MasterCard 2011 Annual Report Download - page 82
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MASTERCARD INCORPORATED
CONSOLIDATED STATEMENT OF OPERATIONS
For the Years Ended December 31,
2011 2010 2009
(in millions, except per share data)
Revenues, net .................................................... $6,714 $5,539 $5,099
Operating Expenses
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
Other Income (Expense)
Investment income ................................................ 52 57 58
Interest expense .................................................. (25) (52) (115)
Other income (expense), net ......................................... 6 — 15
Total other income (expense) .................................... 33 5 (42)
Income before income taxes ......................................... 2,746 2,757 2,218
Income tax expense ............................................... 842 910 755
Net income ...................................................... 1,904 1,847 1,463
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
Basic Weighted Average Shares Outstanding ........................... 128 131 130
Diluted Earnings per Share ........................................ $14.85 $14.05 $11.16
Diluted Weighted Average Shares Outstanding .......................... 128 131 130
The accompanying notes are an integral part of these consolidated financial statements.
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