EX-99.2 3 dex992.htm FINANCIAL TABLES FOR THE QUARTER ENDED JUNE 30, 2009 Financial tables for the quarter ended June 30, 2009

Exhibit 99.2

Google Inc.

CONSOLIDATED BALANCE SHEETS

(In thousands)

 

     December 31,
2008*
   June 30,
2009
          (unaudited)

Assets

     

Current assets:

     

Cash and cash equivalents

   $ 8,656,672    $ 11,911,351

Marketable securities

     7,189,099      7,432,655

Accounts receivable, net of allowance

     2,642,192      2,701,912

Deferred income taxes, net

     286,105      575,976

Income taxes receivable, net

     —        145,843

Prepaid revenue share, expenses and other assets

     1,404,114      1,067,116
             

Total current assets

     20,178,182      23,834,853

Prepaid revenue share, expenses and other assets, non-current

     433,846      406,136

Deferred income taxes, net, non-current

     —        124,647

Non-marketable equity securities

     85,160      93,925

Property and equipment, net

     5,233,843      5,005,900

Intangible assets, net

     996,690      856,386

Goodwill

     4,839,854      4,836,913
             

Total assets

   $ 31,767,575    $ 35,158,760
             

Liabilities and Stockholders’ Equity

     

Current liabilities:

     

Accounts payable

   $ 178,004    $ 221,914

Accrued compensation and benefits

     811,643      589,862

Accrued expenses and other current liabilities

     480,263      411,226

Accrued revenue share

     532,547      550,199

Deferred revenue

     218,084      227,761

Income taxes payable, net

     81,549      —  
             

Total current liabilities

     2,302,090      2,000,962

Deferred revenue, non-current

     29,818      31,675

Income taxes payable, net, non-current

     890,115      1,232,984

Deferred income taxes, net, non-current

     12,515      —  

Other long-term liabilities

     294,175      298,283

Stockholders’ equity:

     

Common stock

     315      316

Additional paid-in capital

     14,450,338      15,044,103

Accumulated other comprehensive income

     226,579      81,434

Retained earnings

     13,561,630      16,469,003
             

Total stockholders’ equity

     28,238,862      31,594,856
             

Total liabilities and stockholders’ equity

   $ 31,767,575    $ 35,158,760
             

 

*  Derived from audited financial statements.

     


Google Inc.

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share amounts)

 

     Three Months Ended
June 30,
    Six Months Ended
June 30,
 
     2008    2009     2008    2009  
     (unaudited)  

Revenues

   $ 5,367,212    $ 5,522,897      $ 10,553,255    $ 11,031,887   

Costs and expenses:

          

Cost of revenues (including stock-based compensation expense of $9,363, $13,592, $18,511, $26,129)

     2,147,575      2,107,971        4,258,111      4,209,475   

Research and development (including stock-based compensation expense of $187,281, $182,209, $381,081, $350,770)

     682,210      707,626        1,355,279      1,349,269   

Sales and marketing (including stock-based compensation expense of $42,593, $57,294, $85,169, $116,320)

     484,552      469,039        931,450      902,980   

General and administrative (including stock-based compensation expense of $33,539, $39,975, $68,794, $77,334)

     474,910      364,367        884,215      812,678   
                              

Total costs and expenses

     3,789,247      3,649,003        7,429,055      7,274,402   
                              

Income from operations

     1,577,965      1,873,894        3,124,200      3,757,485   

Interest and other income (expense), net

     57,923      (17,718     225,266      (11,508
                              

Income before income taxes

     1,635,888      1,856,176        3,349,466      3,745,977   

Provision for income taxes

     388,497      371,631        794,989      838,604   
                              

Net income

   $ 1,247,391    $ 1,484,545      $ 2,554,477    $ 2,907,373   
                              

Net income per share - basic

   $ 3.97    $ 4.70      $ 8.15    $ 9.21   
                              

Net income per share - diluted

   $ 3.92    $ 4.66      $ 8.04    $ 9.15   
                              

Shares used in per share calculation - basic

     313,817      315,901        313,473      315,576   
                              

Shares used in per share calculation - diluted

     318,023      318,536        317,708      317,878   
                              


Google Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

 

     Three Months Ended
June 30,
    Six Months Ended
June 30,
 
     2008     2009     2008     2009  
     (unaudited)  

Operating activities

        

Net income

   $ 1,247,391      $ 1,484,545      $ 2,554,477      $ 2,907,373   

Adjustments:

        

Depreciation and amortization of property and equipment

     308,716        310,982        589,280        632,111   

Amortization of intangibles and other

     82,891        65,975        138,851        148,068   

Stock-based compensation expense

     272,776        293,070        553,555        570,553   

Excess tax benefits from stock-based award activities

     (43,878     (4,515     (94,979     (36,359

Deferred income taxes

     (67,676     (101,584     (105,890     (114,431

Other, net

     20,245        (1,678     (24,658     (23,087

Changes in assets and liabilities, net of effects of acquisitions:

        

Accounts receivable

     (72,883     (139,118     (296,376     (41,728

Income taxes, net

     90,184        (388,271     528,359        (63,518

Prepaid revenue share, expenses and other assets

     (141,219     10,338        (182,803     87,795   

Accounts payable

     (14,547     19,936        39,237        41,815   

Accrued expenses and other liabilities

     87,026        41,172        (147,251     (281,167

Accrued revenue share

     (6,326     14,859        (16,450     19,123   

Deferred revenue

     3,454        3,461        10,248        12,136   
                                

Net cash provided by operating activities

     1,766,154        1,609,172        3,545,600        3,858,684   
                                

Investing activities

        

Purchases of property and equipment

     (697,517     (139,437     (1,539,114     (402,192

Purchases of marketable securities

     (2,101,798     (5,390,722     (4,921,310     (10,635,567

Maturities and sales of marketable securities

     2,037,331        5,325,719        7,416,559        10,435,309   

Investments in non-marketable equity securities

     (10,554     (9,681     (9,492     (28,431

Acquisitions, net of cash acquired, and purchases of intangible and other assets

     (186,095     (3,021     (3,312,270     (5,093
                                

Net cash used in investing activities

     (958,633     (217,142     (2,365,627     (635,974
                                

Financing activities

        

Net (payments) proceeds related to stock-based award activities

     (301     46,731        (22,746     9,995   

Excess tax benefits from stock-based award activities

     43,878        4,515        94,979        36,359   
                                

Net cash provided by financing activities

     43,577        51,246        72,233        46,354   
                                

Effect of exchange rate changes on cash and cash equivalents

     (7,311     41,784        29,737        (14,385

Net increase in cash and cash equivalents

     843,787        1,485,060        1,281,943        3,254,679   

Cash and cash equivalents at beginning of period

     6,519,749        10,426,291        6,081,593        8,656,672   
                                

Cash and cash equivalents at end of period

   $ 7,363,536      $ 11,911,351      $ 7,363,536      $ 11,911,351   
                                


The following table presents our revenues by revenue source (in thousands, unaudited):

 

     Three Months Ended
June 30,
    Six Months Ended
June 30,
 
     2008     2009     2008     2009  

Advertising revenues:

        

Google web sites

   $ 3,530,145      $ 3,652,628      $ 6,930,550      $ 7,345,451   

Google Network web sites

     1,655,280        1,683,500        3,341,421        3,321,542   
                                

Total advertising revenues

     5,185,425        5,336,128        10,271,971        10,666,993   

Licensing and other revenues

     181,787        186,769        281,284        364,894   
                                

Revenues

   $ 5,367,212      $ 5,522,897      $ 10,553,255      $ 11,031,887   
                                

 

The following table presents our revenues, by revenue source, as a percentage of total revenues (unaudited):

 

  

     Three Months Ended
June 30,
    Six Months Ended
June 30,
 
     2008     2009     2008     2009  

Advertising revenues:

        

Google web sites

     66     66     66     67

Google Network web sites

     31     31     31     30
                                

Total advertising revenues

     97     97     97     97

Licensing and other revenues

     3     3     3     3
                                

Revenues

     100     100     100     100