FACEBOOK, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2020 2019 2020 2019
Cash flows from operating activities
Net income $ 7,846 $ 6,091 $ 17,927 $ 11,136
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization 1,698 1,416 4,999 4,273
Share-based compensation 1,722 1,249 4,752 3,562
Deferred income taxes (1,506) 175 (816) 358
Other 7 30 56 44
Changes in assets and liabilities:
Accounts receivable (377) (328) 1,547 (264)
Prepaid expenses and other current assets 264 (360) (89) (527)
Other assets 6 ƒ (8) 66
Accounts payable 139 89 39 2
Partners payable 58 39 (100) 59
Accrued expenses and other current liabilities (258) 457 (3,273) 6,439
Deferred revenue and deposits 112 31 111 82
Other liabilities 117 418 (438) 2,001
Net cash provided by operating activities
9,828 9,307 24,707 27,231
Cash flows from investing activities
Purchases of property and equipment, net (3,689) (3,532) (10,502) (11,002)
Purchases of marketable securities (14,130) (7,397) (28,193) (19,152)
Sales of marketable securities 4,398 2,946 9,779 7,402
Maturities of marketable securities 2,857 2,943 10,725 7,048
Purchases of equity investments (6,020) ƒ (6,302) (61)
Acquisitions of businesses, net of cash acquired, and purchases of
intangible assets (12
)
(10
)
(384
)
(63
)
Other investing activities, net (3) ƒ (9) ƒ
Net cash used in investing activities
(16,599) (5,050) (24,886) (15,828)
Cash flows from financing activities
Taxes paid related to net share settlement of equity awards (1,000) (591) (2,444) (1,710)
Repurchases of Class A common stock (1,725) (1,148) (4,343) (2,906)
Principal payments on finance leases (189) (144) (398) (411)
Net change in overdraft in cash pooling entities (8) (141) (24) (260)
Other financing activities, net 10 5 124 14
Net cash used in financing activities
(2,912) (2,019) (7,085) (5,273)
Effect of exchange rate changes on cash, cash equivalents, and
restricted cash
93 (156
)
(36
)
(174
)
Net increase (decrease) in cash, cash equivalents, and restricted cash (9,590) 2,082 (7,300) 5,956
Cash, cash equivalents, and restricted cash at beginning of the period 21,569 13,998 19,279 10,124
Cash, cash equivalents, and restricted cash at end of the period
$ 11,979 $ 16,080 $ 11,979 $ 16,080
Reconciliation of cash, cash equivalents, and restricted cash to
the condensed consolidated balance sheets
Cash and cash equivalents $ 11,617 $ 15,979 $ 11,617 $ 15,979
Restricted cash, included in prepaid expenses and other current
assets
222 7 222 7
Restricted cash, included in other assets 140 94 140 94
Total cash, cash equivalents, and restricted cash
$ 11,979 $ 16,080 $ 11,979 $ 16,080