10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SERVICENOW, INC. | |||
Ticker: NOW Fiscal Year: 2018 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 27, 2019) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Cash flows from operating activities: | |||
| Net loss | $ (26,704) | (116,846) | (414,249) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 149,604 | 113,875 | 83,082 |
| Amortization of deferred commissions | 143,358 | 99,105 | 69,565 |
| Amortization of debt discount and issuance costs | 52,733 | 53,394 | 33,278 |
| Stock-based compensation | 543,953 | 394,004 | 317,654 |
| Deferred income tax | (34,180) | (5,724) | (658) |
| Gain on marketable equity securities | (19,257) | 0 | 0 |
| Repayments of convertible senior notes attributable to debt discount | (145,349) | 0 | 0 |
| Other | 6,177 | (905) | 3,764 |
| Changes in operating assets and liabilities, net of effect of business combinations: | |||
| Accounts receivable | (146,148) | (99,693) | (126,415) |
| Deferred commissions | (239,382) | (190,246) | (151,921) |
| Prepaid expenses and other assets | (19,886) | (34,288) | (24,164) |
| Accounts payable | (4,757) | (5,504) | (3,554) |
| Deferred revenue | 468,856 | 369,242 | 285,139 |
| Accrued expenses and other liabilities | 82,071 | 66,526 | 87,560 |
| Net cash provided by operating activities | 811,089 | 642,940 | 159,081 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (224,462) | (150,510) | (105,562) |
| Business combinations, net of cash and restricted cash acquired | (37,440) | (58,203) [1] | (34,297) |
| Purchases of other intangibles | (24,400) | (6,670) | (18,750) |
| Purchases of investments | (1,285,943) | (1,189,511) | (518,664) |
| Purchases of strategic investments | (9,839) | (4,750) | (500) |
| Sales of investments | 39,975 | 85,106 | 297,998 |
| Maturities of investments | 1,194,687 | 440,590 | 271,537 |
| Net cash used in investing activities | (347,422) | (883,948) | (108,238) |
| Cash flows from financing activities: | |||
| Net proceeds from borrowings on convertible senior notes | 0 | 772,127 | 0 |
| Repayments of convertible senior notes attributable to principal | (429,645) | (4) | 0 |
| Proceeds from issuance of warrants | 0 | 54,071 | 0 |
| Purchases of convertible note hedges | 0 | (128,017) | 0 |
| Repurchases and retirement of common stock | 0 | (55,000) | 0 |
| Proceeds from employee stock plans | 104,160 | 82,567 | 66,378 |
| Taxes paid related to net share settlement of equity awards | (281,010) | (181,938) | (119,907) |
| Payments on financing obligations | (933) | (4,914) | (2,223) |
| Net cash (used in) provided by financing activities | (607,428) | 538,892 | (55,752) |
| Foreign currency effect on cash, cash equivalents and restricted cash | (15,530) | 28,013 | (5,945) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (159,291) | 325,897 | (10,854) |
| Cash, cash equivalents and restricted cash at beginning of period | 727,829 | 401,932 | |
| Cash, cash equivalents and restricted cash at end of period | 568,538 | 727,829 | 401,932 |
| Cash, cash equivalents and restricted cash at end of period: | |||
| Cash and cash equivalents | 566,204 | 726,495 | 401,238 |
| Current portion of restricted cash included in prepaid expenses and other current assets | 2,334 | 1,301 | 694 |
| Non-current portion of restricted cash included in other assets | 0 | 33 | 0 |
| Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows | 568,538 | 727,829 | 401,932 |
| Supplemental disclosures of other cash flow information: | |||
| Income taxes paid, net of refunds | 17,507 | 7,899 | 4,338 |
| Non-cash investing and financing activities: | |||
| Settlement of 2018 Notes conversion feature | 773,302 | 0 | 0 |
| Benefit from exercise of 2018 Note Hedge | 766,858 | 0 | 0 |
| Property and equipment included in accounts payable and accrued expenses | 25,767 | 15,007 | 15,381 |
| Purchases of intangible assets included in accrued expenses and other liabilities | 8,500 | 6,750 | 6,210 |
| [1] As adjusted to reflect the impact of the full retrospective adoption of Topic 606. | |||
| External Links | |
| SERVICENOW, INC. (NOW) Fiscal Year 2018 | |
| 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 |