Amazon.com 2015 Annual Report Download - page 81

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71
Note 12—QUARTERLY RESULTS (UNAUDITED)
The following tables contain selected unaudited statement of operations information for each quarter of 2015 and 2014.
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, 2015 (1)
Fourth
Quarter
Third
Quarter
Second
Quarter First
Quarter
N
et sales $ 35,747 $ 25,358 $ 23,185 $ 22,717
Income (loss) from operations 1,108 406 464 255
Income (loss) before income taxes 938 247 362 21
Provision for income taxes (453) (161) (266) (71)
Net income (loss) 482 79 92 (57)
Basic earnings per share 1.03 0.17 0.20 (0.12)
Diluted earnings per share 1.00 0.17 0.19 (0.12)
Shares used in computation of earnings per share:
Basic 470 468 467 465
Diluted 481 478 476 465
Year Ended December 31, 2014 (1)
Fourth
Quarter
Third
Quarter
Second
Quarter
First
Quarter
N
et sales $ 29,328 $ 20,579 $ 19,340 $ 19,741
Income (loss) from operations 591 (544) (15) 146
Income (loss) before income taxes 429 (634) (27) 120
Benefit (provision) for income taxes (205) 205 (94) (73)
Net income (loss) 214 (437) (126) 108
Basic earnings per share 0.46 (0.95) (0.27) 0.23
Diluted earnings per share 0.45 (0.95) (0.27) 0.23
Shares used in computation of earnings per share:
Basic 464 463 461 460
Diluted 472 463 461 468
___________________
(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.