MasterCard 2011 Annual Report Download - page 142

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MASTERCARD INCORPORATED
SUMMARY OF QUARTERLY DATA (Unaudited)
2011 Quarter Ended
March 31 June 30 September 30 December 3112011 Total
(in millions, except per share amounts)
Revenues, net ............................... $1,501 $1,667 $1,818 $1,728 $6,714
Operating income (loss) ....................... 836 885 1,002 (10) 2,713
Net income attributable to MasterCard ............ 562 608 717 19 1,906
Basic earnings per share ....................... $ 4.31 $ 4.77 $ 5.65 $ 0.15 $14.90
Basic weighted average shares outstanding ........ 130 127 127 127 128
Diluted earnings per share ..................... $ 4.29 $ 4.76 $ 5.63 $ 0.15 $14.85
Diluted weighted average shares outstanding ....... 131 128 127 127 128
2010 Quarter Ended
March 31 June 30 September 30 December 31 2010 Total
(in millions, except per share amounts)
Revenues, net ............................... $1,308 $1,365 $1,428 $1,438 $5,539
Operating income ............................ 700 717 766 569 2,752
Net income attributable to MasterCard ............ 455 458 518 415 1,846
Basic earnings per share ....................... $ 3.47 $ 3.50 $ 3.96 $ 3.17 $14.10
Basic weighted average shares outstanding ........ 130 131 131 131 131
Diluted earnings per share ..................... $ 3.46 $ 3.49 $ 3.94 $ 3.16 $14.05
Diluted weighted average shares outstanding ....... 131 131 131 131 131
1Financial results for the three months ended December 31, 2011 include a $770 million charge for the U.S.
merchant litigation. See Note 20 (Legal and Regulatory Proceedings) to the consolidated financial
statements included in Part II, Item 8 of this Report for further discussion.
Our fourth quarter results typically include higher customer and merchant incentives, which are recorded as
contra-revenue, due to higher contract renewal activity and increased purchase volume and promotional activity
related to the holiday shopping period, generally reducing our net revenue. The fourth quarter also generally
includes increased advertising and marketing expenses, primarily due to promotional activity related to the
holiday shopping period and the timing of advertising and promotional campaigns.
138