Consolidated Statements of Operations
Consolidated Statements of Operations
| Three Years Ended December 26, 2009 (In Millions, Except Per Share Amounts) |
2009 | 2008 | 2007 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Net revenue | $ | 35,127 | $ | 37,586 | $ | 38,334 | |||
| Cost of sales | 15,566 | 16,742 | 18,430 | ||||||
| Gross margin | 19,561 | 20,844 | 19,904 | ||||||
| Research and development | 5,653 | 5,722 | 5,755 | ||||||
| Marketing, general and administrative | 7,931 | 5,452 | 5,401 | ||||||
| Restructuring and asset impairment charges | 231 | 710 | 516 | ||||||
| Amortization of acquisition-related intangibles | 35 | 6 | 16 | ||||||
| Operating expenses | 13,850 | 11,890 | 11,688 | ||||||
| Operating income | 5,711 | 8,954 | 8,216 | ||||||
| Gains (losses) on equity method investments, net | (147) | (1,380) | 3 | ||||||
| Gains (losses) on other equity investments, net | (23) | (376) | 154 | ||||||
| Interest and other, net | 163 | 488 | 793 | ||||||
| Income before taxes | 5,704 | 7,686 | 9,166 | ||||||
| Provision for taxes | 1,335 | 2,394 | 2,190 | ||||||
| Net income | $ | 4,369 | $ | 5,292 | $ | 6,976 | |||
| Basic earnings per common share | $ | 0.79 | $ | 0.93 | $ | 1.20 | |||
| Diluted earnings per common share | $ | 0.77 | $ | 0.92 | $ | 1.18 | |||
| Weighted average common shares outstanding: | |||||||||
Basic |
5,557 | 5,663 | 5,816 | ||||||
Diluted |
5,645 | 5,748 | 5,936 | ||||||
| See accompanying notes. |