Amazon.com 2011 Annual Report Download - page 25

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Item 6. Selected Consolidated Financial Data
The following selected consolidated financial data should be read in conjunction with the consolidated
financial statements and the notes thereto in Item 8 of Part II, “Financial Statements and Supplementary Data,”
and the information contained in Item 7 of Part II, “Management’s Discussion and Analysis of Financial
Condition and Results of Operations.” Historical results are not necessarily indicative of future results.
Year Ended December 31,
2011 2010 2009 2008 2007
(in millions, except per share data)
Statements of Operations:
Net sales ......................................... $48,077 $34,204 $24,509 $19,166 $14,835
Income from operations ............................. 862 1,406 1,129 842 655
Net income ....................................... 631 1,152 902 645 476
Basic earnings per share (1) .......................... $ 1.39 $ 2.58 $ 2.08 $ 1.52 $ 1.15
Diluted earnings per share (1) ........................ $ 1.37 $ 2.53 $ 2.04 $ 1.49 $ 1.12
Weighted average shares used in computation of earnings
per share:
Basic ............................................ 453 447 433 423 413
Diluted .......................................... 461 456 442 432 424
Statements of Cash Flows:
Net cash provided by operating activities ............... $ 3,903 $ 3,495 $ 3,293 $ 1,697 $ 1,405
Purchases of fixed assets, including internal-use software
and website development .......................... (1,811) (979) (373) (333) (224)
Free cash flow (2) .................................. $ 2,092 $ 2,516 $ 2,920 $ 1,364 $ 1,181
Year Ended December 31,
2011 2010 2009 2008 2007
(in millions)
Balance Sheets:
Total assets ....................................... $25,278 $18,797 $13,813 $ 8,314 $ 6,485
Total long-term obligations .......................... 2,625 1,561 1,192 896 1,574
(1) For further discussion of earnings per share, see Item 8 of Part II, “Financial Statements and Supplementary
Data—Note 1—Description of Business and Accounting Policies.”
(2) Free cash flow, a non-GAAP financial measure, is defined as net cash provided by operating activities less
purchases of fixed assets, including capitalized internal-use software and website development, both of
which are presented on our consolidated statements of cash flows. See Item 7 of Part II, “Management’s
Discussion and Analysis of Financial Condition and Results of Operations—Results of Operations—Non-
GAAP Financial Measures.”
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