Comparing cash flow policies across companies in the Internet industry

Cash flows from three well-known Internet companies are provided below (dollars in millions):

Priceline

2009

2008

2007

Operations

$510

$316

$156

Investing

501

152

221

Financing

169

169

19

Amazon.com

2009

2008

2007

Operations

$3,293

$1,697

$1,405

Investing

2,337

1,199

42

Financing

280

198

50

eBay:

2009

2008

2007

Operations

$2,908

$2,882

$2,641

Investing

1,149

2,057

693

Financing

946

1,674

694

REQUIRED:

Describe the similarities and differences of the cash flow policies across the three companies.