11. Accounts Payable Turnover Ratio 21. Enterprise Value 1. Current Ratio 12. Total Asset Turnover Ratio 2. Acid-Test Ratio 22. EBITDA Ratio 3. Cash Ratio 13. Capital Intensity Ratio 14. Profit Margin Percentage 4. Total Debt Ratio | 23. Equity Multiplier 5. Times Interest Earned Ratio 15. Return on Assets 24. Dividend Payout Ratio 6. Cash Coverage Ratio 16. Return on Equity 25. Dividend Yield 7. Inventory Turnover Ratio 17. Price Earnings Ratio 26. Cash Flow from Assets 8. Days' Sales in Inventory Ratio 18. Price to Sales Ratio 9. Receivables Turnover 19. Market to Book Ratio 27. Cash Flows to Creditors 10. Days' Sales in Receivables 20. Book to Market Ratio 28. Cash Flow to Shareholders ontents Alphabet Inc. Alphabet Inc. CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) Year Ended December 31, 2016 2017 2018 90,272 $ 110,855 $ 136,819 Revenues Costs and expenses: Cost of revenues 35,138 45,583 59,549 Research and development Sales and marketing 13,948 16,625 21,419 12,893 10,485 16,333 General and administrative 6,985 6,872 2,736 8,126 European Commission fines Total costs and expenses 0 5,071 66,556 84,709 110,498 23,716 26,146 26,321 Income from operations 8,592 434 1,047 Other income (expense), net 24,150 27,193 34,913 Income before income taxes 4,672 14,531 Provision for income taxes 4,177 30,736 19,478 $ 12,662 $ Net income Basic net income per share of Class A and B common stock and Class C capital stock 28.32 $ 18.27 $ 44.22 Diluted net income per share of Class A and B common stock and Class C capital stock 27.85 $ 18.00 $ 43.70 See accompanying notes. InTeresr Erpene 4M-2018 TOTAL COuMUn Sharo fur Clas) A, B+c STOCe 695,140 (in thousands) Markar prce per share1035 6/ la.31.18 Alphabet Inc CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands, and par value per share amounts) As of December 31, 2017 As of December 31, 2018 Assets Current assets: Cash and cash equivalents Marketable securities Total cash, cash equivalents, and marketable securities 10,715 $ 16,701 91,156 101,871 92,439 109,140 Accounts receivable, net of allowance of $674 and $729 Income taxes receivable, net 18,336 20,838 355 1,107 4,236 135,676 13,859 369 749 2,983 124,308 7,813 Inventory Other current assets Total current assets Non-marketable investments Deferred income taxes 680 42,383 2,692 16,747 2,672 197,295 S 737 59,719 2,220 17,888 2,693 232,792 Property and equipment, net Intangible assets, net Goodwill Other non-current assets Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued compensation and benefits Accrued expenses and other current liabilities Accrued revenue share Deferred revenue Income taxes payable, net Total current liabilities $ 3,137 $ 4,581 10,177 3,975 1,432 4,378 6,839 16,958 4,592 1,784 881 24,183 3,969 340 12,812 69 34,620 4,012 Long-term debt Deferred revenue, non-current Income taxes payable, non-current Deferred income taxes 396 11,327 1,264 430 Other long-term liabilities Total liabilities Commitments and Contingencies (Note 9) Stockholders' equity: Convertible preferred stock, $0.001 par value per share, 100,000 shares authorized; no shares issued and outstanding Class A and Class B common stock, and Class C capital stock and additional paid-in capital, $0.001 par value per share: 15,000,000 shares authorized (Class A 9,000,000, Class B 3,000,000, Class C 3,000,000); 694,783 (Class A 298,470, Class B 46,972, Class C 349,341) and 695,556 (Class A 299,242, Class B 46,636, Class C 349,678) shares issued and outstanding 3,059 44,793 3,545 55,164 0 40,247 45,049 Accumulated other comprehensive loss Retained earnings Total stockholders' equity Total liabilities and stockholders' equity (992) 113,247 152,502 197,295 S (2,306) 134,885 177,628 232.792 See accompanying notes. Alphabet inc Alphabet Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31, 2016 2017 2018 Operating activities Net income Adjustments: Depreciation and impairment of property and equipment Amortization and impairment of intangible assets Stock-based compensation expense Deferred income taxes (Gain) loss on debt and equity securities, net 19,478 $ 12,662 $ 30,736 5,267 877 6,703 6,103 8,164 871 812 7,679 258 9,353 778 (6,650) (189) (38) 73 37 Other 376 294 Changes in assets and liabilities, net of effects of acquisitions: Accounts receivable (3,768) 8,211 (2,164) (2,578) (2,169) (2.251) (1,207) 1,067 8,614 483 371 47,971 Income taxes, net 3,125 Other assets 312 Accounts payable Accrued expenses and other liabilities Accrued revenue share Deferred revenue Net cash provided by operating activities 731 4,891 955 390 37,091 110 1,515 593 223 36,036 Investing activities Purchases of property and equipment Proceeds from disposals of property and equipment (13,184) (10,212) (25,139) 240 99 98 Purchases of marketable securities (84,509) 66,895 (1,109) (92,195) 73,959 (1,745) (50,158) 48,507 (2.073) 1,752 Maturities and sales of marketable securities Purchases of non-marketable investments Maturities and sales of non-marketable investments Cash collateral related to securities lending Investments in reverse repurchase agreements Acquisitions, net of cash acquired, and purchases of intangible assets 494 533 (2,428) 0 450 0 (287) (986) (1,491) Proceeds from collection of notes receivable 1,419 Net cash used in investing activities (31,165) (28,504) (31,401) Financing activities Net payments related to stock-based award activities Repurchases of capital stock Proceeds from issuance of debt, net of costs Repayments of debt Proceeds from sale of subsidiary shares (3,304) (3,693) (4.166) (4,846) 4,291 (4,993) (9,075) 6.766 8,729 (10,064) (4,377) 800 (8,298) 405 (2,203) (6,827) 950 Net cash used in financing activities (8.332) (170) (3,631) (13,179) (302) 5,986 Effect of exchange rate changes on cash and cash equivalents Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 16,549 12,918 $ 12,918 10,715 16,701 10,715 S Supplemental disclosures of cash flow information Cash paid for taxes, net of refunds Cash paid for interest, net of amounts capitalized 1,643 $ 84 $ 6,191 S 5,671 84 S 69 See accompanying notes. 50