CONSOLIDATED STATEMENTS OF CASH FLOWS
	Year Ended December 31,
	2014		2015		2016
CASH AND CASH EQUIVALENTS, BEGINNING OF	$8,658		$14,557		$15,890
PERIOD
OPERATING ACTIVITIES:
Net income (loss)	(241)		596		2,371
Adjustments to reconcile net income (loss)
to net cash from operating activities:
Depreciation of property and equipment,	4,746		6,281		8,116
including internal-use software and website
development, and other amortization,
including capitalized content costs
Stock-based compensation	1,497		2,119		2,975
Other operating expense, net	129		155		160
Other expense (income), net	59		250		(20)
Deferred income taxes	(316)		81		(246)
Excess tax benefits from stock-based compensation	(6)		(119)		(829)
Changes in operating assets and liabilities:
Inventories	(1,193)		(2,187)		(1,426)
Accounts receivable, net and other	(1,039)		(1,755)		(3,367)
Accounts payable	1,759		4,294		5,030
Accrued expenses and other	706		913		1,724
Additions to unearned revenue	4,433		7,401		11,931
Amortization of previously unearned revenue	(3,692)		(6,109)		(9,976)
Net cash provided by (used in) operating	6,842		11,920		16,443
activities
INVESTING ACTIVITIES:
Purchases of property and equipment, including	(4,893)		(4,589)		(6,737)
internal-use software and website development,
net
Acquisitions, net of cash acquired, and	(979)		(795)		(116)
other
Sales and maturities of marketable securities	3,349		3,025		4,733
Purchases of marketable securities	(2,542)		(4,091)		(7,756)
Net cash provided by (used in) investing	(5,065)		(6,450)		(9,876)
activities
FINANCING ACTIVITIES:
Excess tax benefits from stock-based compensation	6		119		829
Proceeds from long-term debt and other	6,359		353		621
Repayments of long-term debt and other	(513)		(1,652)		(354)
Principal repayments of capital lease	(1,285)		(2,462)		(3,860)
obligations
Principal repayments of finance lease	(135)		(121)		(147)
obligations
Net cash provided by (used in) financing	4,432		(3,763)		(2,911)
activities
Foreign currency effect on cash and cash	(310)		(374)		(212)
equivalents
Net increase (decrease) in cash and cash	5,899		1,333		3,444
equivalents
CASH AND CASH EQUIVALENTS, END OF PERIOD	$14,557		$15,890		$19,334
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on long-term debt	$91		$325		$290
Cash paid for interest on capital and finance	86		153		206
lease obligations
Cash paid for income taxes, net of refunds	177		273		412
Property and equipment acquired under	4,008		4,717		5,704
capital leases
Property and equipment acquired under	920		544		1,209
build-to-suit leases

Statement of Cash Flows

1. Calculate Cash Flow on Total Assets for 2016. Explain the ratio you have calculated. What does the ratio mean?

2. Name the major uses and sources of cash under the Investing Activities section of the Statement of Cash Flows for each of the year noted.

3. Name the major uses and sources of cash under the Financing Activities section of the Statement of Cash Flows for each of the year noted.

Overall Conclusion

1. After your analysis, is this a company you would want to invest in? Why or why not?

Format as Table Font Alignment Number Cells Editing Paste Cell Styles Styles F71 Year Ended December 31 2014 2015 2016 9 CASH AND CASH EQUIVALENTS, BEGINNING OF 10 PERIOD 8,658 $14, 557 OPERATING ACTIVITIES 12 Net incone (loss) 13 Adjustments to reconcile net income (loss) 4 to net cash from operating activities: S Depreciation of property and equipment 16 including internal-use software and website development, and other amortization, 18 including capitalized content costs 19 Stock-based compensation 20 Other operating expense, net 21 Other expense (income), net 22 Deferred income taxes 23 Excess tax benefits from stock-based compensation 24 Changes in operating assets and liabilities 25 Inventories 26 Accounts receivable, net and other 27 Accounts payable 28 Accrued expenses and other 29 Additions to unearned revenue 30 Amortization of previously unearned revenue 2,975 (316) (1,039