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: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 12, 2021) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $ 118,503 | 626,698 | (26,704) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 336,381 | 252,114 | 149,604 |
| Amortization of deferred commissions | 217,631 | 168,014 | 143,358 |
| Amortization of debt discount and issuance costs | 24,478 | 33,283 | 52,733 |
| Stock-based compensation | 870,453 | 662,195 | 543,953 |
| Deferred income taxes | (24,481) | (575,765) | (34,180) |
| Repayments of convertible senior notes attributable to debt discount | (81,958) | 0 | (145,349) |
| Loss on extinguishment of debt | 46,611 | 0 | 0 |
| Other | (2,493) | (8,921) | (13,080) |
| Changes in operating assets and liabilities, net of effect of business combinations: | |||
| Accounts receivable | (151,431) | (259,835) | (146,148) |
| Deferred commissions | (365,264) | (255,605) | (239,382) |
| Prepaid expenses and other assets | (54,203) | (29,907) | (19,886) |
| Accounts payable | (33,583) | 21,355 | (4,757) |
| Deferred revenue | 710,998 | 537,249 | 468,856 |
| Accrued expenses and other liabilities | 174,957 | 65,097 | 82,071 |
| Net cash provided by operating activities | 1,786,599 | 1,235,972 | 811,089 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (419,327) | (264,892) | (224,462) |
| Business combinations, net of cash acquired | (107,236) | (7,414) | (37,440) |
| Purchases of intangibles | (13,190) | (72,689) | (24,400) |
| Purchases of investments | (2,933,876) | (1,595,667) | (1,295,782) |
| Sales and maturities of investments | 1,965,429 | 1,192,750 | 1,234,662 |
| Realized gains on derivatives not designated as hedging instruments, net | 1,328 | 23,435 | 0 |
| Net cash used in investing activities | (1,506,872) | (724,477) | (347,422) |
| Cash flows from financing activities: | |||
| Net proceeds from borrowings on 2030 Notes | 1,481,633 | 0 | 0 |
| Repayments of convertible senior notes attributable to principal | (1,627,690) | (9) | (429,645) |
| Net proceeds from unwind of 2022 Note Hedge | 1,105,542 | 0 | 0 |
| Proceeds from employee stock plans | 145,766 | 107,868 | 104,160 |
| Taxes paid related to net share settlement of equity awards | (508,604) | (409,715) | (281,010) |
| Payments on financing obligations | 0 | 0 | (933) |
| Net cash provided by (used in) financing activities | 596,647 | (301,856) | (607,428) |
| Foreign currency effect on cash, cash equivalents and restricted cash | 25,065 | (186) | (15,530) |
| Net increase in cash, cash equivalents and restricted cash | 901,439 | 209,453 | (159,291) |
| Cash, cash equivalents and restricted cash at beginning of period | 777,991 | 568,538 | |
| Cash, cash equivalents and restricted cash at end of period | 1,679,430 | 777,991 | 568,538 |
| Cash, cash equivalents and restricted cash at end of period: | |||
| Cash and cash equivalents | 1,676,794 | 775,778 | 566,204 |
| Current portion of restricted cash included in prepaid expenses and other current assets | 2,636 | 2,213 | 2,334 |
| Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows | 1,679,430 | 777,991 | 568,538 |
| Supplemental disclosures of other cash flow information: | |||
| Income taxes paid, net of refunds | 39,212 | 20,471 | 17,507 |
| Non-cash investing and financing activities: | |||
| Property and equipment included in accounts payable and accrued expenses | 34,839 | 56,966 | 25,767 |
| Purchase of intangible assets included in accrued expenses and other liabilities | 0 | 0 | 8,500 |
| Debt Instrument | |||
| 2022 Notes | |||
| Settlement of 2018 Notes conversion feature | 275,273 | 0 | 0 |
| 2018 Notes | |||
| Settlement of 2018 Notes conversion feature | 0 | 0 | 773,302 |
| Derivative Instrument | |||
| 2022 Note Hedge | |||
| Benefit from exercise of 2018 Note Hedge | 273,442 | 0 | 0 |
| 2018 Note Hedge | |||
| Benefit from exercise of 2018 Note Hedge | 0 | 0 | 766,858 |
| External Links | |
| SERVICENOW, INC. (NOW) Fiscal Year 2020 | |
| 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 |