EX-99.2 3 dex992.htm FINANCIAL TABLES FOR THE QUARTER AND THE FISCAL YEAR ENDED DECEMBER 31, 2009 Financial tables for the quarter and the fiscal year ended December 31, 2009

Exhibit 99.2

Google Inc.

CONSOLIDATED BALANCE SHEETS

(In thousands)

 

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

Assets

     

Current assets:

     

Cash and cash equivalents

   $ 8,656,672    $ 10,197,588

Marketable securities

     7,189,099      14,287,187

Accounts receivable, net of allowance

     2,642,192      3,178,471

Deferred income taxes, net

     286,105      644,406

Income taxes receivable, net

     —        23,244

Prepaid revenue share, expenses and other assets

     1,404,114      836,062
             

Total current assets

     20,178,182      29,166,958

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

     433,846      416,119

Deferred income taxes, net, non-current

     —        262,611

Non-marketable equity securities

     85,160      128,977

Property and equipment, net

     5,233,843      4,844,610

Intangible assets, net

     996,690      774,938

Goodwill

     4,839,854      4,902,565
             

Total assets

   $ 31,767,575    $ 40,496,778
             

Liabilities and Stockholders’ Equity

     

Current liabilities:

     

Accounts payable

   $ 178,004    $ 215,867

Accrued compensation and benefits

     811,643      982,482

Accrued expenses and other current liabilities

     480,263      570,080

Accrued revenue share

     532,547      693,958

Deferred revenue

     218,084      285,080

Income taxes payable, net

     81,549      —  
             

Total current liabilities

     2,302,090      2,747,467

Deferred revenue, non-current

     29,818      41,618

Income taxes payable, net, non-current

     890,115      1,392,468

Deferred income taxes, net, non-current

     12,515      —  

Other long-term liabilities

     294,175      311,001

Stockholders’ equity:

     

Common stock

     315      318

Additional paid-in capital

     14,450,338      15,816,738

Accumulated other comprehensive income

     226,579      105,090

Retained earnings

     13,561,630      20,082,078
             

Total stockholders’ equity

     28,238,862      36,004,224
             

Total liabilities and stockholders’ equity

   $ 31,767,575    $ 40,496,778
             

 

* Derived from audited financial statements.


Google Inc.

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share amounts)

 

     Three Months Ended
December 31,
   Twelve Months Ended
December 31,
     2008     2009    2008*     2009
     (unaudited)          (unaudited)

Revenues

   $ 5,700,904      $ 6,673,825    $ 21,795,550      $ 23,650,563

Costs and expenses:

         

Cost of revenues (including stock-based compensation expense of $12,099, $6,051, $41,340, $47,051)

     2,190,005        2,408,400      8,621,506        8,844,115

Research and development (including stock-based compensation expense of $182,075, $178,948, $732,418, $725,342)

     733,342        736,234      2,793,192        2,843,027

Sales and marketing (including stock-based compensation expense of $56,354, $52,439, $206,020, $231,019)

     505,993        583,149      1,946,244        1,983,941

General and administrative (including stock-based compensation expense of $35,644, $38,536, $139,988, $160,642)

     411,360        465,059      1,802,639        1,667,294
                             

Total costs and expenses

     3,840,700        4,192,842      15,163,581        15,338,377
                             

Income from operations

     1,860,204        2,480,983      6,631,969        8,312,186

Impairment of equity investments

     (1,094,757     —        (1,094,757     —  

Interest income and other, net

     69,899        87,688      316,384        69,003
                             

Income before income taxes

     835,346        2,568,671      5,853,596        8,381,189

Provision for income taxes

     452,904        594,571      1,626,738        1,860,741
                             

Net income

   $ 382,442      $ 1,974,100    $ 4,226,858      $ 6,520,448
                             

Net income per share - basic

   $ 1.22      $ 6.22    $ 13.46      $ 20.62
                             

Net income per share - diluted

   $ 1.21      $ 6.13    $ 13.31      $ 20.41
                             

Shares used in per share calculation - basic

     314,651        317,237      313,959        316,221
                             

Shares used in per share calculation - diluted

     316,864        322,163      317,514        319,416
                             

 

* Derived from audited financial statements.


Google Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

 

     Three Months Ended
December 31,
    Twelve Months Ended
December 31,
 
     2008     2009     2008*     2009  
     (unaudited)           (unaudited)  

Operating activities

        

Net income

   $ 382,442      $ 1,974,100      $ 4,226,858      $ 6,520,448   

Adjustments:

        

Depreciation and amortization of property and equipment

     313,475        296,817        1,212,237        1,240,030   

Impairment of equity investments

     1,094,757        —          1,094,757        —     

Amortization of intangible and other assets

     72,035        68,689        287,650        284,278   

Stock-based compensation expense

     286,172        275,974        1,119,766        1,164,054   

Excess tax benefits from stock-based award activities

     (44,318     (25,878     (159,088     (90,271

Deferred income taxes

     (100,048     20,278        (224,645     (268,060

Other, net

     (17,422     6,070        (31,910     (20,268

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

        

Accounts receivable

     (116,138     (377,360     (334,464     (504,039

Income taxes, net

     73,354        120,373        626,027        217,476   

Prepaid revenue share, expenses and other assets

     22,827        (51,423     (147,132     262,035   

Accounts payable

     (59,374     24,327        (211,539     33,642   

Accrued expenses and other liabilities

     176,025        257,413        338,907        243,138   

Accrued revenue share

     18,433        100,662        14,000        157,669   

Deferred revenue

     20,079        41,489        41,433        76,066   
                                

Net cash provided by operating activities

     2,122,299        2,731,531        7,852,857        9,316,198   
                                

Investing activities

        

Purchases of property and equipment

     (367,844     (221,357     (2,358,461     (809,888

Purchases of marketable securities

     (7,542,011     (9,552,064     (15,356,304     (29,139,065

Maturities and sales of marketable securities

     6,127,893        5,087,284        15,762,796        22,102,867   

Investments in non-marketable equity securities

     (2,285     (19,154     (47,154     (65,095

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

     (32,591     (67,951     (3,320,299     (108,024
                                

Net cash used in investing activities

     (1,816,838     (4,773,242     (5,319,422     (8,019,205
                                

Financing activities

        

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

     (33,269     132,683        (71,521     143,141   

Excess tax benefits from stock-based award activities

     44,318        25,878        159,088        90,271   
                                

Net cash provided by financing activities

     11,049        158,561        87,567        233,412   
                                

Effect of exchange rate changes on cash and cash equivalents

     (30,307     (6,377     (45,923     10,511   

Net increase (decrease) in cash and cash equivalents

     286,203        (1,889,527     2,575,079        1,540,916   

Cash and cash equivalents at beginning of period

     8,370,469        12,087,115        6,081,593        8,656,672   
                                

Cash and cash equivalents at end of period

   $ 8,656,672      $ 10,197,588      $ 8,656,672      $ 10,197,588   
                                

 

* Derived from audited financial statements.


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

 

     Three Months Ended
December 31,
   Twelve Months Ended
December 31,
     2008    2009    2008    2009

Advertising revenues:

           

Google web sites

   $ 3,811,166    $ 4,421,304    $ 14,413,826    $ 15,722,486

Google Network web sites

     1,693,405      2,043,886      6,714,688      7,166,318
                           

Total advertising revenues

     5,504,571      6,465,190      21,128,514      22,888,804

Licensing and other revenues

     196,333      208,635      667,036      761,759
                           

Revenues

   $ 5,700,904    $ 6,673,825    $ 21,795,550    $ 23,650,563
                           

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

 

     Three Months Ended
December 31,
    Twelve Months Ended
December 31,
 
     2008     2009     2008     2009  

Advertising revenues:

        

Google web sites

   67   66   66   67

Google Network web sites

   30   31   31   30
                        

Total advertising revenues

   97   97   97   97

Licensing and other revenues

   3   3   3   3
                        

Revenues

   100   100   100   100