Spotify Results Presentation Deck
Consolidated statement of cash flows
(Unaudited)
(in € millions)
Operating activities
Net (loss)/income
Adjustments to reconcile net (loss)/income to net cash flows
Depreciation of property and equipment and lease right-of-use assets
Amortization of intangible assets
Share-based compensation expense
Excess and obsolete reserve
Finance income
Finance costs
Income tax expense
Other
Changes in working capital:
(Increase)/decrease in trade receivables and other assets
Increase/(decrease) in trade and other liabilities
Increase in deferred revenue
Increase/(decrease) in provisions
nterest paid on
liabilities
Interest received
Income tax paid
Net cash flows from operating activities
Investing activities
Business combinations, net of cash acquired
Purchases of property and equipment
Purchases of short term investments
Sales and maturities of short term investments
Change in restricted cash
Other
Net cash flows used in investing activities
Financing activities
Payments of lease liabilities
Lease incentives received
Proceeds from exercise of stock options
Proceeds from issuance of Exchangeable Notes, net of costs
Repurchases of ordinary shares
Payments for employee taxes withheld from restricted
stock unit releases
Net cash flows (used in)/from financing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at beginning of the period
Net foreign exchange gains/(losses) on cash and cash equivalents
Cash and cash equivalents at period end
June 30, 2022
(125)
29
11
105
16
(118)
14
35
(5)
(68)
138
10
14
(13)
4
(8)
39
(114)
(5)
(78)
141
3
(4)
(57)
(10)
(10)
(20)
(38)
2,721
103
2,786
Three months ended
March 31, 2022
131
27
10
68
(175)
14
24
4
59
(103)
6
(3)
(13)
1
(13)
37
(85)
(10)
(133)
78
(5)
(1)
(156)
(10)
2
43
(11)
22
(97)
2,744
74
2,721
June 30, 2021
(20)
23
8
68
(21)
25
28
3
(95)
30
17
(13)
2
(1)
54
(42)
(20)
(109)
134
(2)
(39)
(8)
26
(12)
6
21
2,442
(23)
2,440
Six months ended
June 30, 2022
June 30, 2021
6
56
21
173
16
(293)
28
59
(1)
(9)
35
16
11
(26)
5
(21)
76
(199)
(15)
(211)
219
(5)
(213)
(20)
2
43
(21)
2
(135)
2,744
177
2,786
3
45
16
116
(125)
56
92
5
(80)
(37)
54
(1)
(24)
2
(3)
119
(101)
(44)
(224)
224
(8)
(153)
(16)
77
1,223
(28)
1,256
1,222
1,151
67
2,440
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