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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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GlaxoSmithKline PLC, Consolidated Income Statement
USD $ in millions, translated from GBP £
| 12 months ended | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | Dec 31, 2006 | |
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Turnover | |
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Cost of sales | |
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Gross profit | |
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Selling, general and administration | |
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Research and development | |
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Royalty income | |
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Milestone income | |
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Impairment of equity investments | |
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Disposal of equity investments | |
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Disposal of other assets, asset rights and legal settlements | |
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Gain recognised on creation of ViiV Healthcare | |
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Fair value movements on derivative financial instruments | |
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Other income | |
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Other operating income | |
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Operating profit | |
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Interest income | |
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Realised gains on liquid investments | |
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Fair value movements on derivatives at fair value through profit or loss | |
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Net investment hedge ineffectiveness | |
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Unwinding of discounts on assets | |
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Finance income | |
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Interest expense | |
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Fair value hedges | |
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Fair value movements on other derivatives at fair value through profit or loss | |
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Reclassification of cash flow hedge from other comprehensive income | |
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Unwinding of discounts on provisions | |
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Net investment hedge ineffectiveness | |
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Other finance expense | |
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Finance costs | |
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Profit on disposal of interest in associates | |
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Share of after tax profits of associates and joint ventures | |
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Profit before taxation | |
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Taxation | |
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Profit after taxation for the year | |
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Profit attributable to non-controlling interests | |
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Profit attributable to shareholders | |
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| Item | Description | The company |
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| Turnover | 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. | GlaxoSmithKline PLC's turnover increased from 2008 to 2009 but then slightly declined from 2009 to 2010. |
| Operating profit | The net result for the period of deducting operating expenses from operating revenues. | GlaxoSmithKline PLC's operating profit increased from 2008 to 2009 but then declined significantly from 2009 to 2010. |
| Profit before taxation | 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. | GlaxoSmithKline PLC's profit before taxation increased from 2008 to 2009 but then declined significantly from 2009 to 2010. |
| Profit after taxation for the year | The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. | GlaxoSmithKline PLC's profit after taxation for the year increased from 2008 to 2009 but then declined significantly from 2009 to 2010. |
| Profit attributable to shareholders | 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. | GlaxoSmithKline PLC's profit attributable to shareholders increased from 2008 to 2009 but then declined significantly from 2009 to 2010. |
February 8, 2012