Intel 2014 Annual Report Download - page 55

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INTEL CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
Three Years Ended December 27, 2014
(In Millions, Except Per Share Amounts) 2014 2013 2012
Net revenue ............................................................. $ 55,870 $ 52,708 $ 53,341
Cost of sales ............................................................. 20,261 21,187 20,190
Gross margin ............................................................ 35,609 31,521 33,151
Research and development .................................................. 11,537 10,611 10,148
Marketing, general and administrative .......................................... 8,136 8,088 8,057
Restructuring and asset impairment charges .................................... 295 240 —
Amortization of acquisition-related intangibles .................................... 294 291 308
Operating expenses ....................................................... 20,262 19,230 18,513
Operating income ........................................................ 15,347 12,291 14,638
Gains (losses) on equity investments, net ....................................... 411 471 141
Interest and other, net ...................................................... 43 (151) 94
Income before taxes ...................................................... 15,801 12,611 14,873
Provision for taxes ......................................................... 4,097 2,991 3,868
Net income .............................................................. $ 11,704 $ 9,620 $ 11,005
Basic earnings per share of common stock ................................... $ 2.39 $ 1.94 $ 2.20
Diluted earnings per share of common stock .................................. $ 2.31 $ 1.89 $ 2.13
Weighted average shares of common stock outstanding:
Basic ................................................................. 4,901 4,970 4,996
Diluted ................................................................ 5,056 5,097 5,160
See accompanying notes.
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