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

Exhibit 99.2

Google Inc.

CONSOLIDATED BALANCE SHEETS

(In thousands)

 

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

Assets

     

Current assets:

     

Cash and cash equivalents

   $ 8,656,672    $ 12,087,115

Marketable securities

     7,189,099      9,907,276

Accounts receivable, net of allowance

     2,642,192      2,807,341

Deferred income taxes, net

     286,105      663,446

Income taxes receivable, net

     —        72,263

Prepaid revenue share, expenses and other assets

     1,404,114      816,103
             

Total current assets

     20,178,182      26,353,544

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

     433,846      415,137

Deferred income taxes, net, non-current

     —        233,836

Non-marketable equity securities

     85,160      110,372

Property and equipment, net

     5,233,843      4,917,491

Intangible assets, net

     996,690      823,248

Goodwill

     4,839,854      4,849,217
             

Total assets

   $ 31,767,575    $ 37,702,845
             

Liabilities and Stockholders’ Equity

     

Current liabilities:

     

Accounts payable

   $ 178,004    $ 192,743

Accrued compensation and benefits

     811,643      831,205

Accrued expenses and other current liabilities

     480,263      446,322

Accrued revenue share

     532,547      599,283

Deferred revenue

     218,084      252,221

Income taxes payable, net

     81,549      —  
             

Total current liabilities

     2,302,090      2,321,774

Deferred revenue, non-current

     29,818      35,846

Income taxes payable, net, non-current

     890,115      1,318,315

Deferred income taxes, net, non-current

     12,515      —  

Other long-term liabilities

     294,175      305,157

Stockholders’ equity:

     

Common stock

     315      317

Additional paid-in capital

     14,450,338      15,380,673

Accumulated other comprehensive income

     226,579      232,785

Retained earnings

     13,561,630      18,107,978
             

Total stockholders’ equity

     28,238,862      33,721,753
             

Total liabilities and stockholders’ equity

   $ 31,767,575    $ 37,702,845
             

 

* Derived from audited financial statements.


Google Inc.

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share amounts)

 

     Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
     2008    2009     2008    2009  
     (unaudited)  

Revenues

   $ 5,541,391    $ 5,944,851      $ 16,094,646    $ 16,976,738   

Costs and expenses:

          

Cost of revenues (including stock-based compensation expense of $10,729, $14,871, $29,240, $41,000)

     2,173,390      2,226,240        6,431,501      6,435,715   

Research and development (including stock-based compensation expense of $169,263, $195,624, $550,343, $546,394)

     704,571      757,524        2,059,851      2,106,793   

Sales and marketing (including stock-based compensation expense of $64,497, $62,260, $149,666, $178,580)

     508,801      497,812        1,440,252      1,400,792   

General and administrative (including stock-based compensation expense of $35,550, $44,772, $104,345, $122,106)

     507,064      389,557        1,391,278      1,202,235   
                              

Total costs and expenses

     3,893,826      3,871,133        11,322,882      11,145,535   
                              

Income from operations

     1,647,565      2,073,718        4,771,764      5,831,203   

Interest and other income (expense), net

     21,217      (7,177     246,485      (18,685
                              

Income before income taxes

     1,668,782      2,066,541        5,018,249      5,812,518   

Provision for income taxes

     378,844      427,566        1,173,833      1,266,170   
                              

Net income

   $ 1,289,938    $ 1,638,975      $ 3,844,416    $ 4,546,348   
                              

Net income per share - basic

   $ 4.10    $ 5.18      $ 12.25    $ 14.39   
                              

Net income per share - diluted

   $ 4.06    $ 5.13      $ 12.10    $ 14.27   
                              

Shares used in per share calculation - basic

     314,241      316,497        313,729      315,883   
                              

Shares used in per share calculation - diluted

     317,776      319,746        317,730      318,501   
                              


Google Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

 

     Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
     2008     2009     2008     2009  
     (unaudited)  

Operating activities

        

Net income

   $ 1,289,938      $ 1,638,975      $ 3,844,416      $ 4,546,348   

Adjustments:

        

Depreciation and amortization of property and equipment

     309,482        311,102        898,762        943,213   

Amortization of intangibles and other

     76,764        67,521        215,615        215,589   

Stock-based compensation expense

     280,039        317,527        833,594        888,080   

Excess tax benefits from stock-based award activities

     (19,791     (28,034     (114,770     (64,393

Deferred income taxes

     (18,707     (173,907     (124,597     (288,338

Other, net

     10,169        (3,251     (14,488     (26,338

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

        

Accounts receivable

     78,049        (84,951     (218,326     (126,679

Income taxes, net

     24,314        160,621        552,673        97,103   

Prepaid revenue share, expenses and other assets

     12,844        225,663        (169,959     313,458   

Accounts payable

     (191,402     (32,500     (152,165     9,315   

Accrued expenses and other liabilities

     310,133        266,892        162,882        (14,275

Accrued revenue share

     12,017        37,884        (4,433     57,007   

Deferred revenue

     11,106        22,441        21,354        34,577   
                                

Net cash provided by operating activities

     2,184,955        2,725,983        5,730,558        6,584,667   
                                

Investing activities

        

Purchases of property and equipment

     (451,503     (186,339     (1,990,617     (588,531

Purchases of marketable securities

     (2,892,983     (8,951,434     (7,814,293     (19,587,001

Maturities and sales of marketable securities

     2,218,344        6,580,274        9,634,903        17,015,583   

Investments in non-marketable equity securities

     (35,377     (17,510     (44,869     (45,941

Acquisitions, net of cash acquired and proceeds received from divestiture, and purchases of intangible and other assets

     24,562        (34,980     (3,287,708     (40,073
                                

Net cash used in investing activities

     (1,136,957     (2,609,989     (3,502,584     (3,245,963
                                

Financing activities

        

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

     (15,506     463        (38,252     10,458   

Excess tax benefits from stock-based award activities

     19,791        28,034        114,770        64,393   
                                

Net cash provided by financing activities

     4,285        28,497        76,518        74,851   
                                

Effect of exchange rate changes on cash and cash equivalents

     (45,350     31,273        (15,616     16,888   

Net increase in cash and cash equivalents

     1,006,933        175,764        2,288,876        3,430,443   

Cash and cash equivalents at beginning of period

     7,363,536        11,911,351        6,081,593        8,656,672   
                                

Cash and cash equivalents at end of period

   $ 8,370,469      $ 12,087,115      $ 8,370,469      $ 12,087,115   
                                


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

 

     Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
     2008     2009     2008     2009  

Advertising revenues:

        

Google web sites

   $ 3,672,111      $ 3,955,731      $ 10,602,660      $ 11,301,182   

Google Network web sites

     1,679,861        1,800,890        5,021,283        5,122,432   
                                

Total advertising revenues

     5,351,972        5,756,621        15,623,943        16,423,614   

Licensing and other revenues

     189,419        188,230        470,703        553,124   
                                

Revenues

   $ 5,541,391      $ 5,944,851      $ 16,094,646      $ 16,976,738   
                                
The following table presents our revenues, by revenue source, as a percentage of total revenues (unaudited):   
     Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
     2008     2009     2008     2009  

Advertising revenues:

        

Google web sites

     67     67     66     67

Google Network web sites

     30     30     31     30
                                

Total advertising revenues

     97     97     97     97

Licensing and other revenues

     3     3     3     3
                                

Revenues

     100     100     100     100