eBay 2015 Annual Report Download - page 80

Download and view the complete annual report

Please find page 80 of the 2015 eBay annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 136

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136

eBay Inc.
CONSOLIDATED STATEMENT OF CASH FLOWS
Year Ended December 31,
2015 2014 2013
(In millions)
Cash flows from operating activities:
Net income $ 1,725 $ 46 $ 2,856
(Income) loss from discontinued operations, net of income taxes 222 (911) (789)
Adjustments:
Provision for transaction losses 271 262 236
Depreciation and amortization 687 682 660
Stock-based compensation 379 344 298
Gain on sale of investments (195) (12) (75)
Deferred income taxes (32) 2,744 (33)
Excess tax benefits from stock-based compensation (74) (75) (112)
Changes in assets and liabilities, net of acquisition effects
Accounts receivable (105) 51 (89)
Other current assets (143) (36) (367)
Other non-current assets 143 (3) (105)
Accounts payable 226 81 (13)
Accrued expenses and other liabilities (202) (81) 274
Deferred revenue 9 4 2
Income taxes payable and other tax liabilities (34) 132 189
Net cash provided by continuing operating activities 2,877 3,228 2,932
Net cash provided by discontinued operating activities 1,156 2,449 2,063
Net cash provided by operating activities 4,033 5,677 4,995
Cash flows from investing activities:
Purchases of property and equipment (668) (622) (678)
Purchases of investments (6,744) (8,752) (6,889)
Maturities and sales of investments 6,781 8,115 3,622
Acquisitions, net of cash acquired (24) (55) (138)
Repayment of note receivable and sale of related equity investments — — 485
Other (18) (11) (22)
Net cash used in continuing investing activities (673) (1,325) (3,620)
Net cash used in discontinued investing activities (2,938) (1,348) (2,392)
Net cash used in investing activities (3,611) (2,673) (6,012)
Cash flows from financing activities:
Proceeds from issuance of common stock 221 300 437
Repurchases of common stock (2,149) (4,658) (1,343)
Excess tax benefits from stock-based compensation 74 75 112
Tax withholdings related to net share settlements of restricted stock awards and units (245) (252) (267)
Proceeds from issuance of long-term debt, net — 3,482 —
Repayment of debt (850) — (400)
Other (11) 6 30
Net cash used in continuing financing activities (2,960) (1,047) (1,431)
Net cash provided by (used in) discontinued financing activities (1,594) 25 77
Net cash used in financing activities (4,554) (1,022) (1,354)
Effect of exchange rate changes on cash and cash equivalents (364) (148) 48
Net increase (decrease) in cash and cash equivalents (4,496) 1,834 (2,323)
Cash and cash equivalents at beginning of period 6,328 4,494 6,817
Cash and cash equivalents at end of period $ 1,832 $ 6,328 $ 4,494
Less: Cash and cash equivalents of discontinued operations — Enterprise — 29 47
Less: Cash and cash equivalents of discontinued operations — PayPal — 2,194 1,599
Cash and cash equivalents of continuing operations at end of period $ 1,832 $ 4,105 $ 2,848
Supplemental cash flow disclosures:
Cash paid for interest $ 175 $ 99 $ 99
Cash paid for income taxes $ 256 $ 343 $ 466
The accompanying notes are an integral part of these consolidated financial statements.
F-6