Yahoo 2013 Annual Report Download - page 78
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Yahoo! Inc.
Consolidated Statements of Income
Years Ended December 31,
2011 2012 2013
(in thousands, except per share amounts)
Revenue .................................................. $4,984,199 $ 4,986,566 $4,680,380
Operating expenses:
Cost of revenue—traffic acquisition costs .................... 603,371 518,906 254,442
Cost of revenue—other .................................. 983,626 1,101,660 1,094,938
Sales and marketing ..................................... 1,122,193 1,101,572 1,130,820
Product development .................................... 919,368 885,824 1,008,487
General and administrative ............................... 497,288 540,247 569,555
Amortization of intangibles ............................... 33,592 35,819 44,841
Gains on sales of patents ................................. — — (79,950)
Goodwill impairment charge .............................. — — 63,555
Restructuring charges, net ................................ 24,420 236,170 3,766
Total operating expenses ............................. 4,183,858 4,420,198 4,090,454
Income from operations ...................................... 800,341 566,368 589,926
Other income, net ....................................... 27,175 4,647,839 43,357
Income before income taxes and earnings in equity interests ......... 827,516 5,214,207 633,283
Provision for income taxes ................................... (241,767) (1,940,043) (153,392)
Earnings in equity interests ................................... 476,920 676,438 896,675
Net income ................................................ 1,062,669 3,950,602 1,376,566
Less: Net income attributable to noncontrolling interests ........ (13,842) (5,123) (10,285)
Net income attributable to Yahoo! Inc. .......................... $1,048,827 $ 3,945,479 $1,366,281
Net income attributable to Yahoo! Inc. common stockholders per
share—basic ............................................. $ 0.82 $ 3.31 $ 1.30
Net income attributable to Yahoo! Inc. common stockholders per
share—diluted ........................................... $ 0.82 $ 3.28 $ 1.26
Shares used in per share calculation—basic ...................... 1,274,240 1,192,775 1,052,705
Shares used in per share calculation—diluted ..................... 1,282,282 1,202,906 1,070,811
Stock-based compensation expense by function:
Cost of revenue—other .................................. $ 12,017 $ 10,078 $ 15,545
Sales and marketing ..................................... 65,176 82,115 101,852
Product development .................................... 80,668 74,284 83,396
General and administrative ............................... 46,097 57,888 77,427
Restructuring expense accelerations (reversals), net ............ 214 (3,429) —
The accompanying notes are an integral part of these consolidated financial statements.
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