eBay 2013 Annual Report Download - page 102

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eBay Inc.
CONSOLIDATED STATEMENT OF CASH FLOWS
Year Ended December 31,
2013
2012
2011
(In millions)
Cash flows from operating activities:
Net income
$
2,856
$
2,609
$
3,229
Adjustments:
Provision for transaction and loan losses
791
580
517
Depreciation and amortization
1,400
1,200
940
Stock-based compensation
609
488
458
Deferred income taxes
(31
)
(35
)
17
Excess tax benefits from stock-based compensation
(201
)
(130
)
(80
)
Gain on sale of Skype —
—
(
1,664
)
Gain on sale of equity investments
(75
)
—
—
(Gain) loss on divestiture of businesses —
(
118
)
257
Gain on acquisitions —
—
(
79
)
Changes in assets and liabilities, net of acquisition effects
Accounts receivable
(123
)
(207
)
(292
)
Other current assets
(378
)
(310
)
18
Other non-current assets
(108
)
(96
)
(18
)
Accounts payable
7
(16
)
29
Accrued expenses and other liabilities
(3
)
(164
)
(202
)
Deferred revenue
20
28
12
Income taxes payable and other tax liabilities
231
9
132
Net cash provided by operating activities
4,995
3,838
3,274
Cash flows from investing activities:
Purchases of property and equipment
(1,250
)
(1,257
)
(963
)
Changes in principal loans receivable, net
(794
)
(727
)
(587
)
Purchases of investments
(7,505
)
(3,128
)
(2,290
)
Maturities and sales of investments
3,943
1,421
1,596
Acquisitions, net of cash acquired
(869
)
(143
)
(3,223
)
Repayment of note receivable and sale of related equity investments
485
—
—
Proceeds from divested business, net of cash disposed —
144
—
Proceeds from the sale of Skype —
—
2,269
Other
(22
)
(73
)
(109
)
Net cash used in investing activities
(6,012
)
(3,763
)
(3,307
)
Cash flows from financing activities:
Proceeds from issuance of common stock
437
483
242
Repurchases of common stock
(1,343
)
(898
)
(1,064
)
Excess tax benefits from stock-based compensation
201
130
80
Tax withholdings related to net share settlements of restricted stock awards and units
(267
)
(186
)
(147
)
Proceeds from issuance of long-term debt, net —
2,976
—
Net (repayments) and borrowings under commercial paper program —
(
550
)
250
Repayment of debt
(400
)
—
(
199
)
Funds receivable and customer accounts, net
(1,149
)
(4,126
)
(1,369
)
Funds payable and amounts due to customers, net
1,149
4,126
1,369
Other
18
(4
)
—
Net cash (used in) provided by financing activities
(1,354
)
1,951
(838
)
Effect of exchange rate changes on cash and cash equivalents
48
100
(15
)
Net (decrease) increase in cash and cash equivalents
(2,323
)
2,126
(886
)