2013 Financial Tables
Full year financial tables with quarterly data.
Google's Income Statement Information
Please note: Results from Motorola Home are presented as net income (loss) from discontinued operations on the consolidated statements of income, and are excluded from all other results unless otherwise noted.
Beginning in Q3 2013, Google and Motorola segment revenues are impacted by intersegment transactions that are eliminated in consolidation. Additionally, segment revenues associated with certain products were recognized in current quarter in the segment results, but deferred to future periods in our consolidated financial statements.
(In millions, except share amounts which are reflected in thousands and per share amounts)
Full Year | 2013 | |||||||
(unaudited) | (unaudited) | |||||||
Revenues | 2011 | 2012 | 2013 | Q1 | Q2 | Q3 | Q4 | |
Google Websites | $26,145 | $31,221 | $37,453 | $8,640 | $8,868 | $9,394 | $10,551 | |
Y/Y Growth Rate | 34% | 19% | 20% | 18% | 18% | 22% | 22% | |
Q/Q Growth Rate | NA | NA | NA | 0% | 3% | 6% | 12% | |
Google Network Members' Websites | $10,386 | $12,465 | $13,125 | $3,262 | $3,193 | $3,148 | $3,522 | |
Y/Y Growth Rate | 18% | 20% | 5% | 12% | 7% | 0% | 3% | |
Q/Q Growth Rate | NA | NA | NA | -5% | -2% | -1% | 12% | |
Total Advertising Revenues | $36,531 | $43,686 | $50,578 | $11,902 | $12,061 | $12,542 | $14,073 | |
Y/Y Growth Rate | 29% | 20% | 16% | 16% | 15% | 15% | 17% | |
Q/Q Growth Rate | NA | NA | NA | -1% | 1% | 4% | 12% | |
Other Revenues | $1,374 | $2,353 | $4,972 | $1,049 | $1,046 | $1,230 | $1,647 | |
Y/Y Growth Rate | 27% | 71% | 111% | 150% | 138% | 85% | 99% | |
Q/Q Growth Rate | NA | NA | NA | 27% | 0% | 18% | 34% | |
Total Google Segment Revenues | $37,905 | $46,039 | $55,550 | $12,951 | $13,107 | $13,772 | $15,720 | |
Y/Y Growth Rate | 29% | 21% | 21% | 22% | 20% | 19% | 22% | |
Q/Q Growth Rate | NA | NA | NA | 0% | 1% | 5% | 14% | |
Total Motorola Mobile Segment Revenues | NA | $4,136 | $4,443 | $1,018 | $998 | $1,184 | $1,243 | |
Y/Y Growth Rate | NA | NA | 7% | NA | 18% | -33% | -18% | |
Q/Q Growth Rate | NA | NA | NA | -33% | -2% | 19% | 5% | |
Elimination & Other | NA | NA | -$168 | NA | NA | -$63 | -$105 | |
Total Consolidated Revenues | $37,905 | $50,175 | $59,825 | $13,969 | $14,105 | $14,893 | $16,858 | |
Y/Y Growth Rate | 29% | 32% | 19% | 31% | 19% | 12% | 17% | |
Q/Q Growth Rate | NA | NA | NA | -3% | 1% | 6% | 13% | |
As % of Google Segment Revenues | ||||||||
Google Websites | 69% | 68% | 67% | 67% | 68% | 68% | 67% | |
Google Network Members’ Websites | 27% | 27% | 24% | 25% | 24% | 23% | 23% | |
Other Revenues | 4% | 5% | 9% | 8% | 8% | 9% | 10% |
Full Year | 2013 | |||||||
(unaudited) | (unaudited) | |||||||
Costs | 2011 | 2012 | 2013 | Q1 | Q2 | Q3 | Q4 | |
Cost of Revenues* | $13,188 | $20,634 | $25,858 | $5,944 | $6,063 | $6,413 | $7,438 | |
As % of Consolidated Revenues | 35% | 41% | 43% | 43% | 43% | 43% | 44% | |
Traffic Acquisition Cost | $8,811 | $10,956 | $12,258 | $2,962 | $3,013 | $2,972 | $3,311 | |
As % of Google Segment Revenues | 23% | 24% | 22% | 23% | 23% | 22% | 21% | |
Other Cost of Revenues* | $4,377 | $9,678 | $13,600 | $2,982 | $3,050 | $3,441 | $4,127 | |
As % of Consolidated Revenues | 12% | 19% | 23% | 21% | 22% | 23% | 24% | |
Research & Development* | $5,162 | $6,793 | $7,952 | $1,837 | $1,987 | $2,017 | $2,111 | |
As % of Consolidated Revenues | 14% | 14% | 13% | 13% | 14% | 14% | 13% | |
Sales & Marketing* | $4,589 | $6,143 | $7,253 | $1,586 | $1,735 | $1,806 | $2,126 | |
As % of Consolidated Revenues | 12% | 12% | 12% | 11% | 12% | 12% | 13% | |
General & Administrative* | $2,724 | $3,845 | $4,796 | $1,125 | $1,197 | $1,213 | $1,261 | |
As % of Consolidated Revenues | 7% | 8% | 8% | 8% | 9% | 8% | 7% | |
Charge Related to the Resolution of Department of Justice Investigation | $500 | NA | NA | NA | NA | NA | NA | |
As % of Consolidated Revenues | 1% | NA | NA | NA | NA | NA | NA | |
Total Costs & Expenses* | $26,163 | $37,415 | $45,859 | $10,492 | $10,982 | $11,449 | $12,936 | |
Y/Y Growth Rate | 38% | 43% | 23% | 45% | 28% | 8% | 17% | |
Q/Q Growth Rate | NA | NA | NA | -5% | 5% | 4% | 13% |
* Includes stock-based compensation expense.
Full Year | 2013 | |||||||
(unaudited) | (unaudited) | |||||||
Profitability | 2011 | 2012 | 2013 | Q1 | Q2 | Q3 | Q4 | |
Income from Operations | $11,742 | $12,760 | $13,966 | $3,477 | $3,123 | $3,444 | $3,922 | |
As % of Consolidated Revenues | 31% | 25% | 23% | 25% | 22% | 23% | 23% | |
Google Segment Income from Operations* | $14,216 | $16,308 | $18,561 | $4,403 | $4,208 | $4,635 | $5,315 | |
As % of Google Segment Revenues | 38% | 35% | 33% | 34% | 32% | 34% | 34% | |
Motorola Mobile Segment Loss from Operations* | NA | -$393 | -$1,029 | -$179 | -$218 | -$248 | -$384 | |
As % of Motorola Mobile Segment Revenues | NA | -10% | -23% | -18% | -22% | -21% | -31% | |
Net Income | $9,737 | $10,737 | $12,920 | $3,346 | $3,228 | $2,970 | $3,376 | |
Net Income from Continuing Operations | $9,737 | $10,788 | $12,214 | $3,324 | $2,554 | $2,955 | $3,381 | |
As % of Consolidated Revenues | 26% | 22% | 20% | 24% | 18% | 20% | 20% | |
Net Income (Loss) from Discontinued Operations | NA | -$51 | $706 | $22 | $674 | $15 | -$5 | |
EPS - Basic | $30.17 | $32.81 | $38.82 | $10.13 | $9.71 | $8.90 | $10.08 | |
EPS - Basic - Continuing Operations | $30.17 | $32.97 | $36.70 | $10.06 | $7.68 | $8.86 | $10.10 | |
EPS - Basic - Discontinued Operations | NA | -$0.16 | $2.12 | $0.07 | $2.03 | $0.04 | -$0.02 | |
EPS - Diluted | $29.76 | $32.31 | $38.13 | $9.94 | $9.54 | $8.75 | $9.90 | |
EPS - Diluted - Continuing Operations | $29.76 | $32.46 | $36.05 | $9.87 | $7.55 | $8.71 | $9.91 | |
EPS - Diluted - Discontinued Operations | NA | -$0.15 | $2.08 | $0.07 | $1.99 | $0.04 | -$0.01 | |
Number of Shares | ||||||||
Basic | 322,778 | 327,213 | 332,846 | 330,454 | 332,480 | 333,616 | 334,836 | |
Diluted | 327,214 | 332,305 | 338,809 | 336,663 | 338,337 | 339,235 | 341,003 |
* Because of the eliminations, the sum of the two segment results will not equal the consolidated results unless the eliminations are taken into account.
Balance Sheet & Cash Flow Statement Information (including Motorola Home)
(In millions, except DSO)
Full Year | 2013 | |||||||
(unaudited) | (unaudited) | |||||||
2011 | 2012 | 2013 | Q1 | Q2 | Q3 | Q4 | ||
Cash, Cash Equivalents & Marketable Securities | $44,626 | $48,088 | $58,717 | $50,098 | $54,432 | $56,523 | $58,717 | |
Accounts Receivable, Net of Allowance (Google stand-alone) | $5,427 | $6,769 | $8,098 | $6,526 | $6,792 | $7,083 | $8,098 | |
DSO for Google stand-alone (in days, using ending AR) | 52 | 54 | 53 | 45 | 47 | 47 | 47 | |
Property and Equipment, Net | $9,603 | $11,854 | $16,524 | $12,300 | $12,912 | $14,867 | $16,524 | |
Total Assets | $72,574 | $93,798 | $110,920 | $96,692 | $101,182 | $105,068 | $110,920 | |
Cash Flow from Operations | $14,565 | $16,619 | $18,659 | $3,633 | $4,705 | $5,083 | $5,238 | |
Capital Expenditures | $3,438 | $3,273 | $7,358 | $1,203 | $1,611 | $2,289 | $2,255 |
Supplemental Information
(In millions, except headcount data)
Full Year | 2013 | |||||||
(unaudited) | (unaudited) | |||||||
2011 | 2012 | 2013 | Q1 | Q2 | Q3 | Q4 | ||
Consolidated Amortization Expense of Intangible Assets | $455 | $893 | $1,158 | $315 | $283 | $281 | $279 | |
Google Segment Amortization Expense of Intangible Assets | $455 | $792 | $1,010 | $278 | $246 | $244 | $242 | |
Motorola Mobile Segment Amortization Expense of Intangible Assets | NA | $101 | $148 | $37 | $37 | $37 | $37 | |
Stock-Based Compensation Expense (excluding Motorola Home) | $1,974 | $2,649 | $3,268 | $697 | $783 | $886 | $902 | |
Google Segment International Revenues as % of Google Segment Revenues | 54% | 54% | 55% | 55% | 55% | 56% | 56% | |
Ending Permanent Headcount | 32,467 | 53,861 | 47,756 | 53,891 | 44,777 | 46,421 | 47,756 | |
Google Stand-Alone Headcount | 32,467 | 37,544 | 43,862 | 38,739 | 40,178 | 42,162 | 43,862 | |
Sequential Headcount Growth Rate for Google Stand-Alone | 33% | 16% | 17% | 3% | 4% | 5% | 4% | |
Motorola Stand-Alone Headcount | NA | 16,317 | 3,894 | 15,152 | 4,599 | 4,259 | 3,894 |