Google 2013 Annual Report Download - page 55

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49
PART II
ITEM8.ConsolidatedStatementsofCashFlows

Consolidated Statements of Cash Flows
(In millions)
Year Ended December31,
2011 2012 2013
Operating activities
Netincome $9,737 $ 10,737 $ 12,920
Adjustments:
Depreciationandamortizationofpropertyandequipment 1,396 1,988 2,781
Amortizationofintangibleandotherassets 455 974 1,158
Stock-basedcompensationexpense 1,974 2,692 3,343
Excesstaxbenetsfromstock-basedawardactivities (86) (188) (481)
Deferredincometaxes 343 (266) (437)
Impairmentofequityinvestments 110 0 0
Gainondivestitureofbusinesses 0 (188) (700)
Other 6 (28) 106
Changesinassetsandliabilities,netofeectsofacquisitions:
Accountsreceivable (1,156) (787) (1,307)
Incometaxes,net 731 1,492 401
Inventories (30) 301 (234)
Prepaidrevenueshare,expensesandotherassets (232) (833) (696)
Accountspayable 101 (499) 605
Accruedexpensesandotherliabilities 795 762 713
Accruedrevenueshare 259 299 254
Deferredrevenue 162 163 233
Netcashprovidedbyoperatingactivities 14,565 16,619 18,659
Investing activities
Purchasesofpropertyandequipment (3,438) (3,273) (7,358)
Purchasesofmarketablesecurities (61,672) (33,410) (45,444)
Maturitiesandsalesofmarketablesecurities 48,746 35,180 38,314
Investmentsinnon-marketableequityinvestments (428) (696) (569)
Cashcollateralrelatedtosecuritieslending (354) (334) (299)
Investmentsinreverserepurchaseagreements 5 45 600
Proceedsfromdivestitureofbusinesses 0 0 2,525
Acquisitions,netofcashacquired,andpurchasesofintangiblesandotherassets (1,900) (10,568) (1,448)
Netcashusedininvestingactivities (19,041) (13,056) (13,679)
Financing activities
Netpaymentsrelatedtostock-basedawardactivities (5) (287) (781)
Excesstaxbenetsfromstock-basedawardactivities 86 188 481
Proceedsfromissuanceofdebt,netofcosts 10,905 16,109 10,768
Repaymentsofdebt (10,179) (14,781) (11,325)
Netcashprovidedby(usedin)nancingactivities 807 1,229 (857)
Eectofexchangeratechangesoncashandcashequivalents 22 3 (3)
Netincrease(decrease)incashandcashequivalents (3,647) 4,795 4,120
Cashandcashequivalentsatbeginningofperiod 13,630 9,983 14,778
Cashandcashequivalentsatendofperiod $9,983 $14,778 $18,898

Cashpaidfortaxes $1,471 $ 2,034 $ 1,932
Cashpaidforinterest $40 $ 74 $72
Non-cashinvestingandnancingactivities:
ReceiptofArrissharesinconnectionwithdivestitureofMotorolaHome $0 $ 0 $ 175
Fairvalueofstock-basedawardsassumedinconnectionwithacquisitionofMotorola $0$41 $0
Propertyundercapitallease $0$0$258
Seeaccompanyingnotes.
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