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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Merchant revenues $ 2,004,432 $ 1,691,640 $ 1,447,576
Agency revenues 2,339,253 1,380,603 868,395
Other revenues 11,925 12,662 22,241
Total revenues 4,355,610 3,084,905 2,338,212
Cost of revenues 1,275,730 1,175,934 1,077,449
Gross profit 3,079,880 1,908,971 1,260,763
Operating expenses:      
Advertising - Online 919,214 552,140 365,381
Advertising - Offline 35,470 35,714 36,270
Sales and marketing 162,690 116,303 81,238
Personnel, including stock-based compensation of $65,724, $68,200, and $40,671, respectively 352,295 270,071 180,152
General and administrative 123,652 81,185 68,555
Information technology 33,813 20,998 19,139
Depreciation and amortization 53,824 45,763 39,193
Total operating expenses 1,680,958 1,122,174 789,928
Operating income 1,398,922 786,797 470,835
Other income (expense):      
Interest income 8,119 3,857 2,223
Interest expense (31,721) (29,944) (24,084)
Foreign currency transactions and other (7,526) (14,427) (6,672)
Total other income (expense) (31,128) (40,514) (28,533)
Earnings before income taxes and equity in income of investees 1,367,794 746,283 442,302
Income tax (expense) benefit (308,663) (218,141) 47,168
Equity in income of investees 0 0 2
Net income 1,059,131 528,142 489,472
Less: net income attributable to noncontrolling interests 2,760 601 0
Net income applicable to common stockholders $ 1,056,371 $ 527,541 $ 489,472
Net income applicable to common stockholders per basic common share (in dollars per share) $ 21.27 $ 11.00 $ 11.54
Weighted average number of basic common shares outstanding (in shares) 49,654 47,955 42,406
Net income applicable to common stockholders per diluted common share (in dollars per share) $ 20.63 $ 10.35 $ 9.88
Weighted average number of diluted common shares outstanding (in shares) 51,211 50,988 49,522