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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 statement of income data and the consolidated balance sheet data for the years ended, and as of, December 31,
2011 , 2010 , 2009 , 2008 and 2007 are derived from our audited consolidated financial statements.
52
ITEM 6:
SELECTED FINANCIAL DATA
Year Ended December 31,
2011
(2)
2010
2009
(3)
2008
2007
(4)
(In thousands, except per share amounts)
Consolidated Statement of Income Data:
(1)
Net revenues
$
11,651,654
$
9,156,274
$
8,727,362
$
8,541,261
$
7,672,329
Gross profit
8,191,470
6,591,607
6,247,600
6,313,192
5,909,357
Income from operations
2,373,489
2,053,571
1,456,766
2,075,682
613,180
Income before income taxes
3,910,046
2,098,447
2,879,151
2,183,564
750,851
Net income
3,229,387
1,800,961
2,389,097
1,779,474
348,251
Net income per share:
Basic
$
2.50
$
1.38
$
1.85
$
1.37
$
0.26
Diluted
$
2.46
$
1.36
$
1.83
$
1.36
$
0.25
Weighted average shares:
Basic
1,292,775
1,305,593
1,289,848
1,303,454
1,358,797
Diluted
1,312,950
1,327,417
1,304,981
1,312,608
1,376,174
As of December 31,
2011
2010
2009
2008
2007
(In thousands)
Consolidated Balance Sheet Data:
(1)
Cash and cash equivalents
$
4,691,101
$
5,577,411
$
3,999,818
$
3,188,928
$
4,221,191
Short-term investments
1,238,301
1,045,403
943,986
163,734
676,264
Long-term investments
2,452,763
2,492,012
1,381,765
106,178
138,237
Working capital
(5)
5,927,250
6,548,824
4,818,240
2,581,503
4,022,926
Total assets
27,320,218
22,003,762
18,408,320
15,592,439
15,366,037
Short-term debt
564,601
300,000
—
1,000,000
200,000
Long-term debt
1,525,047
1,494,227
—
—
—
Total stockholders' equity
17,929,879
15,302,179
13,787,648
11,083,858
11,704,602
(1) Includes the impact of acquisitions as well as the impact from dispositions. For a summary of recent significant acquisitions and the sale of
Skype, please see “Note 3 - Business Combinations” and “Note 4 - Skype Related Transactions” to the consolidated financial statements
included in this report.
(2) The Consolidated Statement of Income for the year ended December 31, 2011 includes a loss on divested business of $256.5 million and a
gain on the sale of our remaining 30% equity interest in Skype of approximately $1.7 billion . See "Note 3 - Business Combinations" and
"Note 4 - Skype Related Transactions" to the consolidated financial statements included in this report.
(3) The Consolidated Statement of Income for the year ended December 31, 2009 includes a $343.2 million charge related to the settlement of a
lawsuit between Skype, Joltid and entities controlled by Joltid’s founders and a $1.4 billion gain on the sale of Skype. See “Note 4 - Skype
Related Transactions” to the consolidated financial statements included in this report.
(4) The Consolidated Statement of Income for the year ended December 31, 2007 includes a goodwill impairment charge of $1.4 billion related
to Skype.
(5)
Working capital is calculated as the difference between total current assets and total current liabilities.