EMC 2010 Annual Report Download - page 46
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Table of Contents
EMC CORPORATION
CONSOLIDATED INCOME STATEMENTS
(in thousands, except per share amounts)
For the Year Ended December 31,
2010 2009 2008
Revenues:
Product sales $ 10,892,857 $ 8,828,145 $ 10,071,816
Services 6,122,269 5,197,765 4,804,347
17,015,126 14,025,910 14,876,163
Costs and expenses:
Cost of product sales 4,882,031 4,406,187 4,663,667
Cost of services 2,102,114 1,874,824 1,990,127
Research and development 1,888,015 1,627,509 1,721,330
Selling, general and administrative 5,375,305 4,595,625 4,601,588
Restructuring and acquisition-related charges 84,375 107,490 244,735
In-process research and development — — 85,780
Operating income 2,683,286 1,414,275 1,568,936
Non-operating income (expense):
Investment income 142,536 140,430 247,049
Interest expense (178,345) (182,499) (176,355)
Other income (expense), net (39,494) 2,370 (39,405)
Total non-operating income (expense) (75,303) (39,699) 31,289
Income before provision for income taxes 2,607,983 1,374,576 1,600,225
Income tax provision 638,297 252,775 280,396
Net income 1,969,686 1,121,801 1,319,829
Less: Net income attributable to the non-controlling interest in VMware, Inc. (69,691) (33,724) (44,725)
Net income attributable to EMC Corporation $ 1,899,995 $ 1,088,077 $ 1,275,104
Net income per weighted average share, basic attributable to EMC Corporation common shareholders $ 0.92 $ 0.54 $ 0.62
Net income per weighted average share, diluted attributable to EMC Corporation common shareholders $ 0.88 $ 0.53 $ 0.61
Weighted average shares, basic 2,055,959 2,022,371 2,048,506
Weighted average shares, diluted 2,147,931 2,055,146 2,079,853
The accompanying notes are an integral part of the consolidated financial statements.
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