2013 Q2 Form 10-Q Financial Statement

#000106508813000116 Filed on July 19, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $3.877B $3.398B
YoY Change 14.1% 23.1%
Cost Of Revenue $1.211B $987.0M
YoY Change 22.7% 27.68%
Gross Profit $2.666B $2.411B
YoY Change 10.58% 21.58%
Gross Profit Margin 68.76% 70.95%
Selling, General & Admin $1.190B $1.107B
YoY Change 7.5% 10.7%
% of Gross Profit 44.64% 45.91%
Research & Development $451.0M $394.0M
YoY Change 14.47% 32.66%
% of Gross Profit 16.92% 16.34%
Depreciation & Amortization $347.0M $290.0M
YoY Change 19.66% 39.69%
% of Gross Profit 13.02% 12.03%
Operating Expenses $1.916B $1.716B
YoY Change 11.66% 16.89%
Operating Profit $750.0M $695.0M
YoY Change 7.91% 33.91%
Interest Expense $6.000M $156.0M
YoY Change -96.15% -168.51%
% of Operating Profit 0.8% 22.45%
Other Income/Expense, Net
YoY Change
Pretax Income $756.0M $851.0M
YoY Change -11.16% 192.44%
Income Tax $116.0M $159.0M
% Of Pretax Income 15.34% 18.68%
Net Earnings $640.0M $692.0M
YoY Change -7.51% 144.52%
Net Earnings / Revenue 16.51% 20.36%
Basic Earnings Per Share $0.49 $0.54
Diluted Earnings Per Share $0.49 $0.53
COMMON SHARES
Basic Shares Outstanding 1.297B shares 1.291B shares
Diluted Shares Outstanding 1.313B shares 1.309B shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.44B $5.737B
YoY Change 81.91% 30.48%
Cash & Equivalents $6.855B $4.038B
Short-Term Investments $3.581B $1.699B
Other Short-Term Assets $982.0M $960.0M
YoY Change 2.29% 94.64%
Inventory
Prepaid Expenses
Receivables $743.0M $648.0M
Other Receivables $11.29B $5.916B
Total Short-Term Assets $23.45B $13.28B
YoY Change 76.58% 34.65%
LONG-TERM ASSETS
Property, Plant & Equipment $2.697B $2.238B
YoY Change 20.51% 29.58%
Goodwill $8.394B $8.417B
YoY Change -0.27% 1.86%
Intangibles
YoY Change
Long-Term Investments $2.506B $2.630B
YoY Change -4.71% -14.55%
Other Assets $581.0M $423.0M
YoY Change 37.35% -8.01%
Total Long-Term Assets $15.10B $14.98B
YoY Change 0.83% 0.05%
TOTAL ASSETS
Total Short-Term Assets $23.45B $13.28B
Total Long-Term Assets $15.10B $14.98B
Total Assets $38.55B $28.26B
YoY Change 36.42% 13.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $313.0M $257.0M
YoY Change 21.79% 4.27%
Accrued Expenses $1.711B $1.468B
YoY Change 16.55% 7.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $410.0M $564.0M
YoY Change -27.3% -44.43%
Total Short-Term Liabilities $11.67B $6.800B
YoY Change 71.62% 10.69%
LONG-TERM LIABILITIES
Long-Term Debt $4.123B $1.518B
YoY Change 171.61% -0.8%
Other Long-Term Liabilities $217.0M $72.00M
YoY Change 201.39% 29.05%
Total Long-Term Liabilities $217.0M $72.00M
YoY Change 201.39% -95.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.67B $6.800B
Total Long-Term Liabilities $217.0M $72.00M
Total Liabilities $16.90B $9.346B
YoY Change 80.82% 8.37%
SHAREHOLDERS EQUITY
Retained Earnings $17.32B $14.65B
YoY Change 18.18% 34.17%
Common Stock $2.000M $2.000M
YoY Change 0.0% 30.89%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.995B $7.750B
YoY Change 16.06% 12.76%
Treasury Stock Shares 288.0M shares 264.0M shares
Shareholders Equity $21.65B $18.91B
YoY Change
Total Liabilities & Shareholders Equity $38.55B $28.26B
YoY Change 36.42% 13.79%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $640.0M $692.0M
YoY Change -7.51% 144.52%
Depreciation, Depletion And Amortization $347.0M $290.0M
YoY Change 19.66% 39.69%
Cash From Operating Activities $1.011B $768.0M
YoY Change 31.64% -1.88%
INVESTING ACTIVITIES
Capital Expenditures -$353.0M -$357.0M
YoY Change -1.12% 48.87%
Acquisitions
YoY Change
Other Investing Activities -$18.00M -$224.0M
YoY Change -91.96% -92.46%
Cash From Investing Activities -$371.0M -$581.0M
YoY Change -36.14% -81.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -352.0M -215.0M
YoY Change 63.72% -224.78%
NET CHANGE
Cash From Operating Activities 1.011B 768.0M
Cash From Investing Activities -371.0M -581.0M
Cash From Financing Activities -352.0M -215.0M
Net Change In Cash 288.0M -28.00M
YoY Change -1128.57% -98.76%
FREE CASH FLOW
Cash From Operating Activities $1.011B $768.0M
Capital Expenditures -$353.0M -$357.0M
Free Cash Flow $1.364B $1.125B
YoY Change 21.24% 10.02%

Facts In Submission

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us-gaap Research And Development Expense
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us-gaap Sales Revenue Net
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us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount
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CY2012 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount
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CY2012Q4 us-gaap Stockholders Equity
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us-gaap Selling And Marketing Expense
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SellingAndMarketingExpense
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us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
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CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0 pure
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0 pure
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0062 pure
CY2012Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P4Y
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SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y1M6D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y1M6D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y
CY2013Q2 us-gaap Short Term Investments
ShortTermInvestments
3581000000 USD
CY2012Q4 us-gaap Short Term Investments
ShortTermInvestments
2591000000 USD
CY2013Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
70000000 USD
CY2012Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
63000000 USD
CY2012 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
51.89
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
55.35
CY2012Q4 us-gaap Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
0 shares
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TreasuryStockNumberOfSharesHeld
17000000 shares
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2013Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
288000000 shares
CY2013Q2 us-gaap Treasury Stock Value
TreasuryStockValue
8995000000 USD
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TreasuryStockValue
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CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
340000000 USD
CY2013Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
367000000 USD
us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
7000000 USD
us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
2000000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
117000000 USD
CY2013Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
71000000 USD
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
22000000 USD
us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
14000000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of estimates </font></div><div style="line-height:120%;text-align:left;padding-left:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of condensed consolidated financial statements in conformity with U.S.&#160;generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to provisions for transaction and loan losses, legal contingencies, income taxes, revenue recognition, stock-based compensation, goodwill and the recoverability of intangible assets. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ from those estimates.</font></div></div>
CY2012Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
18000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
19000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
20000000 shares
CY2013Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
16000000 shares
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1313000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1316000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1309000000 shares
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1309000000 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1297000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1290000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1296000000 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1291000000 shares
CY2013Q2 ebay Accumulated Other Comprehensive Income Loss Tax Provision Benefit
AccumulatedOtherComprehensiveIncomeLossTaxProvisionBenefit
317000000 USD
CY2012Q4 ebay Accumulated Other Comprehensive Income Loss Tax Provision Benefit
AccumulatedOtherComprehensiveIncomeLossTaxProvisionBenefit
225000000 USD
CY2013Q1 ebay Accumulated Other Comprehensive Income Loss Tax Provision Benefit
AccumulatedOtherComprehensiveIncomeLossTaxProvisionBenefit
282000000 USD
ebay Acquired Intangible Assets Amortization Expense
AcquiredIntangibleAssetsAmortizationExpense
164000000 USD
CY2013Q2 ebay Acquired Intangible Assets Amortization Expense
AcquiredIntangibleAssetsAmortizationExpense
82000000 USD
ebay Acquired Intangible Assets Amortization Expense
AcquiredIntangibleAssetsAmortizationExpense
168000000 USD
CY2012Q2 ebay Acquired Intangible Assets Amortization Expense
AcquiredIntangibleAssetsAmortizationExpense
84000000 USD
CY2013Q2 ebay Consumer Fico Credit Score At Prime
ConsumerFicoCreditScoreAtPrime
680 Credit_score
CY2012Q4 ebay Consumer Fico Credit Score At Prime
ConsumerFicoCreditScoreAtPrime
680 Credit_score
ebay Consumer Loans Receivable Purchased Gross
ConsumerLoansReceivablePurchasedGross
1300000000 USD
CY2012Q2 ebay Consumer Loans Receivable Purchased Gross
ConsumerLoansReceivablePurchasedGross
696000000 USD
CY2013Q2 ebay Consumer Loans Receivable Purchased Gross
ConsumerLoansReceivablePurchasedGross
934000000 USD
ebay Consumer Loans Receivable Purchased Gross
ConsumerLoansReceivablePurchasedGross
1800000000 USD
CY2013Q2 ebay Funds Payable And Amounts Due To Customers
FundsPayableAndAmountsDueToCustomers
9012000000 USD
CY2012Q4 ebay Funds Payable And Amounts Due To Customers
FundsPayableAndAmountsDueToCustomers
8094000000 USD
CY2013Q2 ebay Funds Receivable And Customer Accounts
FundsReceivableAndCustomerAccounts
9012000000 USD
CY2012Q4 ebay Funds Receivable And Customer Accounts
FundsReceivableAndCustomerAccounts
8094000000 USD
CY2012Q2 ebay Interest And Other Net
InterestAndOtherNet
38000000 USD
ebay Interest And Other Net
InterestAndOtherNet
15000000 USD
CY2013Q2 ebay Interest And Other Net
InterestAndOtherNet
6000000 USD
ebay Interest And Other Net
InterestAndOtherNet
69000000 USD
ebay Net Change In Funds Payable
NetChangeInFundsPayable
918000000 USD
ebay Net Change In Funds Payable
NetChangeInFundsPayable
328000000 USD
ebay Net Change In Funds Receivable
NetChangeInFundsReceivable
328000000 USD
ebay Net Change In Funds Receivable
NetChangeInFundsReceivable
918000000 USD
CY2013Q2 ebay Noncurrent Deferred And Uncertain Tax Liabilities
NoncurrentDeferredAndUncertainTaxLiabilities
889000000 USD
CY2012Q4 ebay Noncurrent Deferred And Uncertain Tax Liabilities
NoncurrentDeferredAndUncertainTaxLiabilities
972000000 USD
ebay Number Of Cash Pooling Arrangements
NumberOfCashPoolingArrangements
2 arrangements
CY2013Q2 ebay Number Of Representative Suits In Trial
NumberOfRepresentativeSuitsInTrial
5 Plaintiffs
CY2012 ebay Number Of Users Korean Subsidiary Iac Approximate
NumberOfUsersKoreanSubsidiaryIacApproximate
20000000 Users
CY2012 ebay Number Of Users Sueing Korean Subsidiary Iac Approximate
NumberOfUsersSueingKoreanSubsidiaryIacApproximate
149000 Users
ebay Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
92000000 USD
CY2013Q2 ebay Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
35000000 USD
CY2013Q2 ebay Other Indebtednessand Capital Lease Obligations Current
OtherIndebtednessandCapitalLeaseObligationsCurrent
10000000 USD
CY2012Q4 ebay Other Indebtednessand Capital Lease Obligations Current
OtherIndebtednessandCapitalLeaseObligationsCurrent
13000000 USD
CY2013Q2 ebay Other Indebtednessand Capital Lease Obligations Noncurrent
OtherIndebtednessandCapitalLeaseObligationsNoncurrent
35000000 USD
CY2012Q4 ebay Other Indebtednessand Capital Lease Obligations Noncurrent
OtherIndebtednessandCapitalLeaseObligationsNoncurrent
19000000 USD
ebay Payment For Tax Withholding Related To Vested And Released Restricted Stock Units
PaymentForTaxWithholdingRelatedToVestedAndReleasedRestrictedStockUnits
226000000 USD
ebay Payment For Tax Withholding Related To Vested And Released Restricted Stock Units
PaymentForTaxWithholdingRelatedToVestedAndReleasedRestrictedStockUnits
132000000 USD
CY2012Q4 ebay Percentage Of Loans And Interest Receivable Prime
PercentageOfLoansAndInterestReceivablePrime
0.558 pure
CY2013Q2 ebay Percentage Of Loans And Interest Receivable Prime
PercentageOfLoansAndInterestReceivablePrime
0.547 pure
CY2012Q4 ebay Percentageof Loansand Interest Receivable Current
PercentageofLoansandInterestReceivableCurrent
0.90 pure
CY2013Q2 ebay Percentageof Loansand Interest Receivable Current
PercentageofLoansandInterestReceivableCurrent
0.89 pure
CY2013Q2 ebay Pooling Arrangement Deposits
PoolingArrangementDeposits
4100000000 USD
CY2013Q2 ebay Pooling Arrangement Withdrawals
PoolingArrangementWithdrawals
4100000000 USD
CY2012Q2 ebay Provision For Transaction And Loan Losses
ProvisionForTransactionAndLoanLosses
131000000 USD
ebay Provision For Transaction And Loan Losses
ProvisionForTransactionAndLoanLosses
265000000 USD
ebay Provision For Transaction And Loan Losses
ProvisionForTransactionAndLoanLosses
368000000 USD
CY2013Q2 ebay Provision For Transaction And Loan Losses
ProvisionForTransactionAndLoanLosses
193000000 USD
ebay Reclassification From Accumulated Other Comprehensive Income Current Period Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodTax
0 USD
CY2013Q2 ebay Reclassification From Accumulated Other Comprehensive Income Current Period Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodTax
0 USD
CY2012Q4 ebay Treasury Stock Value Of Shares Repurchased
TreasuryStockValueOfSharesRepurchased
17000000 USD
CY2013Q2 ebay Treasury Stock Value Of Shares Repurchased
TreasuryStockValueOfSharesRepurchased
959000000 USD
CY2013Q2 ebay Weighted Average Consumer Fico Score
WeightedAverageConsumerFicoScore
687 Credit_score
CY2012Q4 ebay Weighted Average Consumer Fico Score
WeightedAverageConsumerFicoScore
689 Credit_score
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001065088
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
1294532392 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
EBAY INC
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
dei Trading Symbol
TradingSymbol
EBAY

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