EX-99.2 3 dex992.htm FINANCIAL TABLES FOR THE QUARTER ENDED MARCH 31, 2010 Financial tables for the quarter ended March 31, 2010

Exhibit 99.2

Google Inc.

CONSOLIDATED BALANCE SHEETS

(In millions)

 

     December 31,
2009*
   March 31,
2010
          (unaudited)

Assets

     

Current assets:

     

Cash and cash equivalents

   $ 10,198    $ 9,192

Marketable securities

     14,287      17,322

Accounts receivable, net of allowance

     3,178      3,084

Deferred income taxes, net

     644      399

Income taxes receivable, net

     23      —  

Prepaid revenue share, expenses and other assets

     837      1,135
             

Total current assets

     29,167      31,132

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

     415      454

Deferred income taxes, net, non-current

     263      446

Non-marketable equity securities

     129      154

Property and equipment, net

     4,845      4,773

Intangible assets, net

     775      790

Goodwill

     4,903      5,122
             

Total assets

   $ 40,497    $ 42,871
             

Liabilities and Stockholders’ Equity

     

Current liabilities:

     

Accounts payable

   $ 216    $ 329

Accrued compensation and benefits

     982      578

Accrued expenses and other current liabilities

     570      576

Accrued revenue share

     694      696

Deferred revenue

     285      293

Income taxes payable, net

     —        450
             

Total current liabilities

     2,747      2,922

Deferred revenue, non-current

     42      36

Income taxes payable, net, non-current

     1,392      1,300

Other long-term liabilities

     312      330

Stockholders’ equity:

     

Common stock and additional paid-in capital

     15,817      16,171

Accumulated other comprehensive income

     105      163

Retained earnings

     20,082      21,949
             

Total stockholders’ equity

     36,004      38,283
             

Total liabilities and stockholders’ equity

   $ 40,497    $ 42,871
             

 

* Derived from audited financial statements.


Google Inc.

CONSOLIDATED STATEMENTS OF INCOME

(In millions, except share amounts which are reflected in thousands and per share amounts)

 

     Three Months Ended
March 31,
     2009    2010
     (unaudited)

Revenues

   $ 5,509    $ 6,775

Costs and expenses:

     

Cost of revenues (including stock-based compensation expense of $13, $6)

     2,102      2,452

Research and development (including stock-based compensation expense of $168, $191)

     642      818

Sales and marketing (including stock-based compensation expense of $59, $54)

     434      607

General and administrative (including stock-based compensation expense of $37, $40)

     447      410
             

Total costs and expenses

     3,625      4,287
             

Income from operations

     1,884      2,488

Interest income and other, net

     6      18
             

Income before income taxes

     1,890      2,506

Provision for income taxes

     467      551
             

Net income

   $ 1,423    $ 1,955
             

Net income per share - basic

   $ 4.51    $ 6.15
             

Net income per share - diluted

   $ 4.49    $ 6.06
             

Shares used in per share calculation - basic

     315,252      317,895
             

Shares used in per share calculation - diluted

     317,221      322,608
             


Google Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

 

     Three Months Ended
March 31,
 
     2009     2010  
     (unaudited)  

Operating activities

    

Net income

   $ 1,423      $ 1,955   

Adjustments:

    

Depreciation and amortization of property and equipment

     321        264   

Amortization of intangible and other assets

     82        67   

Stock-based compensation expense

     277        291   

Excess tax benefits from stock-based award activities

     (32     (12

Deferred income taxes

     (13     (13

Other

     (21     2   

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

    

Accounts receivable

     97        46   

Income taxes, net

     325        381   

Prepaid revenue share, expenses and other assets

     78        (157

Accounts payable

     22        120   

Accrued expenses and other liabilities

     (322     (394

Accrued revenue share

     4        23   

Deferred revenue

     9        11   
                

Net cash provided by operating activities

     2,250        2,584   
                

Investing activities

    

Purchases of property and equipment

     (263     (239

Purchases of marketable securities

     (5,245     (12,487

Maturities and sales of marketable securities

     5,110        9,495   

Investments in non-marketable equity securities

     (19     (3

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

     (2     (190
                

Net cash used in investing activities

     (419     (3,424
                

Financing activities

    

Net payments related to stock-based award activities

     (37     (38

Excess tax benefits from stock-based award activities

     32        12   

Repurchase of common stock

     —          (97
                

Net cash used in financing activities

     (5     (123
                

Effect of exchange rate changes on cash and cash equivalents

     (57     (43

Net increase (decrease) in cash and cash equivalents

     1,769        (1,006

Cash and cash equivalents at beginning of period

     8,657        10,198   
                

Cash and cash equivalents at end of period

   $ 10,426      $ 9,192   
                


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

 

     Three Months Ended
March 31,
     2009    2010

Advertising revenues:

     

Google web sites

   $ 3,693    $ 4,439

Google Network web sites

     1,638      2,036
             

Total advertising revenues

     5,331      6,475

Other revenues

     178      300
             

Revenues

   $ 5,509    $ 6,775
             

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

 

     Three Months Ended
March 31,
 
     2009     2010  

Advertising revenues:

    

Google web sites

   67   66

Google Network web sites

   30   30
            

Total advertising revenues

   97   96

Other revenues

   3   4
            

Revenues

   100   100