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As Of Filer Filing For·On·As Docs:Size Issuer Agent 1/22/09 Google Inc. 8-K:2,8,9 1/22/09 4:396K RR Donnelley/FA |
Document/Exhibit Description Pages Size
1: 8-K Current Report HTML 18K
2: EX-99.1 Press Release of Google Inc. Dated January 22, HTML 205K
2009
3: EX-99.2 Financial Tables for the Quarter and Fiscal Year HTML 116K
Ended December 31, 2008
4: EX-99.3 Posting on the Official Google Blog Dated January HTML 12K
22, 2009
| Financial tables for the quarter and fiscal year ended December 31, 2008 |
Exhibit 99.2
Google Inc.
CONSOLIDATED BALANCE SHEETS
(In thousands)
| December 31, 2007* |
December 31, 2008 | |||||
| (unaudited) | ||||||
| Assets |
||||||
| Current assets: |
||||||
| Cash and cash equivalents |
$ | 6,081,593 | $ | 8,656,672 | ||
| Marketable securities |
8,137,020 | 7,189,099 | ||||
| Accounts receivable, net of allowance |
2,162,521 | 2,642,192 | ||||
| Deferred income taxes, net |
68,538 | 286,105 | ||||
| Income taxes receivable, net |
145,253 | — | ||||
| Prepaid revenue share, expenses and other assets |
694,213 | 1,404,114 | ||||
| Total current assets |
17,289,138 | 20,178,182 | ||||
| Prepaid revenue share, expenses and other assets, non-current |
168,530 | 433,846 | ||||
| Deferred income taxes, net, non-current |
33,219 | — | ||||
| Non-marketable equity securities |
1,059,694 | 85,160 | ||||
| Property and equipment, net |
4,039,261 | 5,233,843 | ||||
| Intangible assets, net |
446,596 | 996,690 | ||||
| Goodwill |
2,299,368 | 4,839,854 | ||||
| Total assets |
$ | 25,335,806 | $ | 31,767,575 | ||
| Liabilities and Stockholders' Equity |
||||||
| Current liabilities: |
||||||
| Accounts payable |
$ | 282,106 | $ | 178,004 | ||
| Accrued compensation and benefits |
588,390 | 811,643 | ||||
| Accrued expenses and other current liabilities |
465,032 | 480,263 | ||||
| Accrued revenue share |
522,001 | 532,547 | ||||
| Deferred revenue |
178,073 | 218,084 | ||||
| Income taxes payable, net |
— | 81,549 | ||||
| Total current liabilities |
2,035,602 | 2,302,090 | ||||
| Deferred revenue, non-current |
30,249 | 29,818 | ||||
| Income taxes payable, net, non-current |
478,372 | 890,115 | ||||
| Deferred income taxes, net, non-current |
— | 12,515 | ||||
| Other long-term liabilities |
101,904 | 294,175 | ||||
| Stockholders' equity: |
||||||
| Common stock |
313 | 315 | ||||
| Additional paid-in capital |
13,241,221 | 14,450,338 | ||||
| Accumulated other comprehensive income |
113,373 | 226,579 | ||||
| Retained earnings |
9,334,772 | 13,561,630 | ||||
| Total stockholders' equity |
22,689,679 | 28,238,862 | ||||
| Total liabilities and stockholders' equity |
$ | 25,335,806 | $ | 31,767,575 | ||
| * | Derived from audited financial statements. |
Google Inc.
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share amounts)
| Three Months Ended December 31, |
Twelve Months Ended December 31, |
|||||||||||||
| 2007 | 2008 | 2007* | 2008 | |||||||||||
| (unaudited) | (unaudited) | |||||||||||||
| Revenues |
$ | 4,826,679 | $ | 5,700,904 | $ | 16,593,986 | $ | 21,795,550 | ||||||
| Costs and expenses: |
||||||||||||||
| Cost of revenues (including stock-based compensation expense of $6,255, $12,099, $22,335, $41,340) |
1,955,825 | 2,190,005 | 6,649,085 | 8,621,506 | ||||||||||
| Research and development (including stock-based compensation expense of $161,372, $182,075, $569,797, $732,418) |
630,783 | 733,342 | 2,119,985 | 2,793,192 | ||||||||||
| Sales and marketing (including stock-based compensation expense of $38,085, $56,354, $131,638, $206,020) |
422,291 | 505,993 | 1,461,266 | 1,946,244 | ||||||||||
| General and administrative (including stock-based compensation expense of $39,588, $35,644, $144,876, $139,988) |
377,046 | 411,360 | 1,279,250 | 1,802,639 | ||||||||||
| Total costs and expenses |
3,385,945 | 3,840,700 | 11,509,586 | 15,163,581 | ||||||||||
| Income from operations |
1,440,734 | 1,860,204 | 5,084,400 | 6,631,969 | ||||||||||
| Impairment on equity investments |
— | (1,094,757 | ) | — | (1,094,757 | ) | ||||||||
| Interest income and other, net |
167,294 | 69,899 | 589,580 | 316,384 | ||||||||||
| Income before income taxes |
1,608,028 | 835,346 | 5,673,980 | 5,853,596 | ||||||||||
| Provision for income taxes |
401,579 | 452,904 | 1,470,260 | 1,626,738 | ||||||||||
| Net income |
$ | 1,206,449 | $ | 382,442 | $ | 4,203,720 | $ | 4,226,858 | ||||||
| Net income per share - basic |
$ | 3.86 | $ | 1.22 | $ | 13.53 | $ | 13.46 | ||||||
| Net income per share - diluted |
$ | 3.79 | $ | 1.21 | $ | 13.29 | $ | 13.31 | ||||||
| Shares used in per share calculation - basic |
312,251 | 314,651 | 310,806 | 313,959 | ||||||||||
| Shares used in per share calculation - diluted |
317,925 | 316,864 | 316,210 | 317,514 | ||||||||||
| * | Derived from audited financial statements. |
Google Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Three Months Ended December 31, |
Twelve Months Ended December 31, |
|||||||||||||||
| 2007 | 2008 | 2007* | 2008 | |||||||||||||
| (unaudited) | (unaudited) | |||||||||||||||
| Operating activities |
||||||||||||||||
| Net income |
$ | 1,206,449 | $ | 382,442 | $ | 4,203,720 | $ | 4,226,858 | ||||||||
| Adjustments: |
||||||||||||||||
| Depreciation and amortization of property and equipment |
241,902 | 313,475 | 807,743 | 1,212,237 | ||||||||||||
| Impairment charges on equity investments |
— | 1,094,757 | — | 1,094,757 | ||||||||||||
| Amortization of intangibles and other |
48,034 | 72,035 | 159,915 | 287,650 | ||||||||||||
| Stock-based compensation |
245,300 | 286,172 | 868,646 | 1,119,766 | ||||||||||||
| Excess tax benefits from stock-based award activity |
(140,629 | ) | (44,318 | ) | (379,206 | ) | (159,088 | ) | ||||||||
| Deferred income taxes |
20,308 | (100,048 | ) | (164,212 | ) | (224,645 | ) | |||||||||
| Other, net |
(32,526 | ) | (17,422 | ) | (39,741 | ) | (31,910 | ) | ||||||||
| Changes in assets and liabilities, net of effects of acquisitions: |
||||||||||||||||
| Accounts receivable |
(277,822 | ) | (116,138 | ) | (837,247 | ) | (334,464 | ) | ||||||||
| Income taxes, net |
129,234 | 73,354 | 744,802 | 626,027 | ||||||||||||
| Prepaid revenue share, expenses and other assets |
(61,427 | ) | 22,827 | (298,689 | ) | (147,132 | ) | |||||||||
| Accounts payable |
49,980 | (59,374 | ) | 70,135 | (211,539 | ) | ||||||||||
| Accrued expenses and other liabilities |
212,383 | 176,025 | 418,905 | 338,907 | ||||||||||||
| Accrued revenue share |
13,864 | 18,433 | 150,310 | 14,000 | ||||||||||||
| Deferred revenue |
38,198 | 20,079 | 70,329 | 41,433 | ||||||||||||
| Net cash provided by operating activities |
1,693,248 | 2,122,299 | 5,775,410 | 7,852,857 | ||||||||||||
| Investing activities |
||||||||||||||||
| Purchases of property and equipment |
(678,209 | ) | (367,844 | ) | (2,402,840 | ) | (2,358,461 | ) | ||||||||
| Purchases of marketable securities |
(4,240,913 | ) | (7,542,011 | ) | (15,997,060 | ) | (15,356,304 | ) | ||||||||
| Maturities and sales of marketable securities |
4,140,472 | 6,127,893 | 15,659,473 | 15,762,796 | ||||||||||||
| Investments in non-marketable equity securities |
(13,223 | ) | (2,285 | ) | (34,511 | ) | (47,154 | ) | ||||||||
| Acquisitions, net of cash acquired and proceeds received from divestiture, and purchases of intangible and other assets |
(83,559 | ) | (32,591 | ) | (906,651 | ) | (3,320,299 | ) | ||||||||
| Net cash used in investing activities |
(875,432 | ) | (1,816,838 | ) | (3,681,589 | ) | (5,319,422 | ) | ||||||||
| Financing activities |
||||||||||||||||
| Net proceeds (payments) related to stock-based award activity |
4,788 | (33,269 | ) | 23,861 | (71,521 | ) | ||||||||||
| Excess tax benefits from stock-based award activity |
140,629 | 44,318 | 379,206 | 159,088 | ||||||||||||
| Net cash provided by financing activities |
145,417 | 11,049 | 403,067 | 87,567 | ||||||||||||
| Effect of exchange rate changes on cash and cash equivalents |
11,956 | (30,307 | ) | 40,034 | (45,923 | ) | ||||||||||
| Net increase in cash and cash equivalents |
975,189 | 286,203 | 2,536,922 | 2,575,079 | ||||||||||||
| Cash and cash equivalents at beginning of period |
5,106,404 | 8,370,469 | 3,544,671 | 6,081,593 | ||||||||||||
| Cash and cash equivalents at end of period |
$ | 6,081,593 | $ | 8,656,672 | $ | 6,081,593 | $ | 8,656,672 | ||||||||
| * | Derived from audited financial statements. |
The following table presents our revenues, by revenue source, for the periods presented (in thousands, unaudited):
| Three Months Ended December 31, |
Twelve Months Ended December 31, |
|||||||||||||||
| 2007 | 2008 | 2007 | 2008 | |||||||||||||
| Advertising revenues: |
||||||||||||||||
| Google web sites |
$ | 3,121,539 | $ | 3,811,166 | $ | 10,624,705 | $ | 14,413,826 | ||||||||
| Google Network web sites |
1,635,836 | 1,693,405 | 5,787,938 | 6,714,688 | ||||||||||||
| Total advertising revenues |
4,757,375 | 5,504,571 | 16,412,643 | 21,128,514 | ||||||||||||
| Licensing and other revenues |
69,304 | 196,333 | 181,343 | 667,036 | ||||||||||||
| Revenues |
$ | 4,826,679 | $ | 5,700,904 | $ | 16,593,986 | $ | 21,795,550 | ||||||||
|
The following table presents our revenues, by revenue source, as a percentage of total revenues for the periods presented (unaudited):
|
| |||||||||||||||
| Three Months Ended December 31, |
Twelve Months Ended December 31, |
|||||||||||||||
| 2007 | 2008 | 2007 | 2008 | |||||||||||||
| Advertising revenues: |
||||||||||||||||
| Google web sites |
65 | % | 67 | % | 64 | % | 66 | % | ||||||||
| Google Network web sites |
34 | % | 30 | % | 35 | % | 31 | % | ||||||||
| Total advertising revenues |
99 | % | 97 | % | 99 | % | 97 | % | ||||||||
| Licensing and other revenues |
1 | % | 3 | % | 1 | % | 3 | % | ||||||||
| Revenues |
100 | % | 100 | % | 100 | % | 100 | % | ||||||||
| This ‘8-K’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on / For Period End: | 1/22/09 | |||
| 12/31/08 | 10-K | |||
| 12/31/07 | 10-K | |||
| List all Filings | ||||