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Google Inc. | ||||||||||||||||
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CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||||||
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(In millions, except share amounts which are reflected in thousands and per share amounts) | ||||||||||||||||
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Three Months Ended | Twelve Months Ended | |||||||||||||||
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December 31, | December 31, | |||||||||||||||
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2011 | 2012 | 2011 | 2012 | |||||||||||||
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(unaudited) | (unaudited) | |||||||||||||||
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Revenues: | ||||||||||||||||
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Google (advertising and other) | $10,584 | $12,905 | $37,905 | $46,039 | ||||||||||||
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Motorola Mobile (hardware and other) | - | 1,514 | - | 4,136 | ||||||||||||
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Total revenues | 10,584 | 14,419 | 37,905 | 50,175 | ||||||||||||
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Costs and expenses: | ||||||||||||||||
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Cost of revenues - Google (advertising and other) (1) | 3,702 | 4,963 | 13,188 | 17,176 | ||||||||||||
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Cost of revenues - Motorola Mobile (hardware and other) (1) | - | 1,250 | - | 3,458 | ||||||||||||
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Research and development (1) | 1,298 | 1,935 | 5,162 | 6,793 | ||||||||||||
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Sales and marketing (1) | 1,268 | 1,751 | 4,589 | 6,143 | ||||||||||||
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General and administrative (1) | 809 | 1,126 | 2,724 | 3,845 | ||||||||||||
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Charge related to the resolution of Department of Justice investigation | - | - | 500 | - | ||||||||||||
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Total costs and expenses | 7,077 | 11,025 | 26,163 | 37,415 | ||||||||||||
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Income from operations | 3,507 | 3,394 | 11,742 | 12,760 | ||||||||||||
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Interest and other income, net | (18) | 152 | 584 | 626 | ||||||||||||
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Income from continuing operations before income taxes | 3,489 | 3,546 | 12,326 | 13,386 | ||||||||||||
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Provision for income taxes | 784 | 639 | 2,589 | 2,598 | ||||||||||||
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Net income from continuing operations | 2,705 | 2,907 | 9,737 | 10,788 | ||||||||||||
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Net loss from discontinued operations | - | (21) | - | (51) | ||||||||||||
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Net income | $2,705 | $2,886 | $9,737 | $10,737 | ||||||||||||
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Net income (loss) per share - basic: | ||||||||||||||||
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Continuing operations | $8.34 | $8.83 | $30.17 | $32.97 | ||||||||||||
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Discontinued operations | - | -0.06 | - | -0.16 | ||||||||||||
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Net income per share - basic | $8.34 | $8.77 | $30.17 | $32.81 | ||||||||||||
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Net income (loss) per share - diluted: | ||||||||||||||||
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Continuing operations | $8.22 | $8.68 | $29.76 | $32.46 | ||||||||||||
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Discontinued operations | - | -0.06 | - | -0.15 | ||||||||||||
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Net income per share - diluted | $8.22 | $8.62 | $29.76 | $32.31 | ||||||||||||
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Shares used in per share calculation - basic | 324,204 | 329,363 | 322,778 | 327,213 | ||||||||||||
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Shares used in per share calculation - diluted | 329,002 | 334,977 | 327,214 | 332,305 | ||||||||||||
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(1) Includes stock-based compensation expense as follows: | ||||||||||||||||
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Cost of revenues - Google (advertising and other) | $77 | $101 | $249 | $359 | ||||||||||||
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Cost of revenues - Motorola Mobile (hardware and other) | - | 4 | - | 14 | ||||||||||||
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Research and development | 266 | 364 | 1,061 | 1,325 | ||||||||||||
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Sales and marketing | 105 | 130 | 361 | 498 | ||||||||||||
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General and administrative | 88 | 109 | 303 | 453 | ||||||||||||
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$536 | $708 | $1,974 | $2,649 | |||||||||||||