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: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Jan 31, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash flows from operating activities: | |||
| Net income | $ 325 | 230 | 119 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 433 | 472 | 336 |
| Amortization of deferred commissions | 358 | 294 | 218 |
| Amortization of debt discount and issuance costs | 0 | 7 | 24 |
| Stock-based compensation | 1,401 | 1,131 | 870 |
| Deferred income taxes | 15 | (34) | (24) |
| Repayments of convertible senior notes attributable to debt discount | 0 | (15) | (82) |
| Loss on extinguishment of 2022 Notes | 0 | 3 | 47 |
| Other | 17 | 45 | (2) |
| Changes in operating assets and liabilities, net of effect of business combinations: | |||
| Accounts receivable | (340) | (401) | (152) |
| Deferred commissions | (566) | (565) | (365) |
| Prepaid expenses and other assets | (39) | (93) | (55) |
| Accounts payable | 172 | 55 | (34) |
| Deferred revenue | 904 | 960 | 711 |
| Accrued expenses and other liabilities | 43 | 102 | 175 |
| Net cash provided by operating activities | 2,723 | 2,191 | 1,786 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (550) | (392) | (419) |
| Business combinations, net of cash acquired | (91) | (785) | (107) |
| Purchases of intangibles | 0 | (7) | (13) |
| Purchases of investments | (4,038) | (2,485) | (2,922) |
| Purchases of non-marketable investments | (167) | (71) | (12) |
| Sales and maturities of investments | 2,245 | 2,119 | 1,965 |
| Other | 18 | 14 | 1 |
| Net cash used in investing activities | (2,583) | (1,607) | (1,507) |
| Cash flows from financing activities: | |||
| Net proceeds from borrowings on 2030 Notes | 0 | 0 | 1,482 |
| Repayments of convertible senior notes attributable to principal | (94) | (61) | (1,628) |
| Net proceeds from unwind of 2022 Note Hedge | 0 | 0 | 1,106 |
| Proceeds from employee stock plans | 177 | 167 | 146 |
| Taxes paid related to net share settlement of equity awards | (427) | (612) | (509) |
| Net cash provided by (used in) financing activities | (344) | (506) | 597 |
| Foreign currency effect on cash, cash equivalents and restricted cash | (53) | (25) | 25 |
| Net change in cash, cash equivalents and restricted cash | (257) | 53 | 901 |
| Cash, cash equivalents and restricted cash at beginning of period | 1,732 | 1,679 | |
| Cash, cash equivalents and restricted cash at end of period | 1,475 | 1,732 | 1,679 |
| Cash, cash equivalents and restricted cash at end of period: | |||
| Cash and cash equivalents | 1,470 | 1,728 | 1,677 |
| Restricted cash included in prepaid expenses and other current assets | 5 | 4 | 2 |
| Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows | 1,475 | 1,732 | 1,679 |
| Supplemental disclosures of other cash flow information: | |||
| Interest paid | 24 | 41 | 0 |
| Income taxes paid, net of refunds | 45 | 36 | 39 |
| Non-cash investing and financing activities: | |||
| Settlement of 2022 Notes conversion feature | 233 | 225 | 275 |
| Benefit from exercise of 2022 Note Hedge | 233 | 224 | 273 |
| Property and equipment included in accounts payable, accrued expenses and other liabilities | 74 | 63 | 35 |
| External Links | |
| SERVICENOW, INC. (NOW) Fiscal Year 2022 | |
| 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 |