphasizing Windows' dominance inside the technology giant headquartered in Redmond, Washington. Certain cloud services, primarily Office 365, depend on a significant level of integration, interdependency, and interrelation between the desktop applications and cloud services, and are accounted for together as one performance obligation. These non-GAAP financial measures presented should not be considered a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. In the fourth quarter of fiscal year 2019, in response to the TCJA and recently issued regulations, we transferred certain intangible properties held by our foreign subsidiaries to the U.S. and Ireland, which resulted in a $2.6 billion net income tax benefit. While our main research and development facilities are located in Redmond, Washington, we also operate research and development facilities in other parts of the U.S. and around the world, including Canada, China, Czech Republic, India, Ireland, Israel, and the United Kingdom. Our approach to privacy and data protection is grounded in our belief that customers own their own data and ensuring any product or service we provide is built with privacy by design from the ground up. We use a single amount to estimate SSP for items that are not sold separately, including on-premises licenses sold with SA or software updates provided at no additional charge. Microsoft 365 empowers everyone â enterprises, small businesses, and firstline workers â with an integrated, secure experience that transcends any one device. Net recognized gains on investments decreased primarily due to higher losses on sales of fixed-income securities, offset in part by higher gains on sales of equity securities. Physical and virtual worlds are coming together with the Internet of Things (âIoTâ) and mixed reality to create richer experiences that understand the context surrounding people, the things they use, the places they go, and their activities and relationships. Windows OEM revenue increased 4%.
Server products revenue increased 6%, due to continued demand for premium versions and hybrid solutions, GitHub, and demand ahead of end-of-support for SQL Server 2008 and Windows Server 2008. By the end of this year, we will achieve our target of powering our datacenters with 60 percent renewable energy and will aim to reach 70 percent renewable energy within the next four years.
Securities held in our fixed-income portfolio are subject to different interest rate risks based on their maturities. On December 8, 2016, we completed our acquisition of all issued and outstanding shares of LinkedIn Corporation (âLinkedInâ), the worldâs largest professional network on the Internet, for a total purchase price of $27.0 billion. All deferred income taxes are classified as long-term in our consolidated balance sheets. Under GAAP, we can make an accounting policy election to either treat taxes due on the GILTI inclusion as a current period expense or factor such amounts into our measurement of deferred taxes.
GitHub is reported as part of our Intelligent Cloud segment. Visual Studio and Visual Studio Code are now the most popular code-editing tools in the world. Office Consumer Services revenue is mainly affected by the demand for communication and storage through Skype, Outlook.com, and OneDrive, which is largely driven by subscriptions, advertising, and the sale of minutes.
Contracted not recognized revenue was $91 billion as of June 30, 2019, of which we expect to recognize approximately 50% of the revenue over the next 12 months and the remainder thereafter. We determine if an arrangement is a lease at inception. Our principal audit procedures related to the Companyâs revenue recognition for these customer agreements included the following: Income Taxes â Uncertain Tax Positions â Refer to Note 12 to the Financial Statements. It empowers people with AI-first interfaces ranging from voice-activated commands through Cortana, inking, immersive 3D content storytelling, and mixed reality experiences. The components of the deferred income tax assets and liabilities were as follows: Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases and are stated at enacted tax rates expected to be in effect when the taxes are paid or recovered. Apple Inc. overtook Microsoft as the most valuable publicly traded U.S. company earlier this month. As of June 30, 2019, the total carrying value and estimated fair value of our long-term debt, including the current portion, were $72.2 billion and $78.9 billion, respectively. In short, we see corporate responsibility as both a responsibility and an opportunity to work together to advance societal needs and technology at the same time.
Additional information on our operating segments and geographic and product information is contained in Note 20 â Segment Information and Geographic Data of the Notes to Financial Statements. We also fund research and development activities at the operating segment level. Gross margin percentage increased slightly, due to a sales mix shift to higher gross margin businesses in Windows and Gaming. We believe our continuing research and product development are not materially dependent on any single license or other agreement with a third party relating to the development of our products. Marketing Solutions competes with online and offline outlets that generate revenue from advertisers and marketers.
Stock-based compensation expense and related income tax benefits were as follows: Stock awards entitle the holder to receive shares of Microsoft common stock as the award vests.
General and administrative expenses include payroll, employee benefits, stock-based compensation expense, severance expense, and other headcount-related expenses associated with finance, legal, facilities, certain human resources and other administrative personnel, certain taxes, and legal and other administrative fees. Gross margin included a 7 percentage point improvement in commercial cloud, primarily from Azure. And weâve taken new steps over the past year to align our carbon-reduction efforts with the latest climate science by setting a goal to reduce our operational emissions by 75 percent by 2030, which puts us on a path to exceed the ambitions of the Paris Accord two decades ahead of schedule.
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