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F-10 STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY U.S. dollars in thousands (except share amounts) Share capital Additional paid-in capital Treasury shares at cost CHECK POINT SOFTWARE TECHNOLOGIES LTD. AND ITS SUBSIDIARIES Accumulated other comprehensive income Retained earnings Total comprehensive income Total shareholders’ equity Balance as of December 31, 2010 ....................... $774 $580,276 $(1,306,382) $15,584 $3,429,079 — $2,719,331 Tax benefit related to exercise of stock options ............ — 7,956 — — — — 7,956 Acquisition of non-controlling interest in Sofaware ......... — (6,556) — — — — (6,556) Issuance of treasury shares under stock plans, upon exercise of options and vesting of restricted stock units (3,069,869 Ordinary shares, net of 52,431 shares for taxes) .......... — 8,997 62,496 — — — 71,493 Treasury shares at cost (5,591,687 Ordinary shares) ........ — — (300,000) — — — (300,000) Stock-based compensation expense related to employees .... — 39,835 — 39,835 Comprehensive income, net of tax - Reclassification adjustments to income on marketable securities, net of $298 tax ........................... — — — (374) — (374) (374) Gain on sale of marketable securities previously impaired, net of $363 tax ....................................... — — — (1,654) — (1,654) (1,654) Unrealized loss on marketable securities, net of $372 tax .... — — — (681) — (681) (681) Unrealized loss on forward contracts .................... (225) (225) (225) Net income ........................................ — — — — 543,966 543,966 543,966 Total comprehensive income ........................... $541,032 Balance as of December 31, 2011 ....................... $774 $630,508 $(1,543,886) $12,650 $3,973,045 $3,073,091 Unrealized gain on marketable securities and forward contracts, net of $ 3,876 tax ......................... $12,650 Accumulated other comprehensive income as of December 31, 2011 ................................ $12,650 The accompanying notes are an integral part of the consolidated financial statements. CHECK POINT SOFTWARE FORM 20-F DFN ON-BOA wcrdoc1 RR Donnelley ProFile 10.10.12 WCRgildt0px 30-Mar-2012 01:10 EST 229899 FIN 10 5* PAL 09-Apr-2012 13:21 EST CURR PS PMT 1C 200FDMqj#xe#Ks=h ˆ200FDMqj#xe#Ks=hhŠ
CHECK POINT SOFTWARE FORM 20-F DFN ON-BOA ˆ200FDMqk04h2RFN7!Š 200FDMqk04h2RFN7 RR Donnelley ProFile wcrdoc1 10.10.12 WCRsinhm0in 26-Mar-2012 19:25 EST 229899 FIN 11 4* PAL 09-Apr-2012 13:21 EST CURR PS PMT 1C CONSOLIDATED STATEMENTS OF CASH FLOWS U.S. dollars in thousands CHECK POINT SOFTWARE TECHNOLOGIES LTD. AND ITS SUBSIDIARIES 2009 Year ended December 31, 2010 2011 Cash flows from operating activities: Net income .............................................. Adjustments required to reconcile net income to net cash provided by operating activities: $ 357,523 $ 452,826 $ 543,966 Depreciation of property and equipment .................... Amortization of premium and accretion of discount on 8,885 6,890 7,620 marketable securities, net ............................. Net gain (impairment net of gains) on sale of marketable 8,414 14,428 28,092 securities previously impaired .......................... 1,277 785 (2,017) Realized gain on sale of marketable securities, net ............ 1,896 (974) (672) Amortization of intangible assets ......................... 50,653 51,876 43,925 Stock-based compensation .............................. 30,907 35,180 39,835 Deferred income taxes, net .............................. Decrease (increase) in trade receivables, net of allowances for (11,386) (11,674) (11,552) doubtful accounts and sales reserves ..................... Decrease (increase) in prepaid expenses and other current assets (11,256) 536 (73,674) and other assets ..................................... 1,285 (5,742) (4,917) Increase (decrease) in trade payables ...................... (2,405) 789 (5,999) Increase in employees and payroll accruals ................. 20,163 13,647 8,988 Increase in accrued expenses and other liabilities ............. 63,026 97,178 90,384 Increase in deferred revenues ............................ 46,006 37,649 87,487 Excess tax benefit from stock-based compensation ........... (7,502) (4,763) (7,956) Increase (decrease) in accrued severance pay, net ............ (379) (55) (546) Net cash provided by operating activities ....................... 557,107 688,576 742,964 Cash flows from investing activities: Cash paid in conjunction with acquisitions, net of acquired cash ..... (58,787) (13,957) (15,060) Proceeds from maturity of marketable securities ................. 427,660 605,725 820,365 Proceeds from sale of marketable securities ..................... 27,006 44,096 23,655 Investment in marketable securities ........................... (1,002,305) (1,090,416) (1,173,398) Investment in short-term deposits ............................. 26,302 — (222,455) Purchase of property and equipment ........................... (4,283) (4,910) (7,195) Net cash used in investing activities ........................... (584,407) (459,462) (574,088) The accompanying notes are an integral part of the consolidated financial statements. F-11
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