Google 2007 Annual Report Download - page 50

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ITEM 6. SELECTED FINANCIAL DATA
You should read the following selected consolidated financial data in conjunction with “Management’s Discussion
and Analysis of Financial Condition and Results of Operation” and our consolidated financial statements and the related
notes appearing elsewhere in this Form 10-K.
The consolidated statements of income data for the years ended December 31, 2005, 2006 and 2007, and the
consolidated balance sheet data at December 31, 2006 and 2007, are derived from our audited consolidated financial
statements appearing elsewhere in this Annual Report on Form 10-K. The consolidated statements of income data for the
years ended December 31, 2003 and 2004, and the consolidated balance sheet data at December 31, 2003, 2004 and 2005,
are derived from our audited consolidated financial statements that are not included in this Annual Report on Form 10-K.
The historical results are not necessarily indicative of the results to be expected in any future period.
Year Ended December 31,
2003 2004 2005 2006 2007
(in thousands, except per share amounts)
Consolidated Statements of Income Data:
Revenues ................................ $1,465,934 $3,189,223 $6,138,560 $10,604,917 $16,593,986
Costs and expenses:
Cost of revenues ...................... 634,411 1,468,967 2,577,088 4,225,027 6,649,085
Research and development .............. 229,605 395,164 599,510 1,228,589 2,119,985
Sales and marketing .................... 164,935 295,749 468,152 849,518 1,461,266
General and administrative .............. 94,519 188,151 386,532 751,787 1,279,250
Contribution to Google Foundation ...... — — 90,000 — —
Non-recurring portion of settlement of
disputes with Yahoo ................. — 201,000 — — —
Total costs and expenses .................... 1,123,470 2,549,031 4,121,282 7,054,921 11,509,586
Income from operations .................... 342,464 640,192 2,017,278 3,549,996 5,084,400
Interest income and other, net ............... 4,190 10,042 124,399 461,044 589,580
Income before income taxes ................. 346,654 650,234 2,141,677 4,011,040 5,673,980
Provision for income taxes ................... 241,006 251,115 676,280 933,594 1,470,260
Net income ............................... $ 105,648 $ 399,119 $1,465,397 $ 3,077,446 $ 4,203,720
Net income per share of Class A and Class B
common stock
Basic ................................ $ 0.77 $ 2.07 $ 5.31 $ 10.21 $ 13.53
Diluted .............................. $ 0.41 $ 1.46 $ 5.02 $ 9.94 $ 13.29
As of December 31,
2003 2004 2005 2006 2007
(in thousands)
Consolidated Balance Sheet Data:
Cash, cash equivalents and marketable
securities .............................. $ 334,718 $2,132,297 $ 8,034,247 $11,243,914 $14,218,613
Total assets .............................. 871,458 3,313,351 10,271,813 18,473,351 25,335,806
Total long-term liabilities ................... 33,365 43,927 107,472 128,924 610,525
Redeemable convertible preferred stock
warrant ............................... 13,871 ————
Deferred stock-based compensation .......... (369,668) (249,470) (119,015) — —
Total stockholders’ equity .................. 588,770 2,929,056 9,418,957 17,039,840 22,689,679
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