MasterCard 2011 Annual Report Download - page 2
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For the Years
Ended December 31
(in millions except per share and operating data) 2011 2010 2009
Statement of Operations
Revenues, Net $ 6,714 $ 5,539 $ 5,099
General and Administrative 2,196 1,857 1,942
Advertising and Marketing 841 782 756
Provision for Litigation Settlement 770 — —
Depreciation and Amortization 194 148 141
Total Operating Expenses 4,001 2,787 2,839
Operating Income 2,713 2,752 2,260
Total Other Income (Expense) 33 5 (42)
Income before Income Taxes 2,746 2,757 2,218
Income Tax Expense 842 910 755
Loss (Income) Attributable to Non-Controlling Interests 2(1) —
Net Income Attributable to MasterCard $ 1,906 $ 1,846 $ 1,463
Basic Earnings per Share $ 14.90 $ 14.10 $ 11.19
Diluted Earnings per Share $ 14.85 $ 14.05 $ 11.16
Balance Sheet Data (at period end)
Cash, Cash Equivalents and
Investment Securities — Current $ 4,949 $ 4,198 $ 2,879
Total Assets 10,693 8,837 7, 470
Long-Term Debt —— 22
Obligations Under Litigation Settlements 4 302 870
Equity 5,877 5,216 3,512
Operating Data
Gross Dollar Volume (in billions)1 $ 3,249 $ 2,723 $ 2,463
Processed Transactions (in millions)2 27,265 23,052 22,401
(1) The data for GDV is provided by MasterCard customers and includes information with respect to MasterCard-branded transactions that are
not processed by MasterCard and for which MasterCard does not earn significant revenues. GDV may be revised by MasterCard’s customers after
its original submission and these revisions may be material. GDV generated by Maestro and Cirrus cards is not included.
(2) Represents total number of transactions processed by MasterCard.
Summary Consolidated Financial and Other Data
All gures throughout this report in U.S. dollars