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Consolidated Income Statements (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues:      
Auction and related revenues $ 717,231 $ 791,738 $ 731,021
Finance revenues 17,707 12,038 9,685
Dealer revenues 26,180 21,790 29,092
License fee revenues 6,124 5,228 3,682
Other revenues 1,250 1,042 829
Total revenues 768,492 831,836 774,309
Expenses:      
Direct costs of services 65,665 69,507 60,940
Dealer cost of sales 21,118 23,738 24,889
Marketing expenses 17,857 15,059 12,207
Salaries and related costs 273,273 268,530 253,271
General and administrative expenses 158,220 161,097 132,566
Depreciation and amortization expense 17,942 17,604 16,492
Restructuring charges, net (2) 4,830 (54)
Total expenses 554,073 560,365 500,311
Operating income 214,419 271,471 273,998
Interest income 1,550 4,002 1,739
Interest expense (44,429) (41,498) (46,819)
Extinguishment of debt, net (15,020) (1,529) (6,291)
Other income (expense) 2,916 (1,057) 2,952
Income before taxes 159,436 231,389 225,579
Equity in earnings of investees, net of taxes 251 59 644
Income tax expense 51,395 60,032 65,273
Net income $ 108,292 $ 171,416 $ 160,950
Basic earnings per share - Sotheby’s common shareholders (usd per share) $ 1.59 $ 2.52 $ 2.37
Diluted earnings per share - Sotheby’s common shareholders (usd per share) $ 1.57 $ 2.46 $ 2.34
Cash dividends paid per common share (usd per share) $ 0.52 $ 0.23 $ 0.20