Spotify Results Presentation Deck
Interim condensed consolidated statement of cash flows
(Unaudited)
(in € millions)
Operating activities
Net income/(loss)
Adjustments to reconcile net income/(loss) to net cash flows
Depreciation of property and equipment and lease right-of-use assets
Amortization of intangible assets
Impairment charges on real estate assets
Write-off of content assets
Excess and obsolete reserve
Share-based compensation expense
Finance income
Finance costs
Income tax expense
Other
Changes in working capital:
Increase in trade receivables and other assets
Increase in trade and other liabilities
Increase in deferred revenue
Decrease in provisions
Interest paid on lease 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)/from investing activities
Financing activities
Payments of lease liabilities
Proceeds from exercise of stock options
Payments for employee taxes withheld from restricted
stock unit releases
Net cash flows (used in)/from financing activities
Net increase/(decrease) 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*
September 30, 2023
*As of September 30, 2023, for the urpo of presentation in the interim condensed consolidated statement of cash flows, cash and cash equivalents are presented net of bank overdrafts of €3 million.
65
26
10
85
(55)
14
8
(1)
(69)
62
56
(2)
(9)
28
(7)
211
(1)
(406)
201
6
(3)
(203)
(13)
32
(20)
(1)
7
2,550
58
2,615
Three months ended
June 30, 2023
(302)
30
14
90
30
97
(33)
27
61
2
(97)
77
18
(2)
(10)
26
(15)
13
(2)
(138)
265
(2)
(10)
113
(27)
35
(16)
(8)
118
2,443
(11)
2,550
September 30, 2022
(166)
30
14
(2)
108
(102)
18
22
5
(6)
117
20
(12)
(14)
12
(4)
40
(107)
(5)
(78)
78
3
(109)
(11)
(10)
(21)
(90)
2,786
155
2,851
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