MasterCard 2009 Annual Report Download - page 86

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MASTERCARD INCORPORATED
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Years Ended December 31,
2009 2008 2007
(In thousands, except per share data)
Revenues, net .............................................. $5,098,684 $4,991,600 $4,067,599
Operating Expenses
General and administrative .................................... 1,934,974 1,996,512 1,856,920
Advertising and marketing .................................... 755,480 934,742 1,001,525
Litigation settlements ........................................ 6,745 2,482,845 3,400
Depreciation and amortization ................................. 141,377 112,006 97,642
Total operating expenses .................................. 2,838,576 5,526,105 2,959,487
Operating income (loss) ...................................... 2,260,108 (534,505) 1,108,112
Other Income (Expense)
Investment income, net ....................................... 57,698 182,907 530,400
Interest expense ............................................. (115,109) (103,600) (57,277)
Other income (expense), net ................................... 15,354 71,985 90,197
Total other income (expense) .............................. (42,057) 151,292 563,320
Income (loss) before income taxes .............................. 2,218,051 (383,213) 1,671,432
Income tax expense (benefit) .................................. 755,427 (129,298) 585,546
Net income (loss) ........................................... 1,462,624 (253,915) 1,085,886
Income attributable to non-controlling interests .................... (92) — —
Net Income (Loss) Attributable to MasterCard .................. $1,462,532 $ (253,915) $1,085,886
Basic Earnings (Loss) per Share (Note 2) ....................... $ 11.19 $ (1.94) $ 7.98
Basic Weighted Average Shares Outstanding (Note 2) ............ 129,838 130,148 134,887
Diluted Earnings (Loss) per Share (Note 2) ..................... $ 11.16 $ (1.94) $ 7.96
Diluted Weighted Average Shares Outstanding (Note 2) .......... 130,232 130,148 135,153
The accompanying notes are an integral part of these consolidated financial statements.
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