XML 70 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statement of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net income $ 2,856 $ 2,609 $ 3,229
Adjustments:      
Provision for transaction and loan losses 791 580 517
Depreciation and amortization 1,400 1,200 940
Stock-based compensation 609 488 458
Deferred income taxes (31) (35) 17
Excess tax benefits from stock-based compensation (201) (130) (80)
Gain on sale of Skype 0 0 (1,664)
Gain on sale of equity investments 75 0 0
(Gain) loss on divestiture of business 0 (118) 257
Gain on acquisitions 0 0 (79)
Changes in assets and liabilities, net of acquisition effects      
Accounts receivable (123) (207) (292)
Other current assets (378) (310) 18
Other non-current assets (108) (96) (18)
Accounts payable 7 (16) 29
Accrued expenses and other liabilities (3) (164) (202)
Deferred revenue 20 28 12
Income taxes payable and other tax liabilities 231 9 132
Net cash provided by operating activities 4,995 3,838 3,274
Cash flows from investing activities:      
Purchases of property and equipment, net (1,250) (1,257) (963)
Changes in principal loans receivable, net (794) (727) (587)
Purchases of investments (7,505) (3,128) (2,290)
Maturities and sales of investments 3,943 1,421 1,596
Acquisitions, net of cash acquired (869) (143) (3,223)
Repayment of note receivable and sale of related equity investments 485 0 0
Proceeds from divested business, net of cash disposed 0 144 0
Proceeds from the sale of Skype 0 0 2,269
Other (22) (73) (109)
Net cash used in investing activities (6,012) (3,763) (3,307)
Cash flows from financing activities:      
Proceeds from issuance of common stock 437 483 242
Repurchases of common stock (1,343) (898) (1,064)
Excess tax benefits from stock-based compensation 201 130 80
Tax witholdings related to net share settlements of restricted stock awards and units (267) (186) (147)
Proceeds from issuance of long-term debt, net 0 2,976 0
Net (repayments) and borrowings under commercial paper program 0 (550) 250
Repayment of acquired debt (400) 0 (199)
Funds receivable and customer accounts, net (1,149) (4,126) (1,369)
Funds payable and amounts due to customers, net 1,149 4,126 1,369
Other 18 (4) 0
Net cash (used in) provided by financing activities (1,354) 1,951 (838)
Effect of exchange rate changes on cash and cash equivalents 48 100 (15)
Net (decrease) increase in cash and cash equivalents (2,323) 2,126 (886)
Cash and cash equivalents at beginning of period 6,817 4,691 5,577
Cash and cash equivalents at end of period 4,494 6,817 4,691
Supplemental cash flow disclosures:      
Cash paid for interest 99 15 29
Cash paid for income taxes 466 789 373
Non-cash investing and financing activities:      
Common stock options assumed pursuant to acquisition 0 0 32
Note receivable from divested business $ 0 $ 0 $ 288