Facebook Financial Performance Report Essay example

1319 Words Apr 11th, 2013 6 Pages
Financial Performance
7.1 Financial Statement
FACEBOOK, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except for number of shares and par value)
(Unaudited)

| | | | | | | | | | | June 30,
2012 | | | December 31,
2011 | | Assets | | | | | | | | | Current assets: | | | | | | | | | Cash and cash equivalents | | $ | 2,098 | | | $ | 1,512 | | Marketable securities | | | 8,090 | | | | 2,396 | | Accounts receivable, net of allowances for doubtful accounts of $17 as of June 30, 2012 and December 31, 2011 | | | 578 | | | | 547 | | Income tax refundable | | | 567 | | | | 0 | | Prepaid expenses and other current
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| | | | 858 | | | | 156 | | General and administrative | | | 463 | | | | 83 | | | | 567 | | | | 140 | | | | | | | | | | | | | | | | | | | Total costs and expenses | | | 1,927 | | | | 488 | | | | 2,604 | | | | 831 | | | | | | | | | | | | | | | | | | | (Loss) income from operations | | | (743 | ) | | | 407 | | | | (362 | ) | | | 795 | | Interest and other income (expense), net: | | | | | | | | | | | | | | | | | Interest expense | | | (10 | ) | | | (9 | ) | | | (24 | ) | | | (17 | ) | Other income (expense), net | | | (12 | ) | | | 1 | | | | 3 | | | | 19 | | | | | | | | | | | | | | | | | | | (Loss) income before benefit from (provision for) income taxes | | | (765 | ) | | | 399 | | | | (383 | ) | | | 797 | | Benefit from (provision for) income taxes | | | 608 | | | | (159 | ) | | | 431 | | | | (326 | ) | | | | | | | | | | | | | | | | | | Net (loss) income | | $ | (157 | ) | | $ | 240 | | | $ | 48 | | | $ | 471 | | | | | | | | | | | | | | | | | | | Less: Net income attributable to participating securities | | | 0 | | | | 81 | | | | 21 |

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