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: 2017 | |||
CONSOLIDATED STATEMENTS OF INCOME | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 7, 2018) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net revenues | $ 13,094 | 10,842 | 9,248 |
| Operating expenses: | |||
| Transaction expense | 4,419 | 3,346 | 2,610 |
| Transaction and loan losses | 1,011 | 1,088 | 809 |
| Customer support and operations | 1,364 | 1,267 | 1,110 |
| Sales and marketing | 1,128 | 969 | 937 |
| Product development | 953 | 834 | 792 |
| General and administrative | 1,155 | 1,028 | 873 |
| Depreciation and amortization | 805 | 724 | 608 |
| Restructuring and other charges | 132 | 0 | 48 |
| Total operating expenses | 10,967 | 9,256 | 7,787 |
| Operating income | 2,127 | 1,586 | 1,461 |
| Other income (expense), net | 73 | 45 | 27 |
| Income before income taxes | 2,200 | 1,631 | 1,488 |
| Income tax expense | 405 | 230 | 260 |
| Net income | 1,795 | 1,401 | 1,228 |
| Net income per share: | |||
| Basic (in usd per share) | 1.49 | 1.16 | 1.00 |
| Diluted (in usd per share) | 1.47 | 1.15 | 1.00 |
| Weighted average shares: | |||
| Basic (in shares) | 1,203 | 1,210 | 1,222 |
| Diluted (in shares) | 1,221 | 1,218 | 1,229 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PAYPAL HOLDINGS, INC. | |||
Ticker: PYPL Fiscal Year: 2017 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 7, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net income | $ 1,795 | 1,401 | 1,228 |
| Other comprehensive income (loss), net of reclassification adjustments: | |||
| Foreign currency translation | 43 | (15) | (37) |
| Unrealized (losses) gains on investments, net | (7) | 11 | (16) |
| Tax benefit (expense) on unrealized gains/losses on investments, net | 1 | (1) | 3 |
| Change in unrealized gains/losses on hedging activities, net | (242) | 74 | (69) |
| Tax benefit (expense) on unrealized gains/losses on hedging activities, net | 4 | (1) | 0 |
| Other comprehensive (loss) income, net of tax | (201) | 68 | (119) |
| Comprehensive income | 1,594 | 1,469 | 1,109 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PAYPAL HOLDINGS, INC. | |||
Ticker: PYPL Fiscal Year: 2017 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 7, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Cash flows from operating activities: | |||
| Net income | $ 1,795 | 1,401 | 1,228 |
| Adjustments: | |||
| Transaction and loan losses | 1,011 | 1,088 | 809 |
| Depreciation and amortization | 805 | 724 | 608 |
| Stock-based compensation | 733 | 438 | 346 |
| Deferred income taxes | (1,299) | 52 | 127 |
| Excess tax benefits from stock-based compensation | 0 | (40) | (26) |
| Gain on sale of principal loans receivable held for sale, net | (25) | (24) | (40) |
| Cost basis adjustments to loans and interest receivable held for sale | 92 | 0 | 0 |
| Changes in assets and liabilities: | |||
| Accounts receivable | 12 | (77) | (22) |
| Receivable from eBay | 0 | 0 | 121 |
| Changes in loans and interest receivable held for sale, net | (1,308) | 24 | 14 |
| Transaction loss allowance for cash losses, net | (817) | (643) | (493) |
| Other current assets and non-current assets | (188) | (145) | (384) |
| Accounts payable | 62 | 11 | 12 |
| Payable to eBay | 0 | 0 | (217) |
| Income taxes payable | 19 | 69 | 40 |
| Other current liabilities and non-current liabilities | 1,639 | 280 | 423 |
| Net cash provided by operating activities | 2,531 | 3,158 | 2,546 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (667) | (669) | (722) |
| Proceeds from sales of property and equipment | 0 | 0 | 26 |
| Changes in principal loans receivable, net | (920) | (1,523) | (819) |
| Purchases of investments | (19,418) | (21,041) | (21,626) |
| Maturities and sales of investments | 18,450 | 18,429 | 16,148 |
| Acquisitions, net of cash acquired | (323) | (19) | (1,225) |
| Funds receivable and customer accounts | (2,480) | (176) | (395) |
| Notes payable and receivable from eBay | 0 | 0 | 575 |
| Net cash used in investing activities | (5,358) | (4,999) | (8,038) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of common stock | 144 | 109 | 75 |
| Purchases of treasury stock | (1,006) | (995) | 0 |
| Excess tax benefits from stock-based compensation | 0 | 40 | 26 |
| Contribution from eBay | 0 | 0 | 3,858 |
| Tax withholdings related to net share settlements of restricted stock units and restricted stock awards | (166) | (118) | (18) |
| Borrowings under financing arrangements, net of repayments | 820 | (21) | (862) |
| Funds payable and amounts due to customers | 4,292 | 3,023 | 1,649 |
| Net cash provided by financing activities | 4,084 | 2,038 | 4,728 |
| Effect of exchange rate changes on cash and cash equivalents | 36 | 0 | (44) |
| Net increase (decrease) in cash and cash equivalents | 1,293 | 197 | (808) |
| Cash and cash equivalents at beginning of period | 1,590 | 1,393 | |
| Cash and cash equivalents at end of period | 2,883 | 1,590 | 1,393 |
| Supplemental cash flow disclosures: | |||
| Cash paid for interest | 6 | 4 | 16 |
| Cash paid for income taxes | 117 | 48 | 216 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
PAYPAL HOLDINGS, INC. | ||
Ticker: PYPL Fiscal Year: 2017 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 7, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,883 | 1,590 |
| Short-term investments | 2,812 | 3,385 |
| Accounts receivable, net | 283 | 214 |
| Loans and interest receivable, net of allowances of $129 in 2017 and $339 in 2016 | 1,314 | 5,348 |
| Loans and interest receivable, held for sale | 6,398 | 0 |
| Funds receivable and customer accounts | 18,242 | 14,363 |
| Prepaid expenses and other current assets | 713 | 833 |
| Total current assets | 32,645 | 25,733 |
| Long-term investments | 1,961 | 1,539 |
| Property and equipment, net | 1,528 | 1,482 |
| Goodwill | 4,339 | 4,059 |
| Intangible assets, net | 168 | 211 |
| Other assets | 133 | 79 |
| Total assets | 40,774 | 33,103 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 257 | 192 |
| Notes payable | 1,000 | 0 |
| Funds payable and amounts due to customers | 19,742 | 15,163 |
| Accrued expenses and other current liabilities | 1,781 | 1,459 |
| Income taxes payable | 83 | 64 |
| Total current liabilities | 22,863 | 16,878 |
| Deferred tax liability and other long-term liabilities | 1,917 | 1,513 |
| Total liabilities | 24,780 | 18,391 |
| Commitments and contingencies (Note 13) | ||
| Equity: | ||
| Common stock, $0.0001 par value; 4,000 shares authorized; 1,200 and 1,207 shares outstanding as of December 31, 2017 and 2016, respectively | 0 | 0 |
| Treasury stock at cost, 47 and 27 shares as of December 31, 2017 and 2016, respectively | (2,001) | (995) |
| Additional paid-in-capital | 14,314 | 13,579 |
| Retained earnings | 3,823 | 2,069 |
| Accumulated other comprehensive income (loss) | (142) | 59 |
| Total equity | 15,994 | 14,712 |
| Total liabilities and equity | 40,774 | 33,103 |
| External Links | |
| PAYPAL HOLDINGS, INC. (PYPL) Fiscal Year 2017 | |
| 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 |