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