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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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Medtronic Inc., Consolidated Income Statement
USD $ in millions
| 12 months ended | Apr 29, 2011 | Apr 30, 2010 | Apr 24, 2009 | Apr 25, 2008 | Apr 27, 2007 | Apr 28, 2006 | |
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Net sales | |
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Cost of products sold | |
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Gross profit | |
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Research and development expense | |
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Selling, general, and administrative expense | |
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Special charges | |
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Restructuring charges | |
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Certain litigation charges, net | |
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Acquisition-related items | |
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Other expense, net | |
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Earnings before interest and income taxes | |
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Interest income | |
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Interest expense | |
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Interest expense, net | |
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Earnings before income taxes | |
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Provision for income taxes | |
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Net earnings | |
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| Item | Description | The company |
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| Net sales | 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. | Medtronic Inc.'s net sales increased from 2009 to 2010 and from 2010 to 2011. |
| Earnings before interest and income taxes | The net result for the period of deducting operating expenses from operating revenues. | Medtronic Inc.'s earnings before interest and income taxes increased from 2009 to 2010 but then slightly declined from 2010 to 2011. |
| Earnings before income 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. | Medtronic Inc.'s earnings before income taxes increased from 2009 to 2010 but then slightly declined from 2010 to 2011. |
| Net earnings | 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. | Medtronic Inc.'s net earnings increased from 2009 to 2010 but then slightly declined from 2010 to 2011. |
February 8, 2012