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Google Inc.

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CONSOLIDATED BALANCE SHEETS

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(In millions)

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As of As of

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December 31, December 31,

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2011 2012

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(unaudited)

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Assets

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Current assets:

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Cash and cash equivalents $9,983 $14,778

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Marketable securities 34,643 33,310

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Accounts receivable, net of allowance 5,427 7,885

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Inventories 35 505

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Receivable under reverse repurchase agreements 745 700

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Deferred income taxes, net 215 1,144

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Prepaid revenue share, expenses and other assets 1,710 2,132

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Total current assets 52,758 60,454

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Prepaid revenue share, expenses and other assets, non-current 499 2,011

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Non-marketable equity securities 790 1,469

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Property and equipment, net 9,603 11,854

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Intangible assets, net 1,578 7,473

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Goodwill 7,346 10,537

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Total assets $72,574 $93,798

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Liabilities and Stockholders' Equity

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Current liabilities:

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Accounts payable $588 $2,012

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Short-term debt 1,218 2,549

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Accrued compensation and benefits 1,818 2,239

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Accrued expenses and other current liabilities 1,370 3,258

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Accrued revenue share 1,168 1,471

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Securities lending payable 2,007 1,673

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Deferred revenue 547 895

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Income taxes payable, net 197 240

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Total current liabilities 8,913 14,337

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Long-term debt 2,986 2,988

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Deferred revenue, non-current 44 100

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Income taxes payable, non-current 1,693 2,046

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Deferred income taxes, net, non-current 287 1,872

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Other long-term liabilities 506 740

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Stockholders' equity:

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Common stock and additional paid-in capital 20,264 22,835

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Accumulated other comprehensive income 276 538

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Retained earnings 37,605 48,342

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Total stockholders' equity 58,145 71,715

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Total liabilities and stockholders' equity $72,574 $93,798

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