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FACEBOOK, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
See Accompanying Notes to Consolidated Financial Statements.
60
Year Ended December 31,
2014
2013
2012
Cash flows from operating activities
Net income
$
2,940
$
1,500
$
53
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
1,243
1,011
649
Lease abandonment
(31
)
117
8
Share-based compensation
1,786
906
1,572
Deferred income taxes
(210
)
(37
)
(186
)
Tax benefit from share-based award activity
1,853
602
1,033
Excess tax benefit from share-based award activity
(1,869
)
(609
)
(1,033
)
Other
7
56
15
Changes in assets and liabilities:
Accounts receivable
(610
)
(378
)
(170
)
Prepaid expenses and other current assets
(123
)
355
(465
)
Other assets
(216
)
(142
)
2
Accounts payable
31
26
1
Partners payable
(28
)
12
(2
)
Accrued expenses and other current liabilities
328
(38
)
152
Deferred revenue and deposits
10
8
(60
)
Other liabilities
346
833
43
Net cash provided by operating activities
5,457
4,222
1,612
Cash flows from investing activities
Purchases of property and equipment
(1,831
)
(1,362
)
(1,235
)
Purchases of marketable securities
(9,104
)
(7,433
)
(10,307
)
Sales of marketable securities
8,438
2,988
2,100
Maturities of marketable securities
1,909
3,563
3,333
Acquisitions of businesses, net of cash acquired, and purchases of intangible assets
(4,975
)
(368
)
(911
)
Change in restricted cash and deposits
(348
)
(11
)
(2
)
Other investing activities, net
(2
)
(1
)
(2
)
Net cash used in investing activities
(5,913
)
(2,624
)
(7,024
)
Cash flows from financing activities
Net proceeds from issuance of common stock
—
1,478
6,760
Taxes paid related to net share settlement
(73
)
(889
)
(2,862
)
Proceeds from exercise of stock options
18
26
17
Proceeds from long-term debt, net of issuance cost
—
—
1,496
Repayment of long-term debt
—
(
1,500
)
—
Proceeds from sale and lease-back transactions
—
—
205
Principal payments on capital lease obligations
(243
)
(391
)
(366
)
Excess tax benefit from share-based award activity
1,869
609
1,033
Net cash provided by (used in) financing activities
1,571
(667
)
6,283
Effect of exchange rate changes on cash and cash equivalents
(123
)
8
1
Net increase in cash and cash equivalents
992
939
872
Cash and cash equivalents at beginning of period
3,323
2,384
1,512
Cash and cash equivalents at end of period
$
4,315
$
3,323
$
2,384