eBay 2008 Annual Report Download - page 56

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2004 2005 2006 2007 2008
December 31,
(in thousands)
Consolidated Balance Sheet Data:
Cash and cash equivalents .......... $1,330,045 $ 1,313,580 $ 2,662,792 $ 4,221,191 $ 3,188,928
Short-term investments ............ 837,409 804,352 554,841 676,264 163,734
Long-term investments ............ 1,266,289 825,667 277,853 138,237 106,178
Working capital(5) . . ............. 1,826,279 1,698,302 2,452,191 4,022,926 2,581,503
Total assets ..................... 7,991,051 11,788,986 13,494,011 15,366,037 15,592,439
Short-term obligations ............. 124,272 — — — —
Borrowings under credit agreement
(short-term)................... — — — 200,000 1,000,000
Total stockholders’ equity .......... 6,728,341 10,047,981 10,904,632 11,704,602 11,083,858
(1) These results include acquired company results of operations beginning on the date of acquisition. For a
summary of recent significant acquisitions, see “Note 3 — Business Combination, Goodwill and Intangible
Assets” to the consolidated financial statements included in this report. Certain prior year amounts have been
reclassified to conform to the current year’s presentation. For further details regarding reclassified amounts see
“Note 1 — The Company and Summary of Significant Accounting Policies” to the consolidated financial
statements included in this report.
(2) Consolidated Statement of Income for the years ended December 31, 2006, 2007 and 2008 includes stock-based
compensation expense under Statement of Financial Accounting Standards (“SFAS”) No. 123 (revised 2004),
“Share-Based Payment” (“FAS 123(R)”) of $317.4 million, $301.8 million and $353.2, respectively. Because
we implemented FAS 123(R) as of January 1, 2006, prior periods do not reflect stock-based compensation
expense related to this new accounting standard. See “Note 15 — Benefit Plans” to the consolidated financial
statements included in this report.
(3) Consolidated Statement of Income for the year ended December 31, 2008 includes restructuring charges of
$49.1 million. See “Note 9 — Restructuring” to the consolidated financial statements included in this report.
(4) Consolidated Statement of Income for the year ended December 31, 2007 includes a goodwill impairment
charge of $1.4 billion. See “Note 3 — Business Combination, Goodwill and Intangible Assets” to the
consolidated financial statements included in this report.
(5) Working capital is calculated as the difference between total current assets and total current liabilities.
ITEM 7: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
FORWARD-LOOKING STATEMENTS
This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements that involve
expectations, plans or intentions (such as those relating to future business or financial results, new features or
services, or management strategies). You can identify these forward-looking statements by words such as “may,”
“will,” “would,” “should,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan” and other
similar expressions. These forward-looking statements involve risks and uncertainties that could cause our actual
results to differ materially from those expressed or implied in our forward-looking statements. Such risks and
uncertainties include, among others, those discussed in “Item 1A: Risk Factors,” of this Annual Report on
Form 10-K as well as our consolidated financial statements, related notes, and the other financial information
appearing elsewhere in this report and our other filings with the SEC. We do not intend, and undertake no
obligation, to update any of our forward-looking statements after the date of this report to reflect actual results or
future events or circumstances. Given these risks and uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements.
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