- The document is Google Inc.'s Form 10-Q filing with the SEC for the quarter ended September 30, 2006.
- It provides Google's condensed consolidated financial statements, including the balance sheet, income statement, and cash flow statement for the periods presented.
- The filing includes notes to the financial statements and sections for management's discussion of financial condition, market risk disclosures, and controls and procedures.
This document is a Form 10-Q quarterly report filed by Health Net, Inc. with the SEC for the quarter ended September 30, 2004. It includes Health Net's condensed consolidated financial statements, with notes, for the periods ended September 30, 2004 and December 31, 2003. The financial statements show that as of September 30, 2004, Health Net had total assets of $3.5 billion including over $600 million in cash and investments, and total liabilities of $2.2 billion including nearly $1 billion in reserves for claims. For the quarter ended September 30, 2004, Health Net reported total revenues of $2.9 billion including $2.4 billion in health plan services premiums and $526 million
This document is a quarterly report filed with the SEC by Health Net, Inc. for the quarter ended September 30, 2006. It includes Health Net's consolidated statements of operations, balance sheets, statements of cash flows, and notes to the financial statements. For the quarter, Health Net reported revenues of $3.2 billion, net income of $90.9 million, and diluted earnings per share of $0.76. As of September 30, 2006, Health Net held $3.2 billion in current assets, $155 million in property and equipment, and $1.1 billion in goodwill.
This document is a quarterly report filed with the SEC by Health Net, Inc. It includes consolidated financial statements and notes for the third quarter of 2007. The report indicates that Health Net's revenues increased 13% to $3.6 billion for the quarter, but it recognized a net loss of $103.8 million compared to net income of $90.9 million in the prior year. For the nine months ended September 30, 2007, revenues increased 8.5% to $10.5 billion while net income was $76.8 million, a decrease from $244.5 million in the previous year. The report provides details on Health Net's financial performance and key components of revenues and expenses for the periods presented.
This document is Tesoro Corporation's quarterly report on Form 10-Q for the quarterly period ended June 30, 2006. It provides Tesoro's condensed consolidated financial statements, including the balance sheet, statements of operations, and cash flows for the periods ended June 30, 2006 and 2005. It also includes management's discussion and analysis of the financial condition and results of operations, as well as disclosures about market risk and controls and procedures.
This document is a Form 10-Q quarterly report filed by The AES Corporation with the SEC for the quarter ended September 30, 2006. It includes condensed financial statements such as statements of operations and balance sheets, as well as notes to the financial statements and sections on legal proceedings, risks factors, and controls and procedures. The financial statements show that for the quarter, AES reported a net loss of $340 million compared to net income of $244 million in the prior year period. Revenues increased but were offset by higher costs of sales and a $537 million loss on the sale of a subsidiary stock.
This document is Health Net, Inc.'s quarterly report filed with the SEC for the quarter ended June 30, 2006. It includes financial statements such as the consolidated statements of operations and cash flows. For the quarter, Health Net reported total revenues of $3.27 billion, net income of $77 million, and basic earnings per share of $0.67. For the six months ended June 30, 2006, total revenues were $6.45 billion and net income was $153.6 million. The report provides Health Net's financial performance and position for the periods presented.
The document is Reliance Steel & Aluminum Co.'s Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2006. The summary includes:
1) Reliance Steel reported net sales of $1.559 billion for the quarter and net income of $100.5 million.
2) Total assets increased to $3.46 billion from $1.77 billion at the end of 2005, primarily due to acquisitions completed during the first half of 2006.
3) Cash flows from operations were negative $77.2 million for the first half of 2006, largely due to increases in accounts receivable and inventory to support sales growth including from
valero energy Quarterly and Other SEC Reports 2006 1stfinance2
This document is Valero Energy Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2006. It includes Valero's consolidated financial statements and notes for the quarter. Specifically, it provides Valero's balance sheet, income statement, cash flow statement, and statement of comprehensive income for the first quarter of 2006, as well as notes describing Valero's accounting policies and significant events. The report indicates that Valero's net income for the quarter was $849 million, with earnings per share of $1.37.
This document is a Form 10-Q quarterly report filed by Health Net, Inc. with the SEC for the quarter ended September 30, 2004. It includes Health Net's condensed consolidated financial statements, with notes, for the periods ended September 30, 2004 and December 31, 2003. The financial statements show that as of September 30, 2004, Health Net had total assets of $3.5 billion including over $600 million in cash and investments, and total liabilities of $2.2 billion including nearly $1 billion in reserves for claims. For the quarter ended September 30, 2004, Health Net reported total revenues of $2.9 billion including $2.4 billion in health plan services premiums and $526 million
This document is a quarterly report filed with the SEC by Health Net, Inc. for the quarter ended September 30, 2006. It includes Health Net's consolidated statements of operations, balance sheets, statements of cash flows, and notes to the financial statements. For the quarter, Health Net reported revenues of $3.2 billion, net income of $90.9 million, and diluted earnings per share of $0.76. As of September 30, 2006, Health Net held $3.2 billion in current assets, $155 million in property and equipment, and $1.1 billion in goodwill.
This document is a quarterly report filed with the SEC by Health Net, Inc. It includes consolidated financial statements and notes for the third quarter of 2007. The report indicates that Health Net's revenues increased 13% to $3.6 billion for the quarter, but it recognized a net loss of $103.8 million compared to net income of $90.9 million in the prior year. For the nine months ended September 30, 2007, revenues increased 8.5% to $10.5 billion while net income was $76.8 million, a decrease from $244.5 million in the previous year. The report provides details on Health Net's financial performance and key components of revenues and expenses for the periods presented.
This document is Tesoro Corporation's quarterly report on Form 10-Q for the quarterly period ended June 30, 2006. It provides Tesoro's condensed consolidated financial statements, including the balance sheet, statements of operations, and cash flows for the periods ended June 30, 2006 and 2005. It also includes management's discussion and analysis of the financial condition and results of operations, as well as disclosures about market risk and controls and procedures.
This document is a Form 10-Q quarterly report filed by The AES Corporation with the SEC for the quarter ended September 30, 2006. It includes condensed financial statements such as statements of operations and balance sheets, as well as notes to the financial statements and sections on legal proceedings, risks factors, and controls and procedures. The financial statements show that for the quarter, AES reported a net loss of $340 million compared to net income of $244 million in the prior year period. Revenues increased but were offset by higher costs of sales and a $537 million loss on the sale of a subsidiary stock.
This document is Health Net, Inc.'s quarterly report filed with the SEC for the quarter ended June 30, 2006. It includes financial statements such as the consolidated statements of operations and cash flows. For the quarter, Health Net reported total revenues of $3.27 billion, net income of $77 million, and basic earnings per share of $0.67. For the six months ended June 30, 2006, total revenues were $6.45 billion and net income was $153.6 million. The report provides Health Net's financial performance and position for the periods presented.
The document is Reliance Steel & Aluminum Co.'s Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2006. The summary includes:
1) Reliance Steel reported net sales of $1.559 billion for the quarter and net income of $100.5 million.
2) Total assets increased to $3.46 billion from $1.77 billion at the end of 2005, primarily due to acquisitions completed during the first half of 2006.
3) Cash flows from operations were negative $77.2 million for the first half of 2006, largely due to increases in accounts receivable and inventory to support sales growth including from
valero energy Quarterly and Other SEC Reports 2006 1stfinance2
This document is Valero Energy Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2006. It includes Valero's consolidated financial statements and notes for the quarter. Specifically, it provides Valero's balance sheet, income statement, cash flow statement, and statement of comprehensive income for the first quarter of 2006, as well as notes describing Valero's accounting policies and significant events. The report indicates that Valero's net income for the quarter was $849 million, with earnings per share of $1.37.
This document is Tesoro Corporation's quarterly report on Form 10-Q for the quarterly period ended March 31, 2006. It provides Tesoro's condensed consolidated financial statements including the balance sheet, statement of operations, and statement of cash flows. The balance sheet shows that as of March 31, 2006 Tesoro had total assets of $5.08 billion including $2.18 billion in current assets, and total liabilities of $1.90 billion including $1.50 billion in current liabilities. The statements of operations and cash flows provide financial results and cash flow information for the quarters ended March 31, 2006 and 2005.
This document is Tesoro Corporation's quarterly report on Form 10-Q for the quarterly period ended September 30, 2006. It provides financial statements and notes for the third quarter of 2006, including revenues of $5.28 billion and net earnings of $274 million. It also discusses Tesoro's two business segments: refining and retail.
This document is Reliance Steel & Aluminum Co.'s quarterly report filed with the SEC for the quarter ended March 31, 2008. It includes the company's consolidated balance sheets as of March 31, 2008 and December 31, 2007, as well as the consolidated statements of income and cash flows for the quarters ended March 31, 2008 and 2007. It also includes notes to the financial statements and sections on management's discussion of financial condition, market risk, controls and procedures, and various other disclosures.
valero energy Quarterly and Other SEC Reports 2005 1st finance2
This document is Valero Energy Corporation's Form 10-Q/A for the quarterly period ended March 31, 2005. It provides an amended quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. The amendment is being filed solely to include the conformed signature of the Registrant, which was inadvertently omitted from the original Form 10-Q filing. No other revisions have been made to the financial statements or disclosures. The document includes Valero's consolidated financial statements, management's discussion and analysis of financial condition and results of operations, quantitative and qualitative disclosures about market risk, controls and procedures disclosures, and other legal proceeding disclosures for the quarterly period.
This document is Tesoro Corporation's quarterly report on Form 10-Q for the quarterly period ended March 31, 2007. It provides condensed consolidated financial statements and notes for Tesoro, including the balance sheet, income statement, and cash flow statement. It also summarizes Tesoro's pending acquisition of refining and retail assets in Los Angeles from Shell Oil for $1.63 billion, expected to close in May 2007, and its recent acquisition of 138 USA Petroleum retail stations for $267 million plus inventory.
This document is a Form 10-Q quarterly report filed by Health Net, Inc. with the SEC for the quarter ended September 30, 2003. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also includes notes to the financial statements and sections for Management's Discussion and Analysis and controls and procedures.
This document is a Form 10-Q quarterly report filed by The AES Corporation with the SEC for the quarter ended June 30, 2006. The report includes condensed consolidated financial statements and notes. Specifically, it provides condensed consolidated statements of operations and balance sheets, as well as a discussion of revenues, costs, expenses, assets, liabilities and shareholders' equity for the quarter. The report indicates that AES generated total revenues of $3.038 billion for the quarter, with net income of $169 million. Total assets as of June 30, 2006 were $30.7 billion, with current assets of $4.684 billion.
valero energy Quarterly and Other SEC Reports 2007 2ndfinance2
This document is Valero Energy Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2007. It includes Valero's consolidated financial statements and notes for the quarter. Some key details include:
- Revenues for the quarter were $24.2 billion, with net income of $2.25 billion.
- Total assets as of June 30, 2007 were $40.35 billion, with total liabilities of $21.24 billion.
- Cash flows provided by operating activities for the first six months of 2007 were $4.35 billion.
This document is DaVita Inc.'s quarterly report filed with the SEC for the quarterly period ended September 30, 2007. It includes DaVita's consolidated statements of income, balance sheets, cash flows, and shareholders' equity. Some key details are:
- For the quarter, DaVita reported net income of $94.5 million on revenue of $1.3 billion.
- As of September 30, 2007, DaVita had $391.3 million in cash and cash equivalents and total assets of $6.8 billion.
- For the nine months ended September 30, 2007, DaVita's net income was $296.1 million on revenue of $3.
This document is Health Net Inc.'s quarterly report filed with the SEC for the quarter ended September 30, 2008. It includes Health Net's consolidated statements of operations, balance sheets, statements of cash flows, and notes to the financial statements. The statements show that for the quarter, Health Net reported net income of $18.5 million on revenues of $3.8 billion. For the nine months ended September 30, 2008, Health Net reported net income of $59.5 million on revenues of $11.5 billion. As of September 30, 2008, Health Net held $3.5 billion in current assets, including $1.8 billion in investments, and total assets of $4.7 billion including $
valero energy Quarterly and Other SEC Reports 2005 2nd finance2
This document is Valero Energy Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2005. It includes Valero's consolidated financial statements and notes for the quarter. The financial statements show that Valero's revenues increased to $18 billion for the quarter while net income applicable to common stock was $843 million. Management's discussion and analysis section provides details on Valero's operating results and liquidity and capital resources position for the period.
This document is Realogy Corporation's quarterly report filed with the SEC for the quarter ended June 30, 2008. It includes condensed consolidated financial statements for the second quarter of 2008, the first quarter of 2008, and comparative periods in 2007. It also includes notes to the financial statements and sections for management's discussion of financial results, market risk disclosures, and certifications of internal controls. Realogy is a large residential real estate services company that was spun off from Cendant Corporation and acquired by Apollo Management in a leveraged buyout transaction. It operates real estate brokerages and franchises real estate brokerage brands.
The document is Reliance Steel & Aluminum Co.'s Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2006. It includes the company's unaudited consolidated financial statements and notes. In the quarter, the company reported net sales of $987.9 million, net income of $71.9 million, and basic earnings per share of $2.17. The company also acquired certain assets of Flat Rock Metal Processing L.L.C. and completed its purchase of Everest Metals (Suzhou) Co., Ltd. during the quarter.
This document is Health Net Inc.'s quarterly report filed with the SEC for the second quarter of 2005. It includes financial statements such as the consolidated statement of operations and balance sheet, as well as notes. The report indicates that for the quarter, Health Net's total revenues were $3.02 billion, income from operations was $88.1 million, and net income was $53.6 million. Total assets at the end of the quarter were $3.6 billion, including over $939 million in cash and cash equivalents.
This document is a quarterly report filed by Health Net, Inc. with the SEC for the quarter ended March 31, 2007. It includes Health Net's unaudited consolidated financial statements for the first quarter of 2007, showing revenues of $3.4 billion, net income of $88.6 million, and basic earnings per share of $0.79. The report also provides information on Health Net's business segments, expenses, cash flows, and accounting policies.
This document is a quarterly report filed by Health Net, Inc. with the Securities and Exchange Commission for the quarter ended June 30, 2001. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discussions of legal proceedings, changes in securities, defaults on debt, and other regulatory disclosures.
This document is Reliance Steel & Aluminum Co.'s Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2007. It includes the company's unaudited consolidated financial statements and notes. The financial statements show that for the quarter, the company had net sales of $1.9 billion, net income of $122.8 million, and earnings per diluted share of $1.59. For the six months ended June 30, the company had net sales of $3.7 billion, net income of $234.5 million, and earnings per diluted share of $3.06. The report provides information on the company's financial position, results of operations, and cash
Citigroup reported its financial results for the first quarter of 2001. Net income decreased 8% compared to the first quarter of 2000. Core income, which excludes restructuring and accounting items, decreased 7%. Within its Global Consumer segment, Banking/Lending revenues increased 14% driven by growth in North America Cards, CitiFinancial, and Mortgage Banking. Core income for Banking/Lending increased 21% led by gains in North America Cards, CitiFinancial, and Citibanking North America. Overall, Citigroup's Global Consumer business saw revenues increase 10% and core income rise 18% compared to the first quarter of the prior year.
Citigroup reported financial results for the 4th quarter of 2008. Net income decreased 16% to a loss of $8.3 billion compared to a loss of $9.8 billion in 4th quarter 2007. Total revenues declined 13% to $5.6 billion. The provision for loan losses increased 66% to $12.7 billion due to higher credit costs. Total assets decreased 11% to $1.9 trillion and book value per share declined 35% to $14.70.
- eBay reported record Q4 2004 financial results, with net revenues of $935.8 million, up 44% year-over-year. Net income was $205.4 million, or $0.30 per diluted share.
- For the full year 2004, eBay generated net revenues of $3.27 billion, up 51% from 2003. Net income increased 76% to $778.2 million.
- eBay also announced a two-for-one stock split to take effect in February 2005.
This annual report summarizes Google's financial performance and business activities in 2007. Some key points:
- Revenue grew 48% to $16.6 billion while net income grew 31% to $4.2 billion.
- Google employed over 17,000 people across 20 countries.
- Search and advertising accounted for 70% of resources while applications like Gmail and Docs accounted for 20%. The remaining 10% went to newer areas like Android.
- Major acquisitions included YouTube and DoubleClick to enhance video and display advertising capabilities.
- Products like Google Maps, Earth, and Street View expanded into new areas like satellite imagery and panoramic street views.
- Initiatives aimed to make renewable energy
This document is Tesoro Corporation's quarterly report on Form 10-Q for the quarterly period ended March 31, 2006. It provides Tesoro's condensed consolidated financial statements including the balance sheet, statement of operations, and statement of cash flows. The balance sheet shows that as of March 31, 2006 Tesoro had total assets of $5.08 billion including $2.18 billion in current assets, and total liabilities of $1.90 billion including $1.50 billion in current liabilities. The statements of operations and cash flows provide financial results and cash flow information for the quarters ended March 31, 2006 and 2005.
This document is Tesoro Corporation's quarterly report on Form 10-Q for the quarterly period ended September 30, 2006. It provides financial statements and notes for the third quarter of 2006, including revenues of $5.28 billion and net earnings of $274 million. It also discusses Tesoro's two business segments: refining and retail.
This document is Reliance Steel & Aluminum Co.'s quarterly report filed with the SEC for the quarter ended March 31, 2008. It includes the company's consolidated balance sheets as of March 31, 2008 and December 31, 2007, as well as the consolidated statements of income and cash flows for the quarters ended March 31, 2008 and 2007. It also includes notes to the financial statements and sections on management's discussion of financial condition, market risk, controls and procedures, and various other disclosures.
valero energy Quarterly and Other SEC Reports 2005 1st finance2
This document is Valero Energy Corporation's Form 10-Q/A for the quarterly period ended March 31, 2005. It provides an amended quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. The amendment is being filed solely to include the conformed signature of the Registrant, which was inadvertently omitted from the original Form 10-Q filing. No other revisions have been made to the financial statements or disclosures. The document includes Valero's consolidated financial statements, management's discussion and analysis of financial condition and results of operations, quantitative and qualitative disclosures about market risk, controls and procedures disclosures, and other legal proceeding disclosures for the quarterly period.
This document is Tesoro Corporation's quarterly report on Form 10-Q for the quarterly period ended March 31, 2007. It provides condensed consolidated financial statements and notes for Tesoro, including the balance sheet, income statement, and cash flow statement. It also summarizes Tesoro's pending acquisition of refining and retail assets in Los Angeles from Shell Oil for $1.63 billion, expected to close in May 2007, and its recent acquisition of 138 USA Petroleum retail stations for $267 million plus inventory.
This document is a Form 10-Q quarterly report filed by Health Net, Inc. with the SEC for the quarter ended September 30, 2003. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also includes notes to the financial statements and sections for Management's Discussion and Analysis and controls and procedures.
This document is a Form 10-Q quarterly report filed by The AES Corporation with the SEC for the quarter ended June 30, 2006. The report includes condensed consolidated financial statements and notes. Specifically, it provides condensed consolidated statements of operations and balance sheets, as well as a discussion of revenues, costs, expenses, assets, liabilities and shareholders' equity for the quarter. The report indicates that AES generated total revenues of $3.038 billion for the quarter, with net income of $169 million. Total assets as of June 30, 2006 were $30.7 billion, with current assets of $4.684 billion.
valero energy Quarterly and Other SEC Reports 2007 2ndfinance2
This document is Valero Energy Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2007. It includes Valero's consolidated financial statements and notes for the quarter. Some key details include:
- Revenues for the quarter were $24.2 billion, with net income of $2.25 billion.
- Total assets as of June 30, 2007 were $40.35 billion, with total liabilities of $21.24 billion.
- Cash flows provided by operating activities for the first six months of 2007 were $4.35 billion.
This document is DaVita Inc.'s quarterly report filed with the SEC for the quarterly period ended September 30, 2007. It includes DaVita's consolidated statements of income, balance sheets, cash flows, and shareholders' equity. Some key details are:
- For the quarter, DaVita reported net income of $94.5 million on revenue of $1.3 billion.
- As of September 30, 2007, DaVita had $391.3 million in cash and cash equivalents and total assets of $6.8 billion.
- For the nine months ended September 30, 2007, DaVita's net income was $296.1 million on revenue of $3.
This document is Health Net Inc.'s quarterly report filed with the SEC for the quarter ended September 30, 2008. It includes Health Net's consolidated statements of operations, balance sheets, statements of cash flows, and notes to the financial statements. The statements show that for the quarter, Health Net reported net income of $18.5 million on revenues of $3.8 billion. For the nine months ended September 30, 2008, Health Net reported net income of $59.5 million on revenues of $11.5 billion. As of September 30, 2008, Health Net held $3.5 billion in current assets, including $1.8 billion in investments, and total assets of $4.7 billion including $
valero energy Quarterly and Other SEC Reports 2005 2nd finance2
This document is Valero Energy Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2005. It includes Valero's consolidated financial statements and notes for the quarter. The financial statements show that Valero's revenues increased to $18 billion for the quarter while net income applicable to common stock was $843 million. Management's discussion and analysis section provides details on Valero's operating results and liquidity and capital resources position for the period.
This document is Realogy Corporation's quarterly report filed with the SEC for the quarter ended June 30, 2008. It includes condensed consolidated financial statements for the second quarter of 2008, the first quarter of 2008, and comparative periods in 2007. It also includes notes to the financial statements and sections for management's discussion of financial results, market risk disclosures, and certifications of internal controls. Realogy is a large residential real estate services company that was spun off from Cendant Corporation and acquired by Apollo Management in a leveraged buyout transaction. It operates real estate brokerages and franchises real estate brokerage brands.
The document is Reliance Steel & Aluminum Co.'s Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2006. It includes the company's unaudited consolidated financial statements and notes. In the quarter, the company reported net sales of $987.9 million, net income of $71.9 million, and basic earnings per share of $2.17. The company also acquired certain assets of Flat Rock Metal Processing L.L.C. and completed its purchase of Everest Metals (Suzhou) Co., Ltd. during the quarter.
This document is Health Net Inc.'s quarterly report filed with the SEC for the second quarter of 2005. It includes financial statements such as the consolidated statement of operations and balance sheet, as well as notes. The report indicates that for the quarter, Health Net's total revenues were $3.02 billion, income from operations was $88.1 million, and net income was $53.6 million. Total assets at the end of the quarter were $3.6 billion, including over $939 million in cash and cash equivalents.
This document is a quarterly report filed by Health Net, Inc. with the SEC for the quarter ended March 31, 2007. It includes Health Net's unaudited consolidated financial statements for the first quarter of 2007, showing revenues of $3.4 billion, net income of $88.6 million, and basic earnings per share of $0.79. The report also provides information on Health Net's business segments, expenses, cash flows, and accounting policies.
This document is a quarterly report filed by Health Net, Inc. with the Securities and Exchange Commission for the quarter ended June 30, 2001. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discussions of legal proceedings, changes in securities, defaults on debt, and other regulatory disclosures.
This document is Reliance Steel & Aluminum Co.'s Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2007. It includes the company's unaudited consolidated financial statements and notes. The financial statements show that for the quarter, the company had net sales of $1.9 billion, net income of $122.8 million, and earnings per diluted share of $1.59. For the six months ended June 30, the company had net sales of $3.7 billion, net income of $234.5 million, and earnings per diluted share of $3.06. The report provides information on the company's financial position, results of operations, and cash
Citigroup reported its financial results for the first quarter of 2001. Net income decreased 8% compared to the first quarter of 2000. Core income, which excludes restructuring and accounting items, decreased 7%. Within its Global Consumer segment, Banking/Lending revenues increased 14% driven by growth in North America Cards, CitiFinancial, and Mortgage Banking. Core income for Banking/Lending increased 21% led by gains in North America Cards, CitiFinancial, and Citibanking North America. Overall, Citigroup's Global Consumer business saw revenues increase 10% and core income rise 18% compared to the first quarter of the prior year.
Citigroup reported financial results for the 4th quarter of 2008. Net income decreased 16% to a loss of $8.3 billion compared to a loss of $9.8 billion in 4th quarter 2007. Total revenues declined 13% to $5.6 billion. The provision for loan losses increased 66% to $12.7 billion due to higher credit costs. Total assets decreased 11% to $1.9 trillion and book value per share declined 35% to $14.70.
- eBay reported record Q4 2004 financial results, with net revenues of $935.8 million, up 44% year-over-year. Net income was $205.4 million, or $0.30 per diluted share.
- For the full year 2004, eBay generated net revenues of $3.27 billion, up 51% from 2003. Net income increased 76% to $778.2 million.
- eBay also announced a two-for-one stock split to take effect in February 2005.
This annual report summarizes Google's financial performance and business activities in 2007. Some key points:
- Revenue grew 48% to $16.6 billion while net income grew 31% to $4.2 billion.
- Google employed over 17,000 people across 20 countries.
- Search and advertising accounted for 70% of resources while applications like Gmail and Docs accounted for 20%. The remaining 10% went to newer areas like Android.
- Major acquisitions included YouTube and DoubleClick to enhance video and display advertising capabilities.
- Products like Google Maps, Earth, and Street View expanded into new areas like satellite imagery and panoramic street views.
- Initiatives aimed to make renewable energy
- Citigroup reported quarterly financial results for 3Q 2000, with net income of $3.088 billion, up 27% from 3Q 1999. Core income was $3.111 billion for the quarter, also up 27% year-over-year.
- Total revenues for Citigroup's Global Consumer segment were $7.515 billion in 3Q 2000, up 5% from 3Q 1999. The Global Corporate and Investment Bank segment reported revenues of $8.097 billion, a 26% increase.
- Total assets reached $805 billion in 3Q 2000, up from $686.8 billion in 3Q 1999. Book value per share increased to $11.55 from $9
- eBay reported record first quarter financial results for 2007 with net revenues of $1.77 billion, a 27% increase over the previous year.
- GAAP earnings per share were $0.27 and non-GAAP earnings per share were $0.33, both representing increases over the previous year.
- Based on the strong first quarter results, eBay raised its full year 2007 guidance for net revenues and earnings per share.
Google reported strong financial results for Q2 2008, with revenue growth of 39% year-over-year and 3% quarter-over-quarter. Google properties revenue grew 42% year-over-year and 4% quarter-over-quarter. International revenues continued to grow strongly, reaching $2.8 billion in Q2. Google also acquired DoubleClick, giving it a leading display advertising platform.
Citigroup reported first quarter 2022 core income of $3.86 billion, up 5% from the first quarter of 2021. However, core income included an $816 million pre-tax charge related to economic conditions in Argentina. Revenue for the quarter increased 5% to $22 billion. Net income, including a $1.06 billion gain from the Travelers IPO, was $4.84 billion, up 37% from the prior year. The CEO commented that core businesses delivered strong results despite difficult economic conditions and charges related to Argentina. Key highlights included strong performance in global consumer businesses and the investment bank.
Citigroup reported a net loss of $5.1 billion for the first quarter of 2008, compared to net income of $5 billion for the first quarter of 2007. Revenues declined 48% to $13.2 billion for the quarter. The global consumer business reported a net income of $1.4 billion, down 45% from the prior year, with the U.S. consumer business reporting net income of $279 million, down 84%. Markets and Banking reported a net loss of $5.7 billion for the quarter compared to net income of $2.7 billion in the prior year.
eBay reported record financial results for Q4 2005 and full year 2005. Some key highlights:
- Q4 2005 net revenues reached $1.329 billion, a 42% increase over Q4 2004.
- Full year 2005 net revenues were $4.552 billion, a 39% increase over 2004.
- Q4 2005 earnings per share were $0.20 (GAAP) and $0.24 (pro forma), exceeding guidance.
- For 2006, eBay expects net revenues between $5.7-5.9 billion and earnings per share of $0.65-0.71 (GAAP) and $0.96-1.01 (pro forma).
Citigroup reported financial results for the third quarter of 2008. Net income decreased significantly compared to the third quarter of 2007, dropping from $2.2 billion to a $2.8 billion loss. Total revenues declined 23% versus the prior year. The provision for loan losses increased 86% to $9.1 billion due to higher credit costs. Expenses rose modestly while assets and loans declined year-over-year. Overall, Citigroup experienced weak results across business segments as the financial crisis impacted performance.
eBay reported record financial results for Q4 2003, with net revenues of $648 million, up 57% year-over-year. Net income was $142.5 million, or $0.21 per share. For the full year, net revenues were $2.17 billion, up 78%, and net income was $441.8 million, or $0.67 per share. eBay also provided guidance for 2004, estimating net revenues of up to $3 billion and GAAP EPS of up to $0.99.
Citigroup reported financial results for the second quarter of 2000. Core income increased 21% compared to the second quarter of 1999 to $3.007 billion. Total revenues for the quarter were $16.373 billion, a 10% increase year-over-year. Most of Citigroup's business segments saw revenue and core income growth compared to the previous year. Global Consumer revenues were $7.473 billion, up 6% from the second quarter of 1999. Global Corporate and Investment Bank revenues were $7.855 billion, a 13% increase. Citigroup's preliminary Tier 1 capital ratio was 8.6% for the second quarter of 2000.
Citigroup reported quarterly financial results, with net income of $3.92 billion for 3Q 2002, a 23% increase over 3Q 2001. Core income, which excludes certain items, was $3.79 billion for 3Q 2002, up 17% from the prior year. Diluted earnings per share on net income were $0.76 for the quarter, rising 25% year-over-year, while diluted EPS on core income increased 19% to $0.74. Citigroup operates as a global financial services company with over 200 million customer accounts in more than 100 countries.
This document is Health Net, Inc.'s quarterly report filed with the SEC for the quarter ended September 30, 2005. It includes Health Net's consolidated statements of operations, balance sheets, stockholders' equity, and cash flows for the periods presented. The report provides key financial information about Health Net's revenues, expenses, assets, liabilities and stockholders' equity for the relevant periods. It also includes management's discussion and analysis of the company's financial condition and operating results, as well as disclosures about controls and procedures.
valero energy Quarterly and Other SEC Reports 2006 2ndfinance2
This document is Valero Energy Corporation's quarterly report filed with the SEC for the quarter ended June 30, 2006. It includes Valero's consolidated balance sheets, statements of income, cash flows, and comprehensive income for the three and six month periods ended June 30, 2006 and 2005. The financial statements show that for the quarter ended June 30, 2006, Valero had net income of $1.9 billion on revenues of $26.8 billion, compared to net income of $847 million on revenues of $18 billion for the same period in 2005. For the six months ended June 30, 2006, Valero had net income of $2.7 billion on revenues of $47.7 billion, compared to net
valero energy Quarterly and Other SEC Reports2006 3rdfinance2
This document is Valero Energy Corporation's quarterly report on Form 10-Q for the quarter ended September 30, 2006 filed with the SEC. It includes Valero's consolidated financial statements and notes for the periods presented. Some key details include:
- Valero reported net income of $1.6 billion for the third quarter of 2006 compared to $862 million for the same period in 2005.
- Total operating revenues for the third quarter of 2006 were $24.3 billion compared to $23.3 billion in the third quarter of 2005.
- As of September 30, 2006, Valero had total assets of $36.6 billion and total stockholders' equity of $17.8 billion
1) International Paper Company filed a quarterly report on Form 10-Q with the SEC for the quarter ended September 30, 2006.
2) The report provides International Paper's consolidated financial statements and Management's Discussion and Analysis of Financial Condition and Results of Operations for the three and nine month periods ended September 30, 2006.
3) International Paper reported net earnings of $179 million and $1,005 million for the three and nine month periods ended September 30, 2006, respectively.
This document is a Form 10-Q quarterly report filed by Health Net, Inc. with the SEC for the quarter ended June 30, 2003. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discussions of the company's financial condition, results of operations, liquidity, capital resources and critical accounting policies for the reporting period.
This document is a quarterly report filed with the SEC by Health Net, Inc. for the quarter ended June 30, 2007. It includes Health Net's consolidated statements of operations, balance sheets, statements of cash flows, and notes to the financial statements. For the quarter, Health Net reported total revenues of $3.5 billion, net income of $92 million, and diluted earnings per share of $0.80. As of June 30, 2007, Health Net held $3.5 billion in current assets including $976 million in cash, $1.4 billion in investments, and $1.4 billion in non-current assets including goodwill of $752 million.
This document is a Form 10-Q quarterly report filed by The AES Corporation with the SEC for the quarterly period ended September 30, 2005. The summary includes:
1) AES reported revenues of $2.78 billion for the third quarter of 2005, up from $2.42 billion in the third quarter of 2004. Net income was $244 million compared to $93 million in the prior year period.
2) For the nine months ended September 30, 2005, revenues were $8.11 billion compared to $6.94 billion in 2004. Net income was $453 million versus $183 million in the same period of 2004.
3) The 10-Q filing includes condensed consolidated financial
This document is Visteon Corporation's quarterly report filed with the SEC for the quarter ended September 30, 2006. It includes an index of contents, unaudited consolidated financial statements including statements of operations, balance sheets, and cash flows for the periods ended September 30, 2006 and 2005. It also includes notes to the financial statements and sections covering management's discussion of financial conditions, market risk disclosures, controls and procedures, legal proceedings, and newly required risk factors disclosures.
This document is a quarterly report filed by Health Net, Inc. with the SEC for the quarter ended March 31, 2005. It includes condensed consolidated balance sheets, statements of operations, and statements of cash flows. The balance sheet shows the company had total assets of $3.79 billion as of March 31, 2005, including $766 million in cash. Total liabilities were $2.48 billion. For the quarter, the company reported total revenues of $2.91 billion, including $2.4 billion in health plan services premiums and $497 million from government contracts.
This document is Tesoro Corporation's quarterly report on Form 10-Q for the quarterly period ended September 30, 2005. It provides Tesoro's condensed consolidated financial statements and notes for the periods, including the balance sheet, income statement, cash flow statement, and selected notes. It also includes Tesoro's business segments, revenues, costs, assets, liabilities, and stockholders' equity.
This document is a quarterly report filed with the SEC by Health Net, Inc. It provides financial statements and other information for the quarter ended June 30, 2008. The report indicates that total revenues for the quarter were $3.8 billion, with net income of $76.7 million. Expenses totaled $3.7 billion. For the six months ended June 30, 2008, total revenues were $7.7 billion and net income was $41 million. The balance sheet lists total assets of $3.6 billion as of June 30, 2008, including $760.6 million in cash and $1.5 billion in investments.
This document is The AES Corporation's quarterly report filed with the SEC for the quarter ending September 30, 2002. It includes consolidated statements of operations, balance sheets, and cash flows. The report shows that for the quarter, AES reported a loss before taxes of $125 million compared to income of $14 million in the prior year. For the nine months, AES reported income before taxes of $7 million compared to $473 million in the previous year. Several items contributed significantly lower results including higher interest expense, foreign currency losses, and losses from investments.
This document is The AES Corporation's Form 10-Q filing for the quarterly period ended March 31, 2006. It includes condensed consolidated financial statements such as the income statement, balance sheet, and cash flow statement. It also includes notes to the financial statements and sections for management's discussion of financial results, market risk disclosures, and certifications of internal controls. The filing indicates that for the quarter ended March 31, 2006, AES reported net income of $351 million on revenues of $3.01 billion, compared to net income of $124 million on revenues of $2.66 billion for the same quarter in 2005.
This document is Reliance Steel & Aluminum Co.'s quarterly report filed with the SEC for the quarter ended September 30, 2006. It includes their consolidated balance sheet, income statement, and cash flow statement for the periods ended September 30, 2006 and 2005. It also discusses their acquisition activity, earnings per share, dividends paid, and provides information on shares outstanding.
- Calpine Corporation filed a quarterly report on Form 10-Q with the SEC for the quarter ended September 30, 2005.
- The filing includes consolidated condensed financial statements, including a balance sheet, statement of operations, and statement of cash flows.
- As of September 30, 2005, Calpine had total assets of $27.1 billion and total liabilities of $4.5 billion, with current assets of $5 billion including $843 million in cash and current liabilities of $4.5 billion.
- Calpine Corporation filed a quarterly report on Form 10-Q with the SEC for the quarter ended September 30, 2005.
- The filing includes consolidated condensed balance sheets, statements of operations, and statements of cash flows for the periods presented.
- It provides notes and details around Calpine's organization, accounting policies, strategic initiatives, debt, derivatives, contingencies and other disclosures.
This document is Health Net, Inc.'s quarterly report filed with the SEC for the quarter ended September 30, 2001. It includes Health Net's condensed consolidated balance sheets, statements of operations, and statements of cash flows for the quarters and year-to-date periods ended September 30, 2001 and 2000. The report provides key financial information on Health Net's revenues, expenses, assets, liabilities and stockholders' equity.
valero energy Quarterly and Other SEC Reports 2005 3rdfinance2
This document is Valero Energy Corporation's quarterly report filed with the SEC for the third quarter of 2005. It includes Valero's consolidated balance sheets, statements of income, cash flows, and comprehensive income for the three and nine month periods ended September 30, 2005 and 2004. It also provides condensed notes to the financial statements describing Valero's basis of presentation, principles of consolidation, significant accounting policies, and other relevant financial information.
This document is Realogy Corporation's quarterly report filed with the SEC for the quarter ended June 30, 2008. It includes condensed consolidated financial statements for the second quarter of 2008, the first quarter of 2008, and comparative periods in 2007. It also includes notes to the financial statements and sections for management's discussion of financial results, market risk disclosures, and certifications of internal controls. Realogy is a large residential real estate services company that was spun off from Cendant Corporation and acquired by Apollo Management in a leveraged buyout transaction. It operates real estate brokerages and franchises real estate brokerage brands.
Citibanking North America reported a 14% increase in total revenues and a 92% increase in core income for Q1 2000 compared to Q1 1999. Key drivers included an 86% increase in core income before taxes due to higher non-interest revenue and lower loan loss provisions. Average loans declined 5% while average deposits grew 5%. Asset quality improved with delinquencies and net credit losses declining.
Citigroup reported record earnings for the first quarter of 2000, with core income rising 49% to $3.6 billion compared to the same period last year. Several of Citigroup's business lines saw double-digit earnings growth, including Global Consumer (up 23%), Global Corporate and Investment Bank (up 36%), and Global Investment Management (up 26%). Strong performance across all regions and business segments was driven by favorable global market conditions. Return on equity was 30% and the company repurchased $1.2 billion in stock during the quarter.
This document provides quarterly financial data for Citigroup, including:
- Consolidated financial summaries showing metrics like core income, net income, earnings per share, capital ratios, assets, and returns on equity.
- Segment net revenues and core income broken down by Citigroup's main business segments - Global Consumer, Global Corporate and Investment Bank, and Global Investment Management.
- More detailed financial results for the major businesses within Global Consumer like North America Cards, Mortgage Banking, and International.
- Supplemental financial details including consolidated statements of income, earnings analysis, loan delinquency amounts, and insurance investment portfolio information.
The document contains quarterly and year-to-
Citigroup reported strong financial results for the second quarter and first half of 2000. Core income rose 21% to $3.0 billion for the second quarter and 35% to $6.6 billion for the first half of the year. All of Citigroup's major business segments experienced double-digit income growth, led by the Global Consumer Group and Global Corporate and Investment Bank. Citigroup continued making acquisitions and investments to expand its global businesses and presence on the internet. Chairman and CEO Sanford Weill stated the results demonstrated the impact of the company's market share gains and consistent growth across its businesses.
Citigroup reported its third quarter 2000 financial results. Key highlights include:
- Core income for 3Q 2000 was $3.11 billion, up 27% from 3Q 1999. Year-to-date core income through 3Q 2000 was $9.72 billion, up 32% from the same period in 1999.
- Net income for 3Q 2000 was $3.088 billion, up 27% from 3Q 1999. Year-to-date net income through 3Q 2000 was $9.683 billion, up 34% from the same period in 1999.
- Basic earnings per share for core income in 3Q 2000 was $0.69, up 28% from 3Q 1999.
Citigroup reported strong third quarter results for 2000, with core income rising 27% to $3.1 billion compared to the third quarter of 1999. Key highlights included:
- Global Consumer core income rose 17% to $1.32 billion, driven by growth in North American cards, mortgage banking, and Asia.
- Global Corporate and Investment Bank core income increased 40% to $1.59 billion, with strong performances from Salomon Smith Barney and emerging markets banking.
- Global Investment Management and Private Banking core income grew 14% to $176 million, with increased revenues across asset management, private banking, and retirement services.
Citigroup reported its quarterly financial results. Some key highlights:
- Core income for Q4 2000 was $3.331 billion, up 11% from Q4 1999.
- Net income for Q4 2000 was $2.84 billion, down 6% from Q4 1999 due to restructuring charges.
- Global Consumer segment revenues grew 9% to $10.243 billion in Q4 2000.
- Global Corporates and Institutions segment revenues grew 16% to $8.464 billion in Q4 2000.
Citigroup reported strong 4th quarter and full-year 2000 earnings. 4th quarter core income was $3.33 billion, an 11% increase, and full-year core income was a record $14.14 billion, up 25%. All of Citigroup's major business segments saw growth in the 4th quarter, led by the Global Consumer Group at 25% growth. For the full year, net income was $13.52 billion. Chairman and CEO Sanford Weill cited the company's global strength and leadership across business lines. Citigroup continued investments in growing markets and internet capabilities.
Citigroup reported its quarterly financial results. Core income decreased 7% from the prior year quarter to $3.66 billion. Total revenues declined across most business segments, with the exception of the Global Consumer segment which increased revenues slightly. Overall, Citigroup saw lower earnings due to weaker market conditions impacting its trading and investment banking businesses. Capital ratios and credit quality metrics remained strong however, positioning Citigroup well despite the challenging environment.
Citigroup reported core income of $3.66 billion for Q1 2001, a 7% decrease from Q1 2000. Excluding investment activities, core income rose 7% year-over-year. Global Consumer saw core income increase 18% to $1.78 billion driven by growth in US banking and lending. Global Corporate core income declined 7% to $1.75 billion due to weaker investment markets, though revenues grew 11%. Overall, Citigroup achieved solid results despite challenging markets due to the strength and diversity of its businesses.
Citigroup, the largest global financial services company, reported quarterly financial results. Core income decreased 7% year-over-year to $3.66 billion, while net income decreased 8% to $3.54 billion. Revenues increased 6% to $21.05 billion driven by strong growth in North America Cards, Corporate Finance, and emerging markets. Citibanking North America revenues increased 6% to $613 million with core income before taxes up 24% to $271 million.
Citigroup reported its financial results for the first quarter of 2001. Net income decreased 8% compared to the first quarter of 2000. Core income, which excludes restructuring and accounting items, decreased 7%. Within Global Consumer, Banking/Lending revenues increased 14% driven by growth in North America Cards, CitiFinancial, and Mortgage Banking. Core income for Banking/Lending increased 21% led by gains in North America Cards, CitiFinancial, and Citibanking North America.
Citigroup reported a 13% increase in core income to $3.79 billion for Q2 2001 compared to Q2 2000. Revenue grew 8% to $20.3 billion led by 12% growth in the Global Consumer segment. Core EPS grew 14% to $0.74 per share. Several business segments saw strong growth including 40% growth for CitiFinancial, 17% for North America Cards, and 18% for the Private Bank. Despite difficult market conditions, Corporate Finance delivered 12% earnings growth through increased market share.
Citigroup reported quarterly financial data for 3Q 2001. Some key highlights:
- Core income was $3.262 billion for 3Q 2001, down 8% from 3Q 2000. Year-to-date core income was $10.707 billion, down 1% from the same period in 2000.
- Total revenues for 3Q 2001 were $20.294 billion, up 5% from 3Q 2000. Year-to-date total revenues were $61.656 billion, up 6% from the same period in 2000.
- Global Consumer revenues grew 19% to $11.661 billion in 3Q 2001, driven by strength in North America Cards and Banking/L
Citigroup reported financial results for the third quarter of 2001. Citigroup is a global financial services company with operations in over 100 countries. Some key highlights:
- Core income for 3Q 2001 was $3.26 billion, down 8% from 3Q 2000. Year-to-date core income was $10.7 billion, down 1% from the same period in 2000.
- Total revenues for Global Consumer operations were $11.66 billion for 3Q 2001, up 19% from 3Q 2000, driven by growth in North America Cards and Mortgage Banking.
- Revenues for Global Corporate were $8.01 billion for 3Q 2001, down 5% from 3
Citigroup reported third quarter core income of $3.26 billion, down 7% from the prior year due to $700 million in losses from the September 11th attacks. Revenue grew 5% to $20.29 billion while expenses declined 2%. The diversification of Citigroup's businesses allowed growth in many areas, including a 45% increase in CitiFinancial income and a 25% rise in Citibanking income, despite challenges in the market environment from the attacks. Sanford Weill, CEO, expressed confidence that Citigroup would deliver 15% earnings growth in the fourth quarter assuming a stable market.
Citigroup reported its quarterly financial results. Net income for 4Q 2001 was $3.875 billion, up 36% from 4Q 2000. Core income, which excludes certain items, was $3.862 billion for 4Q 2001, up 16% from the prior year. Total revenues for Global Consumer increased 20% to $11.207 billion compared to 4Q 2000, driven by growth in North America Cards, Citibanking North America, and Mortgage Banking. Revenues for Global Corporate were relatively flat compared to the prior year.
Citigroup reported quarterly financial results. Global core income was $3.859 billion for Q1 2002, up 5% from Q1 2001. By segment, global consumer core income grew 20% to $1.812 billion, while global corporate and investment banking core income fell 13% to $1.286 billion. On a regional basis, core income from North America grew 20% to $2.479 billion, while core income from Western Europe fell 41% to $171 million.
Citigroup reported financial results for the first quarter of 2002, with the following highlights:
- Core income increased 5% compared to first quarter 2001 to $3.859 billion. Net income increased 37% to $4.843 billion, helped by a gain on sale of stock by a subsidiary.
- Global Consumer segment saw increases in core income for Cards (2%), Consumer Finance (35%), and Retail Banking (29%) compared to first quarter 2001.
- Capital ratios improved, with Tier 1 capital ratio at 9.13% versus 8.56% in first quarter 2001, reflecting Citigroup's overall financial strength.
- Total assets were $1.057 trillion
Citigroup reported a 23% increase in third quarter net income to $3.92 billion compared to the prior year. Core income, which excludes certain one-time items, rose 17% to $3.79 billion. Earnings per share increased 25% and 19% respectively. Revenues increased 10% for the quarter driven by strong performance across business segments, though credit costs remained high. For the first nine months of the year, net income rose 25% while core income increased 14% on 10% higher revenues.
OpenID AuthZEN Interop Read Out - AuthorizationDavid Brossard
During Identiverse 2024 and EIC 2024, members of the OpenID AuthZEN WG got together and demoed their authorization endpoints conforming to the AuthZEN API
Threats to mobile devices are more prevalent and increasing in scope and complexity. Users of mobile devices desire to take full advantage of the features
available on those devices, but many of the features provide convenience and capability but sacrifice security. This best practices guide outlines steps the users can take to better protect personal devices and information.
HCL Notes and Domino License Cost Reduction in the World of DLAUpanagenda
Webinar Recording: https://www.panagenda.com/webinars/hcl-notes-and-domino-license-cost-reduction-in-the-world-of-dlau/
The introduction of DLAU and the CCB & CCX licensing model caused quite a stir in the HCL community. As a Notes and Domino customer, you may have faced challenges with unexpected user counts and license costs. You probably have questions on how this new licensing approach works and how to benefit from it. Most importantly, you likely have budget constraints and want to save money where possible. Don’t worry, we can help with all of this!
We’ll show you how to fix common misconfigurations that cause higher-than-expected user counts, and how to identify accounts which you can deactivate to save money. There are also frequent patterns that can cause unnecessary cost, like using a person document instead of a mail-in for shared mailboxes. We’ll provide examples and solutions for those as well. And naturally we’ll explain the new licensing model.
Join HCL Ambassador Marc Thomas in this webinar with a special guest appearance from Franz Walder. It will give you the tools and know-how to stay on top of what is going on with Domino licensing. You will be able lower your cost through an optimized configuration and keep it low going forward.
These topics will be covered
- Reducing license cost by finding and fixing misconfigurations and superfluous accounts
- How do CCB and CCX licenses really work?
- Understanding the DLAU tool and how to best utilize it
- Tips for common problem areas, like team mailboxes, functional/test users, etc
- Practical examples and best practices to implement right away
TrustArc Webinar - 2024 Global Privacy SurveyTrustArc
How does your privacy program stack up against your peers? What challenges are privacy teams tackling and prioritizing in 2024?
In the fifth annual Global Privacy Benchmarks Survey, we asked over 1,800 global privacy professionals and business executives to share their perspectives on the current state of privacy inside and outside of their organizations. This year’s report focused on emerging areas of importance for privacy and compliance professionals, including considerations and implications of Artificial Intelligence (AI) technologies, building brand trust, and different approaches for achieving higher privacy competence scores.
See how organizational priorities and strategic approaches to data security and privacy are evolving around the globe.
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- The top 10 privacy insights from the fifth annual Global Privacy Benchmarks Survey
- The top challenges for privacy leaders, practitioners, and organizations in 2024
- Key themes to consider in developing and maintaining your privacy program
Generating privacy-protected synthetic data using Secludy and MilvusZilliz
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AI 101: An Introduction to the Basics and Impact of Artificial IntelligenceIndexBug
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CAKE: Sharing Slices of Confidential Data on BlockchainClaudio Di Ciccio
Presented at the CAiSE 2024 Forum, Intelligent Information Systems, June 6th, Limassol, Cyprus.
Synopsis: Cooperative information systems typically involve various entities in a collaborative process within a distributed environment. Blockchain technology offers a mechanism for automating such processes, even when only partial trust exists among participants. The data stored on the blockchain is replicated across all nodes in the network, ensuring accessibility to all participants. While this aspect facilitates traceability, integrity, and persistence, it poses challenges for adopting public blockchains in enterprise settings due to confidentiality issues. In this paper, we present a software tool named Control Access via Key Encryption (CAKE), designed to ensure data confidentiality in scenarios involving public blockchains. After outlining its core components and functionalities, we showcase the application of CAKE in the context of a real-world cyber-security project within the logistics domain.
Paper: https://doi.org/10.1007/978-3-031-61000-4_16
Ivanti’s Patch Tuesday breakdown goes beyond patching your applications and brings you the intelligence and guidance needed to prioritize where to focus your attention first. Catch early analysis on our Ivanti blog, then join industry expert Chris Goettl for the Patch Tuesday Webinar Event. There we’ll do a deep dive into each of the bulletins and give guidance on the risks associated with the newly-identified vulnerabilities.
Ocean lotus Threat actors project by John Sitima 2024 (1).pptxSitimaJohn
Ocean Lotus cyber threat actors represent a sophisticated, persistent, and politically motivated group that poses a significant risk to organizations and individuals in the Southeast Asian region. Their continuous evolution and adaptability underscore the need for robust cybersecurity measures and international cooperation to identify and mitigate the threats posed by such advanced persistent threat groups.
Cosa hanno in comune un mattoncino Lego e la backdoor XZ?Speck&Tech
ABSTRACT: A prima vista, un mattoncino Lego e la backdoor XZ potrebbero avere in comune il fatto di essere entrambi blocchi di costruzione, o dipendenze di progetti creativi e software. La realtà è che un mattoncino Lego e il caso della backdoor XZ hanno molto di più di tutto ciò in comune.
Partecipate alla presentazione per immergervi in una storia di interoperabilità, standard e formati aperti, per poi discutere del ruolo importante che i contributori hanno in una comunità open source sostenibile.
BIO: Sostenitrice del software libero e dei formati standard e aperti. È stata un membro attivo dei progetti Fedora e openSUSE e ha co-fondato l'Associazione LibreItalia dove è stata coinvolta in diversi eventi, migrazioni e formazione relativi a LibreOffice. In precedenza ha lavorato a migrazioni e corsi di formazione su LibreOffice per diverse amministrazioni pubbliche e privati. Da gennaio 2020 lavora in SUSE come Software Release Engineer per Uyuni e SUSE Manager e quando non segue la sua passione per i computer e per Geeko coltiva la sua curiosità per l'astronomia (da cui deriva il suo nickname deneb_alpha).
Let's Integrate MuleSoft RPA, COMPOSER, APM with AWS IDP along with Slackshyamraj55
Discover the seamless integration of RPA (Robotic Process Automation), COMPOSER, and APM with AWS IDP enhanced with Slack notifications. Explore how these technologies converge to streamline workflows, optimize performance, and ensure secure access, all while leveraging the power of AWS IDP and real-time communication via Slack notifications.
Programming Foundation Models with DSPy - Meetup SlidesZilliz
Prompting language models is hard, while programming language models is easy. In this talk, I will discuss the state-of-the-art framework DSPy for programming foundation models with its powerful optimizers and runtime constraint system.
In the rapidly evolving landscape of technologies, XML continues to play a vital role in structuring, storing, and transporting data across diverse systems. The recent advancements in artificial intelligence (AI) present new methodologies for enhancing XML development workflows, introducing efficiency, automation, and intelligent capabilities. This presentation will outline the scope and perspective of utilizing AI in XML development. The potential benefits and the possible pitfalls will be highlighted, providing a balanced view of the subject.
We will explore the capabilities of AI in understanding XML markup languages and autonomously creating structured XML content. Additionally, we will examine the capacity of AI to enrich plain text with appropriate XML markup. Practical examples and methodological guidelines will be provided to elucidate how AI can be effectively prompted to interpret and generate accurate XML markup.
Further emphasis will be placed on the role of AI in developing XSLT, or schemas such as XSD and Schematron. We will address the techniques and strategies adopted to create prompts for generating code, explaining code, or refactoring the code, and the results achieved.
The discussion will extend to how AI can be used to transform XML content. In particular, the focus will be on the use of AI XPath extension functions in XSLT, Schematron, Schematron Quick Fixes, or for XML content refactoring.
The presentation aims to deliver a comprehensive overview of AI usage in XML development, providing attendees with the necessary knowledge to make informed decisions. Whether you’re at the early stages of adopting AI or considering integrating it in advanced XML development, this presentation will cover all levels of expertise.
By highlighting the potential advantages and challenges of integrating AI with XML development tools and languages, the presentation seeks to inspire thoughtful conversation around the future of XML development. We’ll not only delve into the technical aspects of AI-powered XML development but also discuss practical implications and possible future directions.
Taking AI to the Next Level in Manufacturing.pdfssuserfac0301
Read Taking AI to the Next Level in Manufacturing to gain insights on AI adoption in the manufacturing industry, such as:
1. How quickly AI is being implemented in manufacturing.
2. Which barriers stand in the way of AI adoption.
3. How data quality and governance form the backbone of AI.
4. Organizational processes and structures that may inhibit effective AI adoption.
6. Ideas and approaches to help build your organization's AI strategy.
1. UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2006
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
Commission file number: 000-50726
Google Inc.
(Exact name of registrant as specified in its charter)
Delaware 77-0493581
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
1600 Amphitheatre Parkway
Mountain View, CA 94043
(Address of principal executive offices)
(Zip Code)
(650) 253-4000
(Registrant’s telephone number, including area code)
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See
definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer Accelerated filer Non-accelerated filer
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Yes No
Act).
At October 31, 2006, the number of shares outstanding of Google’s Class A common stock was 223,387,165 shares and the
number of shares outstanding of Google’s Class B common stock was 82,769,908 shares.
1
2. GOOGLE INC.
INDEX
Page No.
PART I. FINANCIAL INFORMATION
Item 1 .. Financial Statements ..............................................................................................................................................................
3
Condensed Consolidated Balance Sheets—December 31, 2005 and September 30, 2006 (unaudited)...........................
Condensed Consolidated Statements of Income—Three and Nine Months Ended September 30, 2005 and 2006
4
(unaudited) .........................................................................................................................................................................
Condensed Consolidated Statements of Cash Flows—Nine Months Ended September 30, 2005 and 2006
5
(unaudited) .........................................................................................................................................................................
6
Notes to Condensed Consolidated Financial Statements (Unaudited) ...............................................................................
Item 2 .. Management’s Discussion and Analysis of Financial Condition and Results of Operations ........................................... 23
Item 3 .. Quantitative and Qualitative Disclosures About Market Risk ............................................................................................ 38
Item 4 .. Controls and Procedures ........................................................................................................................................................ 39
PART II. OTHER INFORMATION
Item 1 .. Legal Proceedings .................................................................................................................................................................. 40
Item 1A
40
........ Risk Factors ............................................................................................................................................................................
Item 2 .. Unregistered Sales of Equity Securities and Use of Proceeds............................................................................................. 55
Item 6 .. Exhibits ................................................................................................................................................................................... 56
57
Signatures................................................................................................................................................................................
Exhibit Index ..........................................................................................................................................................................
Certifications...........................................................................................................................................................................
2
3. PART I—FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
GOOGLE INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except par value)
As of As of
December 31, September 30,
2005 2006
(unaudited)
Assets
Current assets:
Cash and cash equivalents ........................................................................................................................$ 3,877,174 $ 3,038,341
Marketable securities ................................................................................................................................ 4,157,073 7,390,374
Accounts receivable, net of allowance of $14,852 and $20,870 ........................................................... 687,976 1,031,055
Deferred income taxes, net....................................................................................................................... 49,341 51,532
Prepaid revenue share, expenses and other assets .................................................................................. 229,507 346,941
Total current assets ................................................................................................................................... 9,001,071 11,858,243
Deferred income taxes, net, non-current ........................................................................................................... — 49,643
Prepaid revenue share, expenses and other assets, non-current....................................................................... 16,941 67,890
Non-marketable equity securities ...................................................................................................................... 14,369 1,028,591
Property and equipment, net............................................................................................................................... 961,749 2,174,314
Intangible assets, net ........................................................................................................................................... 82,783 177,406
Goodwill .............................................................................................................................................................. 194,900 337,145
Total assets .......................................................................................................................................................... 10,271,813
$ $ 15,693,232
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable ......................................................................................................................................
$ 115,575 $ 207,348
Accrued compensation and benefits ........................................................................................................ 198,788 212,594
Accrued expenses and other current liabilities........................................................................................ 114,377 212,123
Accrued revenue share.............................................................................................................................. 215,771 307,010
Deferred revenue....................................................................................................................................... 73,099 88,359
Income taxes payable................................................................................................................................ 27,774 188,613
Total current liabilities.............................................................................................................................. 745,384 1,216,047
Deferred revenue, long-term .............................................................................................................................. 10,468 16,794
Deferred income taxes, net................................................................................................................................. 35,419 —
Other long-term liabilities .................................................................................................................................. 61,585 63,304
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value: 9,000,000 shares authorized and 293,027 (201,266 Class A
and 91,761 Class B) and 304,260 (220,441 Class A and 83,819 Class B) shares issued and
outstanding, excluding 3,303 and 912 shares subject to repurchase at December 31, 2005
293 304
and September 30, 2006 ......................................................................................................................
Additional paid-in capital ......................................................................................................................... 7,477,792 10,289,724
Deferred stock-based compensation ........................................................................................................ (119,015) —
Accumulated other comprehensive income ............................................................................................ 4,019 4,462
Retained earnings...................................................................................................................................... 2,055,868 4,102,597
Total stockholders’ equity .................................................................................................................................. 9,418,957 14,397,087
Total liabilities and stockholders’ equity .......................................................................................................... 10,271,813
$ $ 15,693,232
See accompanying notes.
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4. GOOGLE INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts)
Three Months Ended Nine Months Ended
September 30, September 30,
2005 2006 2005 2006
(unaudited)
Revenues.....................................................................................................................
$ 1,578,456 $ 2,689,673 $ 4,219,468 $ 7,399,419
Costs and expenses:
Cost of revenues (including stock-based compensation expense
655,154 1,048,728 1,800,053 2,941,879
of $1,328, $2,149, $3,925 and $6,754) (1)................................................
Research and development (including stock-based compensation
177,793 312,632 409,639 841,783
expense of $26,072, $61,714, $82,733 and $205,364) (1) .......................
Sales and marketing (including stock-based compensation
111,487 206,972 305,521 594,312
expense of $6,491, $14,673, $20,549 and $44,887) (1) ...........................
General and administrative (including stock-based
compensation expense of $12,417, $21,324, $35,348 and
104,851 190,010 256,616 532,043
$66,668) (1).................................................................................................
Total costs and expenses ...........................................................................................
1,049,285 1,758,342 2,771,829 4,910,017
Income from operations.............................................................................................
529,171 931,331 1,447,639 2,489,402
Interest income and other, net ...................................................................................20,797 108,180 54,205 336,904
Income before income taxes...................................................................................... 549,968 1,039,511 1,501,844 2,826,306
Provision for income taxes ........................................................................................
168,786 306,150 408,655 779,577
Net income .................................................................................................................
$ 381,182 $ 733,361 $ 1,093,189 $ 2,046,729
Net income per share:
Basic ................................................................................................................. 1.39 $
$ 2.42 $ 4.04 $ 6.83
Diluted .............................................................................................................. 1.32 $
$ 2.36 $ 3.80 $ 6.64
Number of shares used in per share calculations:
Basic .................................................................................................................
275,130 303,400 270,655 299,569
Diluted ..............................................................................................................
289,673 310,574 287,841 308,245
(1) Stock-based compensation recognized in the three and nine months ended September 30, 2005, accounted for under Accounting
Principles Board Opinion No. 25, Accounting for Stock Issued to Employees, has been reclassified to these expense lines to
conform with the presentation in the three and nine months ended September 30, 2006. As discussed in Note 1 of the
accompanying notes, stock-based compensation for the three and nine months ended September 30, 2006, is presented in
conformity with Financial Accounting Standards Board Statement of Financial Accounting Standards No. 123 (as revised),
Share-Based Payment.
See accompanying notes.
4
5. GOOGLE INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Nine Months Ended
September 30,
2005 2006
(unaudited)
Operating activities
Net income .......................................................................................................................................................... 1,093,189 $
$ 2,046,729
Adjustments:
Depreciation of property and equipment................................................................................................. 171,107 335,629
Amortization of intangibles and warrants ............................................................................................... 27,980 47,060
In-process research and development...................................................................................................... 20,812 10,800
Stock-based compensation ....................................................................................................................... 142,555 323,673
Excess tax benefits from stock-based award activity ............................................................................. 271,700 (329,068)
Changes in assets and liabilities, net of effects of acquisitions: ............................................................
Accounts receivable........................................................................................................................ (225,083) (343,356)
Income taxes, net ............................................................................................................................ 127,835 528,493
Prepaid revenue share, expenses and other assets ........................................................................ (24,645) (267,759)
Accounts payable ............................................................................................................................ 54,694 91,198
Accrued expenses and other liabilities .......................................................................................... 66,555 124,640
Accrued revenue share.................................................................................................................... 52,577 90,856
Deferred revenue............................................................................................................................. 21,712 10,819
Net cash provided by operating activities ......................................................................................................... 1,800,988 2,669,714
Investing activities
Purchases of property and equipment................................................................................................................ (592,386) (1,536,160)
Purchases of marketable securities .................................................................................................................... (4,992,995) (23,151,347)
Maturities and sales of marketable securities.................................................................................................... 4,627,212 19,888,930
Investments in non-marketable equity securities .............................................................................................. (10,000) (1,014,222)
Acquisitions, net of cash acquired, and purchases of intangible and other assets .......................................... (41,748) (257,812)
Net cash used in investing activities .................................................................................................................. (1,009,917) (6,070,611)
Financing activities
Net proceeds from stock-based award activity ................................................................................................. 33,546 155,551
Net proceeds from stock offerings..................................................................................................................... 4,287,621 2,063,751
Excess tax benefits from stock-based award activity ....................................................................................... — 329,068
Payments of principal on capital leases and equipment loans ......................................................................... (1,413) —
Net cash provided by financing activities ......................................................................................................... 4,319,754 2,548,370
Effect of exchange rate changes on cash and cash equivalents ....................................................................... (19,129) 13,694
Net increase (decrease) in cash and cash equivalents....................................................................................... 5,091,696 (838,833)
Cash and cash equivalents at beginning of year ............................................................................................... 426,873 3,877,174
Cash and cash equivalents at end of period....................................................................................................... 5,518,569
$ $ 3,038,341
Supplemental disclosures of cash flow information
Cash paid for interest ..........................................................................................................................................
$ 94 $ 206
Cash paid for income taxes ................................................................................................................................
$ 5,588 $ 350,703
Acquisition related activities:
Issuance of equity in connection with acquisitions, net of deferred stock-based compensation .........
$ 15,237 $ —
See accompanying notes.
5
6. GOOGLE INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
Note 1. Google Inc. and Summary of Accounting Policies
Nature of Operations
We were incorporated in California in September 1998. We were re-incorporated in the State of Delaware in August 2003. We
provide highly targeted advertising and global Internet search solutions as well as intranet solutions via an enterprise search appliance.
Basis of Consolidation
The Condensed Consolidated Financial Statements include the accounts of Google and our wholly-owned subsidiaries. All
intercompany balances and transactions have been eliminated.
Unaudited Interim Financial Information
The accompanying Condensed Consolidated Balance Sheet as of September 30, 2006, the Condensed Consolidated Statements
of Income for the three and nine months ended September 30, 2005 and 2006, and the Condensed Consolidated Statements of Cash
Flows for the nine months ended September 30, 2005 and 2006, are unaudited. These unaudited interim Condensed Consolidated
Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles. In our opinion, the
unaudited interim Condensed Consolidated Financial Statements include all adjustments of a normal recurring nature necessary for the
fair presentation of our financial position as of September 30, 2006, our results of operations for the three and nine months ended
September 30, 2005 and 2006, and our cash flows for the nine months ended September 30, 2005 and 2006. The results of operations
for the three and nine months ended September 30, 2006 are not necessarily indicative of the results to be expected for the year ending
December 31, 2006.
These unaudited interim Condensed Consolidated Financial Statements should be read in conjunction with the consolidated
financial statements and related notes included in our 2005 Annual Report on Form 10-K filed on March 16, 2006.
Use of Estimates
The preparation of interim Condensed Consolidated Financial Statements in conformity with accounting principles generally
accepted in the United States requires us to make estimates and assumptions that affect the amounts reported and disclosed in the
financial statements and the accompanying notes. Actual results could differ materially from these estimates. On an ongoing basis, we
evaluate our estimates, including those related to the accounts receivable and sales allowances, fair values of marketable and non-
marketable securities, fair values of acquired intangible assets and goodwill, useful lives of intangible assets and property and
equipment, fair values of options to purchase our common stock, and income taxes, among others. We base our estimates on historical
experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making
judgments about the carrying values of assets and liabilities.
Revenue Recognition
The following table presents our revenues (in thousands):
Three Months Ended Nine Months Ended
September 30, September 30,
2005 2006 2005 2006
(Unaudited)
Advertising revenues:
Google web sites ..............................................................................................
$ 884,679 $ 1,625,977 $ 2,278,848 $ 4,355,754
Google Network web sites .............................................................................. 675,012 1,037,022 1,889,369 2,961,965
Total advertising revenues.....................................................................1,559,691 2,662,999 4,168,217 7,317,719
Licensing and other revenues....................................................................................18,765 26,674 51,251 81,700
Revenues.....................................................................................................................
$ 1,578,456 $ 2,689,673 $ 4,219,468 $ 7,399,419
In the first quarter of 2000, we introduced our first advertising program through which we offered advertisers the ability to place
text-based ads on Google web sites targeted to users’ search queries. Advertisers paid us based on the number of times their ads were
displayed on users’ search results pages and we recognized revenue at the time these ads appeared. In
6
7. GOOGLE INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(Unaudited)
the fourth quarter of 2000, we launched Google AdWords, an online self-service program that enables advertisers to place text-based
ads on Google web sites. AdWords is also available through our direct sales force. AdWords advertisers originally paid us based on
the number of times their ads appeared on users’ search results pages. In the first quarter of 2002, we began offering AdWords
exclusively on a cost-per-click basis, so that an advertiser pays us only when a user clicks on one of its ads. We recognize as revenue
the fees charged advertisers each time a user clicks on one of the text-based ads that are displayed next to the search results on Google
web sites. From January 1, 2004, until the end of the first quarter of 2005, the AdWords cost-per-click pricing structure was the only
structure available to our advertisers. However, during the second quarter of 2005, we launched an AdWords program that enables
advertisers to pay us based on the number of times their ads appear on Google Network member sites specified by the advertiser. We
recognize as revenue the fees charged advertisers each time their ads are displayed on the Google Network member sites because the
services have been provided, and the other criteria set forth under Staff Accounting Bulletin Topic 13: Revenue Recognition have been
met, namely, the fees we charge are fixed or determinable, we and our advertisers understand the specific nature and terms of the
agreed-upon transactions and collectibility is reasonably assured.
In the third quarter of 2005, we launched the Google Publication Ads Program through which we distribute our advertisers’ ads
for publication in magazines. We recognize as revenue the fees charged advertisers when ads are published in magazines. Also in the
first quarter of 2006, we acquired dMarc Broadcasting, Inc. (dMarc), a digital solutions provider for the radio broadcast industry.
dMarc, now one of our wholly-owned subsidiaries, distributes our advertisers’ ads for broadcast by radio stations. We recognize as
revenue the fees charged advertisers each time an ad is broadcasted or a listener responds to that ad. We consider the magazines and
radio stations that participate in these programs to be members of our Google Network.
Google AdSense is the program through which we distribute our advertisers’ ads for display on the web sites of our Google
Network members. In accordance with Emerging Issues Task Force (“EITF”) Issue No. 99-19, Reporting Revenue Gross as a
Principal Versus Net as an Agent (“EITF 99-19”), we recognize as revenues the fees charged advertisers each time a user clicks on
one of the text-based ads that are displayed next to the search results or on the content pages of our Google Network members’ web
sites and, for those advertisers who use our cost-per impression pricing, the fees charged advertisers each time an ad is displayed on
our members’ sites. Finally, we recognize as revenues the fees charged advertisers for ads published in the magazines or broadcasted
by the radio stations of our Google Network members. These revenues are reported on a gross basis principally because we are the
primary obligor to our advertisers.
We generate fees from search services on a per-query basis. Our policy is to recognize revenues from per-query search fees in
the period we provide the search results.
In the first quarter of 2006, we launched Google Video through which we make video owned by others available for download
and purchase by end users. We recognize as revenue the fees we receive from end users to the extent we are the primary obligor to
them; however, to the extent we are not, we recognize as revenues the fees we receive from end users net of the amounts we pay to our
video content providers in accordance with EITF 99-19.
In the second quarter of 2006, we launched Google Checkout, an online shopping payment processing system for both
consumers and merchants. We recognize as revenues the fees charged merchants on transactions processed through Google Checkout.
Further, cash ultimately paid to merchants under Google Checkout promotions, including discounts provided to consumers on
transactions processed through Google Checkout, are accounted for as an offset to revenues in accordance with EITF Issue No. 01-9,
Accounting for Consideration Given by a Vendor to a Customer (Including a Reseller of the Vendor’s Products).
We also generate fees from the sale and license of our Search Appliance, which includes hardware, software and 12 to 24
months of post-contract support. We recognize revenue in accordance with Statement of Position 97-2, Software Revenue Recognition,
as amended. As the elements are not sold separately, sufficient vendor-specific objective evidence does not exist for the allocation of
revenue. As a result, the entire fee is recognized ratably over the term of the post-contract support arrangement. Deferred revenue is
recorded when payments are received in advance of our performance in the underlying agreement on the accompanying condensed
consolidated balance sheets.
Cost of Revenues
Cost of revenues consists primarily of traffic acquisition costs. Traffic acquisition costs consist of amounts ultimately paid to
our Google Network members under AdSense arrangements and to certain other partners (our “distribution partners”)
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8. GOOGLE INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(Unaudited)
who distribute our toolbar and other products (collectively referred to as “access points”) or otherwise direct search queries to our web
site. These amounts are primarily based on the revenue share arrangements with our Google Network members and distribution
partners. Certain distribution arrangements require us to pay our partners based on a fee per access point delivered and not exclusively
- or at all - based on revenue share. We recognize fees under these arrangements over the estimated useful lives of the access points
(two years) to the extent we can reasonably estimate those lives or based on any contractual revenue share, if greater. Otherwise, the
fees are charged to expense as incurred.
In addition, certain AdSense agreements obligate us to make guaranteed minimum revenue share payments to Google Network
members based on their achieving defined performance terms, such as number of search queries or advertisements displayed. We
amortize guaranteed minimum revenue share prepayments (or accrete an amount payable to a Google Network member if the payment
is due in arrears) based on the number of search queries or advertisements displayed on the Google Network member’s web site or the
actual revenue share amounts, whichever is greater. In addition, concurrent with the commencement of a small number of AdSense
and other agreements, we have purchased certain items from, or provided other consideration to, our Google Network members and
partners. We have determined that certain of these amounts are prepaid traffic acquisition costs and are amortized on a straight-line
basis over the terms of the related agreements. Traffic acquisition costs were $529.9 million and $825.3 million in the three months
ended September 30, 2005 and 2006, and $1,486.0 million and $2,333.2 million in the nine months ended September 30, 2005 and
2006.
Prepaid revenue share and distribution fees are included in prepaid revenue share, expenses and other assets on the
accompanying Condensed Consolidated Balance Sheets.
In addition, cost of revenues includes the expenses associated with the operation of our data centers, including depreciation,
labor, energy and bandwidth costs, as well as credit card and other transaction fees related to processing customer transactions
including Google Checkout transactions.
Stock-based Compensation
In December 2004, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 123
(revised 2004), Share-Based Payment (“SFAS 123R”) that addresses the accounting for share-based payment transactions in which an
enterprise receives employee services in exchange for equity instruments of the enterprise or liabilities that are based on the fair value
of the enterprise’s equity instruments or that may be settled by the issuance of such equity instruments. SFAS 123R eliminates the
ability to account for share-based compensation transactions using the intrinsic value method under Accounting Principles Board
Opinion No. 25, Accounting for Stock Issued to Employees (“APB 25”), and generally requires instead that such transactions be
accounted for using a fair-value-based method. We adopted SFAS 123R beginning January 1, 2006.
SFAS 123R requires the use of a valuation model to calculate the fair value of stock-based awards. We have elected to use the
Black-Scholes-Merton (“BSM”) option-pricing model to determine the fair value of stock-based awards on the dates of grant,
consistent with that used for pro forma disclosures under SFAS No. 123, Accounting for Stock-Based Compensation. Restricted Stock
Units (“RSUs”) are measured based on the fair market values of the underlying stock on the dates of grant. Shares are issued on the
dates of vest net of the statutory withholding requirements to be paid by us on behalf of our employees. As a result, the actual number
of shares issued will be less than the actual number of RSUs outstanding. Furthermore, in accordance with SFAS 123R, the liability
for withholding amounts to be paid by us will be recorded as a reduction to additional paid-in capital when paid.
We have elected the modified prospective transition method as permitted by SFAS 123R, and accordingly, prior periods have
not been restated to reflect the impact of SFAS 123R. Under this method, we are required to recognize stock-based compensation for
all new and unvested stock-based awards that are ultimately expected to vest as the requisite service is rendered beginning January 1,
2006. Stock-based compensation is measured based on the fair values of all stock-based awards on the dates of grant.
We recognize stock-based compensation using the straight-line method for all stock awards issued after January 1, 2006. For
stock awards issued prior to January 1, 2006, we continue to recognize stock-based compensation using the accelerated method, other
than RSUs issued to new employees that vest based on the employee’s performance for which we use the straight-line method in
accordance with FASB Interpretation No. 28, Accounting for Stock Appreciation Rights and Other Variable Stock Option or Award
Plans.
SFAS 123R requires that the deferred stock-based compensation on our balance sheet on the date of adoption be netted against
additional paid-in capital. At December 31, 2005, we had $119.0 million of deferred stock-based compensation which was netted
against additional paid-in capital on January 1, 2006, as reflected in the accompanying Condensed Consolidated Balance Sheet at
September 30, 2006.
8
9. GOOGLE INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(Unaudited)
Also, in accordance with SFAS 123R, beginning in the first quarter of 2006 we have presented the benefits of tax deductions in
excess of recognized compensation expense (“excess tax benefits from stock-based award activity”) as a cash flow from financing
activities in the accompanying Condensed Consolidated Statement of Cash Flows, rather than as a cash flow from operating activities,
as was prescribed under accounting rules applicable through December 31, 2005. This requirement reduces and increases the amounts
we record as net cash provided by operating activities and net cash provided by financing activities, respectively. Total cash flow
remains unchanged from what would have been reported under prior accounting rules. During the nine months ended September 30,
2006, the amount of cash received from exercise of stock options was $178.3 million and the total tax benefit realized, including the
excess tax benefit, from stock based award activity was $393.5 million.
In March 2005, the Securities and Exchange Commission issued Staff Accounting Bulletin No. 107 (“SAB No. 107”). In
accordance with this Bulletin, beginning in the first quarter of 2006, we no longer presented stock-based compensation separately on
our Condensed Consolidated Statements of Income. Instead we present stock-based compensation in the same lines as cash
compensation paid to the same individuals. Stock-based compensation in the three and nine months ended September 30, 2005 has
been reclassified to conform to the presentation in the three and nine months ended September 30, 2006.
We account for stock awards issued to non-employees in accordance with the provisions of SFAS 123R and EITF Issue No. 96-
18, Accounting for Equity Instruments That Are Issued to Other Than Employees for Acquiring, or in Conjunction with Selling, Goods
or Services (“EITF 96-18”). Under SFAS 123R and EITF 96-18, we use the BSM method to measure the value of options granted to
non-employees at each vesting date to determine the appropriate charge to stock-based compensation.
Prior to the adoption of SFAS 123R, we accounted for our employee stock-based compensation using the intrinsic value method
prescribed by APB 25. We applied below the disclosure provisions of SFAS 123, as amended by SFAS No. 148, Accounting for
Stock-Based Compensation – Transition and Disclosure, as if the fair value method had been applied. If this method had been used,
our net income and net income per share for the three and nine months ended September 30, 2005 would have been adjusted to the pro
forma amounts below (in thousands, except per share data):
Three Months Ended Nine Months Ended
September 30, 2005 September 30, 2005
(unaudited)
Net income, as reported .....................................................................................................................
$ 381,182 $ 1,093,189
Add: Stock-based employee compensation expense included in reported net income, net
24,585 84,416
of related tax effects......................................................................................................................
Deduct: Total stock-based employee compensation expense under the fair value based
(58,165) (158,746)
method for all awards, net of related tax effects .........................................................................
Net income, pro forma.......................................................................................................................
$ 347,602 $ 1,018,859
Net income per share:
As reported for prior period—basic........................................................................................ $ 1.39 $ 4.04
Pro forma—basic .....................................................................................................................
$ 1.26 $ 3.76
As reported for prior period—diluted..................................................................................... $ 1.32 $ 3.80
Pro forma—diluted ..................................................................................................................
$ 1.20 $ 3.54
In the three and nine months ended September 30, 2006, we recognized stock-based compensation and related tax benefits of
$99.9 million ($20.9 million tax benefits) and $323.7 million ($74.2 million tax benefits), respectively.
As a result of adopting SFAS 123R, our income before income taxes and net income for the three months ended September 30,
2006, were $52.1 million and $41.2 million less than if we had continued to account for stock-based
9
10. GOOGLE INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(Unaudited)
compensation under APB 25; and our income before income taxes and net income for the nine months ended September 30, 2006,
were $161.7 million and $127.8 million less than if we had continued to account for stock-based compensation under APB 25.
Furthermore, basic and diluted earnings per share for the three months ended September 30, 2006 were $0.14 and $0.13 less than if we
had continued to account for share-based compensation under APB 25; and basic and diluted earnings per share for the nine months
ended September 30, 2006 were $0.43 and $0.41 less than if we had continued to account for share-based compensation under APB
25.
Net Income per Share
We compute net income per share in accordance with SFAS No. 128, Earnings per Share (“SFAS 128”). Under the provisions
of SFAS 128, basic net income per share is computed using the weighted average number of common shares outstanding during the
period except that it does not include unvested common shares subject to repurchase or cancellation. Diluted net income per share is
computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the
period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options, restricted
shares, restricted stock units and unvested common shares subject to repurchase or cancellation. The dilutive effect of outstanding
stock options, restricted shares and restricted stock units is reflected in diluted earnings per share by application of the treasury stock
method.
10
11. GOOGLE INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(Unaudited)
The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share
amounts):
Three Months Ended Nine Months Ended
September 30, September 30,
2005 2006 2005 2006
(unaudited)
Basic and diluted net income per share:
Numerator:..............................................................................................................
Net income ...................................................................................................
$ 381,182 $ 733,361 $ 1,093,189 $ 2,046,729
Denominator:..........................................................................................................
Weighted average common shares outstanding ......................................... 280,765 304,636 278,278 301,680
Less: Weighted average unvested common shares subject to
(5,635) (1,236) (7,623) (2,111)
repurchase or cancellation ......................................................................
Denominator for basic calculation .................................................... 275,130 303,400 270,655 299,569
Weighted average effect of dilutive securities:..........................................
Add: ..............................................................................................................
Unvested common shares subject to repurchase or
5,635 1,236 7,623 2,111
cancellation....................................................................................
Employee stock options..................................................................... 8,352 5,623 9,359 6,227
Restricted shares and restricted stock units......................................556 315 204 338
Denominator for diluted calculation .................................................
289,673 310,574 287,841 308,245
Net income per share, basic.............................................................................................
$ 1.39 $ 2.42 $ 4.04 $ 6.83
Net income per share, diluted..........................................................................................
$ 1.32 $ 2.36 $ 3.80 $ 6.64
Property and Equipment
Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed using the
straight-line method over the estimated useful lives of the assets, generally two to five years. Buildings are depreciated over periods up
to 25 years. Leasehold improvements are amortized over the shorter of the lease term or the estimated useful lives of the assets.
Construction in process is primarily related to the construction or development of property and equipment. Depreciation for equipment
commences once it is placed in service and depreciation for buildings and leasehold improvements commences once they are ready for
their intended use.
Software Development Costs
We account for software development costs, including costs to develop software products or the software component of
products to be marketed to external users, as well as software programs to be used solely to meet our internal needs in accordance with
SFAS No. 86, Accounting for Costs of Computer Software to be Sold, Leased, or Otherwise Marketed and SOP 98-1, Accounting for
Costs of Computer Software Developed or Obtained for Internal Use. We have determined that technological feasibility for our
products to be marketed to external users was reached shortly before the release of those products. As a result, the development costs
incurred after the establishment of technological feasibility and before the release of those products were not material, and
accordingly, were expensed as incurred. In addition, costs incurred during the application development stage for software programs to
be used solely to meet our internal needs were not material.
Cash, Cash Equivalents and Marketable Securities
We invest our excess cash in money market funds and in highly liquid debt instruments of U.S. municipalities, corporations and
the U.S. government and its agencies. All highly liquid investments with stated maturities of three months or less from date of
purchase are classified as cash equivalents; all highly liquid investments with stated maturities of greater than three months are
classified as marketable securities.
11
12. GOOGLE INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(Unaudited)
We determine the appropriate classification of our investments in marketable debt and equity securities at the time of purchase
and reevaluate such designation at each balance sheet date. Our marketable debt and equity securities have been classified and
accounted for as available for sale. We may or may not hold securities with stated maturities greater than 12 months until maturity. In
response to changes in the availability of and the yield on alternative investments as well as liquidity requirements, we occasionally
sell these securities prior to their stated maturities. As these debt and equity securities are viewed by us as available to support current
operations, based on the provisions of Accounting Research Bulletin No. 43, Chapter 3A, Working Capital-Current Assets and
Liabilities, equity securities, as well as debt securities with maturities beyond 12 months (such as our auction rate securities) are
classified as current assets under the caption marketable securities in the accompanying Condensed Consolidated Balance Sheets.
These securities are carried at fair value, with the unrealized gains and losses, net of taxes, reported as a component of stockholders’
equity, except for unrealized losses determined to be other than temporary which are recorded as interest income and other, net, in
accordance with our policy and FASB Staff Position (“FSP”) Nos. FAS 115-1 and FAS 124-1, The Meaning of Other-Than-
Temporary Impairment and its Application to Certain Investments. Any realized gains or losses on the sale of marketable securities
are determined on a specific identification method, and such gains and losses are reflected as a component of interest income and
other, net.
Non-Marketable Equity Securities
We have accounted for non-marketable equity security investments at historical cost because we do not have significant
influence over the investees. These investments are subject to a periodic impairment review. To the extent any impairment is
considered other-than-temporary, the investment is written down to its fair value and the loss is recorded as interest income and other,
net. We found no such impairment to our non-marketable equity securities during any of the periods presented.
Derivative Financial Instruments
We enter into forward foreign exchange contracts with financial institutions to reduce the risk that our cash flows and earnings
will be adversely affected by foreign currency exchange rate fluctuations. This program is not designed for trading or speculative
purposes.
In accordance with SFAS No. 133, Accounting for Derivative Instruments and Hedging Activities, we recognize derivative
instruments as either assets or liabilities on the balance sheet at fair value. These forward exchange contracts are not accounted for as
hedges and, therefore, changes in the fair value of these instruments are recorded as interest income and other, net. Neither the cost nor
the fair value of these forward foreign exchange contracts was material at September 30, 2006. The notional principal of forward
foreign exchange contracts to purchase U.S. dollars with foreign currencies was $477.0 million and $636.2 million at December 31,
2005 and September 30, 2006, respectively. The notional principal of forward foreign exchange contracts to purchase euros with
British pounds and Japanese yen was €145.4 million (or approximately $184.6 million) at September 30, 2006. There were no other
forward foreign exchange contracts outstanding at December 31, 2005 or September 30, 2006.
Legal Costs
Legal costs are expensed as incurred.
12
13. GOOGLE INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(Unaudited)
Effect of Recent Accounting Pronouncements
In July 2006, the FASB issued Financial Interpretation No. 48, Accounting for Uncertainty in Income Taxes, (“FIN 48”) as an
interpretation of FASB Statement No. 109, Accounting for Income Taxes (“SFAS 109”). This Interpretation clarifies the accounting
for uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with SFAS 109 and prescribes a
recognition threshold of more-likely-than-not to be sustained upon examination. Measurement of the tax uncertainty occurs if the
recognition threshold has been met. This Interpretation also provides guidance on derecognition, classification, interest and penalties,
accounting in interim periods, disclosure, and transition. FIN 48 will be effective for us beginning January 1, 2007. Differences
between the amounts recognized in the statements of financial position prior to the adoption of FIN 48 and the amounts reported after
adoption should be accounted for as a cumulative-effect adjustment recorded to the beginning balance of retained earnings. We are
currently assessing whether adoption of this Interpretation will have an impact on our financial position or results of operations.
In September 2006, the FASB issued SFAS No. 157, Fair Value Measurements, which defines fair value, establishes a
framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value
measurements. SFAS No. 157 does not require any new fair value measurements, but provides guidance on how to measure fair value
by providing a fair value hierarchy used to classify the source of the information. This statement is effective for us beginning
January 1, 2008. We are currently assessing whether adoption of SFAS No. 157 will have an impact on our financial statements.
Note 2. Cash, Cash Equivalents and Marketable Securities
Cash, cash equivalents and marketable securities consists of the following (in thousands):
As of As of
December 31, September 30,
2005 2006
(unaudited)
Cash and cash equivalents:
Cash ............................................................................................................................................................. 1,588,515 $
$ 2,393,133
Cash equivalents: ........................................................................................................................................
U.S. government notes and agencies ............................................................................................... 2,281,858 445,468
Time deposits .................................................................................................................................... — 150,000
Municipal securities.......................................................................................................................... — 35,700
Money market funds ......................................................................................................................... 6,801 14,040
Total cash and cash equivalents ............................................................................................. 3,877,174 3,038,341
Marketable securities:
U.S. government notes and agencies ......................................................................................................... 2,906,698 5,367,534
Municipal securities.................................................................................................................................... 1,203,209 1,172,840
Time deposits .............................................................................................................................................. — 850,000
Equity security ............................................................................................................................................ 47,166 —
Total marketable securities............................................................................................................... 4,157,073 7,390,374
Total cash, cash equivalents and marketable securities.................................................................. 8,034,247 $
$ 10,428,715
The following table summarizes unrealized gains and losses related to our investments in marketable securities designated as
available-for-sale (in thousands):
As of December 31, 2005
Gross Gross
Adjusted Unrealized Unrealized
Cost Gains Losses Fair Value
U.S. government notes and agencies .............................................................................. $ 2,911,410 $ 418 $ (5,130) $ 2,906,698
Municipal securities.........................................................................................................
1,219,078 28 (15,897) 1,203,209
Equity security ................................................................................................................. 5,000 42,166 — 47,166
Total marketable securities....................................................................................
$ 4,135,488 $ 42,612 $ (21,027) $ 4,157,073
13
14. GOOGLE INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(Unaudited)
As of September 30, 2006
Gross Gross
Adjusted Unrealized Unrealized
Gains Losses
Cost Fair Value
(unaudited)
U.S. government notes and agencies .............................................................................. $ 5,371,729 $ 8,816 $ (13,011) $ 5,367,534
Municipal securities.........................................................................................................
1,176,240 889 (4,289) 1,172,840
Time deposits ...................................................................................................................
850,000 — — 850,000
Total marketable securities..............................................................................................
$ 7,397,969 $ 9,705 $ (17,300) $ 7,390,374
Gross unrealized gains and losses on cash equivalents were not material at December 31, 2005 and September 30, 2006. We
found no other-than-temporary impairments to our marketable securities in the three and nine months ended September 30, 2005 and
September 30, 2006. We recognized a net realized loss of $4.8 million and a net realized gain of $41.9 million on the sale of
marketable securities during the three and nine months ended September 30, 2006. We recognized a net realized loss of $3.9 million
and $4.6 million on the sale of marketable securities during the three and nine months ended September 30, 2005.
The following table summarizes the estimated fair value of our investments in marketable securities designated as available-for-
sale classified by the contractual maturity date of the security (in thousands):
As of As of
December 31, September 30,
2005 2006
(Unaudited)
Due within 1 year..................................................................................................................................................
$ 970,073 $ 3,644,161
Due after 1 year through 5 years.......................................................................................................................... 2,967,148 3,148,676
Due after 5 years through 10 years ...................................................................................................................... 59,122 26,200
Due after 10 years ................................................................................................................................................. 160,730 571,337
Total marketable securities......................................................................................................................... 4,157,073 $
$ 7,390,374
In accordance with EITF 03-1, The Meaning of Other-Than-Temporary Impairment and Its Application to Certain Investments,
the following table shows gross unrealized losses and fair value for those investments that were in an unrealized loss position as of
December 31, 2005 and September 30, 2006, aggregated by investment category and the length of time that individual securities have
been in a continuous loss position (in thousands):
As of December 31, 2005
Less than 12 Months 12 Months or Greater Total
Unrealized Unrealized Unrealized
Fair Value Loss Fair Value Loss Fair Value Loss
U.S. government notes and agencies ......................................
$ 2,099,408 $ (5,130) $ —$ — $ 2,099,408 $ (5,130)
Municipal securities .................................................................
607,990 (7,705) 513,425 (8,192) 1,121,415 (15,897)
Total ...............................................................................
$ 2,707,398 $ (12,835) $ 513,425 $ (8,192) $ 3,220,823 $ (21,027)
As of September 30, 2006
Less than 12 Months 12 Months or Greater Total
Unrealized Unrealized Unrealized
Fair Value Loss Fair Value Loss Fair Value Loss
(unaudited)
U.S. government notes and agencies ......................................
$ 2,903,759 $ (8,774) $ 690,571 $ (4,237) $ 3,594,330 $ (13,011)
Municipal securities .................................................................
74,391 (244) 278,920 (4,045) 353,311 (4,289)
Total ...............................................................................
$ 2,978,150 $ (9,018) $ 969,491 $ (8,282) $ 3,947,641 $ (17,300)
14
15. GOOGLE INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(Unaudited)
Note 3. Investment in America Online, Inc. (AOL)
In April 2006, we completed our $1.0 billion cash purchase of a five percent equity interest in a wholly-owned subsidiary of
Time Warner, Inc. that owns all of the outstanding interests of AOL. Our investment in this non-marketable equity security is
accounted for at historical cost (see Note 1). In March 2006, we entered into certain commercial arrangements with AOL. We believe
that the terms of the investment and commercial agreements are at fair value, and as a result, they are accounted for in accordance
with their contractual terms. Further we are obligated over a five year term to make up to $100 million of co-marketing payments (but
not to exceed $20 million per year plus any amounts not spent in prior years) and issue up to $300 million of AdWords credits (but not
to exceed $60 million per year plus any credits not redeemed in prior years). Co-marketing costs are expensed as incurred and
AdWords credits are accounted for as a reduction to revenues in the periods they are redeemed.
Note 4. Property and Equipment
Property and equipment consist of the following (in thousands):
As of As of
December 31, September 30,
2005 2006
(unaudited)
Information technology assets.......................................................................................................................................................................... $ 949,758 $ 1,547,205
Construction in process..................................................................................................................................................................................... 211,088 808,579
Land and buildings............................................................................................................................................................................................ 124,752 372,721
Leasehold improvements .................................................................................................................................................................................. 115,108 197,559
Furniture and fixtures........................................................................................................................................................................................ 16,719 31,516
Total....................................................................................................................................................................................................... 1,417,425 2,957,580
Less accumulated depreciation and amortization............................................................................................................................................ 455,676 783,266
Property and equipment, net.............................................................................................................................................................................
$ 961,749 $ 2,174,314
Note 5. Acquisitions
In February 2006, we acquired all of the voting interests of dMarc Broadcasting, Inc. (dMarc), a digital solutions provider for
the radio broadcast industry. This transaction was accounted for as a business combination. The purchase price was $97.6 million, and
was paid in cash as of September 30, 2006. In addition, we are contingently obligated to make additional cash payments of up to
$1.136 billion if certain product integration, net revenue and advertising inventory targets are met through December 2008. Since
these contingent payments are based on the achievement of performance targets, actual payments may be substantially lower. In
accordance with EITF 95-8, Accounting for Contingent Consideration Paid to the Shareholders of an Acquired Enterprise in a
Purchase Business Combination, substantially all of these contingent payments will be accounted for as goodwill, and the remaining
amounts will be expensed, when and if earned. No contingent payments were earned through September 30, 2006.
During the nine months ended September 30, 2006, we also acquired all of the voting interests of six other companies. Two of
these transactions were accounted for as business combinations. Because the remaining four transactions were with companies
considered to be development stage enterprises, they were accounted for as asset purchases in accordance with EITF Issue No. 98-3,
Determining Whether a Nonmonetary Transaction Involves Receipt of Productive Assets or of a Business. The total purchase price of
these business combinations and asset purchases was $112.5 million paid in cash. In addition, with respect to these acquisitions, we
are obligated to make additional cash payments of up to $17.9 million if certain performance targets are met through March 2010.
Since these contingent payments are based on the achievement of performance targets, actual payments may be substantially lower.
Substantially all of these contingent payments will be accounted for as goodwill, and the remaining amounts will be expensed, when
and if earned.
In addition, during the nine months ended September 30, 2006, we acquired certain other intangible assets for $51.7 million
paid, or to be paid, in cash.
The following table summarizes the allocation of the purchase price for all of the above acquisitions (in thousands):
Goodwill ........................................................................................................................................................................................................................
$ 142,245
Patents and developed technology ............................................................................................................................................................................... 88,162
Customer contracts and other ....................................................................................................................................................................................... 53,989
Net liabilities assumed .................................................................................................................................................................................................. (6,185)
Deferred tax liabilities................................................................................................................................................................................................... (27,262)
Purchased in-process research and development ........................................................................................................................................................ 10,800
Total...................................................................................................................................................................................................................
$ 261,749
15
16. GOOGLE INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(Unaudited)
Goodwill is not deductible for tax purposes. The developed technology, customer contracts and other intangible assets have a
weighted-average useful life of 3.3 years from the date of acquisition. The amortization of these intangibles is not deductible for tax
purposes.
Purchased in-process research and development of $10.8 million in the nine months ended September 30, 2006 was expensed
upon acquisition because technological feasibility had not been established and no future alternative uses existed. This amount is
included in research and development expenses on the accompanying Condensed Consolidated Statements of Income and is not
deductible for tax purposes.
See Note 11 for a discussion of our planned acquisition of YouTube.
Note 6. Goodwill and Other Intangible Assets
The changes in the carrying amount of goodwill for the nine months ended September 30, 2006, are as follows (in thousands):
Balance as of December 31, 2005.................................................................................................................................. $ 194,900
Goodwill acquired........................................................................................................................................................... 142,245
Balance as of September 30, 2006.................................................................................................................................
$ 337,145
16