America Online 2010 Annual Report Download - page 112

Table of Contents
AOL INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
There are no managers who are held accountable by AOL's chief operating decision maker, or anyone else, for an operating measure of profit or loss for any
operating unit below the consolidated unit level. Accordingly, management has determined that the Company has one segment.
NOTE 15—SELECTED QUARTERLY FINANCIAL DATA (Unaudited)
Quarter Ended
March 31, June 30, September 30, December 31,
(recast) (recast) (recast)
2010
Revenues:
Advertising $ 354.3 $ 304.7 $ 293.5 $ 331.6
Subscription 282.7 260.2 244.8 235.9
Other 27.3 27.3 25.9 28.5
Total revenues 664.3 592.2 564.2 596.0
Costs of revenues 364.7 335.0 342.8 378.1
Operating income (loss)(a) 80.7 (1,331.8) 201.1 67.4
Net income (loss) attributable to AOL Inc. $ 34.7 $ (1,055.0) $ 171.6 $ 66.2
Basic net income (loss) per common share $ 0.33 $ (9.89) $ 1.61 $ 0.62
Diluted net income (loss) per common share $ 0.32 $ (9.89) $ 1.60 $ 0.61
March 31, June 30, September 30, December 31,
(recast) (recast) (recast) (recast)
2009
Revenues:
Advertising $ 439.8 $ 416.6 $ 411.7 $ 468.6
Subscription 393.5 355.7 332.2 307.4
Other 30.7 28.9 30.0 30.7
Total revenues 864.0 801.2 773.9 806.7
Costs of revenues 484.2 463.2 451.4 494.4
Operating income (b) 141.9 159.7 128.6 32.4
Net income 82.5 90.7 73.9 1.4
Less: Net loss attributable to noncontrolling interests 0.2 — 0.1 —
Net income attributable to AOL Inc. $ 82.7 $ 90.7 $ 74.0 $ 1.4
Basic net income per common share $ 0.78 $ 0.86 $ 0.70 $ 0.01
Diluted net income per common share $ 0.78 $ 0.86 $ 0.70 $ 0.01
(a) Operating income (loss) for the quarter ended June 30, 2010 includes a $1,414.4 million non-cash impairment charge to reduce the carrying value of
goodwill. Operating income includes the effects of restructuring charges related primarily to voluntary and involuntary employee terminations and
facility closures of $23.4 million and $11.1 million for the quarters ended March 31, 2010 and June 30, 2010, respectively. Operating income (loss)
includes $4.9 million, $4.7 million, $120.2 million and ($13.6) million for the quarters ended March 31, 2010, June 30, 2010, September 30, 2010 and
December 31, 2010, respectively, related to ICQ, as the Company has recast the results of operations of ICQ as continuing operations.
(b) Operating income includes the effects of restructuring charges related primarily to voluntary and involuntary employee terminations and facility
closures of $58.3 million, $14.4 million, $10.2 million and
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