Like Apple, Cisco and Microsoft, Google stands as a powerhouse of liquidity and free cash flow generation.

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We consider free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that, after the acquisition of property and equipment, including information technology infrastructure and land and buildings, can be used for strategic opportunities, including investing in our business, making strategic acquisitions, and strengthening the balance sheet.

ENGADGET: Google's Q4 2011 results: $2.71 billion profit, $8.13 billion in revenue, Wall Street disappointed

Since a good nugget is about free cash flow (not shareholder liquidity), this type of capital is hard to find.

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Free cash flow, an alternative non-GAAP measure of liquidity, is defined as net cash provided by operating activities less capital expenditures.

ENGADGET: Google's Q4 2011 results: $2.71 billion profit, $8.13 billion in revenue, Wall Street disappointed

The non-GAAP measures, as well as free cash flow, an alternative non-GAAP measure of liquidity, are described below and are reconciled to the corresponding GAAP measures in the accompanying financial tables.

ENGADGET: Google announces Q2 earnings: $9.02 billion in revenue, $2.51 billion in net income

The non-GAAP measures, as well as free cash flow, an alternative non-GAAP measure of liquidity, are described below and are reconciled to the corresponding GAAP measures at the end of this release.

ENGADGET: Google's Q4 2011 results: $2.71 billion profit, $8.13 billion in revenue, Wall Street disappointed