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INCOME STATEMENTS
| In millions, except earnings per share |
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| Year Ended June 30 |
|
2000 |
|
|
|
2001 |
|
|
|
2002 |
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| |
|
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|
|
|
|
|
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| Revenue |
$ |
22,956 |
|
|
$ |
25,296 |
|
|
$ |
28,365 |
|
| Operating expenses: |
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|
|
|
|
|
|
|
|
| |
Cost of revenue |
|
3,002 |
|
|
|
3,455 |
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|
|
5,191 |
|
| |
Research and development |
|
3,772 |
|
|
|
4,379 |
|
|
|
4,307 |
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| |
Sales and marketing |
|
4,126 |
|
|
|
4,885 |
|
|
|
5,407 |
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| |
General and administrative |
|
1,050 |
|
|
|
857 |
|
|
|
1,550 |
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|
|
|
|
|
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| |
|
Total operating expenses |
|
11,950 |
|
|
|
13,576 |
|
|
|
16,455 |
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|
|
|
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| Operating income |
|
11,006 |
|
|
|
11,720 |
|
|
|
11,910 |
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| Losses on equity investees and other |
|
(57 |
) |
|
|
(159 |
) |
|
|
(92 |
) |
| Investment income/(loss) |
|
3,326 |
|
|
|
(36 |
) |
|
|
(305 |
) |
|
|
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|
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| Income before income taxes |
|
14,275 |
|
|
|
11,525 |
|
|
|
11,513 |
|
| Provision for income taxes |
|
4,854 |
|
|
|
3,804 |
|
|
|
3,684 |
|
|
|
|
|
|
|
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| Income before accounting change |
|
9,421 |
|
|
|
7,721 |
|
|
|
7,829 |
|
Cumulative effect of accounting change
(net of income taxes of $185) |
|
– |
|
|
|
(375 |
) |
|
|
– |
|
|
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|
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| Net income |
$ |
9,421 |
|
|
$ |
7,346 |
|
|
$ |
7,829 |
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| |
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| |
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| Basic earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
| |
Before accounting change |
$ |
1.81 |
|
|
$ |
1.45 |
|
|
$ |
1.45 |
|
| |
Cumulative effect of accounting change |
|
– |
|
|
|
(0.07 |
) |
|
|
– |
|
|
|
|
|
|
|
|
|
| |
$ |
1.81 |
|
|
$ |
1.38 |
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|
$ |
1.45 |
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| |
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| Diluted earnings per share: |
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|
|
|
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| |
Before accounting change |
$ |
1.70 |
|
|
$ |
1.38 |
|
|
$ |
1.41 |
|
| |
Cumulative effect of accounting change |
|
– |
|
|
|
(0.06 |
) |
|
|
– |
|
|
|
|
|
|
|
|
|
| |
$ |
1.70 |
|
|
$ |
1.32 |
|
|
$ |
1.41 |
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| |
|
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| Weighted average shares outstanding: |
|
|
|
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|
|
|
|
|
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| |
Basic |
|
5,189 |
|
|
|
5,341 |
|
|
|
5,406 |
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| |
|
|
|
|
|
|
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Diluted |
|
5,536 |
|
|
|
5,574 |
|
|
|
5,553 |
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| |
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|
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See accompanying notes.
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