2014 Financial Tables

Full year financial tables with quarterly data.

Google's Income Statement Information

Please note: Results from Motorola Home and Motorola Mobile 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.

On April 2, 2014, we issued shares of Class C capital stock as a dividend to our stockholders.  Except for the number of authorized shares and par value, all references to share and per share amounts have been retroactively restated for all prior periods shown to reflect the stock split, which was effected in the form of a stock dividend.

(In millions, except share amounts which are reflected in thousands and per share amounts)

  Full Year 2014
      (unaudited) (unaudited) (unaudited) (unaudited) (unaudited)
Revenues 2012 2013 2014 Q1 Q2 Q3 Q4
Google Websites $31,221 $37,422 $45,085 $10,469 $10,935 $11,252 $12,429
Y/Y Growth Rate 19% 20% 20% 21% 23% 20% 18%
Q/Q Growth Rate NA NA NA -1% 4% 3% 10%
Google Network Members' Websites $12,465 $13,125 $13,971 $3,397 $3,424 $3,430 $3,720
Y/Y Growth Rate 20% 5% 6% 4% 7% 9% 6%
Q/Q Growth Rate NA NA NA -4% 1% 0% 8%
Total Advertising Revenues $43,686 $50,547 $59,056 $13,866 $14,359 $14,682 $16,149
Y/Y Growth Rate 20% 16% 17% 17% 19% 17% 15%
Q/Q Growth Rate NA NA NA -1% 4% 2% 10%
Other Revenues $2,354 $4,972 $6,945 $1,554 $1,596 $1,841 $1,954
Y/Y Growth Rate 71% 111% 40% 48% 53% 50% 19%
Q/Q Growth Rate NA NA NA -6% 3% 15% 6%
Total Revenues $46,039 $55,519 $66,001 $15,420 $15,955 $16,523 $18,103
Y/Y Growth Rate 21% 21% 19% 19% 22% 20% 15%
Q/Q Growth Rate NA NA NA -2% 3% 4% 10%
As % of Revenues              
Google Websites 68% 67% 68% 68% 69% 68% 69%
Google Network Members’ Websites 27% 24% 21% 22% 21% 21% 20%
Other Revenues 5% 9% 11% 10% 10% 11% 11%
  Full Year 2014
      (unaudited) (unaudited) (unaudited) (unaudited) (unaudited)
Costs 2012 2013 2014 Q1 Q2 Q3 Q4
Cost of Revenues $17,176 $21,993 $25,691 $5,961 $6,114 $6,695 $6,921
As a % of Revenues 37% 40% 39% 39% 38% 40% 38%
Traffic Acquisition Cost $10,956 $12,258 $13,496 $3,232 $3,293 $3,348 $3,623
As % of Revenues 24% 22% 20% 21% 20% 20% 20%
Other Cost of Revenues* $6,220 $9,735 $12,195 $2,729 $2,821 $3,347 $3,298
As % of Revenues 14% 18% 18% 18% 18% 20% 18%
Research & Development* $6,083 $7,137 $9,832 $2,126 $2,238 $2,655 $2,813
As % of Revenues 13% 13% 15% 14% 14% 16% 16%
Sales & Marketing* $5,465 $6,554 $8,131 $1,729 $1,941 $2,084 $2,377
As % of Revenues 12% 12% 12% 11% 12% 13% 13%
General & Administrative* $3,481 $4,432 $5,851 $1,489 $1,404 $1,365 $1,593
As % of Revenues 8% 8% 9% 9% 9% 8% 9%
Total Costs & Expenses* $32,205 $40,116 $49,505 $11,305 $11,697 $12,799 $13,704
Y/Y Growth Rate 23% 25% 23% 23% 21% 28% 22%
Q/Q Growth Rate NA NA NA 0% 3% 9% 7%

* Includes stock-based compensation expense.

  Full Year 2014
      (unaudited) (unaudited) (unaudited) (unaudited) (unaudited)
Profitability 2012 2013 2014 Q1 Q2 Q3 Q4
Income from Operations $13,834 $15,403 $16,496 $4,115 $4,258 $3,724 $4,399
As % of Revenues 30% 28% 25% 27% 27% 23% 24%
Net income from continuing operations $11,553 $13,347 $13,928 $3,650 $3,490 $2,998 $3,790
As % of Revenues 25% 24% 21% 24% 22% 18% 21%
Net (loss) income from discontinued operations -$816 -$427 $516 -$198 -$68 -$185 $967
Net Income $10,737 $12,920 $14,444 $3,452 $3,422 $2,813 $4,757
EPS - Basic $16.41 $19.41 $21.37 $5.13 $5.07 $4.15 $7.01
EPS - Basic - Continuing operations $17.65 $20.05 $20.61 $5.42 $5.17 $4.42 $5.58
EPS - Basic - Discontinued operations -$1.25 -$0.64 $0.76 -$0.29 -$0.10 -$0.27 $1.43
EPS - Diluted $16.16 $19.07 $21.02 $5.04 $4.99 $4.09 $6.91
EPS - Diluted - Continuing operations $17.38 $19.70 $20.27 $5.33 $5.09 $4.36 $5.50
EPS - Diluted - Discontinued operations -$1.23 -$0.63 $0.75 -$0.29 -$0.10 -$0.27 $1.41
Number of Shares              
Basic 654,426 665,692 675,935 672,587 675,115 677,097 678,943
Diluted 664,610 677,618 687,070 685,212 686,363 688,215 688,491

Balance Sheet & Cash Flow Statement Information

(In millions, except DSO)

  Full Year 2014
      (unaudited) (unaudited) (unaudited) (unaudited) (unaudited)
2012 2013 2014 Q1 Q2 Q3 Q4
Cash, Cash Equivalents & Marketable Securities $48,088 $58,717 $64,395 $59,379 $61,204 $62,157 $64,395
Accounts Receivable, net of allowance (Google stand-alone) $6,769 $8,089 $9,383 $7,827 $8,321 $8,237 $9,383
DSO for Google stand-alone (in days, using ending AR) 54 53 52 46 47 46 48
Property and Equipment, Net $11,854 $16,524 $23,883 $17,877 $19,486 $20,981 $23,883
Total Assets $93,798 $110,920 $131,133 $116,526 $121,608 $125,781 $131,133
Cash Flow from Operations $16,619 $18,659 $22,376 $4,391 $5,627 $5,994 $6,364
Capital Expenditures $3,273 $7,358 $10,959 $2,345 $2,646 $2,417 $3,551

Supplemental Information

(In millions, except headcount data)

  Full Year 2014
      (unaudited) (unaudited) (unaudited) (unaudited) (unaudited)
2012 2013 2014 Q1 Q2 Q3 Q4
Amortization Expense of Intangible Assets $893 $1,158 $1,063 $270 $266 $285 $242
Google Amortization Expense of Intangible Assets $792 $1,010 $1,051 $258 $266 $285 $242
Motorola Mobile Amortization Expense of Intangible Assets $101 $148 $12 $12 $0 $0 $0
Stock-Based Compensation Expense (excluding Motorola Home & Mobile) $2,473 $3,127 $4,175 $839 $880 $1,255 $1,201
International Revenues as % of Revenues 54% 55% 57% 57% 58% 58% 56%
Ending Permanent Headcount 53,861 47,756 53,600 49,829 52,069 55,030 53,600
Google Stand-Alone Headcount 37,544 43,862 53,600 46,170 48,584 51,564 53,600
Sequential Headcount Growth Rate for Google stand-alone NA NA 22% 5% 5% 6% 4%
Motorola Stand-Alone Headcount 16,317 3,894 0 3,659 3,485 3,466 0