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Total one-day VaR for the combined risk categories was $290 million at June 30, 2011 and $235 million at June 30, 2010. The total VaR is 25% less at June 30, 2011, and 26% less at June 30, 2010, than the sum of the separate risk categories in the above table due to the diversification benefit of the combination of risks.
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

INCOME STATEMENTS

 









































(In millions, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 













Year Ended June 30,

 

2011

 

 

2010

 

 

2009

 













Revenue

 

$

  69,943

 

 

$

  62,484

 

 

$

  58,437

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

 

15,577

 

 

 

12,395

 

 

 

12,155

 

Research and development

 

 

9,043

 

 

 

8,714

 

 

 

9,010

 

Sales and marketing

 

 

13,940

 

 

 

13,214

 

 

 

12,879

 

General and administrative

 

 

4,222

 

 

 

4,063

 

 

 

4,030

 

 

 

 

 

 

 

 

 

 

 

Total operating expenses

 

 

42,782

 

 

 

38,386

 

 

 

38,074

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

 

27,161

 

 

 

24,098

 

 

 

20,363

 

Other income (expense)

 

 

910

 

 

 

915

 

 

 

(542

)

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

 

28,071

 

 

 

25,013

 

 

 

19,821

 

Provision for income taxes

 

 

4,921

 

 

 

6,253

 

 

 

5,252

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

23,150

 

 

$

18,760

 

 

$

14,569

 

 

 

 

 

 

 

 

 

 

 

 

 

 













Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

2.73

 

 

$

2.13

 

 

$

1.63

 

Diluted

 

$

2.69

 

 

$

2.10

 

 

$

1.62

 













Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

8,490

 

 

 

8,813

 

 

 

8,945

 

Diluted

 

 

8,593

 

 

 

8,927

 

 

 

8,996

 













Cash dividends declared per common share

 

$

0.64

 

 

$

0.52

 

 

$

0.52

 

 

 


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