10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PAYPAL HOLDINGS, INC. | |||
Ticker: PYPL Fiscal Year: 2016 | |||
CONSOLIDATED STATEMENTS OF INCOME | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 8, 2017) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net revenues | $ 10,842 | 9,248 | 8,025 |
| Operating expenses: | |||
| Transaction expense | 3,346 | 2,610 | 2,170 |
| Transaction and loan losses | 1,088 | 809 | 646 |
| Customer support and operations | 1,267 | 1,110 | 991 |
| Sales and marketing | 969 | 937 | 954 |
| Product development | 834 | 792 | 747 |
| General and administrative | 1,028 | 873 | 733 |
| Depreciation and amortization | 724 | 608 | 516 |
| Restructuring | 0 | 48 | 0 |
| Total operating expenses | 9,256 | 7,787 | 6,757 |
| Operating income | 1,586 | 1,461 | 1,268 |
| Other income (expense), net | 45 | 27 | (7) |
| Income before income taxes | 1,631 | 1,488 | 1,261 |
| Income tax expense | 230 | 260 | 842 |
| Net income | 1,401 | 1,228 | 419 |
| Net income per share: | |||
| Basic (in usd per share) | 1.16 | 1.00 | 0.34 |
| Diluted (in usd per share) | 1.15 | 1.00 | 0.34 |
| Weighted average shares: | |||
| Basic (in shares) | 1,210 | 1,222 | 1,218 |
| Diluted (in shares) | 1,218 | 1,229 | 1,224 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PAYPAL HOLDINGS, INC. | |||
Ticker: PYPL Fiscal Year: 2016 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 8, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net income | $ 1,401 | 1,228 | 419 |
| Other comprehensive income (loss), net of reclassification adjustments: | |||
| Foreign currency translation | (15) | (37) | (42) |
| Unrealized gains (losses) on investments, net | 11 | (16) | 0 |
| Tax (expense) benefit on unrealized gains/losses on investments, net | (1) | 3 | 0 |
| Change in unrealized gains/losses on hedging activities, net | 74 | (69) | 217 |
| Tax (expense) benefit on unrealized gains/losses on hedging activities, net | (1) | 0 | (4) |
| Other comprehensive (loss) income, net of tax | 68 | (119) | 171 |
| Comprehensive income | 1,469 | 1,109 | 590 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PAYPAL HOLDINGS, INC. | |||
Ticker: PYPL Fiscal Year: 2016 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 8, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Cash flows from operating activities: | |||
| Net income | $ 1,401 | 1,228 | 419 |
| Adjustments: | |||
| Transaction and loan losses | 1,088 | 809 | 646 |
| Depreciation and amortization | 724 | 608 | 516 |
| Stock-based compensation | 438 | 346 | 299 |
| Deferred income taxes | 52 | 127 | 680 |
| Excess tax benefits from stock-based compensation | (40) | (26) | (41) |
| Gain on sale of principal loans receivable held for sale, net | (24) | (40) | 0 |
| Changes in assets and liabilities: | |||
| Accounts receivable | (77) | (22) | (13) |
| Receivable from eBay | 0 | 121 | (24) |
| Principal loans receivable held for sale, net | 24 | 14 | 0 |
| Transaction loss allowance for cash losses, net | (643) | (493) | (414) |
| Other current assets and non-current assets | (145) | (384) | (38) |
| Accounts payable | 11 | 12 | 42 |
| Payable to eBay | 0 | (217) | (2) |
| Income taxes payable | 69 | 40 | 37 |
| Other current liabilities and non-current liabilities | 280 | 423 | 113 |
| Net cash provided by operating activities | 3,158 | 2,546 | 2,220 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (669) | (722) | (492) |
| Proceeds from sales of property and equipment | 0 | 26 | 0 |
| Changes in principal loans receivable, net | (1,523) | (819) | (1,023) |
| Purchases of investments | (21,041) | (21,626) | (8,744) |
| Maturities and sales of investments | 18,429 | 16,148 | 7,766 |
| Acquisitions, net of cash acquired | (19) | (1,225) | (2) |
| Funds receivable and customer accounts | (176) | (395) | (24) |
| Notes payable and receivable from eBay | 0 | 575 | (362) |
| Net cash used in investing activities | (4,999) | (8,038) | (2,881) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of common stock | 109 | 75 | 0 |
| Purchases of treasury stock | (995) | 0 | 0 |
| Excess tax benefits from stock-based compensation | 40 | 26 | 41 |
| Contribution from (to) eBay | 0 | 3,858 | (71) |
| Tax withholdings related to net share settlements of restricted stock units and restricted stock awards | (118) | (18) | 0 |
| Borrowings (repayments) under financing arrangements | (21) | (862) | (21) |
| Funds payable and amounts due to customers | 3,023 | 1,649 | 1,335 |
| Net cash provided by financing activities | 2,038 | 4,728 | 1,284 |
| Effect of exchange rate changes on cash and cash equivalents | 0 | (44) | (26) |
| Net increase (decrease) in cash and cash equivalents | 197 | (808) | 597 |
| Cash and cash equivalents at beginning of period | 1,393 | 2,201 | |
| Cash and cash equivalents at end of period | 1,590 | 1,393 | 2,201 |
| Supplemental cash flow disclosures: | |||
| Cash paid for interest | 4 | 16 | 19 |
| Cash paid for income taxes | 48 | 216 | 47 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
PAYPAL HOLDINGS, INC. | ||
Ticker: PYPL Fiscal Year: 2016 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 8, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,590 | 1,393 |
| Short-term investments | 3,385 | 2,018 |
| Accounts receivable, net | 214 | 137 |
| Loans and interest receivable, net of allowances of $339 in 2016 and $233 in 2015 | 5,348 | 4,184 |
| Funds receivable and customer accounts | 14,363 | 12,261 |
| Prepaid expenses and other current assets | 833 | 655 |
| Total current assets | 25,733 | 20,648 |
| Long-term investments | 1,539 | 2,348 |
| Property and equipment, net | 1,482 | 1,344 |
| Goodwill | 4,059 | 4,069 |
| Intangible assets, net | 211 | 358 |
| Other assets | 79 | 114 |
| Total assets | 33,103 | 28,881 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 192 | 145 |
| Funds payable and amounts due to customers | 15,163 | 12,261 |
| Accrued expenses and other current liabilities | 1,459 | 1,179 |
| Income taxes payable | 64 | 32 |
| Total current liabilities | 16,878 | 13,617 |
| Deferred tax liability and other long-term liabilities | 1,513 | 1,505 |
| Total liabilities | 18,391 | 15,122 |
| Commitments and contingencies (Note 12) | ||
| Equity: | ||
| Common stock, $0.0001 par value; 4,000 shares authorized; 1,207 and 1,224 outstanding | 0 | 0 |
| Treasury stock at cost, 27 shares as of December 31, 2016 | (995) | 0 |
| Additional paid-in-capital | 13,579 | 13,100 |
| Retained earnings | 2,069 | 668 |
| Accumulated other comprehensive income (loss) | 59 | (9) |
| Total equity | 14,712 | 13,759 |
| Total liabilities and equity | 33,103 | 28,881 |
| External Links | |
| PAYPAL HOLDINGS, INC. (PYPL) Fiscal Year 2016 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |