Zynga 2012 Annual Report Download - page 64

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For the Three Months Ended
Dec 31,
2012
Sep 30,
2012
Jun 30,
2012
Mar 31,
2012
Dec 31,
2011
Sep 30,
2011
Jun 30,
2011
Mar 31,
2011
Reconciliation of Revenue
to Bookings:
Revenue ................. $311,165 $316,637 $332,493 $320,972 $ 311,237 $306,829 $279,144 $242,890
Change in deferred
revenue ............... (49,896) (61,031) (30,905) 8,192 (4,730) (19,168) (4,401) 43,708
Bookings ................ $261,269 $255,606 $301,588 $329,164 $ 306,507 $287,661 $274,743 $286,598
Reconciliation of Net
Income (Loss) to
Adjusted EBITDA:
Net income (loss) ......... $(48,561)$ (52,725)$ (22,811)$ (85,351)$(435,005)$ 12,540 $ 1,391 $ 16,758
(Provision for) / benefit from
income taxes ........... 86,290 (43,035) 6,696 (78) (53,032) 19,723 12,257 19,226
Other income (expense),
net ................... 1,111 350 (21,250) 1,142 1,933 (263) (200) 736
Interest income ........... (1,230) (1,144) (1,084) (1,291) (457) (262) (443) (518)
Gain on legal settlements . . . 1,150 985 — 889 (2,145) — — —
Depreciation and
amortization ........... 33,430 39,444 39,207 29,398 31,266 22,936 23,365 17,847
Impairment of intangible
assets ................. — 95,493 — — ————
Stock-based expense ....... 14,862 37,817 95,456 133,851 529,971 22,624 33,111 14,506
Change in deferred
revenue ............... (49,896) (61,031) (30,905) 8,192 (4,730) (19,168) (4,401) 43,708
Restructuring expense ...... 7,862 — — — ————
Adjusted EBITDA ......... $ 45,018 $ 16,154 $ 65,309 $ 86,752 $ 67,801 $ 58,130 $ 65,080 $112,263
Liquidity and Capital Resources
Twelve Months Ended December 31,
2012 2011 2010
(in thousands)
Consolidated Statements of Cash Flows Data:
Acquisition of property and equipment ........................... $ (98,054) $ (238,091) $ (56,839)
Depreciation and amortization ................................. 141,479 95,414 39,481
Cash flows provided by operating activities ....................... $ 195,767 $ 389,172 $ 326,412
Cash flows used in investing activities ........................... (1,496,934) (63,455) (617,438)
Cash flows provided by financing activities ....................... 104,818 1,068,844 351,437
As of December 31, 2012, we had cash, cash equivalents and marketable securities of approximately $1.65
billion, which consisted of cash, money market funds, U.S. government and government agency debt securities,
corporate debt securities and municipal securities. For the full year ended December 31, 2012, we made capital
expenditures of $331.8 million, which included the purchase and build out of our corporate headquarters as well
as investments in network infrastructure to support our growth.
In addition, in October 2012, we announced that our Board of Directors authorized us to repurchase up to
$200 million of our Class A common stock. As of December 31, 2012, we had repurchased $11.8 million of our
Class A common stock under our stock repurchase program and the remaining authorized amount of stock
repurchases that may be made under this plan was $188.2 million. The timing and amount of any stock
56