Yahoo 2004 Annual Report Download - page 93

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revenues for the year ended December 31, 2002. Revenues from Overture for the period from January 1, 2003 through
October 7, 2003, amounted to 12 percent of total revenues for the year ended December 31, 2003.
Note 16 RELATED PARTY TRANSACTIONS
The Company and other third parties are limited partners in Softbank Capital Partners LP (‘‘Softbank Capital’’), a
venture capital fund which is an affiliate of SOFTBANK. A Managing Partner of Softbank Capital is also a member of
the Company’s Board of Directors. The total investment by the Company in Softbank Capital is approximately $36 mil-
lion and represents less than a 5% holding in Softbank Capital. A significant portion of this investment has been
impaired by the Company, with the remaining value included on the consolidated balance sheets in other assets. Pursuant
to the Partnership Agreement, the Company invested on the same terms and on the same basis as all other limited
partners.
Revenue from related parties, excluding Yahoo! Japan, represented less than one percent of our total revenue in the years
ended December 31, 2002, 2003 and 2004. Management believes that prices on agreements with related parties were
comparable to those with other similarly situated customers of the Company.
See Note 8 – ‘‘Joint Ventures’’ for additional information related to transactions involving Yahoo! Japan.
Note 17 SUBSEQUENT EVENTS
Stock Repurchase Program. In February and March 2005, the Company repurchased 4,907,230 shares of common stock in
open market transactions at an average price of approximately $33.60 per share, for a total amount of approximately
$165 million.
Structured Stock Repurchase. In February, 2005, the Company entered into a $100 million structured stock repurchase
transaction which will mature in two separate tranches in June 2005 and August 2005, respectively. On each of the
maturity dates, if the market price of Yahoo! common stock is at or above $30.69 for the June 2005 maturing tranche
and $31.49 for the August 2005 maturing tranche, the Company will have its investment returned with a premium. If
the market price of the Company’s common stock is below the pre-determined prices, the Company will repurchase
shares of its common stock, up to an aggregate of 3.4 million shares.
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