Google Company Analysis
Prepared by Matt Decuir
Exhibit 5 – Historical Balance Sheet
| Annual Balance Sheet ($ in millions) | 2002 | 2003 | 2004 | 2005 | 2006 |
| Assets | |||||
| Cash & Equivelants | $146 | $149 | $427 | $3,877 | $3,545 |
| Short Term Investments | $0 | $186 | $1,705 | $4,157 | $7,699 |
| Receivables | 62 | 155 | 312 | 688 | 1,322 |
| Inventories | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 23 | 71 | 249 | 279 | 474 |
| Total Current Assets | $232 | $560 | $2,693 | $9,001 | $13,040 |
| Net Property & Equipment | 54 | 188 | 379 | 962 | 2,395 |
| Investments & Advances | 0 | 0 | 0 | 0 | 1,032 |
| Deferred Charges | 0 | 0 | 12 | 0 | 0 |
| Intangibles | 0 | 106 | 194 | 278 | 1,892 |
| Deposits & Other Assets | 1 | 17 | 35 | 31 | 114 |
| Total Assets | $287 | $871 | $3,313 | $10,272 | $18,473 |
| Liabilities & Shareholder's Equity | |||||
| Notes Payable | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | 9 | 46 | 33 | 116 | 211 |
| Current Portion Long-Term Debt | 0 | 0 | 0 | 0 | 0 |
| Current Portion Capital Leases | 4 | 5 | 0 | 0 | 0 |
| Accrued Expenses | 38 | 149 | 269 | 529 | 988 |
| Income Taxes Payable | 26 | 21 | 0 | 28 | 0 |
| Other Current Liabilities | 11 | 15 | 38 | 73 | 105 |
| Total Current Liabilities | $90 | $235 | $340 | $745 | $1,305 |
| Deferred Taxes/Income | 2 | 24 | 7 | 46 | 60 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 |
| Non-Current Capital Leases | 7 | 2 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1 | 8 | 36 | 62 | 68 |
| Total Liabilities | $99 | $269 | $384 | $853 | $1,434 |
| Shareholder's Equity | |||||
| Preferred Stock | 58 | 58 | 0 | 0 | 0 |
| Common Stock (Par) | 0.14 | 0.16 | 0.26 | 0.29 | 0.30 |
| Capital Surplus | 83 | 725 | 2,582 | 7,478 | 11,883 |
| Retained Earnings | 86 | 191 | 590 | 2,056 | 5,133 |
| Other Equity | -40 | -372 | -244 | -115 | 23 |
| Total Shareholder's Equity | $188 | $603 | $2,929 | $9,419 | $17,040 |
| Total Liabilities & Shareholder's Equity | $287 | $871 | $3,313 | $10,272 | $18,473 |
| Total Common Equity | 130 | 544 | 2,929 | 9,419 | 17,040 |
| Shares Outstanding (in millions) | 0 | 0 | 277.35 | 295.55 | 309.00 |
| Book Value Per Share (not in millions) | 0 | 0 | 10.56 | 31.87 | 55.15 |