$META
Meta Platforms Inc

2012 Q2 Form 10-Q Financial Statement

#000119312512325997 Filed on July 31, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $1.184B $895.0M
YoY Change 32.29%
Cost Of Revenue $367.0M $210.0M
YoY Change 74.76%
Gross Profit $817.0M $685.0M
YoY Change 19.27%
Gross Profit Margin 69.0% 76.54%
Selling, General & Admin $855.0M $179.0M
YoY Change 377.65%
% of Gross Profit 104.65% 26.13%
Research & Development $705.0M $99.00M
YoY Change 612.12%
% of Gross Profit 86.29% 14.45%
Depreciation & Amortization $139.0M $72.00M
YoY Change 93.06%
% of Gross Profit 17.01% 10.51%
Operating Expenses $1.560B $278.0M
YoY Change 461.15%
Operating Profit -$743.0M $407.0M
YoY Change -282.56%
Interest Expense $10.00M $9.000M
YoY Change 11.11%
% of Operating Profit 2.21%
Other Income/Expense, Net -$12.00M $1.000M
YoY Change -1300.0%
Pretax Income -$765.0M $399.0M
YoY Change -291.73%
Income Tax -$608.0M $159.0M
% Of Pretax Income 39.85%
Net Earnings -$157.0M $240.0M
YoY Change -165.42%
Net Earnings / Revenue -13.26% 26.82%
Basic Earnings Per Share -$0.08 $0.12
Diluted Earnings Per Share -$0.08 $0.11
COMMON SHARES
Basic Shares Outstanding 1.879B shares 1.292B shares
Diluted Shares Outstanding 1.879B shares 1.510B shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.19B
YoY Change
Cash & Equivalents $2.098B $1.131B
Short-Term Investments $8.090B
Other Short-Term Assets $634.0M
YoY Change
Inventory
Prepaid Expenses
Receivables $578.0M
Other Receivables $567.0M
Total Short-Term Assets $11.97B
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $2.105B
YoY Change
Goodwill $100.0M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $47.00M
YoY Change
Total Long-Term Assets $2.961B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $11.97B
Total Long-Term Assets $2.961B
Total Assets $14.93B
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.00M
YoY Change
Accrued Expenses $441.0M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $312.0M
YoY Change
Total Short-Term Liabilities $1.034B
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $394.0M
YoY Change
Other Long-Term Liabilities $191.0M
YoY Change
Total Long-Term Liabilities $191.0M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.034B
Total Long-Term Liabilities $191.0M
Total Liabilities $1.619B
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $1.654B
YoY Change
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.31B
YoY Change
Total Liabilities & Shareholders Equity $14.93B
YoY Change

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income -$157.0M $240.0M
YoY Change -165.42%
Depreciation, Depletion And Amortization $139.0M $72.00M
YoY Change 93.06%
Cash From Operating Activities $240.0M $129.0M
YoY Change 86.05%
INVESTING ACTIVITIES
Capital Expenditures -$413.0M -$132.0M
YoY Change 212.88%
Acquisitions
YoY Change
Other Investing Activities -$6.037B -$1.900B
YoY Change 217.74%
Cash From Investing Activities -$6.450B -$2.032B
YoY Change 217.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $6.760B
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.040B 255.0M
YoY Change 2660.78%
NET CHANGE
Cash From Operating Activities 240.0M 129.0M
Cash From Investing Activities -6.450B -2.032B
Cash From Financing Activities 7.040B 255.0M
Net Change In Cash 830.0M -1.648B
YoY Change -150.36%
FREE CASH FLOW
Cash From Operating Activities $240.0M $129.0M
Capital Expenditures -$413.0M -$132.0M
Free Cash Flow $653.0M $261.0M
YoY Change 150.19%

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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap General And Administrative Expense
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Deferred Revenue And Customer Advances And Deposits
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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36.04
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Increase Decrease In Accounts Receivable
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41000000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Selling And Marketing Expense
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us-gaap Earnings Per Share Basic
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us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7090000000
us-gaap Cost Of Revenue
CostOfRevenue
644000000
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
14.86
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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us-gaap Revenues
Revenues
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us-gaap Payments To Acquire Marketable Securities
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Proceeds From Sale Of Available For Sale Securities
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us-gaap Repayments Of Long Term Capital Lease Obligations
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us-gaap Interest Paid
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Net Income Loss
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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us-gaap Income Tax Expense Benefit
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
27000000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b><i>Use of Estimates</i></b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%" align="justify"><font style="font-family:Times New Roman" size="2">Conformity with GAAP requires the use of estimates and judgments that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments we make about the carrying values of our assets and liabilities, which are not readily apparent from other sources. We base our estimates and judgments on historical information and on various other assumptions that we believe are reasonable under the circumstances. GAAP requires us to make estimates and judgments in several areas, including, but not limited to, those related to revenue recognition, collectability of accounts receivable, contingent liabilities, fair value of share-based awards, fair value of financial instruments, fair value of acquired intangible assets and goodwill, useful lives of intangible assets and property and equipment, and income taxes. These estimates are based on management&#x2019;s knowledge about current events and expectations about actions we may undertake in the future. Actual results could differ materially from those estimates.</font></p> </div>
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
13000000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
4385000 shares
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
226000000
us-gaap Interest Expense
InterestExpense
24000000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
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fb Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Value Of Shares Issued
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationValueOfSharesIssued
25000000
fb Share Based Compensation Arrangement By Share Based Payment Award Options Available For Grant Options Cancelled In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAvailableForGrantOptionsCancelledInPeriod
584000 shares
fb Share Based Compensation Arrangement By Share Based Payment Award Options Available For Grant Options Exercised In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAvailableForGrantOptionsExercisedInPeriod
0 shares
fb Share Based Compensation Arrangement By Share Based Payment Award Available For Grant Restricted Stock Units Granted In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardAvailableForGrantRestrictedStockUnitsGrantedInPeriod
28603000 shares
fb Share Based Compensation Arrangement By Share Based Payment Award Available For Grant Restricted Stock Units Cancelled In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardAvailableForGrantRestrictedStockUnitsCancelledInPeriod
4385000 shares
fb Increase Decrease In Deferred Tax Assets Net
IncreaseDecreaseInDeferredTaxAssetsNet
336000000
fb Share Based Compensation Arrangement By Share Based Payment Award Shares Authorized During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesAuthorizedDuringPeriod
25000000 shares
fb Increase Decrease In Platform Partners Payable
IncreaseDecreaseInPlatformPartnersPayable
-15000000
fb Capital Lease Agreement Period
CapitalLeaseAgreementPeriod
P3Y
fb Payments To Acquire Businesses Net Of Cash Acquired And Purchases Of Intangible And Other Assets
PaymentsToAcquireBusinessesNetOfCashAcquiredAndPurchasesOfIntangibleAndOtherAssets
575000000
CY2012Q1 fb Letters Of Credit Expiration Date
LettersOfCreditExpirationDate
2014-06-30
CY2012Q1 fb Minimum Number Of Days After Borrowing To Pay Additional Interest On Drawn Balances Outstanding
MinimumNumberOfDaysAfterBorrowingToPayAdditionalInterestOnDrawnBalancesOutstanding
P180D
CY2012Q1 fb Minimum Number Of Days After Entering Bridge Facility To Pay Commitment Fee On Daily Undrawn Balance
MinimumNumberOfDaysAfterEnteringBridgeFacilityToPayCommitmentFeeOnDailyUndrawnBalance
P90D
CY2011 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y4M17D
CY2011Q2 us-gaap Costs And Expenses
CostsAndExpenses
488000000
CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2011Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2011Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
240000000
CY2011Q2 us-gaap Share Based Compensation
ShareBasedCompensation
64000000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2011Q2 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
81000000
CY2011Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
83000000
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1510000000 shares
CY2011Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0
CY2011Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
96000000
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2011Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
99000000
CY2011Q2 us-gaap Cost Of Revenue
CostOfRevenue
210000000
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1292000000 shares
CY2011Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
61000000
CY2011Q2 us-gaap Revenues
Revenues
895000000
CY2011Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
399000000
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
240000000
CY2011Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
159000000
CY2011Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
159000000
CY2011Q2 us-gaap Amortization Of Intangible Assets
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CY2011Q2 us-gaap Interest Expense
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CY2011Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2012Q2 us-gaap Costs And Expenses
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CY2012Q2 us-gaap Operating Income Loss
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CY2012Q2 us-gaap Other Nonoperating Income Expense
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CY2012Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2012Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1106000000
CY2012Q2 us-gaap Earnings Per Share Diluted
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-0.08
CY2012Q2 us-gaap Undistributed Earnings Allocated To Participating Securities
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CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1879000000 shares
CY2012Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2012Q2 us-gaap Selling And Marketing Expense
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CY2012Q2 us-gaap Earnings Per Share Basic
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CY2012Q2 us-gaap Operating Leases Rent Expense Net
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CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2012Q2 us-gaap Net Income Loss
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CY2012Q2 us-gaap Interest Expense
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CY2012Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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