Yahoo 2014 Annual Report Download - page 158
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(5) Net income attributable to Yahoo! Inc. for the quarter ended March 31, 2014 includes net
restructuring charges of $9 million.
(6) Net income attributable to Yahoo! Inc. for the quarter ended June 30, 2014 includes a gain on
sale of patents of $62 million and net restructuring charges of $53 million.
(7) Net income attributable to Yahoo! Inc. for the quarter ended September 30, 2014 includes a
gain from sale of Alibaba Group shares of $6.3 billion, net of tax and net restructuring charges
of $8 million.
(8) Net income attributable to Yahoo! Inc. for the quarter ended December 31, 2014 includes a gain
on sale of patents of $35 million, a gain on Hortonworks warrants of $98 million, a goodwill
impairment charge of $88 million, and net restructuring charges of $33 million.
Item 9. Changes in and Disagreements With
Accountants on Accounting and Financial
Disclosure
None.
Item 9A. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
The Company’s management, with the participation of the Company’s principal executive officer and
principal financial officer, has evaluated the effectiveness of the Company’s disclosure controls and
procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of
the end of the period covered by this report. Based on such evaluation, the Company’s principal
executive officer and principal financial officer have concluded that, as of the end of such period, the
Company’s disclosure controls and procedures were effective.
Management’s Report on Internal Control Over Financial
Reporting
The Company’s management is responsible for establishing and maintaining adequate internal
control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act.
Under the supervision and with the participation of the Company’s management, including its
principal executive officer and principal financial officer, the Company conducted an evaluation of the
effectiveness of its internal control over financial reporting based on criteria established in the
framework in Internal Control—Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission (2013 framework). Based on this evaluation, the
Company’s management concluded that its internal control over financial reporting was effective as
of December 31, 2014.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect
all misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to
the risk that controls may become inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.
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