Yahoo 2001 Annual Report Download - page 24

YHOO44 YHOO45
Consolidated balance sheets
December 31, (in thousands, except par value) 2001 2000
Assets
Current assets:
Cash and cash equivalents $ 372,632 $ 456,877
Restricted cash —30,000
Short-term investments in marketable securities 553,795 663,353
Accounts receivable, net of allowance of $19,995 and $15,437,
respectively 68,648 90,561
Prepaid expenses and other current assets 56,458 50,078
Total current assets 1,051,533 1,290,869
Long-term investments in marketable securities 580,418 625,981
Restricted long-term investments 258,662 —
Property and equipment, net 131,648 109,781
Other assets, net 357,085 242,945
Total assets $2,379,346 $2,269,576
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable $ 13,218 $ 26,040
Accrued expenses and other current liabilities 235,897 168,029
Deferred revenue 109,402 117,165
Total current liabilities 358,517 311,234
Other liabilities 23,806 32,115
Minority interests in consolidated subsidiaries 30,006 29,313
Commitments and contingencies (Note 11)
Stockholders’ equity:
Preferred Stock, $0.001 par value; 10,000 shares authorized; none
issued or outstanding ——
Common Stock, $0.001 par value; 5,000,000 shares authorized;
575,520 and 561,651 issued and outstanding, respectively 581 562
Additional paid-in capital 2,067,410 1,830,526
Treasury stock (59,988) —
Retained earnings (accumulated deficit) (50,308) 42,480
Accumulated other comprehensive income 9,322 23,346
Total stockholders’ equity 1,967,017 1,896,914
Total liabilities and stockholders’ equity $2,379,346 $2,269,576
The accompanying notes are an integral part of these consolidated financial statements.
Consolidated statements of cash flows
Years Ended December 31, (in thousands) 2001 2000 1999
Cash Flows from Operating Activities
Net income (loss) $ (92,788) $ 70,776 $ 47,811
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Depreciation and amortization 130,575 69,102 42,661
Tax benefits from stock options 2,003 172,525 32,202
Noncash (gains) losses and impairments from investments 26,074 118,626 —
Minority interests in operations of consolidated
subsidiaries 693 5,298 2,542
Noncash restructuring costs 14,791 ——
Purchased in-process research and development —— 10,975
Other non-cash charges 11,089 20,898 10,389
Changes in assets and liabilities:
Accounts receivable, net 27,628 (34,042) (22,274)
Prepaid expenses and other assets (9,003) (26,132) (22,627)
Accounts payable (27,202) 11,699 2,576
Accrued expenses and other liabilities 31,571 74,582 51,096
Deferred revenue (8,581) 26,375 49,145
Net cash provided by operating activities 106,850 509,707 204,496
Cash Flows from Investing Activities
Acquisition of property and equipment (86,211) (94,413) (52,426)
Purchases of marketable securities (1,200,623) (1,432,455) (998,309)
Proceeds from sales and maturities of marketable securities 1,329,076 959,418 644,057
Increase in restricted cash and investments, net (228,662) (30,000) —
Acquisitions, net of cash acquired, and purchases of other
investments (32,263) (84,420) (44,817)
Proceeds from the sales of other investments 11,510 2,726 —
Net cash used in investing activities (207,173) (679,144) (451,495)
Cash Flows from Financing Activities
Proceeds from issuance of Capital Stock, net 83,875 352,279 281,055
Repurchase of common stock (59,988) ——
Other (5,597) 3,000 3,092
Net cash provided by financing activities 18,290 355,279 284,147
Effect of exchange rate changes on cash and cash equivalents (2,212) (6,101) (248)
Net change in cash and cash equivalents (84,245) 179,741 36,900
Cash and cash equivalents at beginning of year 456,877 277,136 240,236
Cash and cash equivalents at end of year $ 372,632 $ 456,877 $ 277,136
The accompanying notes are an integral part of these consolidated financial statements.