MasterCard 2012 Annual Report Download - page 78
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MASTERCARD INCORPORATED
CONSOLIDATED STATEMENT OF OPERATIONS
For the Years Ended December 31,
2012 2011 2010
(in millions, except per share data)
Revenues, net ................................................... $7,391 $6,714 $5,539
Operating Expenses
General and administrative ......................................... 2,429 2,196 1,857
Advertising and marketing .......................................... 775 841 782
Provision for litigation settlement .................................... 20 770 —
Depreciation and amortization ....................................... 230 194 148
Total operating expenses ....................................... 3,454 4,001 2,787
Operating income ................................................. 3,937 2,713 2,752
Other Income (Expense)
Investment income ................................................ 37 52 57
Interest expense .................................................. (20) (25) (52)
Other income (expense), net ........................................ (22) 6 —
Total other income (expense) .................................... (5) 33 5
Income before income taxes ........................................ 3,932 2,746 2,757
Income tax expense ............................................... 1,174 842 910
Net income ...................................................... 2,758 1,904 1,847
Loss (income) attributable to non-controlling interests .................... 1 2 (1)
Net Income Attributable to MasterCard ............................. $2,759 $1,906 $1,846
Basic Earnings per Share ......................................... $22.02 $14.90 $14.10
Basic Weighted-Average Shares Outstanding ........................... 125 128 131
Diluted Earnings per Share ........................................ $21.94 $14.85 $14.05
Diluted Weighted-Average Shares Outstanding ......................... 126 128 131
The accompanying notes are an integral part of these consolidated financial statements.
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