Amazon.com 2011 Annual Report Download - page 79

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Note 12—QUARTERLY RESULTS (UNAUDITED)
The following tables contain selected unaudited statement of operations information for each quarter of
2011 and 2010. The following information reflects all normal recurring adjustments necessary for a fair
presentation of the information for the periods presented. The operating results for any quarter are not necessarily
indicative of results for any future period. Our business is affected by seasonality, which historically has resulted
in higher sales volume during our fourth quarter. Unaudited quarterly results are as follows (in millions, except
per share data):
Year Ended December 31, 2011 (1)
Fourth
Quarter
Third
Quarter
Second
Quarter
First
Quarter
Net sales ................................................... $17,431 $10,876 $9,913 $9,857
Income before income taxes .................................... 273 130 225 307
Provision for income taxes ..................................... 86 67 49 89
Net income ................................................. 177 63 191 201
Basic earnings per share ....................................... $ 0.39 $ 0.14 $ 0.42 $ 0.44
Diluted earnings per share ..................................... $ 0.38 $ 0.14 $ 0.41 $ 0.44
Shares used in computation of earnings per share:
Basic .................................................. 455 454 453 451
Diluted ................................................. 462 461 460 459
Year Ended December 31, 2010 (1)
Fourth
Quarter
Third
Quarter
Second
Quarter
First
Quarter
Net sales ................................................... $12,948 $7,560 $6,566 $7,131
Income before income taxes .................................... 506 292 297 401
Provision for income taxes ..................................... 84 79 88 100
Net income ................................................. 416 231 207 299
Basic earnings per share ....................................... $ 0.93 $ 0.51 $ 0.46 $ 0.67
Diluted earnings per share ..................................... $ 0.91 $ 0.51 $ 0.45 $ 0.66
Shares used in computation of earnings per share:
Basic .................................................. 450 448 447 445
Diluted ................................................. 458 456 455 454
(1) The sum of quarterly amounts, including per share amounts, may not equal amounts reported for
year-to-date periods. This is due to the effects of rounding and changes in the number of weighted-average
shares outstanding for each period.
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