Consolidated Statements of Income

Three Years Ended December 25, 2010
(In Millions, Except Per Share Amounts)
  2010   2009   2008
                   
Net revenue   $ 43,623    $ 35,127    $ 37,586 
Cost of sales     15,132      15,566      16,742 
Gross margin     28,491      19,561      20,844 
Research and development     6,576      5,653      5,722 
Marketing, general and administrative     6,309      7,931      5,452 
Restructuring and asset impairment charges     —      231      710 
Amortization of acquisition-related intangibles     18      35     
Operating expenses     12,903      13,850      11,890 
Operating income     15,588      5,711      8,954 
Gains (losses) on equity method investments, net     117      (147)     (1,380)
Gains (losses) on other equity investments, net     231      (23)     (376)
Interest and other, net     109      163      488 
Income before taxes     16,045      5,704      7,686 
Provision for taxes     4,581      1,335      2,394 
Net income   $ 11,464    $ 4,369    $ 5,292 
Basic earnings per common share   $ 2.06    $ 0.79    $ 0.93 
Diluted earnings per common share   $ 2.01    $ 0.77    $ 0.92 
Weighted average common shares outstanding:                  
Basic
    5,555      5,557      5,663 
Diluted
    5,696      5,645      5,748 
See accompanying notes.

© 2011 Intel Corporation