Salesforce.com 2012 Annual Report Download - page 69

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salesforce.com, inc.
Consolidated Statements of Cash Flows
(in thousands)
Fiscal Year Ended January 31,
2012 2011 2010
Operating activities:
Consolidated net income (loss) .......................................... $ (11,572) $ 69,697 $ 84,692
Adjustments to reconcile net income (loss) to net cash provided by operating
activities:
Depreciation and amortization .......................................... 157,286 75,746 53,177
Amortization of debt discount and transaction costs ......................... 10,347 19,621 728
Amortization of deferred commissions .................................... 107,195 80,159 63,891
Expenses related to stock-based awards ................................... 229,258 120,429 88,892
Excess tax benefits from employee stock plans ............................. (6,018) (35,991) (51,539)
Changes in assets and liabilities:
Accounts receivable, net ........................................... (244,947) (102,507) (54,522)
Deferred commissions ............................................. (167,199) (121,247) (82,336)
Prepaid expenses and other current assets .............................. (10,736) 2,001 (3,899)
Other assets ..................................................... 2,883 (9,770) (1,405)
Accounts payable ................................................ 12,644 1,246 (1,588)
Accrued expenses and other current liabilities .......................... 67,692 132,004 64,498
Deferred revenue ................................................. 444,674 227,693 110,322
Net cash provided by operating activities .................................. 591,507 459,081 270,911
Investing activities:
Business combinations, net of cash acquired ............................... (422,699) (403,331) (11,999)
Land activity and building improvements .................................. (19,655) (277,944) 0
Strategic investments .................................................. (37,370) (20,105) (4,400)
Purchases of marketable securities ....................................... (623,231) (1,682,549) (1,317,952)
Sales of marketable securities ........................................... 724,564 1,197,492 874,573
Maturities of marketable securities ....................................... 40,346 214,770 130,663
Capital expenditures .................................................. (151,645) (90,887) (49,501)
Net cash used in investing activities ...................................... (489,690) (1,062,554) (378,616)
Financing activities:
Proceeds from borrowings on convertible debt .............................. 0 0 567,094
Proceeds from issuance of warrants ...................................... 0 0 59,283
Purchase of convertible note hedge ....................................... 0 0 (126,500)
Purchase of subsidiary stock ............................................ 0 (171,964) 0
Proceeds from equity plans ............................................. 116,565 160,402 93,856
Excess tax benefits from employee stock plans ............................. 6,018 35,991 51,539
Contingent consideration payment related to prior business combinations ........ (16,200) 0 0
Principal payments on capital lease obligations ............................. (30,533) (10,355) (8,119)
Net cash provided by financing activities .................................. 75,850 14,074 637,153
Effect of exchange rate changes ........................................ 5,325 2,385 (1,976)
Net increase (decrease) in cash and cash equivalents ...................... 182,992 (587,014) 527,472
Cash and cash equivalents, beginning of period ........................... 424,292 1,011,306 483,834
Cash and cash equivalents, end of period ................................ $607,284 $ 424,292 $ 1,011,306
Supplemental cash flow disclosure:
Cash paid during the period for:
Interest ......................................................... $ 6,587 $ 5,290 $ 1,069
Income taxes, net of tax refunds ..................................... 20,981 90 28,479
Non-cash financing and investing activities
Fixed assets acquired under capital leases ................................. 57,839 13,224 17,000
Fair value of stock options assumed ...................................... 7,318 0 0
See accompanying Notes.
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