Yahoo 2012 Annual Report Download - page 47

consideration was received in cash and $800 million was received in Alibaba Group Preference Shares. See
Note 8—“Investments in Equity Interests” in the Notes to the consolidated financial statements for additional
information.
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Forward-Looking Statements
In addition to current and historical information, this Annual Report on Form 10-K contains forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to
our future operations, prospects, potential products, services, developments, and business strategies. These
statements can, in some cases, be identified by the use of terms such as “may,” “will,” “should,” “could,”
“would,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,”
or “continue,” the negative of such terms, or other comparable terminology. This Annual Report on Form 10-K
includes, among others, forward-looking statements regarding our:
• expectations about revenue, including display, search, and other revenue;
• expectations about growth in users;
• expectations about operating expenses;
• anticipated capital expenditures;
• expectations about the implementation and the financial and operational impacts of our Search Agreement
with Microsoft;
• impact of recent acquisitions on our business and evaluation of, and expectations for, possible acquisitions of,
or investments in, businesses, products, intangible assets and technologies;
• projections and estimates with respect to our restructuring activities and changes to our organizational
structure;
• expectations about the closure of our Korea business;
• expectations about the amount of unrecognized tax benefits, the adequacy of our existing tax reserves and
future tax expenditures;
• expectations about positive cash flow generation and existing cash, cash equivalents, and investments being
sufficient to meet normal operating requirements; and
• expectations regarding the outcome of legal proceedings in which we are involved, including the outcome of
our efforts to overturn a judgment entered against us and one of our subsidiaries in a proceeding in Mexico.
These statements involve certain known and unknown risks and uncertainties that could cause our actual results
to differ materially from those expressed or implied in our forward-looking statements. Such risks and
uncertainties include, among others, those listed in Part 1, Item 1A “Risk Factors” of this Annual Report on
Form 10-K. We do not intend, and undertake no obligation, to update any of our forward-looking statements
after the date of this Annual Report on Form 10-K to reflect actual results or future events or circumstances.
Overview
Yahoo! Inc., together with its consolidated subsidiaries (“Yahoo!,” the “Company,” “we,” or “us”), is a global
technology company focused on making the world’s daily habits inspiring and entertaining. We provide a variety
of products and services, many of them personalized, including search, content, and communications tools—all
daily habits for hundreds of millions of users, on the Web and on mobile devices. We create value for advertisers
and their brands by connecting them with targeted audiences of users through their daily habits. Advertisers can
build their businesses through advertising to these targeted audiences on our online properties and services
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