Quarterly Information (Unaudited)
NOTE 22 — QUARTERLY INFORMATION (Unaudited)
|(In millions, except per share amounts)|
|Quarter Ended||September 30||December 31||March 31||June 30||Total|
|Fiscal Year 2011|
|Revenue||$ 16,195||$ 19,953||$ 16,428||$ 17,367||$ 69,943|
|Net income||5,410||6,634||5,232 (a)||5,874 (b)||23,150|
|Basic earnings per share||0.63||0.78||0.62||0.70||2.73|
|Diluted earnings per share||0.62||0.77||0.61||0.69||2.69|
|Fiscal Year 2010|
|Revenue||$ 12,920 (d)||$ 19,022 (c)||$ 14,503||$ 16,039||$ 62,484|
|Basic earnings per share||0.40||0.75||0.46||0.52||2.13|
|Diluted earnings per share||0.40||0.74||0.45||0.51||2.10|
(a) Includes a partial settlement of an I.R.S. audit of tax years 2004 to 2006, which increased net income by $461 million.
(b) Reflects an effective tax rate of 7% due mainly to the adjustment of our previously estimated effective tax rate for the year to reflect the actual full year mix of foreign and U.S. taxable income. In addition, upon completion of our annual domestic and foreign tax returns, we adjusted the estimated tax provision to reflect the tax returns filed and recorded an income tax benefit which lowered our effective tax rate.
(c) Reflects $1.7 billion of revenue recognized for sales of Windows Vista with a guarantee to be upgraded to Windows 7 at minimal or no cost and of Windows 7 to original equipment manufacturers and retailers before general availability (the “Windows 7 Deferral”).
(d) Reflects $1.5 billion of revenue deferred to future periods relating to the Windows 7 Deferral.