Facebook Financial Performance Report

Topics: Balance sheet, Stock, Generally Accepted Accounting Principles Pages: 6 (1334 words) Published: March 30, 2013
Financial Performance
7.1 Financial Statement
FACEBOOK, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except for number of shares and par value)
(Unaudited)
 
| | | | | | | | |
 |   | June  30,
2012|  |  | December 31,
2011|  |
Assets|   | | | |  | | | |
Current assets:|   | | | |  | | | |
Cash and cash equivalents|   | $| 2,098|  |  | $| 1,512|   | Marketable securities|   |  | 8,090|  |  |  | 2,396|   | Accounts receivable, net of allowances for doubtful accounts of $17 as of June 30, 2012 and December 31, 2011|   |  | 578|  |  |  | 547|   | Income tax refundable|   |  | 567|   |  |  | 0|   | Prepaid expenses and other current assets|   |  | 634|  |  |  | 149|   | |   |  |  |  |  |  |  |  |

Total current assets|   |  | 11,967|  |  |  | 4,604|   | Property and equipment, net|   |  | 2,105|  |  |  | 1,475|   | Goodwill and intangible assets, net|   |  | 809|  |  |  | 162|   | Other assets|   |  | 47|   |  |  | 90|   | |   |  |  |  |  |  |  |  |

Total assets|   | $| 14,928|  |  | $| 6,331|   | |   |  |  |  |  |  |  |  |
Liabilities and stockholders’ equity|   | | | |  | | | | Current liabilities:|   | | | |  | | | |
Accounts payable|   | $| 43|  |  | $| 63|   | Platform partners payable|   |  | 153|   |  |  | 171|   | Accrued expenses and other current liabilities|   |  | 441|  |  |  | 296|   | Deferred revenue and deposits|   |  | 85|  |  |  | 90|   | Current portion of capital lease obligations|   |  | 312|  |  |  | 279|   | |   |  |  |  |  |  |  |  |

Total current liabilities|   |  | 1,034|   |  |  | 899|   | Capital lease obligations, less current portion|   |  | 394|   |  |  | 398|   | Other liabilities|   |  | 191|  |  |  | 135|   | |   |  |  |  |  |  |  |  |

Total liabilities|   |  | 1,619|  |  |  | 1,432|   | |   |  |  |  |  |  |  |  |
Stockholders’ equity:|   | | | |  | | | |
Convertible preferred stock, $0.000006 par value, issuable in series; no shares and 569 million shares authorized as of June 30, 2012 and December 31, 2011, respectively, no shares and 543 million shares issued and outstanding as of June 30, 2012 and December 31, 2011, respectively|   |  | 0|  |  |  | 615|   | Common stock, $0.000006 par value; 5,000 million and 4,141 million Class A shares authorized as of June 30, 2012 and December 31, 2011, respectively, 641 million and 117 million shares issued and outstanding as of June 30, 2012 and December 31, 2011, respectively, including 1 million outstanding shares subject to repurchase as of June 30, 2012 and December 31, 2011; 4,141 million Class B shares authorized, 1,501 million and 1,213 million shares issued and outstanding as of June 30, 2012 and December 31, 2011, respectively, including 2 million outstanding shares subject to repurchase, as of June 30, 2012 and December 31, 2011|   |  | 0|   |  |  | 0|   | Additional paid-in capital|   |  | 11,684|  |  |  | 2,684|   | Accumulated other comprehensive loss|   |  | (29| ) |  |  | (6| ) | Retained earnings|   |  | 1,654|  |  |  | 1,606|   | |   |  |  |  |  |  |  |  |

Total stockholders’ equity|   |  | 13,309|  |  |  | 4,899|   | |   |  |  |  |  |  |  |  |
Total liabilities and stockholders’ equity|   | $| 14,928|  |  | $| 6,331|   | |   |  |  |  |  |  |  |  |
Revenue|   | $| 1,184|  |  | $| 895|  |  | $| 2,242|   |  | $| 1,626|   | Costs and expenses:|   | | | |  | | | |  | | | |  | | | | Cost of revenue|   |  | 367|   |  |  | 210|  |  |  | 644|   |  |  | 377|  | Marketing and sales|   |  | 392|   |  |  | 96|  |  |  | 535|   |  |...
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