Yahoo 2012 Annual Report Download - page 80

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Yahoo! Inc.
Consolidated Statements of Income
Years Ended December 31,
2010 2011 2012
(In thousands, except per share amounts)
Revenue .................................................. $6,324,651 $4,984,199 $ 4,986,566
Operating expenses:
Cost of revenue—Traffic acquisition costs ................... 1,736,423 603,371 518,906
Cost of revenue—Other .................................. 945,651 983,626 1,101,660
Sales and marketing ..................................... 1,263,992 1,122,193 1,101,572
Product development .................................... 1,028,716 919,368 885,824
General and administrative ............................... 487,762 497,288 540,247
Amortization of intangibles ............................... 31,626 33,592 35,819
Restructuring charges, net ................................ 57,957 24,420 236,170
Total operating expenses ............................. 5,552,127 4,183,858 4,420,198
Income from operations ...................................... 772,524 800,341 566,368
Other income, net ....................................... 297,869 27,175 4,647,839
Income before income taxes and earnings in equity interests ......... 1,070,393 827,516 5,214,207
Provision for income taxes ................................... (221,523) (241,767) (1,940,043)
Earnings in equity interests ................................... 395,758 476,920 676,438
Net income ................................................ 1,244,628 1,062,669 3,950,602
Less: Net income attributable to noncontrolling interests ........ (12,965) (13,842) (5,123)
Net income attributable to Yahoo! Inc. .......................... $1,231,663 $1,048,827 $ 3,945,479
Net income attributable to Yahoo! Inc. common stockholders per
share—basic ............................................. $ 0.91 $ 0.82 $ 3.31
Net income attributable to Yahoo! Inc. common stockholders per
share—diluted ........................................... $ 0.90 $ 0.82 $ 3.28
Shares used in per share calculation—basic ...................... 1,354,118 1,274,240 1,192,775
Shares used in per share calculation—diluted ..................... 1,364,612 1,282,282 1,202,906
Stock-based compensation expense by function:
Cost of revenue—Other .................................. $ 3,275 $ 3,489 $ 10,078
Sales and marketing ..................................... 71,154 65,120 82,115
Product development .................................... 106,665 89,587 74,284
General and administrative ............................... 42,384 45,762 57,888
Restructuring expense (reversals) accelerations, net ............ (4,211) 214 (3,429)
The accompanying notes are an integral part of these consolidated financial statements.
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