YANDEX N.V.
Acquisitions of businesses, net of cash acquired (95) (46) (0.6)
Investments in non-marketable equity securities - (155) (2.1)
Proceeds from sale of equity securities - 2,578 35.6
Investments in marketable securities - (1,422) (19.6)
Investments in term deposits (786.8)
(60,247) (56,941)
Maturities of term deposits 66,287 70,437 973.2
Loans granted - (474) (6.5)
Proceeds from repayments of loans 16 577 7.9
Net cash (used in)/from investing activities (4,286) 880 12.2
CASH FLOWS PROVIDED BY/(USED IN) FINANCING ACTIVITIES:
Proceeds from exercise of share options 34 244 3.4
Repurchases of share options (642) - -
Proceeds from issuance of ordinary shares 72,650 - -
Ordinary shares issuance costs (4) - -
Repurchases of ordinary shares (1,719) - -
Repayments of overdraft borrowings - (397) (5.5)
Payment for finance leases (26) (128) (1.8)
Other financing activities (33) (61) (0.9)
Purchase of redeemable noncontrolling interests (47) (32) (0.4)
Net cash provided by/(used in) financing activities 70,213 (374) (5.2)
Effect of exchange rate changes on cash and cash equivalents, and restricted cash and (6,651) (644) (9.0)
cash equivalents
Net change in cash and cash equivalents, and restricted cash and cash equivalents 59,146 (5,011) (69.3)
Cash and cash equivalents, and restricted cash and cash equivalents, beginning of 125,189 92,925 1,284.0
period
Cash and cash equivalents, and restricted cash and cash equivalents, end of period 184,335 87,914 1,214.7
Reconciliation of cash and cash equivalents, and restricted cash and cash equivalents:
Cash and cash equivalents, beginning of period 125,142 92,878 1,283.3
Restricted cash and cash equivalents, beginning of period 47 47 0.7
Cash and cash equivalents, and restricted cash and cash equivalents, beginning of 125,189 92,925 1,284.0
period
Cash and cash equivalents, end of period 184,292 87,867 1,214.1
Restricted cash and cash equivalents, end of period 43 47 0.6
Cash and cash equivalents, and restricted cash and cash equivalents, end of period 184,335 87,914 1,214.7 YANDEX N.V.
Unaudited Condensed Consolidated Statements of Cash Flows
(in millions of Russian rubles and U.S. dollars)
Six months ended June 30,
2020 2021 2021
RUB RUB USD
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income/(loss) 1,684 (7,884) (108.9)
Adjustments to reconcile net income/(loss) to net cash provided by operating
activities:
Depreciation of property and equipment 6,669 8,015 110.8
Amortization of intangible assets 1,393 2,883 39.8
Amortization of content assets 1,548 3,072 42.4
Operating lease right-of-use assets amortization and the lease liability 4,146 5,030 69.5
accretion
Amortization of debt discount and issuance costs 637 1,036 14.3
Share-based compensation expense 6,960 10,666 147.4
Deferred income tax expense/(benefit) 692 (4,065) (56.2)
Foreign exchange (gains)/losses (3,154) 291 4.0
Loss from equity method investments 2,083 6 0.1
Other 132 180 2.5
Changes in operating assets and liabilities excluding the effect of acquisitions:
Accounts receivable, net 1,553 (2,476) (34.2)
Prepaid expenses and other assets (3,241) (13,306) (183.8)
Inventory (963) (1,988) (27.5)
Accounts payable and accrued liabilities (9,520) 5,907 81.6
Deferred revenue 176 287 4.0
Content assets (2,603) (7,547) (104.3)
Content liabilities (628) 3,581 49.5
Net cash from operating activities 7,564 3,688 51.0
CASH FLOWS USED IN INVESTING ACTIVITIES:
Purchases of property and equipment and intangible assets (12,681) (17,244) (238.3)
Proceeds from sale of property and equipment 38 34 0.5
Acquisitions of businesses, net of cash acquired (95) (7,274) (100.5)
Investments in non-marketable equity securities (15) (265) (3.7)
Proceeds from sale of equity securities - 2,735 37.8
Investments in marketable securities - (9,869) (136.4)
Investments in term deposits
(121,992) (187,251) (2,587.3)
Maturities of term deposits 93,586 170,608 2,357.4
Loans granted - (560) (7.7)
Proceeds from repayments of loans 16 577 7.9
Net cash used in investing activities (41,143) (48,509) (670.3)
CASH FLOWS PROVIDED BY/(USED IN) FINANCING ACTIVITIES:
Proceeds from exercise of share options 48 864 11.9
Repurchases of share options (642) (42) (0.6)
Proceeds from issuance of convertible debt 82,046 - -
Proceeds from issuance of ordinary shares 72,650 - -
Ordinary shares issuance costs (4) - -
Repurchases of ordinary shares (10,165) - -
Repayments of overdraft borrowings - (397) (5.5)
Payment for contingent consideration (10) (10) (0.1)
Purchase of redeemable noncontrolling interests (47) (669) (9.2)
Payment for finance leases (140) (202) (2.8)
Other financing activities (66) (132) (1.8)
Net cash provided by/(used in) financing activities 143,670 (588) (8.1)
Effect of exchange rate changes on cash and cash equivalents, and restricted cash 17,791 877 12.0
and cash equivalents
Net change in cash, cash equivalents, and restricted cash 127,882 (44,532) (615.4)
Cash and cash equivalents, and restricted cash and cash equivalents, beginning of 56,453 132,446 1,830.1
period
Cash and cash equivalents, and restricted cash and cash equivalents, end of period 184,335 87,914 1,214.7
Reconciliation of cash and cash equivalents, and restricted cash and cash
equivalents: (MORE TO FOLLOW) Dow Jones Newswires
July 28, 2021 06:00 ET (10:00 GMT)
