| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||
Net income | |||||||||
349,563 | 277,308 | 35,723 | 161,771 | 43,830 | 31,855 | -302,418 | -19,339 | 412,305 | 81,167 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Depreciation of property and equipment | |||||||||
28,642 | 26,560 | 33,218 | 41,906 | 34,433 | 29,548 | 20,968 | 13,609 | 15,272 | 16,002 |
Amortization of intangible assets | |||||||||
4,560 | 1,908 | 3,564 | 3,364 | 604 | 144 | 731 | 3,335 | - | - |
Amortization of convertible debt issuance cost ( Note 18 ) | |||||||||
690 | 4,266 | 4,393 | 5,592 | 699 | - | - | - | - | - |
Amortization of intangible assets | |||||||||
- | - | - | - | - | - | - | - | 4,403 | 1,603 |
Stock-based compensation | |||||||||
91,387 | 73,828 | 56,139 | 32,493 | 19,964 | 19,358 | 16,607 | 13,402 | 33,363 | 14,309 |
Provision for allowance for doubtful accounts | |||||||||
8,465 | 14,621 | 14,933 | 21,574 | 10,385 | 3,869 | 2,530 | 1,239 | 5,269 | 3,528 |
Deferred tax benefits | |||||||||
-3,214 | -5,470 | -3,528 | -1,228 | 1,782 | -3,515 | -929 | -706 | 1,230 | -56 |
Loss (Income) from equity method investments, net | |||||||||
-16,070 | -11,766 | 218 | 19,471 | 9,525 | -10,730 | 1,466 | 12,604 | - | - |
Dividends received from equity method investments | |||||||||
7,680 | 3,103 | 16,667 | - | - | - | - | - | - | - |
Realized gain on investments | |||||||||
132,007 | 289,693 | 19,790 | 226,526 | -7,387 | 55,563 | - | - | - | - |
Investment related impairment | |||||||||
122,970 | 44,433 | 8,479 | 19,593 | 6,134 | 18,498 | - | - | - | - |
Goodwill and acquired intangibles impairment (Note 6) | |||||||||
- | 40,194 | - | 14,526 | - | - | - | - | - | - |
Investment impairment (Note 4) | |||||||||
- | - | - | - | - | - | 281,548 | 128,554 | 375,055 | - |
Goodwill impairment | |||||||||
- | - | - | - | - | - | 68,891 | - | - | - |
Foreign exchange loss | |||||||||
- | - | -2,191 | -4,922 | -96 | 14 | 2,979 | - | -1,964 | - |
Impairment in equity investment or (gain on sale of business) | |||||||||
- | - | - | - | - | - | - | - | - | 2,358 |
Realized (unrealized) foreign exchange gains from liquidated subsidiaries | |||||||||
- | - | - | - | - | - | - | - | - | 1,964 |
Loss (Gain) on disposal of property and equipment | |||||||||
178 | -57 | -223 | -70 | 41 | 254 | 64 | 47 | -53 | -53 |
Change in fair value of option liability (Note 4) | |||||||||
- | -28,456 | - | -46,972 | 21,064 | - | - | - | - | - |
Changes in assets and liabilities, net of acquisitions: | |||||||||
Accounts receivable | |||||||||
61,339 | 12,601 | -5,012 | 87,121 | 61,787 | 26,222 | 19,819 | 13,390 | 1,746 | 21,903 |
Prepaid expenses and other current assets | |||||||||
15,578 | 18,160 | 13,296 | -540 | -9,593 | 6,940 | 7,600 | -442 | 5,565 | -65 |
Other assets | |||||||||
1,008 | -2,554 | -3,496 | 4,950 | 4,380 | -3,555 | 6,348 | -3,211 | 3,240 | -24 |
Accounts payable | |||||||||
15,963 | 14,329 | 5,225 | 10,213 | 42 | 32 | -109 | -128 | -76 | 62 |
Amount due to customers | |||||||||
-25,155 | 100,654 | 98,226 | 37,959 | 4,467 | - | - | - | - | - |
Accrued expenses and other current liabilities | |||||||||
113,983 | 90,075 | 57,430 | 43,764 | - | - | - | - | - | - |
Accrued liabilities | |||||||||
- | - | - | - | 30,771 | 25,223 | 36,786 | 11,768 | 16,493 | 14,646 |
Income taxes payable | |||||||||
58,825 | 24,913 | -949 | -3,279 | 7,686 | -1,290 | -2,990 | 2,024 | -2,751 | 8,614 |
Deferred revenues | |||||||||
15,973 | 10,557 | 20,758 | -1,659 | -7,449 | -16,400 | -16,815 | -14,775 | -3,833 | 208 |
Others | |||||||||
-2 | -9 | 242 | - | 86 | - | - | - | - | - |
Net cash provided by operating activities | |||||||||
596,290 | 443,649 | 328,138 | 101,025 | 73,713 | 32,614 | 66,524 | 116,595 | 98,086 | 114,000 |
Cash flows from investing activities: | |||||||||
Purchases of short-term investments | |||||||||
2,140,946 | 1,116,340 | 1,933,878 | 1,555,243 | 1,661,286 | 1,219,910 | 631,718 | 558,165 | 45,692 | 154,036 |
Maturities of short-term investments | |||||||||
1,166,184 | 2,153,181 | 1,434,525 | 1,568,171 | 1,225,993 | 871,378 | 719,867 | 399,018 | 191,614 | 150,885 |
Cash paid for business combination, net of cash acquired (Note 5) | |||||||||
-242 | - | - | 12,695 | 3,355 | - | - | - | - | 2,019 |
Purchases of property and equipment | |||||||||
44,907 | 37,688 | 45,466 | 102,853 | 97,685 | 53,235 | 54,913 | 20,892 | 4,909 | 18,790 |
Cash paid (including prepayments) on long-term investments | |||||||||
150,448 | 862,848 | 687,176 | 228,156 | 63,066 | 45,180 | 251,450 | - | - | - |
RMB Deposit received from (repaid to) E-House (Note 4) | |||||||||
-135,386 | 128,153 | - | - | - | - | - | - | - | - |
Consideration received from E-House for share exchange with Leju (Note 4) | |||||||||
127,600 | - | - | - | - | - | - | - | - | - |
Repayment from/(Loan to) a third party | |||||||||
21,000 | - | -21,000 | - | - | - | - | - | - | - |
Proceeds from disposal/ refund of long-term investments | |||||||||
168,486 | 680,381 | 227,002 | 139,216 | - | - | - | - | - | - |
Cash disposed in conjunction with the spin off of China Online Housing Technology Corporation | |||||||||
- | - | - | - | - | - | - | - | 11,647 | - |
Others | |||||||||
-228 | -959 | -97 | - | - | - | - | 55,871 | 17,076 | - |
Proceeds from disposal of long-term investments | |||||||||
- | - | - | - | - | 95,000 | - | - | - | - |
Cash paid for acquisitions of intangible assets | |||||||||
- | - | - | - | - | - | - | - | 626 | - |
Net cash provided by (used in) investing activities | |||||||||
-987,947 | 945,798 | -1,025,896 | -191,560 | -599,399 | -351,947 | -218,214 | -235,910 | 111,664 | -23,960 |
Cash flows from financing activities: | |||||||||
Proceeds from issuance of ordinary shares pursuant to stock plans | |||||||||
3,220 | 36,045 | 9,284 | 10,439 | 11,331 | 4,405 | 6,191 | 12,497 | 25,436 | 10,549 |
Proceeds from issuance shares to New Wave, a related party (Note 15) | |||||||||
7 | - | 456,390 | - | - | - | - | - | - | - |
Proceeds received from non-controlling interests shareholders | |||||||||
20,330 | 127 | 652 | 2,117 | 2,593 | 91 | 5,702 | - | 798 | 2,500 |
Cash paid for purchase of non-controlling interests in subsidiary | |||||||||
1,844 | 3,273 | 1,460 | 6,873 | 45,876 | - | - | - | - | - |
Proceeds from Weibo's IPO, net of underwriter's commission | |||||||||
- | - | - | 306,491 | - | - | - | - | - | - |
Payment of offering expenses | |||||||||
- | - | - | 5,213 | - | - | - | - | - | - |
Proceeds from Alibaba for purchase Weibo shares | |||||||||
- | - | - | 346,667 | 585,799 | - | - | - | - | - |
Tax payment on SINA's sale of Weibo share | |||||||||
- | - | 27,800 | - | - | - | - | - | - | - |
Proceeds from issuance of Weibo convertible senior notes, net of issuance cost (Note 18) | |||||||||
879,293 | - | - | - | 783,227 | - | - | - | - | - |
Redemption of senior convertible notes of SINA (Note 18) | |||||||||
- | 646,908 | - | - | - | - | - | - | - | - |
Proceeds from issuance of ordinary shares pursuant to private equity placement | |||||||||
- | - | - | - | - | - | - | - | 180,000 | - |
Repurchase of ordinary shares (Note 18) | |||||||||
47,624 | 26,125 | 61,714 | 249,004 | 99,975 | - | - | - | 50,074 | - |
Proceeds from short-term bank loans | |||||||||
87,560 | 103,951 | 55,062 | - | - | - | - | - | - | - |
Repayment of short-term bank loans | |||||||||
33,733 | 68,113 | 55,062 | - | - | - | - | - | - | - |
Proceeds from third-party loans | |||||||||
- | 22,485 | 21,000 | - | - | - | - | - | - | - |
Repayment of third-party loans | |||||||||
20,239 | 21,599 | - | - | - | - | - | - | - | - |
Other financing activities | |||||||||
- | - | - | - | - | -200 | 1,641 | -520 | -861 | 642 |
Net cash provided by (used in) financing activities | |||||||||
886,970 | -603,410 | 396,352 | 404,624 | 1,237,099 | 4,296 | 13,534 | 11,977 | 155,299 | 12,407 |
Effect of exchange rate change on cash, cash equivalent and restricted cash | |||||||||
62,459 | -41,197 | -18,185 | -6,683 | 5,037 | 883 | 8,517 | 4,534 | -1,946 | 9,207 |
Net increase (decrease) in cash and cash equivalent and restricted cash | |||||||||
557,772 | 744,840 | -319,591 | 307,406 | 716,450 | -314,154 | -129,639 | -102,804 | 363,103 | 111,654 |
Supplemental disclosures: | |||||||||
Cash paid for income taxes | |||||||||
17,313 | 8,210 | 14,522 | 12,067 | 5,407 | 7,707 | 9,093 | 7,108 | 10,607 | - |
Cash paid for interest, net of amounts capitalized | |||||||||
1,987 | 8,330 | 6,949 | 8,244 | - | - | - | - | - | - |
Cash paid for interest | |||||||||
- | - | - | - | - | - | 0 | - | - | - |
Non-cash investing and financing activities | |||||||||
Deemed contribution from exercise of Weibo call option | |||||||||
- | - | - | 76,476 | - | - | - | - | - | - |
Deemed distribution to non-controlling interests from the transfer of Weibo Fund (Note 7) | |||||||||
- | - | 8,153 | - | - | - | - | - | - | - |
Exchanges of long-term investments in E-House and Leju (Note 4) | |||||||||
- | 322,726 | - | - | - | - | - | - | - | - |
In-kind distribution of Weibo's shares (Note 15) | |||||||||
554,016 | 338,598 | - | - | - | - | - | - | - | - |
Unpaid consideration for acquisitions | |||||||||
5,704 | - | - | - | - | - | - | - | - | - |
Changes in account payable related to property and equipment addition | |||||||||
-12,369 | 19,923 | 39 | -3,220 | - | - | - | - | - | - |
Conversion of convertible debts into ordinary shares | |||||||||
- | - | - | - | - | -2,000 | -96,798 | - | - | - |
Exchanges of long-term investments in Tudou and CRIC for the investments in Youku Tudou and E-house, respectively | |||||||||
- | - | - | - | - | 258,094 | - | - | 572,000 | - |
Cash paid for income taxes | |||||||||
- | - | - | - | - | - | - | - | - | 5,270 |
Cash acquired | |||||||||
- | - | - | - | - | - | - | - | - | 1,644 |
Cash paid for acquisitions, net of cash acquired | |||||||||
-242 | - | - | - | - | - | - | - | - | 2,019 |