Amazon.com 2011 Annual Report Download - page 45

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AMAZON.COM, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data)
Year Ended December 31,
2011 2010 2009
Net product sales ................................................... $42,000 $30,792 $22,273
Net services sales ................................................... 6,077 3,412 2,236
Total net sales .............................................. 48,077 34,204 24,509
Operating expenses (1):
Cost of sales ................................................... 37,288 26,561 18,978
Fulfillment .................................................... 4,576 2,898 2,052
Marketing ..................................................... 1,630 1,029 680
Technology and content .......................................... 2,909 1,734 1,240
General and administrative ....................................... 658 470 328
Other operating expense (income), net .............................. 154 106 102
Total operating expenses ..................................... 47,215 32,798 23,380
Income from operations .............................................. 862 1,406 1,129
Interest income ..................................................... 61 51 37
Interest expense .................................................... (65) (39) (34)
Other income (expense), net ........................................... 76 79 29
Total non-operating income (expense) ............................... 72 91 32
Income before income taxes ........................................... 934 1,497 1,161
Provision for income taxes ............................................ (291) (352) (253)
Equity-method investment activity, net of tax ............................. (12) 7 (6)
Net income ........................................................ $ 631 $ 1,152 $ 902
Basic earnings per share .............................................. $ 1.39 $ 2.58 $ 2.08
Diluted earnings per share ............................................ $ 1.37 $ 2.53 $ 2.04
Weighted average shares used in computation of earnings per share:
Basic ......................................................... 453 447 433
Diluted ....................................................... 461 456 442
(1) Includes stock-based compensation as follows:
Fulfillment .................................................... $ 133 $ 90 $ 79
Marketing ..................................................... 39 27 20
Technology and content .......................................... 292 223 182
General and administrative ....................................... 93 84 60
See accompanying notes to consolidated financial statements.
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