Yahoo 2013 Annual Report Download - page 37

Item 6. Selected Financial Data
The following selected consolidated financial data should be read in conjunction with the consolidated financial
statements and notes thereto and “Management’s Discussion and Analysis of Financial Condition and Results of
Operations” appearing elsewhere in this Annual Report on Form 10-K. The consolidated statements of income
data and the consolidated balance sheets data for the years ended, and as of, December 31, 2009, 2010, 2011,
2012, and 2013 are derived from our audited consolidated financial statements.
Consolidated Statements of Income Data:
Years Ended December 31,
2009(3) 2010(4) 2011(5) 2012(6) 2013(7)
(in thousands, except per share amounts)
Revenue ................................ $6,460,315 $6,324,651 $4,984,199 $ 4,986,566 $4,680,380
Total operating expenses ................... $6,073,623 $5,552,127 $4,183,858 $ 4,420,198 $4,090,454
Income from operations(1) .................. $ 386,692 $ 772,524 $ 800,341 $ 566,368 $ 589,926
Other income, net(2) ....................... $ 187,528 $ 297,869 $ 27,175 $ 4,647,839 $ 43,357
Provision for income taxes ................. $ (219,321) $ (221,523) $ (241,767) $(1,940,043) $ (153,392)
Earnings in equity interests ................. $ 250,390 $ 395,758 $ 476,920 $ 676,438 $ 896,675
Net income attributable to Yahoo! Inc. ........ $ 597,992 $1,231,663 $1,048,827 $ 3,945,479 $1,366,281
Net income attributable to Yahoo! Inc. common
stockholders per share—basic ............. $ 0.43 $ 0.91 $ 0.82 $ 3.31 $ 1.30
Net income attributable to Yahoo! Inc. common
stockholders per share—diluted ............ $ 0.42 $ 0.90 $ 0.82 $ 3.28 $ 1.26
Shares used in per share calculation—basic .... 1,397,652 1,354,118 1,274,240 1,192,775 1,052,705
Shares used in per share calculation—diluted . . . 1,415,658 1,364,612 1,282,282 1,202,906 1,070,811
(1) Includes:
Stock-based compensation expense ....... $ 438,087 $ 223,478 $ 203,958 $ 224,365 $ 278,220
Restructuring charges, net .............. $ 126,901 $ 57,957 $ 24,420 $ 236,170 $ 3,766
(2) Includes:
Gain related to sale of Alibaba Group
Shares ............................ $ — $ — $ — $4,603,322 $ —
(3) Our net income attributable to Yahoo! Inc. for the year ended December 31, 2009 included a pre-tax gain of
$67 million in connection with the sale of our Gmarket shares and a gain on the sale of our direct investment
in Alibaba.com of $98 million. In addition, in the year ended December 31, 2009, we recorded net
restructuring charges of $127 million related to our cost reduction initiatives. The tax impact on the items
referred to above was $20 million, and in the aggregate, these items had a net positive impact of $18 million
on net income attributable to Yahoo! Inc., or $0.01 per both basic and diluted share, for the year ended
December 31, 2009.
(4) Our revenue declined in 2010 due to the Search Agreement with Microsoft, which beginning during the
fourth quarter of 2010 required a change in revenue presentation and a sharing of search revenue with
Microsoft in transitioned markets. Our net income attributable to Yahoo! Inc. for the year ended
December 31, 2010 included a pre-tax gain of $66 million in connection with the sale of Zimbra, Inc. and a
pre-tax gain on the sale of HotJobs of $186 million. In addition, in the year ended December 31, 2010, we
recorded net restructuring charges of $58 million related to our cost reduction initiatives. Apart from the
Search Agreement, the tax impact on the items referred to above was a $10 million benefit, and in the
aggregate, these items had a net positive impact of $204 million on net income attributable to Yahoo! Inc., or
$0.15 per both basic and diluted share, for the year ended December 31, 2010. In addition, in the year ended
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