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<br /> Table of Contents <br />  <br /> Financial Highlights <br /> Fellow Shareholders  <br /> Information Concerning Non‐GAAP Financial Measures Used In This Annual Report (Unaudited) <br /> Total Return To Shareholders (Includes reinvestment of dividends) <br /> Form 10‐K  <br /> Part I <br /> Item 1. Business  <br /> Item 1A. Risk Factors  <br /> Item 1B. Unresolved Staff Comments  <br /> Item 2. Properties  <br /> Item 3. Legal Proceedings  <br /> Item 4. Mine Safety Disclosures <br />  <br /> Part II  <br /> Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities  <br /> Item 6. Selected Financial Data  <br /> Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations  <br /> Item 7A. Quantitative and Qualitative Disclosures About Market Risk  <br /> Item 8. Financial Statements and Schedules  <br /> Item 9. Changes in and Disagreements with Accountants on Account<a title="CTXS-20120424-AR-EJK.pdf page 1" href="http://viewer.zmags.com/publication/e0e9dabc?page=1"> Table of Contents    Financial Highlights  Fel</a> <a title="CTXS-20120424-AR-EJK.pdf page 2" href="http://viewer.zmags.com/publication/e0e9dabc?page=2"> Annual Report 2011 Powering mobile workstyles and</a> <a title="CTXS-20120424-AR-EJK.pdf page 3" href="http://viewer.zmags.com/publication/e0e9dabc?page=3"> FINANCIAL HIGHLIGHTS In thousands, except per </a> <a title="CTXS-20120424-AR-EJK.pdf page 4" href="http://viewer.zmags.com/publication/e0e9dabc?page=4"> Mark Templeton President and CEO Fellow s</a> <a title="CTXS-20120424-AR-EJK.pdf page 5" href="http://viewer.zmags.com/publication/e0e9dabc?page=5"> Citrix has always had a strong sense of purpose, </a> <a title="CTXS-20120424-AR-EJK.pdf page 6" href="http://viewer.zmags.com/publication/e0e9dabc?page=6"> Information Concerning Non-GAAP Financial Measure</a> <a title="CTXS-20120424-AR-EJK.pdf page 7" href="http://viewer.zmags.com/publication/e0e9dabc?page=7"> Pursuant to the requirements of Regulation G, Cit</a> <a title="CTXS-20120424-AR-EJK.pdf page 8" href="http://viewer.zmags.com/publication/e0e9dabc?page=8"> This Annual Report contains forward-looking state</a> <a title="CTXS-20120424-AR-EJK.pdf page 9" href="http://viewer.zmags.com/publication/e0e9dabc?page=9"> Total Return To Shareholders (Includes reinvestme</a> <a title="CTXS-20120424-AR-EJK.pdf page 10" href="http://viewer.zmags.com/publication/e0e9dabc?page=10"> UNITED STATES SEC</a> <a title="CTXS-20120424-AR-EJK.pdf page 11" href="http://viewer.zmags.com/publication/e0e9dabc?page=11"> CITRIX SYSTEMS, INC. TABLE OF CONTENTS Part</a> <a title="CTXS-20120424-AR-EJK.pdf page 12" href="http://viewer.zmags.com/publication/e0e9dabc?page=12"> PART I This Annual Report on Form </a> <a title="CTXS-20120424-AR-EJK.pdf page 13" href="http://viewer.zmags.com/publication/e0e9dabc?page=13"> Products and Services Our products and</a> <a title="CTXS-20120424-AR-EJK.pdf page 14" href="http://viewer.zmags.com/publication/e0e9dabc?page=14"> Citrix Receiver is the client side of X</a> <a title="CTXS-20120424-AR-EJK.pdf page 15" href="http://viewer.zmags.com/publication/e0e9dabc?page=15"> · Citrix® CloudPortal™ is a comprehensive port</a> <a title="CTXS-20120424-AR-EJK.pdf page 16" href="http://viewer.zmags.com/publication/e0e9dabc?page=16"> the following versions: GoToAssist® Expr</a> <a title="CTXS-20120424-AR-EJK.pdf page 17" href="http://viewer.zmags.com/publication/e0e9dabc?page=17"> · Technical Support Services accommodate the u</a> <a title="CTXS-20120424-AR-EJK.pdf page 18" href="http://viewer.zmags.com/publication/e0e9dabc?page=18"> · Branch Repeater SmartAcceleration is</a> <a title="CTXS-20120424-AR-EJK.pdf page 19" href="http://viewer.zmags.com/publication/e0e9dabc?page=19"> Technology Relationships We have a num</a> <a title="CTXS-20120424-AR-EJK.pdf page 20" href="http://viewer.zmags.com/publication/e0e9dabc?page=20"> relationships, including managing non-performing </a> <a title="CTXS-20120424-AR-EJK.pdf page 21" href="http://viewer.zmags.com/publication/e0e9dabc?page=21"> contract manufacturers procures components necess</a> <a title="CTXS-20120424-AR-EJK.pdf page 22" href="http://viewer.zmags.com/publication/e0e9dabc?page=22"> them from our competition. We are also able to bu</a> <a title="CTXS-20120424-AR-EJK.pdf page 23" href="http://viewer.zmags.com/publication/e0e9dabc?page=23"> Proprietary Technology Our success is </a> <a title="CTXS-20120424-AR-EJK.pdf page 24" href="http://viewer.zmags.com/publication/e0e9dabc?page=24"> ITEM 1A. RISK FACTORS Our operating re</a> <a title="CTXS-20120424-AR-EJK.pdf page 25" href="http://viewer.zmags.com/publication/e0e9dabc?page=25"> Solutions offerings are based on this emerging te</a> <a title="CTXS-20120424-AR-EJK.pdf page 26" href="http://viewer.zmags.com/publication/e0e9dabc?page=26"> to develop, additional companies, including compa</a> <a title="CTXS-20120424-AR-EJK.pdf page 27" href="http://viewer.zmags.com/publication/e0e9dabc?page=27"> owners with notice of the breach, legal fees, the</a> <a title="CTXS-20120424-AR-EJK.pdf page 28" href="http://viewer.zmags.com/publication/e0e9dabc?page=28"> subscribers, any of which could materially and ad</a> <a title="CTXS-20120424-AR-EJK.pdf page 29" href="http://viewer.zmags.com/publication/e0e9dabc?page=29"> Our success depends on our ability to attract and</a> <a title="CTXS-20120424-AR-EJK.pdf page 30" href="http://viewer.zmags.com/publication/e0e9dabc?page=30"> · changing restrictions imposed </a> <a title="CTXS-20120424-AR-EJK.pdf page 31" href="http://viewer.zmags.com/publication/e0e9dabc?page=31"> Although we are seeking to diversity our relation</a> <a title="CTXS-20120424-AR-EJK.pdf page 32" href="http://viewer.zmags.com/publication/e0e9dabc?page=32"> and Analysis of Financial Condition and Results o</a> <a title="CTXS-20120424-AR-EJK.pdf page 33" href="http://viewer.zmags.com/publication/e0e9dabc?page=33"> intangible assets associated with our acquisition</a> <a title="CTXS-20120424-AR-EJK.pdf page 34" href="http://viewer.zmags.com/publication/e0e9dabc?page=34"> the laws of the United States and Canada. For exa</a> <a title="CTXS-20120424-AR-EJK.pdf page 35" href="http://viewer.zmags.com/publication/e0e9dabc?page=35"> our proprietary software. In addition</a> <a title="CTXS-20120424-AR-EJK.pdf page 36" href="http://viewer.zmags.com/publication/e0e9dabc?page=36"> operations. For example, hurricanes have passed t</a> <a title="CTXS-20120424-AR-EJK.pdf page 37" href="http://viewer.zmags.com/publication/e0e9dabc?page=37"> financial institutions and a material decline in </a> <a title="CTXS-20120424-AR-EJK.pdf page 38" href="http://viewer.zmags.com/publication/e0e9dabc?page=38"> PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON E</a> <a title="CTXS-20120424-AR-EJK.pdf page 39" href="http://viewer.zmags.com/publication/e0e9dabc?page=39"> ITEM 6. SELECTED FINANCIAL DATA The f</a> <a title="CTXS-20120424-AR-EJK.pdf page 40" href="http://viewer.zmags.com/publication/e0e9dabc?page=40"> ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF F</a> <a title="CTXS-20120424-AR-EJK.pdf page 41" href="http://viewer.zmags.com/publication/e0e9dabc?page=41"> personalization in virtual desktop deployments, a</a> <a title="CTXS-20120424-AR-EJK.pdf page 42" href="http://viewer.zmags.com/publication/e0e9dabc?page=42"> will increase when comparing the first quarter of</a> <a title="CTXS-20120424-AR-EJK.pdf page 43" href="http://viewer.zmags.com/publication/e0e9dabc?page=43"> consolidated statements of income included in thi</a> <a title="CTXS-20120424-AR-EJK.pdf page 44" href="http://viewer.zmags.com/publication/e0e9dabc?page=44"> Note 2 to our consolidated financia</a> <a title="CTXS-20120424-AR-EJK.pdf page 45" href="http://viewer.zmags.com/publication/e0e9dabc?page=45"> earlier of: (i) delivery of those elements or (ii</a> <a title="CTXS-20120424-AR-EJK.pdf page 46" href="http://viewer.zmags.com/publication/e0e9dabc?page=46"> For purposes of determining the expect</a> <a title="CTXS-20120424-AR-EJK.pdf page 47" href="http://viewer.zmags.com/publication/e0e9dabc?page=47"> fair value, we must then use other inputs which m</a> <a title="CTXS-20120424-AR-EJK.pdf page 48" href="http://viewer.zmags.com/publication/e0e9dabc?page=48"> segments. We evaluate goodwill between these segm</a> <a title="CTXS-20120424-AR-EJK.pdf page 49" href="http://viewer.zmags.com/publication/e0e9dabc?page=49"> Results of Operations The following ta</a> <a title="CTXS-20120424-AR-EJK.pdf page 50" href="http://viewer.zmags.com/publication/e0e9dabc?page=50"> subscribers with automatic delivery of unspecifie</a> <a title="CTXS-20120424-AR-EJK.pdf page 51" href="http://viewer.zmags.com/publication/e0e9dabc?page=51"> Technical Services Technica</a> <a title="CTXS-20120424-AR-EJK.pdf page 52" href="http://viewer.zmags.com/publication/e0e9dabc?page=52"> Cost of Net Revenues Cost of product license</a> <a title="CTXS-20120424-AR-EJK.pdf page 53" href="http://viewer.zmags.com/publication/e0e9dabc?page=53"> Research and development expenses incr</a> <a title="CTXS-20120424-AR-EJK.pdf page 54" href="http://viewer.zmags.com/publication/e0e9dabc?page=54"> When comparing the first quarter of 201</a> <a title="CTXS-20120424-AR-EJK.pdf page 55" href="http://viewer.zmags.com/publication/e0e9dabc?page=55"> large number of jurisdictions in which we operate</a> <a title="CTXS-20120424-AR-EJK.pdf page 56" href="http://viewer.zmags.com/publication/e0e9dabc?page=56"> used $457.0 million of cash consisting primarily </a> <a title="CTXS-20120424-AR-EJK.pdf page 57" href="http://viewer.zmags.com/publication/e0e9dabc?page=57"> Our assessment of the significance of </a> <a title="CTXS-20120424-AR-EJK.pdf page 58" href="http://viewer.zmags.com/publication/e0e9dabc?page=58"> Accounts Receivable, Net Accounts receivable</a> <a title="CTXS-20120424-AR-EJK.pdf page 59" href="http://viewer.zmags.com/publication/e0e9dabc?page=59"> make any up-front payments to financial instituti</a> <a title="CTXS-20120424-AR-EJK.pdf page 60" href="http://viewer.zmags.com/publication/e0e9dabc?page=60"> Office Leases We have operating lea</a> <a title="CTXS-20120424-AR-EJK.pdf page 61" href="http://viewer.zmags.com/publication/e0e9dabc?page=61"> interest rates were to increase by 100 basis poin</a> <a title="CTXS-20120424-AR-EJK.pdf page 62" href="http://viewer.zmags.com/publication/e0e9dabc?page=62"> Report of Independent Registered Public Accountin</a> <a title="CTXS-20120424-AR-EJK.pdf page 63" href="http://viewer.zmags.com/publication/e0e9dabc?page=63"> ITEM 9B. OTHER INFORMATION Our policy </a> <a title="CTXS-20120424-AR-EJK.pdf page 64" href="http://viewer.zmags.com/publication/e0e9dabc?page=64"> PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS </a> <a title="CTXS-20120424-AR-EJK.pdf page 65" href="http://viewer.zmags.com/publication/e0e9dabc?page=65"> PART IV ITEM 15. EXHIBITS, FINANCIAL STATEMENT S</a> <a title="CTXS-20120424-AR-EJK.pdf page 66" href="http://viewer.zmags.com/publication/e0e9dabc?page=66"> Exhibit No. Description </a> <a title="CTXS-20120424-AR-EJK.pdf page 67" href="http://viewer.zmags.com/publication/e0e9dabc?page=67"> (b) Exhibits. The Company hereby fi</a> <a title="CTXS-20120424-AR-EJK.pdf page 68" href="http://viewer.zmags.com/publication/e0e9dabc?page=68"> SIGNATURES Pursuant to the require</a> <a title="CTXS-20120424-AR-EJK.pdf page 69" href="http://viewer.zmags.com/publication/e0e9dabc?page=69"> (This page intentionally left blank.)</a> <a title="CTXS-20120424-AR-EJK.pdf page 70" href="http://viewer.zmags.com/publication/e0e9dabc?page=70"> CITRIX SYSTEMS, INC. List of Financial Statement</a> <a title="CTXS-20120424-AR-EJK.pdf page 71" href="http://viewer.zmags.com/publication/e0e9dabc?page=71"> Report of Independent Registered Public Accountin</a> <a title="CTXS-20120424-AR-EJK.pdf page 72" href="http://viewer.zmags.com/publication/e0e9dabc?page=72"> CITRIX SYSTEMS, INC. CONSOLIDATED B</a> <a title="CTXS-20120424-AR-EJK.pdf page 73" href="http://viewer.zmags.com/publication/e0e9dabc?page=73"> CITRIX SYSTEMS, INC. CONSO</a> <a title="CTXS-20120424-AR-EJK.pdf page 74" href="http://viewer.zmags.com/publication/e0e9dabc?page=74"> CITR</a> <a title="CTXS-20120424-AR-EJK.pdf page 75" href="http://viewer.zmags.com/publication/e0e9dabc?page=75"> CITRIX SYSTEMS, INC. CONSOL</a> <a title="CTXS-20120424-AR-EJK.pdf page 76" href="http://viewer.zmags.com/publication/e0e9dabc?page=76"> Accumulated O</a> <a title="CTXS-20120424-AR-EJK.pdf page 77" href="http://viewer.zmags.com/publication/e0e9dabc?page=77"> CITRIX SYSTEMS, INC.</a> <a title="CTXS-20120424-AR-EJK.pdf page 78" href="http://viewer.zmags.com/publication/e0e9dabc?page=78"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 79" href="http://viewer.zmags.com/publication/e0e9dabc?page=79"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 80" href="http://viewer.zmags.com/publication/e0e9dabc?page=80"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 81" href="http://viewer.zmags.com/publication/e0e9dabc?page=81"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 82" href="http://viewer.zmags.com/publication/e0e9dabc?page=82"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 83" href="http://viewer.zmags.com/publication/e0e9dabc?page=83"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 84" href="http://viewer.zmags.com/publication/e0e9dabc?page=84"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 85" href="http://viewer.zmags.com/publication/e0e9dabc?page=85"> advertising was approximately $130.8 million, $12</a> <a title="CTXS-20120424-AR-EJK.pdf page 86" href="http://viewer.zmags.com/publication/e0e9dabc?page=86"> income for the years ended December 31, 2010 and </a> <a title="CTXS-20120424-AR-EJK.pdf page 87" href="http://viewer.zmags.com/publication/e0e9dabc?page=87"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 88" href="http://viewer.zmags.com/publication/e0e9dabc?page=88"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 89" href="http://viewer.zmags.com/publication/e0e9dabc?page=89"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 90" href="http://viewer.zmags.com/publication/e0e9dabc?page=90"> During the first quarter of 2010, the </a> <a title="CTXS-20120424-AR-EJK.pdf page 91" href="http://viewer.zmags.com/publication/e0e9dabc?page=91"> of December 31, 2011 and 2010, respectively, whic</a> <a title="CTXS-20120424-AR-EJK.pdf page 92" href="http://viewer.zmags.com/publication/e0e9dabc?page=92"> Assets and Liabilities Measured at Fair Value on </a> <a title="CTXS-20120424-AR-EJK.pdf page 93" href="http://viewer.zmags.com/publication/e0e9dabc?page=93"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 94" href="http://viewer.zmags.com/publication/e0e9dabc?page=94"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 95" href="http://viewer.zmags.com/publication/e0e9dabc?page=95"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 96" href="http://viewer.zmags.com/publication/e0e9dabc?page=96"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 97" href="http://viewer.zmags.com/publication/e0e9dabc?page=97"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 98" href="http://viewer.zmags.com/publication/e0e9dabc?page=98"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 99" href="http://viewer.zmags.com/publication/e0e9dabc?page=99"> The Company has operating lease obl</a> <a title="CTXS-20120424-AR-EJK.pdf page 100" href="http://viewer.zmags.com/publication/e0e9dabc?page=100"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 101" href="http://viewer.zmags.com/publication/e0e9dabc?page=101"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 102" href="http://viewer.zmags.com/publication/e0e9dabc?page=102"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 103" href="http://viewer.zmags.com/publication/e0e9dabc?page=103"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 104" href="http://viewer.zmags.com/publication/e0e9dabc?page=104"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 105" href="http://viewer.zmags.com/publication/e0e9dabc?page=105"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 106" href="http://viewer.zmags.com/publication/e0e9dabc?page=106"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 107" href="http://viewer.zmags.com/publication/e0e9dabc?page=107"> CITRIX SYSTEMS</a> <a title="CTXS-20120424-AR-EJK.pdf page 108" href="http://viewer.zmags.com/publication/e0e9dabc?page=108"> CITRIX SYSTEM</a> <a title="CTXS-20120424-AR-EJK.pdf page 109" href="http://viewer.zmags.com/publication/e0e9dabc?page=109"> CITRIX SYSTEMS, INC. SCHEDULE II VALUATION AND QU</a> <a title="CTXS-20120424-AR-EJK.pdf page 110" href="http://viewer.zmags.com/publication/e0e9dabc?page=110"> EXHIBIT INDEX Exhibit No. Description </a> <a title="CTXS-20120424-AR-EJK.pdf page 111" href="http://viewer.zmags.com/publication/e0e9dabc?page=111"> Exhibit No. Description </a> <a title="CTXS-20120424-AR-EJK.pdf page 112" href="http://viewer.zmags.com/publication/e0e9dabc?page=112"> Exhibit 31.1 CERTIFICATIONS I, Mark B. Templeton,</a> <a title="CTXS-20120424-AR-EJK.pdf page 113" href="http://viewer.zmags.com/publication/e0e9dabc?page=113"> Exhibit 31.2 CERTIFICATIONS I, David J. Henshal</a> <a title="CTXS-20120424-AR-EJK.pdf page 114" href="http://viewer.zmags.com/publication/e0e9dabc?page=114"> Exhibit 32.1 CERTIFIC</a> <a title="CTXS-20120424-AR-EJK.pdf page 115" href="http://viewer.zmags.com/publication/e0e9dabc?page=115"> (This page intentionally left blank.)</a> <a title="CTXS-20120424-AR-EJK.pdf page 116" href="http://viewer.zmags.com/publication/e0e9dabc?page=116"> (This page intentionally left blank.)</a> <a title="CTXS-20120424-AR-EJK.pdf page 117" href="http://viewer.zmags.com/publication/e0e9dabc?page=117"> (This page intentionally left blank.)</a> <a title="CTXS-20120424-AR-EJK.pdf page 118" href="http://viewer.zmags.com/publication/e0e9dabc?page=118"> Corporate Information Citrix Systems, Inc. (NASD</a> <a title="CTXS-20120424-AR-EJK.pdf page 119" href="http://viewer.zmags.com/publication/e0e9dabc?page=119"> </a>