Google 2010 Annual Report Download - page 65

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Google Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Year Ended December 31,
2008 2009 2010
Operating activities
Net income ................................................................. $ 4,227 $ 6,520 $ 8,505
Adjustments:
Depreciation and amortization of property and equipment ................... 1,212 1,240 1,067
Amortization of intangible and other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 288 284 329
Stock-based compensation expense ...................................... 1,120 1,164 1,376
Excess tax benefits from stock-based award activities ...................... (159) (90) (94)
Deferred income taxes ................................................... (225) (268) 9
Impairment of equity investments ......................................... 1,095 0 0
Other .................................................................. (32) (20) (12)
Changes in assets and liabilities, net of effects of acquisitions and divestiture:
Accounts receivable ................................................ (334) (504) (1,129)
Incometaxes,net................................................... 626 217 102
Prepaid revenue share, expenses and other assets ..................... (147) 262 (414)
Accounts payable .................................................. (212) 34 272
Accrued expenses and other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 339 243 745
Accruedrevenueshare.............................................. 14 158 214
Deferredrevenue ................................................... 41 76 111
Net cash provided by operating activities ....................................... 7,853 9,316 11,081
Investing activities
Purchases of property and equipment .......................................... (2,359) (810) (4,018)
Purchases of marketable securities ............................................ (15,356) (29,139) (43,985)
Maturities and sales of marketable securities ................................... 15,763 22,103 37,099
Investments in non-marketable equity securities ................................ (47) (65) (320)
Cash collateral received from securities lending ................................. 0 0 2,361
Investments in reverse repurchase agreements ................................. 0 0 (750)
Acquisitions, net of cash acquired and proceeds received from divestiture, and
purchases of intangible and other assets ..................................... (3,320) (108) (1,067)
Net cash used in investing activities ........................................... (5,319) (8,019) (10,680)
Financing activities
Net proceeds (payments) from stock-based award activities ...................... (72) 143 294
Excess tax benefits from stock-based award activities . . . . . . . . . . . . . . . . . . . . . . . . . . . 159 90 94
Repurchase of common stock in connection with acquisitions .................... 0 0 (801)
Proceeds from issuance of short-term debt ..................................... 0 0 5,246
Repayment of short-term debt ................................................ 0 0 (1,783)
Net cash provided by financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87 233 3,050
Effect of exchange rate changes on cash and cash equivalents ................... (46) 11 (19)
Net increase in cash and cash equivalents ...................................... 2,575 1,541 3,432
Cash and cash equivalents at beginning of year ................................. 6,082 8,657 10,198
Cash and cash equivalents at end of year ....................................... $ 8,657 $ 10,198 $ 13,630
Supplemental disclosures of cash flow information
Cash paid for taxes .......................................................... $ 1,224 $ 1,896 $ 2,175
Non-cash financing activity:
Fair value of common stock issued and vested options assumed in connection
withacquisitions...................................................... 0 0 750
See accompanying notes.
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