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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 statement of income data and the consolidated balance sheet data for the years ended, and as of,
December 31, 2012 , 2011 , 2010 , 2009 and 2008 are derived from our audited consolidated financial statements.
57
Year Ended December 31,
2012
2011
(2)
2010
2009
(3)
2008
(In millions, except per share amounts)
Consolidated Statement of Income Data:
(1)
Net revenues
$
14,072
$
11,652
$
9,156
$
8,727
$
8,541
Gross profit
9,856
8,191
6,592
6,248
6,313
Income from operations
2,888
2,373
2,054
1,457
2,076
Income before income taxes
3,084
3,910
2,098
2,879
2,184
Net income
2,609
3,229
1,801
2,389
1,779
Net income per share:
Basic
$
2.02
$
2.50
$
1.38
$
1.85
$
1.37
Diluted
$
1.99
$
2.46
$
1.36
$
1.83
$
1.36
Weighted average shares:
Basic
1,292
1,293
1,306
1,290
1,303
Diluted
1,313
1,313
1,327
1,305
1,313
As of December 31,
2012
2011
2010
2009
2008
(In millions)
Consolidated Balance Sheet Data:
(1)
Cash and cash equivalents
$
6,817
$
4,691
$
5,577
$
4,000
$
3,189
Short-term investments
2,591
1,238
1,045
944
164
Long-term investments
3,044
2,453
2,492
1,382
106
Working capital
(4)
10,474
5,927
6,548
4,818
2,582
Total assets
37,074
27,320
22,004
18,408
15,592
Short-term debt
413
565
300
—
1,000
Long-term debt
4,106
1,525
1,494
—
—
Total stockholders' equity
20,865
17,930
15,302
13,788
11,084
(1) Includes the impact of acquisitions as well as the impact from dispositions. For a summary of recent significant acquisitions and
dispositions, please see “Note 3 - Business Combinations and Divestitures” to the consolidated financial statements included in this report.
(2) The consolidated statement of income data 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
Divestitures" to the consolidated financial statements included in this report.
(3) The consolidated statement of income data 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.
(4)
Working capital is calculated as the difference between total current assets and total current liabilities.