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YAHOO! INC. ANNUAL REPORTIntroductionThe purpose of this rese.docx
- 1. YAHOO! INC. ANNUAL REPORT Introduction: The purpose of this research is to analyze the information contained in the financial statements that is income statement and balance sheet of Yahoo! Inc. Yahoo! Inc. fiscal year ends on 31st December and operates under technology sector and internet information providers industry. It provides search and display advertising services on yahoo properties and affiliate sites worldwide. Hence its focus is on informing, connecting and entertaining its users. Financial statements: Yahoo! Inc.’s total assets at the end of its most recent annual reporting period, 2014 was $61,960,344 thousands while its total assets at the end of previous annual reporting period, 2013 was $16,804,959 thousands. Total assets information is important as it represents items owned by the company. Yahoo! Inc. can use this information in asset performance analysis which includes calculation of: cash conversion cycle, return on asset ratio and fixed asset turnover ratio. Yahoo! Inc. had $2,667,916 thousands cash and cash equivalents at the end of its most recent annual reporting period. Yahoo! Inc. accounts payable at the end of its most recent annual reporting period , 2014 was $4,191,618 thousands while its accounts payable at the end of previous annual reporting period, 2013 was $1,045,813 thousands. Yahoo! Inc.’s net revenues for the last three annual reporting periods were: $4,618,133 thousands, $4,680,380 thousands and $4,986,566 thousands for the years 2014, 2013 and 2012 respectively. Yahoo! Inc. net income for the two most recent annual reporting period was $7,521,731 thousands and $1,366,281thousands for the years 2014 and 2013 respectively. The change in dollars in its net income from the most recent annual reporting period to
- 2. the previous annual reporting period is $6,155,450 thousands. Yahoo! Inc.’s total current assets at the end of the most recent annual reporting period, 2014 was $9,699,107 thousands while its total current assets at the end of the previous annual reporting period, 2013 was $5,025,857 thousands. The information found in the financial statements is used for the analysis and evaluation of the company’s performance, liquidity, efficiency and profitability. This information is essential to all company stakeholders such as potential investors, employees, suppliers. In the above information, stakeholders will be interested on amount of total assets, current assets, net income and net revenue as it will help in calculation of ratios used in analyzing the company’s efficiency, liquidity and profitability. YAHOO! INC. INCOME STATEMENT AND BALANCE SHEET Yahoo! Inc. (YHOO) Income Statement View: Annual Data | Quarterly Data All numbers in thousands Period Ending Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Total Revenue 4,618,133 4,680,380 4,986,566 Cost of Revenue 1,298,314 1,349,380 1,620,566
- 3. Gross Profit 3,319,819 3,331,000 3,366,000 Operating Expenses Research Development 1,207,146 1,008,487 885,824 Selling General and Administrative 1,809,011 1,700,375 1,641,819 Non Recurring 191,864 67,321 236,170 Others 66,750 44,841 35,819 Total Operating Expenses 3,274,771 2,821,024 2,799,632
- 4. Operating Income or Loss 142,942 589,926 566,368 Income from Continuing Operations Total Other Income/Expenses Net 10,467,333 123,307 4,647,839 Earnings Before Interest And Taxes 10,610,275 713,233 5,214,207 Interest Expense - - - Income Before Tax 10,610,275 713,233
- 5. 5,214,207 Income Tax Expense 4,038,102 153,392 1,940,043 Minority Interest (10,411) (10,285) (5,123) Net Income From Continuing Ops 7,619,625 1,446,231 3,945,479 Non-recurring Events Discontinued Operations - - - Extraordinary Items -
- 6. - - Effect Of Accounting Changes - - - Other Items - - - Net Income 7,521,731 1,366,281 3,945,479 Preferred Stock And Other Adjustments - - - Net Income Applicable To Common Shares 7,521,731 1,366,281 3,945,479
- 7. Yahoo! Inc. (YHOO) Balance Sheet View: Annual Data | Quarterly Data All numbers in thousands Period Ending Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Assets Current Assets Cash And Cash Equivalents 2,667,916 2,077,590 2,667,778 Short Term Investments 5,327,412 1,330,304 1,516,175 Net Receivables 1,032,704 979,559 1,008,448 Inventory
- 8. - - - Other Current Assets 671,075 638,404 460,312 Total Current Assets 9,699,107 5,025,857 5,652,713 Long Term Investments 44,588,259 5,015,847 4,678,582 Property Plant and Equipment 1,487,684 1,488,518 1,685,845 Goodwill 5,163,654 4,679,648 3,826,749 Intangible Assets 470,842 417,808 153,973 Accumulated Amortization - - - Other Assets 550,798 177,281
- 9. 1,105,391 Deferred Long Term Asset Charges - - - Total Assets 61,960,344 16,804,959 17,103,253 Liabilities Current Liabilities Accounts Payable 4,191,618 1,045,813 993,306 Short/Current Long Term Debt - - - Other Current Liabilities 336,963 294,499 296,926 Total Current Liabilities 4,528,581 1,340,312 1,290,232 Long Term Debt 1,170,423 1,110,585
- 10. 124,587 Other Liabilities 143,095 116,605 - Deferred Long Term Liability Charges 17,332,653 1,106,860 1,082,831 Minority Interest 43,755 55,688 45,403 Negative Goodwill - - - Total Liabilities 23,218,507 3,730,050 2,543,053 Stockholders' Equity Misc Stocks Options Warrants - - - Redeemable Preferred Stock - - - Preferred Stock - - -
- 11. Common Stock 945 1,015 1,187 Retained Earnings 8,937,036 4,267,429 5,792,459 Treasury Stock (712,455) (200,228) (1,368,043) Capital Surplus 8,496,683 8,688,304 9,563,348 Other Stockholder Equity 22,019,628 318,389 571,249 Total Stockholder Equity 38,741,837 13,074,909 14,560,200 Net Tangible Assets 33,107,341 7,977,453 10,579,478 REFERENCE: · Income statement