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The income statement presents information on the financial results of a company's business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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ABB Ltd., Consolidated Income Statement
USD $ in millions
| 12 months ended | Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
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Sales of products | |
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Sales of services | |
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Revenues | |
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Cost of products | |
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Cost of services | |
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Cost of sales | |
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Gross profit | |
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Selling, general and administrative expenses | |
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Non-order related research and development expenses | |
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Other income (expense), net | |
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Earnings before interest and taxes | |
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Interest and dividend income | |
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Interest and other finance expense | |
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Income from continuing operations before taxes | |
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Provision for taxes | |
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Income from continuing operations, net of tax | |
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Income (loss) from discontinued operations, net of tax | |
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Net income | |
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Net income attributable to noncontrolling interests | |
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Net income attributable to ABB | |
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| Item | Description | The company |
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| Revenues | Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. | ABB Ltd.'s revenues declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
| Earnings before interest and taxes | The net result for the period of deducting operating expenses from operating revenues. | ABB Ltd.'s earnings before interest and taxes declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
| Income from continuing operations before taxes | Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. | ABB Ltd.'s income from continuing operations before taxes declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
| Income from continuing operations, net of tax | This represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. | ABB Ltd.'s income from continuing operations, net of tax declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
| Net income | The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. | ABB Ltd.'s net income declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
| Net income attributable to ABB | The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. | ABB Ltd.'s net income attributable to ABB declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
May 23, 2012