| Item 6. |
Selected Consolidated Financial Data |
The following selected consolidated financial data should be read in conjunction with the consolidated financial statements and the notes thereto in Item 8 of Part II, “Financial Statements and
Supplementary Data,” and the information contained in Item 7 of Part II, “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Historical results are not necessarily indicative of future
results.
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| |
|
Year Ended December 31, |
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| |
|
2012 |
|
|
2011 |
|
|
2010 |
|
|
2009 |
|
|
2008 |
|
| |
|
(in millions, except per share data) |
|
| Statements of Operations: |
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|
|
|
|
|
|
|
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|
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|
|
|
|
|
|
| Net sales |
|
$ |
61,093 |
|
|
$ |
48,077 |
|
|
$ |
34,204 |
|
|
$ |
24,509 |
|
|
$ |
19,166 |
|
| Income from operations |
|
|
676 |
|
|
|
862 |
|
|
|
1,406 |
|
|
|
1,129 |
|
|
|
842 |
|
| Net income (loss) |
|
|
(39 |
) |
|
|
631 |
|
|
|
1,152 |
|
|
|
902 |
|
|
|
645 |
|
| Basic earnings per share (1) |
|
$ |
(0.09 |
) |
|
$ |
1.39 |
|
|
$ |
2.58 |
|
|
$ |
2.08 |
|
|
$ |
1.52 |
|
| Diluted earnings per share (1) |
|
$ |
(0.09 |
) |
|
$ |
1.37 |
|
|
$ |
2.53 |
|
|
$ |
2.04 |
|
|
$ |
1.49 |
|
| Weighted average shares used in computation of earnings per share: |
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|
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| Basic |
|
|
453 |
|
|
|
453 |
|
|
|
447 |
|
|
|
433 |
|
|
|
423 |
|
| Diluted |
|
|
453 |
|
|
|
461 |
|
|
|
456 |
|
|
|
442 |
|
|
|
432 |
|
| Statements of Cash Flows: |
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|
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|
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|
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|
|
| Net cash provided by operating activities |
|
$ |
4,180 |
|
|
$ |
3,903 |
|
|
$ |
3,495 |
|
|
$ |
3,293 |
|
|
$ |
1,697 |
|
| Purchases of property and equipment, including internal-use software and website development |
|
|
(3,785 |
) |
|
|
(1,811 |
) |
|
|
(979 |
) |
|
|
(373 |
) |
|
|
(333 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Free cash flow (2) |
|
$ |
395 |
|
|
$ |
2,092 |
|
|
$ |
2,516 |
|
|
$ |
2,920 |
|
|
$ |
1,364 |
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|
December 31, |
|
| |
|
2012 |
|
|
2011 |
|
|
2010 |
|
|
2009 |
|
|
2008 |
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| |
|
(in millions) |
|
| Balance Sheets: |
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|
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|
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| Total assets |
|
$ |
32,555 |
|
|
$ |
25,278 |
|
|
$ |
18,797 |
|
|
$ |
13,813 |
|
|
$ |
8,314 |
|
| Total long-term obligations |
|
|
5,361 |
|
|
|
2,625 |
|
|
|
1,561 |
|
|
|
1,192 |
|
|
|
896 |
|
| (1) |
For further discussion of earnings per share, see Item 8 of Part II, “Financial Statements and Supplementary Data—Note 1—Description of Business and
Accounting Policies.” |
| (2) |
Free cash flow, a non-GAAP financial measure, is defined as net cash provided by operating activities less purchases of property and equipment, including capitalized
internal-use software and website development, both of which are presented on our consolidated statements of cash flows. See Item 7 of Part II, “Management’s Discussion and Analysis of Financial Condition and Results of
Operations—Results of Operations—Non-GAAP Financial Measures.” |
17
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