Netease, inc. (NTES)
CashFlow / Yearly
Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10
Cash flows from operating activities:
Net income

1,667,484

1,698,526

1,055,435

772,927

734,298

575,685

512,079

338,185

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

123,235

47,172

28,165

28,118

26,160

37,481

46,591

35,177

Investment impairment

8,997

40,171

1,858

3,875

-

-

-

-

Impairment loss for license right

-

-

-

-

-

-

7,994

-

Share-based compensation cost

308,050

142,609

105,664

56,293

50,598

32,587

19,389

15,516

Allowance for provision for doubtful accounts

9,349

1,433

624

607

-332

495

66

-3,035

Loss on disposal of property, equipment and software

-780

-184

-911

-243

84

7

12

-2,119

Unrealized exchange (gains)/losses

-67,299

24,001

18,026

-3,024

-2,026

909

-12,117

-15,185

Gain on disposal of long-term investments

1,475

33,710

-

-

-

-

-

-

Deferred income taxes

-67,326

9,603

-22,737

-18,912

23,503

-5,067

-6,743

1,306

Net equity share of losses from associated companies

-1,880

-12,360

-11,753

-7,890

-879

135

-190

166

Fair value changes of short-term investments

-59,910

-43,872

-21,628

-10,355

-

-

-

-

Others

-

-

-

-

-2,041

-3,492

1,999

-

Changes in operating assets and liabilities:
Accounts receivable

-86,874

237,201

269,236

76,456

21,644

11,288

-1,716

13,635

Inventories

598,927

109,515

121,880

-

-

-

-

-

Prepayments and other current assets

17,866

153,248

192,901

47,129

3,623

11,049

13,265

-462

Accounts payable

169,188

87,007

37,534

30,695

11,722

6,929

3,608

-5,690

Salary and welfare payables

107,662

82,164

59,653

25,376

14,416

7,293

9,918

7,952

Taxes payable

-23,962

142,070

62,046

41,877

-52,034

-5,530

5,295

1,908

Deferred revenue

-198,560

414,733

414,334

78,449

53,028

23,426

38,151

28,861

Accrued liabilities and other payables

244,574

154,291

115,294

50,037

23,954

24,641

12,031

8,424

Net cash provided by operating activities

1,827,346

2,230,776

1,246,863

946,559

864,908

678,044

647,126

432,569

Cash flows from investing activities:
Purchase of property, equipment and software

283,254

163,551

133,736

86,609

36,166

28,676

65,162

45,148

Proceeds from sale of property, equipment and software

680

297

199

236

746

125

42

54

Proceeds from disposal of long-term investment

-

35,945

-

-

-

-

-

-

Proceeds from maturities of short-term investments

-

-

-

-

-

179,772

-

-

Long-term investment

-

-

-

-

-

1,270

-

-

Purchase of other intangible assets

-

-

-

-

-

-

166

-

Purchase of held-to-maturity investments

-

-

-

-

-

-

159,047

-

Proceeds from disposals of held-to-maturity investments

-

-

-

-

-

-

3,178

-

Purchase of intangible assets and licensed copyrights of music content

103,715

-

-

-

-

-

6,244

-

Purchase of other intangible assets

-

639

54

2,258

149

5

-

-

Purchase of land use right

997

9

25,317

10,792

-

-

-

-

Net change of short-term investments with terms of three months or less

-137,605

-533,535

-35,707

39,875

-79,289

-19,261

-

-

Purchase of short-term investments

1,919,832

1,791,589

877,922

380,060

66,075

176,834

-

-

Proceeds from maturities of short-term investments

2,400,065

1,422,918

479,092

164,007

171,796

-

-

-

Investment in an associated company

36,237

52,497

28,950

3,223

33,038

-

-

-

Acquisitions of other long-term investments

138,437

26,086

181,995

-

-

-

-

-

Proceeds from disposal of investment in associated company and long-term investments

53,858

-

-

-

-

-

-

-

Transfer to restricted cash

60,560

308,285

117,863

79,320

258,725

40,420

28,295

2,536

Net change in time deposits with terms of three months

-

-

-

-

-

142,751

-50,674

-51,298

Placement/rollover of matured time deposits

5,223,268

2,933,520

2,935,846

3,538,506

3,602,362

2,631,361

1,725,719

1,576,185

Proceeds from maturity of time deposits

3,447,366

2,358,844

3,486,134

3,208,104

3,011,678

1,866,197

1,525,043

1,279,364

Change in other assets

34,446

24,975

19,608

39,972

9,233

5,940

2,693

1,397

Net cash used in investing activities

-2,036,382

-2,016,682

-391,573

-728,518

-900,817

-714,922

-509,737

-397,146

Proceeds of short-term bank loans

9,426,742

1,635,441

899,805

329,863

166,127

-

-

-

Payment of short-term bank loans

8,949,516

1,420,151

886,353

157,223

-

-

-

-

Proceeds from exercise of employees' stock options

-

-

-

470

409

3,967

11,652

3,656

Dividends paid to shareholders

500,685

366,724

226,615

319,603

134,697

-

-

-

Capital (repurchase of)/injection from redeemable noncontrolling interests shareholders

92,218

-

-20,800

-

-

-

-

-

Capital contribution from mezzanine classified noncontrolling interests shareholders

-

-

-

21,011

-

-

-

-

Capital injection from noncontrolling interest shareholders

47,877

1

2,318

20

151

-

36

2

Payments of other long-term payable

-

-

-

-

-

-

-3

-

Repurchase of shares

316,862

172,707

20,407

-

17,644

66,603

-

-

Net cash used in financing activities

-200,226

-324,140

-252,052

-125,462

14,346

-62,636

11,685

3,658

Effect of exchange rate changes on cash held in foreign currencies

-1,933

19,021

21,979

-1,815

-319

-621

-1,395

-2,134

Net increase/(decrease) in cash and cash equivalents

-411,195

-91,025

625,217

90,764

-21,882

-100,135

147,679

36,947

Supplemental disclosures of cash flow information:
Cash paid for income taxes, net of tax refund

416,961

158,027

173,568

88,854

113,559

104,109

58,984

38,188

Supplemental schedule of non-cash investing and financing activities:
Withholding income tax paid associated with the repatriation of cash for a special dividend

-

-

-

-

-

5,618

-

-

Share repurchase financed by accounts payable

-

-

-

-

-

1,211

-

-

Fixed asset purchases financed by accounts payable

45,063

37,488

33,395

12,986

1,664

1,160

5,976

22,200