Yahoo 2011 Annual Report Download - page 89

Note 7 C ONSOLIDATED F INANCIAL S TATEMENT D ETAILS
Other income, net
Other income, net for 2009, 2010, and 2011 were as follows (in thousands):
Years Ended December 31,
2009 2010 2011
Interest and investment income ...................................... $ 22,116 $ 23,062 $18,920
Gain on sales of marketable equity securities ........................... 164,851 — —
Gain on sale of Zimbra, Inc. ......................................... — 66,130 —
Gain on sale of HotJobs ............................................ — 186,345 —
Other ........................................................... 561 22,332 8,255
Total other income, net ......................................... $187,528 $297,869 $27,175
Interest and investment income consists of income earned from cash in bank accounts and investments made in
marketable debt securities and money market funds.
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 and recorded a pre-tax gain of
$67 million. In September 2009, the Company sold its direct investment in Alibaba.com for net proceeds of $145
million and recorded a pre-tax gain of $98 million.
In February 2010, the Company sold Zimbra, Inc. for net proceeds of $100 million and recorded a pre-tax gain of
$66 million. In August 2010, the Company sold HotJobs for net proceeds of $225 million and recorded a pre-tax
gain of $186 million.
Other consists of foreign exchange gains and losses due to re-measurement of monetary assets and liabilities
denominated in non-functional currencies, gains/losses from sales of marketable debt securities and/or
investments in privately-held companies, changes in the fair value of the foreign currency forward contract, and
other non-operating items.
Prepaid expenses and other current assets
As of December 31, prepaid expenses and other current assets consisted of the following (in thousands):
2010 2011
Prepaid expenses .......................................................... $ 61,964 $ 81,880
Deferred income taxes (Note 9) .............................................. 148,648 128,581
Other receivables non-trade ................................................. 71,288 5,292
Other ................................................................... 150,660 143,730
Total prepaid expenses and other current assets .............................. $432,560 $359,483
Property and equipment, net
As of December 31, property and equipment, net consisted of the following (in thousands):
2010 2011
Land ............................................................... $ 208,481 $ 217,970
Buildings ............................................................ 494,065 611,033
Leasehold improvements ............................................... 268,808 313,925
Computers and equipment(1) ............................................ 1,884,670 2,015,481
Furniture and fixtures .................................................. 68,082 74,357
Assets not yet in use ................................................... 175,830 169,998
3,099,936 3,402,764
Less: accumulated depreciation and amortization(2) .......................... (1,446,514) (1,671,876)
Total property and equipment, net .................................... $1,653,422 $ 1,730,888
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