Operating income

[Zipporah Schumaker]

Net sales minus all direct and indirect operating costs and before deducting the cost of capital, extraordinary items and taxes.

[Mark Zuckerberg]

Operating revenues less operating expenses. Excludes items of other revenue and expense, such as equity in earnings of unconsolidated affiliates, dividends, interest income and expense, income taxes, extraordinary items, and cumulative effects of accounting changes.