Quarterly Financial Data

12 Months Ended

Dec. 31, 2014

Quarterly Financial Data [Abstract]

Quarterly Financial Information

Supplementary Data — Quarterly Financial Data — Unaudited

The following tables present certain unaudited consolidated quarterly financial information for each of the eight quarters ended December 31, 2014. This quarterly information has been prepared on the same basis as the Consolidated Financial Statements and includes all adjustments necessary to state fairly the information for the periods presented.

Quarterly Financial Data

(Unaudited, in millions, except per share amounts)

	Quarter Ended
	March 31			June 30		September 30		December 31
2014
Net revenues	$	4,262		$	4,366	$	4,353	$	4,921
Gross profit	$	2,911		$	2,974	$	2,964	$	3,321
Net income (loss)	$	(2,326	)	$	676	$	673	$	1,023
Net income (loss) per share-basic	(1.82		)	0.54		0.54		0.83
Net income (loss) per share-diluted	$	(1.82	)	$	0.53	$	0.54	$	0.82
Weighted-average shares:
Basic	1,276			1,258		1,242		1,230
Diluted	1,276			1,267		1,251		1,241

	Quarter Ended
	March 31		June 30		September 30(1)		December 31
2013
Net revenues	$	3,748	$	3,877	$	3,892	$	4,530
Gross profit	$	2,596	$	2,666	$	2,668	$	3,081
Net income	$	677	$	640	$	689	$	850
Net income per share-basic	$	0.52	$	0.49	$	0.53	$	0.66
Net income per share-diluted	$	0.51	$	0.49	$	0.53	$	0.65
Weighted-average shares:
Basic	1,295		1,297		1,295		1,295
Diluted	1,319		1,313		1,310		1,310

(1) The quarterly financial information includes a $75 million gain on the sale of our investments in RueLaLa and ShopRunner.