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$11B in Liquid Assets and Growing



Google filed a 10-K this week (thanks Gary) and there were a few tidbits in there. If you’re a Google geek, it’s worth a read.

Google had more than 10,00 employees at the end of 2006, for example, and spent nearly $2B in capex in 06. Advertising is 99% of all revenues for three straight years. The UK is 15% of Google’s revenues. The US has declined from 66% to 57% in three years. TAC (traffic acquisition costs) are blended into overall revenues so it’s more difficult to figure the TAC percentage as a portion of Adsense, (a bit of other stuff may be in that figure), but if you take TAC as all Adsense related, you come up with $3.3B paid out, on $4.16B in Adsense (Google Network) revenues, or 79%, which is consistent with previous numbers.

Astonishingly, cost of sales is 8 percent. Very low and very efficient. Contractual obligations to publishing partners came in at $1.17B.

The YouTube acquisition is detailed, technology from that was valued at just $24mm. Goodwill (if ever there was an irony…) is the majority of the price. There’s $45mm in liabilities assumed…

dMarc and other was also listed. Not sure how the “others” was factored in, but again, the majority was “goodwill.” Again, it was an on the come play…

I am sure I’ve missed tons of stuff in here, but that’s why the link is there.

The headline, which I’ve buried: Google is sitting on more than $11B in cash and liquid instruments as of the end of 2006.

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