Spreadsheet: a6a6dbe8-0e83-4a4d-876d-87037694536e
Sheet: TTM P&L - 12 quarters

ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Operations - Trailing Twelve Months (TTM)
(in millions, except per share data)
 |  |  |  | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4
 |  |  |  | FY10 | FY10 | FY10 | FY10 | FY11 | FY11 | FY11 | FY11 | FY12 | FY12 | FY12 | FY12
 |  |  |  | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM
 | Net revenue |  |  | 4052 | 3946 | 3535 | 3654 | 3825 | 3668 | 3478 | 3589 | 3773 | 3857 | 3865 | 4143
 |  | Cost of goods sold |  | 2152 | 2188 | 1917 | 1866 | 1767 | 1537 | 1469 | 1499 | 1517 | 1586 | 1552 | 1598
 | Gross profit |  |  | 1900 | 1758 | 1618 | 1788 | 2058 | 2131 | 2009 | 2090 | 2256 | 2271 | 2313 | 2545
 | Operating expenses:
 |  | Marketing and sales |  | 727 | 717 | 675 | 730 | 693 | 679 | 724 | 747 | 760 | 809 | 825 | 853
 |  | General and administrative |  | 314 | 313 | 315 | 320 | 328 | 314 | 305 | 301 | 301 | 312 | 335 | 375
 |  | Research and development |  | 1315 | 1259 | 1250 | 1229 | 1192 | 1153 | 1136 | 1153 | 1163 | 1204 | 1256 | 1212
 |  | Acquired in-process technology |  | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 |  | Acquisition-related contingent consideration |  | 0 | 0 | 0 | 2 | 4 | -24 | -23 | -17 | -17 | 28 | 16 | 11
 |  | Amortization of intangibles |  | 55 | 51 | 50 | 53 | 56 | 59 | 59 | 57 | 55 | 53 | 50 | 43
 |  | Certain abandoned acquisition-related costs |  | 21 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 |  | Goodwill impairment |  | 368 | 368 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 |  | Restructuring and other |  | 74 | 77 | 159 | 140 | 128 | 128 | 182 | 161 | 177 | 170 | 16 | 16
 |  |  | Total operating expenses | 2875 | 2786 | 2449 | 2474 | 2401 | 2309 | 2383 | 2402 | 2439 | 2576 | 2498 | 2510
 | Operating income (loss) |  |  | -975 | -1028 | -831 | -686 | -343 | -178 | -374 | -312 | -183 | -305 | -185 | 35
 | Gain (loss) on strategic investments, net |  |  | -72 | -46 | -20 | -26 | -15 | 21 | 22 | 23 | 28 | 0 | 0 | 0
 | Interest and other income (expense), net |  |  | 22 | 22 | 6 | 6 | 3 | 2 | 4 | 10 | 13 | 1 | -9 | -17
 | Income (loss) before provision for (benefit from) income taxes |  |  | -1025 | -1052 | -845 | -706 | -355 | -155 | -348 | -279 | -142 | -304 | -194 | 18
 | Provision for (benefit from) income taxes |  |  | 202 | 256 | -96 | -29 | -8 | 2 | 49 | -3 | 9 | -14 | -21 | -58
 | Net income (loss) |  |  | -1227 | -1308 | -749 | -677 | -347 | -157 | -397 | -276 | -151 | -290 | -173 | 76
 |  | GAAP diluted earnings (loss) per share |  | -3.82 | -4.06 | -2.31 | -2.08 | -1.08 | -0.48 | -1.2 | -0.84 | -0.47 | -0.89 | -0.54 | 0.23
GAAP Income Statements - as a % of Revenue
 |  |  |  | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4
 |  |  |  | FY10 | FY10 | FY10 | FY10 | FY11 | FY11 | FY11 | FY11 | FY12 | FY12 | FY12 | FY12
 |  |  |  | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM
 | Gross profit |  |  | 0.469 | 0.446 | 0.458 | 0.489 | 0.538 | 0.581 | 0.578 | 0.582 | 0.598 | 0.589 | 0.598 | 0.614
 | Operating expenses:
 |  | Marketing and sales |  | 0.179 | 0.182 | 0.191 | 0.2 | 0.181 | 0.185 | 0.208 | 0.208 | 0.201 | 0.21 | 0.213 | 0.206
 |  | General and administrative |  | 0.077 | 0.079 | 0.089 | 0.088 | 0.086 | 0.086 | 0.088 | 0.084 | 0.08 | 0.081 | 0.087 | 0.091
 |  | Research and development |  | 0.326 | 0.32 | 0.354 | 0.335 | 0.312 | 0.315 | 0.327 | 0.321 | 0.308 | 0.312 | 0.325 | 0.292
 |  | Acquisition-related contingent consideration |  | - | - | - | 0.001 | 0.001 | -0.007 | -0.007 | -0.005 | -0.005 | 0.007 | 0.004 | 0.003
 |  | Amortization of intangibles |  | 0.014 | 0.013 | 0.014 | 0.015 | 0.015 | 0.016 | 0.017 | 0.016 | 0.015 | 0.014 | 0.013 | 0.01
 |  | Certain abandoned acquisition-related costs |  | 0.005 | - | - | - | - | - | - | - | - | - | - | -
 |  | Goodwill impairment |  | 0.091 | 0.093 | - | - | - | - | - | - | - | - | - | -
 |  | Restructuring and other |  | 0.018 | 0.02 | 0.045 | 0.038 | 0.033 | 0.035 | 0.052 | 0.045 | 0.047 | 0.044 | 0.004 | 0.004
 |  |  | Total operating expenses | 0.71 | 0.707 | 0.693 | 0.677 | 0.628 | 0.63 | 0.685 | 0.669 | 0.646 | 0.668 | 0.646 | 0.606
 | Operating income (loss) |  |  | -0.241 | -0.261 | -0.235 | -0.188 | -0.09 | -0.049 | -0.107 | -0.087 | -0.048 | -0.079 | -0.048 | 0.008
 | Gain (loss) on strategic investments, net |  |  | -0.018 | -0.012 | -0.006 | -0.007 | -0.004 | 0.006 | 0.006 | 0.006 | 0.007 | - | - | -
 | Interest and other income (expense), net |  |  | 0.006 | 0.006 | 0.002 | 0.002 | 0.001 | 0.001 | 0.001 | 0.003 | 0.003 | - | -0.002 | -0.004
 | Income (loss) before provision for (benefit from) income taxes |  |  | -0.253 | -0.267 | -0.239 | -0.193 | -0.093 | -0.042 | -0.1 | -0.078 | -0.038 | -0.079 | -0.05 | 0.004
 | Provision for (benefit from) income taxes |  |  | 0.05 | 0.064 | -0.027 | -0.008 | -0.002 | 0.001 | 0.014 | -0.001 | 0.002 | -0.004 | -0.005 | -0.014
 | Net income (loss) |  |  | -0.303 | -0.331 | -0.212 | -0.185 | -0.091 | -0.043 | -0.114 | -0.077 | -0.04 | -0.075 | -0.04500000000000001 | 0.018
Non-GAAP Results (in millions)
The following tables reconcile the Company's net income (loss) and earnings (loss) per share as presented in its Unaudited Condensed Consolidated Statements of Operations - TTM and prepared in accordance with Generally Accepted Accounting Principles ("GAAP") to its non-GAAP net income and non-GAAP earnings per share.
 |  |  |  | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4
 |  |  |  | FY10 | FY10 | FY10 | FY10 | FY11 | FY11 | FY11 | FY11 | FY12 | FY12 | FY12 | FY12
 |  |  |  | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM
Net income (loss) |  |  |  | -1227 | -1308 | -749 | -677 | -347 | -157 | -397 | -276 | -151 | -290 | -173 | 76
 | Acquisition-related expenses |  |  | 459 | 433 | 61 | 65 | 70 | 45 | 47 | 52 | 50 | 98 | 94 | 106
 | Amortization of debt discount |  |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 9 | 14
 | Certain non-recurring litigation expenses |  |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 27
 | Change in deferred net revenue (packaged goods and digital content) |  |  | 241 | 368 | 383 | 505 | 57 | -49 | 205 | 239 | 40 | 106 | 339 | 43
 | Loss on lease obligation (G&A) |  |  | 0 | 14 | 14 | 14 | 14 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 | Loss on licensed intellectual property commitment (COGS) |  |  | 38 | 36 | 36 | -3 | -3 | -2 | -2 | -1 | -1 | 0 | 0 | 0
 | Loss (gain) on strategic investments, net |  |  | 72 | 46 | 20 | 26 | 15 | -21 | -22 | -23 | -28 | 0 | 0 | 0
 | Restructuring and other |  |  | 74 | 77 | 159 | 140 | 128 | 128 | 182 | 161 | 177 | 170 | 16 | 16
 | Stock-based compensation |  |  | 186 | 177 | 175 | 161 | 175 | 174 | 178 | 174 | 165 | 165 | 167 | 170
 | Income tax adjustments |  |  | 190 | 229 | -97 | -86 | -36 | -32 | -18 | -93 | -64 | -80 | -141 | -168
Non-GAAP Net income |  |  |  | 33 | 72 | 2 | 145 | 73 | 86 | 173 | 233 | 188 | 173 | 311 | 284
Non-GAAP Income Statements
 |  |  |  | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4
 |  |  |  | FY10 | FY10 | FY10 | FY10 | FY11 | FY11 | FY11 | FY11 | FY12 | FY12 | FY12 | FY12
 |  |  |  | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM
 | Net revenue |  |  | 4293 | 4314 | 3918 | 4159 | 3882 | 3619 | 3683 | 3828 | 3813 | 3963 | 4204 | 4186
 |  | Total cost of goods sold |  | 2098 | 2137 | 1868 | 1857 | 1758 | 1527 | 1457 | 1486 | 1504 | 1567 | 1523 | 1544
 | Gross profit |  |  | 2195 | 2177 | 2050 | 2302 | 2124 | 2092 | 2226 | 2342 | 2309 | 2396 | 2681 | 2642
 | Operating expenses:
 |  | Marketing and sales |  | 709 | 699 | 658 | 714 | 676 | 661 | 704 | 726 | 738 | 787 | 802 | 827
 |  | General and administrative |  | 272 | 260 | 264 | 273 | 274 | 274 | 264 | 261 | 264 | 276 | 298 | 312
 |  | Research and development |  | 1191 | 1141 | 1131 | 1119 | 1076 | 1039 | 1022 | 1042 | 1059 | 1099 | 1150 | 1106
 |  |  | Total operating expenses | 2172 | 2100 | 2053 | 2106 | 2026 | 1974 | 1990 | 2029 | 2061 | 2162 | 2250 | 2245
 | Operating income (loss) |  |  | 23 | 77 | -3 | 196 | 98 | 118 | 236 | 313 | 248 | 234 | 431 | 397
 | Interest and other income (expense), net |  |  | 22 | 22 | 6 | 6 | 3 | 2 | 4 | 10 | 13 | 5 | 0 | -3
 | Income before provision for income taxes |  |  | 45 | 99 | 3 | 202 | 101 | 120 | 240 | 323 | 261 | 239 | 431 | 394
 | Provision for income taxes |  |  | 12 | 27 | 1 | 57 | 28 | 34 | 67 | 90 | 73 | 66 | 120 | 110
 | Non-GAAP Net income |  |  | 33 | 72 | 2 | 145 | 73 | 86 | 173 | 233 | 188 | 173 | 311 | 284
 | Non-GAAP earnings per share
 | Diluted |  |  | 0.11 | 0.23 | 0 | 0.44 | 0.22 | 0.26 | 0.52 | 0.7 | 0.57 | 0.52 | 0.92 | 0.85
Non-GAAP Income Statements - as a % of Revenue
 |  |  |  | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4
 |  |  |  | FY10 | FY10 | FY10 | FY10 | FY11 | FY11 | FY11 | FY11 | FY12 | FY12 | FY12 | FY12
 |  |  |  | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM
 | Gross profit |  |  | 0.511 | 0.505 | 0.523 | 0.553 | 0.547 | 0.578 | 0.604 | 0.612 | 0.606 | 0.605 | 0.638 | 0.631
 | Operating expenses:
 |  | Marketing and sales |  | 0.165 | 0.162 | 0.168 | 0.172 | 0.174 | 0.183 | 0.191 | 0.19 | 0.194 | 0.199 | 0.191 | 0.198
 |  | General and administrative |  | 0.063 | 0.06 | 0.067 | 0.066 | 0.071 | 0.076 | 0.072 | 0.068 | 0.069 | 0.07 | 0.071 | 0.074
 |  | Research and development |  | 0.278 | 0.265 | 0.289 | 0.268 | 0.277 | 0.286 | 0.277 | 0.272 | 0.278 | 0.277 | 0.273 | 0.264
 |  |  | Total operating expenses | 0.506 | 0.487 | 0.524 | 0.506 | 0.522 | 0.545 | 0.54 | 0.53 | 0.541 | 0.546 | 0.535 | 0.536
 | Operating income (loss) |  |  | 0.005 | 0.018 | -0.001 | 0.047 | 0.025 | 0.033 | 0.064 | 0.082 | 0.065 | 0.059 | 0.103 | 0.095
 | Interest and other income (expense), net |  |  | 0.005 | 0.005 | 0.002 | 0.002 | 0.001 | - | 0.001 | 0.002 | 0.003 | 0.001 | - | -0.001
 | Income before provision for income taxes |  |  | 0.01 | 0.023 | 0.001 | 0.049 | 0.026 | 0.033 | 0.065 | 0.084 | 0.068 | 0.06 | 0.103 | 0.094
 | Provision for income taxes |  |  | 0.002 | 0.006 | - | 0.014 | 0.007 | 0.009 | 0.018 | 0.023 | 0.019 | 0.016 | 0.029 | 0.026
 | Non-GAAP Net income |  |  | 0.008 | 0.017 | 0.001 | 0.035 | 0.019 | 0.024 | 0.047 | 0.061 | 0.049 | 0.044 | 0.07399999999999998 | 0.068