Total one-day VaR for the combined risk categories was $290 million at June 30, 2011 and $235 million at June 30, 2010. The total VaR is 25% less at June 30, 2011, and 26% less at June 30, 2010, than the sum of the separate risk categories in the above table due to the diversification benefit of the combination of risks.
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
INCOME STATEMENTS
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(In millions, except per share amounts)
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Year Ended June 30,
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2011
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2010
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2009
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Revenue
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$
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69,943
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$
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62,484
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$
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58,437
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Operating expenses:
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Cost of revenue
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15,577
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12,395
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12,155
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Research and development
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9,043
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8,714
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9,010
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Sales and marketing
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13,940
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13,214
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12,879
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General and administrative
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4,222
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4,063
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4,030
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Total operating expenses
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42,782
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38,386
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38,074
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Operating income
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27,161
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24,098
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20,363
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Other income (expense)
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910
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915
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(542
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)
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Income before income taxes
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28,071
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25,013
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19,821
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Provision for income taxes
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4,921
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6,253
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5,252
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Net income
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$
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23,150
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$
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18,760
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$
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14,569
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Earnings per share:
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Basic
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$
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2.73
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$
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2.13
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$
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1.63
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Diluted
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$
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2.69
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$
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2.10
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$
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1.62
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Weighted average shares outstanding:
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Basic
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8,490
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8,813
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8,945
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Diluted
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8,593
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8,927
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8,996
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Cash dividends declared per common share
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$
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0.64
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$
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0.52
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$
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0.52
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Directory: investor -> reportsreports -> United States Securities and Exchange Commission Washington, D. C. 20549 form 10-Kreports -> Dear shareholders, customers, partners and colleaguesreports -> To our shareholders, customers, partners and employeesinvestor -> Microsoft Financial Analyst Meeting 2013 Engineer Leader Panel Moderator: Tami Reller Julie Larson-Green, Kirill Tatarinov, Qi Lu, Satya Nadella, Terry Myerson Bellevue, Washington September 19, 2013 chris suh
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