10-K Watch: Yahoo Paid $79 Million To Bankers In Search Of A Deal Last Year

Yahoo (NSDQ: YHOO) filed its annual report with the SEC Friday, and no great revelations except for continuation of some interesting numbers from the previous quarters:

— Yahoo spent a total of $79 million on bankers and advisers to end up not doing any deal except its proxy settlement over the year. It started early last year with Microsoft’s initial $44.6 billion buyout offer, and then moved on to discussion with other players including a partial search deal with *Google* (which Google (NSDQ: GOOG) withdrew from due to regulatory concerns), and discussions with AOL/*Time Warner* and *News Corp.*, among others. Goldman Sachs and Lehman Bros, whose banking arm is now part of Barclays Capital, were Yahoo’s main financial advisers, according to Reuters. Besides the deal talks, the money also included advising on settlement with the Icahn-led proxy group, also last year.

More after the jump

— Five separate stockholder lawsuits were filed against the company last year relating to the *Microsoft* proposal, most of them right after the first proposal asking for a higher price from the giant.

— In 2008, it recorded a $350 million one-time payment from *AT&T* in long-term deferred revenues, when it restructured its co-branded DSL deal, a portion of which was recognized as revenues during the year.

— With layoffs, restructuring and closing down of offices the norm in Europe the second half of last year, Yahoo also recorded a goodwill impairment charge of $488 million related to this unit.

— As it did major layoffs, cost cutting and consolidation of its offices across the company last year, it incurred “severance, facility and other restructuring costs” of $137 million, offset by $30 million in related stock-based compensation expense reversals for unvested awards that were forfeited, resulting in a net restructuring charge of $107 million in 2008.

— It paid $209 million in cash for acquisitions in 2008, compared to $974 million and $142 million in 2007 and 2006, respectively. The cash in 2008 included about $143 million in cash consideration it paid for buying online video tech player Maven Networks.The stock options it gave out last year turned out to be almost worthless by the end of the year.