THE GAP, INC. CONSOLIDATED STATEMENTS OF INCOME S and shares in millions except per share amounts) 2011 2010 $14,664 8,775 5,889 3,921 1,968 Net Sales Cost of goods sold and occupancy expenses Gross profit Operating expenses Operating income Interest expense (reversal) Interest income Income before income taxes Income taxes Net Income $14,549 9,275 5,274 3,836 1,438 74 1,982 778 $1,204 1,369 $833 Weighted-average number of shares-basic Weighted-average number of shares- diluted 529 533 636 641 Earnings per share- basic Earnings per share-diluted $1.57 $1.56 $1.89 $1.88 Cash dividends declared and paid per share 0.45 $0.40 THE GAP, INC. CONSOLIDATED STATEMENTS OF INCOME S and shares in millions except per share amounts) 2011 2010 $14,664 8,775 5,889 3,921 1,968 Net Sales Cost of goods sold and occupancy expenses Gross profit Operating expenses Operating income Interest expense (reversal) Interest income Income before income taxes Income taxes Net Income $14,549 9,275 5,274 3,836 1,438 74 1,982 778 $1,204 1,369 $833 Weighted-average number of shares-basic Weighted-average number of shares- diluted 529 533 636 641 Earnings per share- basic Earnings per share-diluted $1.57 $1.56 $1.89 $1.88 Cash dividends declared and paid per share 0.45 $0.40