Yahoo 2009 Annual Report Download - page 91

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Yahoo! Inc.
Notes to Consolidated Financial Statements—(Continued)
Investment gains (losses), net includes realized gains and losses related to sales of marketable debt securities as
well as any declines in the values of such investments judged to be other-than-temporary.
During the year ended December 31, 2008, the Company completed the sale of Kelkoo SAS and recorded a
pre-tax gain of approximately $25 million in other income, net. The transaction was accounted for as a sale of a
business.
Gains on sales of marketable equity securities include gains from sales of publicly traded companies. In May
2009, the Company sold all of its Gmarket shares for net proceeds of $120 million. The Company recorded a
pre-tax gain of $67 million ($42 million after tax) in connection with the Company’s sale of its Gmarket shares.
In September 2009, the Company sold its direct investment in Alibaba.com for net proceeds of $145 million. The
Company recorded a pre-tax gain of $98 million ($60 million after tax) in connection with the Company’s sale of
its Alibaba.com shares.
Other consists primarily of foreign exchange gains and losses due to re-measurement of assets and liabilities
denominated in non-functional currencies.
Prepaid expenses and other current assets
As of December 31, prepaid expenses and other current assets consisted of the following (in thousands):
2008 2009
Prepaid expenses ...................................................... $ 70,084 $ 74,409
Deferred income taxes (Note 10) .......................................... 143,131 201,614
Other ............................................................... 19,846 24,302
Total prepaid expenses and other current assets .......................... $233,061 $300,325
Property and equipment, net
As of December 31, property and equipment, net consisted of the following (in thousands):
2008 2009
Land ................................................................ $ 170,949 $ 170,949
Buildings ............................................................ 256,131 256,215
Leasehold improvements ................................................ 220,305 304,421
Computers and equipment(1) ............................................. 1,384,000 1,844,776
Furniture and fixtures ................................................... 67,886 62,685
Assets not yet in use .................................................... 206,216 142,899
2,305,487 2,781,945
Less: accumulated depreciation and amortization(2) ........................... (769,306) (1,355,083)
Total property and equipment, net ..................................... $1,536,181 $ 1,426,862
(1) Includes data center equipment acquired under a capital lease of approximately $43 million as of both
December 31, 2008 and 2009.
(2) Includes $2 million and $6 million of accumulated depreciation related to the capital lease as of
December 31, 2008 and 2009, respectively.
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