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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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2013 2014 2013 2014
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(unaudited) (unaudited)
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Revenues $15,707 $18,103 $55,519 $66,001
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Costs and expenses:
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Cost of revenues (1) 6,253 6,921 21,993 25,691
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Research and development (1) 1,933 2,813 7,137 9,832
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Sales and marketing (1) 1,908 2,377 6,554 8,131
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General and administrative (1) 1,184 1,593 4,432 5,851
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Total costs and expenses 11,278 13,704 40,116 49,505
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Income from operations 4,429 4,399 15,403 16,496
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Interest and other income, net 112 128 496 763
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Income from continuing operations before income taxes
4,541 4,527 15,899 17,259
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Provision for income taxes 659 737 2,552 3,331
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Net income from continuing operations 3,882 3,790 13,347 13,928
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Net income (loss) from discontinued operations (1) (506) 967 (427) 516
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Net income $3,376 $4,757 $12,920 $14,444
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Net income (loss) per share -- basic:
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Continuing operations $5.80 $5.58 $20.05 $20.61
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Discontinued operations (0.76) 1.43 (0.64) 0.76
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Net income per share - basic $5.04 $7.01 $19.41 $21.37
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Net income (loss) per share - diluted:
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Continuing operations $5.69 $5.50 $19.70 $20.27
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Discontinued operations (0.74) 1.41 (0.63) 0.75
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Net income per share - diluted $4.95 $6.91 $19.07 $21.02
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Shares used in per share calculation - basic 669,672 678,943 665,692 675,935
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Shares used in per share calculation - diluted 682,006 688,491 677,618 687,070
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(1) Includes stock-based compensation expense as follows:
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Cost of revenues $127 $171 $469 $535
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Research and development 466 631 1,641 2,200
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Sales and marketing 154 213 552 715
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General and administrative 126 186 465 725
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Discontinued operations 29 (14) 216 104
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Total stock-based compensation expense $902 $1,187 $3,343 $4,279