Salesforce.com 2016 Annual Report Download - page 86

salesforce.com, inc.
Consolidated Statements of Cash Flows
(in thousands)
Fiscal Year Ended January 31,
2016 2015 2014
Operating activities:
Net loss ....................................................................... $ (47,426) $ (262,688) $ (232,175)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization ................................................. 525,750 448,296 369,423
Amortization of debt discount and transaction costs ................................. 27,467 39,620 49,582
Gain on sales of land and building improvements .................................. (21,792) (15,625) 0
50 Fremont lease termination .................................................. (36,617) 0 0
Loss on conversions of convertible senior notes .................................... 0 10,326 214
Amortization of deferred commissions ........................................... 319,074 257,642 194,553
Expenses related to employee stock plans ........................................ 593,628 564,765 503,280
Excess tax benefits from employee stock plans .................................... (59,496) (7,730) (8,144)
Changes in assets and liabilities, net of business combinations:
Accounts receivable, net .................................................. (582,425) (544,610) (424,702)
Deferred commissions .................................................... (380,022) (320,904) (265,080)
Prepaid expenses and other current assets and other assets ....................... 50,772 45,819 105,218
Accounts payable, accrued expenses and other liabilities ......................... 253,986 159,973 (29,043)
Deferred revenue ........................................................ 969,686 798,830 612,343
Net cash provided by operating activities ..................................... 1,612,585 1,173,714 875,469
Investing activities:
Business combinations, net of cash acquired .......................................... (58,680) 38,071 (2,617,302)
Proceeds from land and building improvements held for sale ............................. 127,066 223,240 0
Purchase of 50 Fremont land and building ............................................ (425,376) 0 0
Deposit and withdrawal for purchase of 50 Fremont land and building ...................... 115,015 (126,435) 0
Non-refundable amounts received for sale of land and building ........................... 6,284 0 0
Strategic investments ............................................................. (366,519) (93,725) (31,160)
Purchases of marketable securities .................................................. (1,139,267) (780,540) (558,703)
Sales of marketable securities ...................................................... 500,264 243,845 1,038,284
Maturities of marketable securities .................................................. 37,811 87,638 36,436
Capital expenditures ............................................................. (284,476) (290,454) (299,110)
Net cash used in investing activities ......................................... (1,487,878) (698,360) (2,431,555)
Financing activities:
Proceeds from borrowings on convertible senior notes, net ............................... 0 0 1,132,750
Proceeds from issuance of warrants ................................................. 0 0 84,800
Purchase of convertible note hedge .................................................. 0 0 (153,800)
Proceeds from (payments on) revolving credit facility, net ............................... (300,000) 297,325 0
Proceeds from (payments on) term loan, net ........................................... 0 (285,000) 283,500
Proceeds from employee stock plans ................................................ 455,482 308,989 289,931
Excess tax benefits from employee stock plans ........................................ 59,496 7,730 8,144
Payments on convertible senior notes ................................................ 0 (568,862) (5,992)
Principal payments on capital lease obligations ........................................ (82,330) (70,663) (41,099)
Net cash provided by (used in) financing activities ............................. 132,648 (310,481) 1,598,234
Effect of exchange rate changes ................................................... (7,109) (38,391) (7,758)
Net increase in cash and cash equivalents ........................................... 250,246 126,482 34,390
Cash and cash equivalents, beginning of period ...................................... 908,117 781,635 747,245
Cash and cash equivalents, end of period ........................................... $1,158,363 $ 908,117 $ 781,635
Supplemental cash flow disclosure:
Cash paid during the period for:
Interest .................................................................... $ 37,954 $ 24,684 $ 21,503
Income taxes, net of tax refunds ................................................ $ 31,462 $ 36,219 $ 28,870
Non-cash financing and investing activities:
Fixed assets acquired under capital leases ........................................ $ 12,948 $ 124,099 $ 492,810
Building in progress—leased facility acquired under financing obligation ............... $ 77,057 $ 85,118 $ 40,171
Fair value of equity awards assumed ............................................ $ 0 $ 1,050 $ 19,037
Fair value of common stock issued as consideration for business combinations ........... $ 0 $ 338,033 $ 69,533
Fair value of loan assumed on 50 Fremont ........................................ $ 198,751 $ 0 $ 0
See accompanying Notes.
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