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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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Merck & Co. Inc., Consolidated Income Statement
USD $ in millions
| 12 months ended | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | Dec 31, 2006 | |
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Materials and production | |
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Marketing and administrative | |
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Research and development | |
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Restructuring costs | |
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U.S. Vioxx Settlement Agreement charge | |
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Operating income | |
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Equity income from affiliates | |
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Interest income | |
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Interest expense | |
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Exchange gains (losses) | |
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Other, net | |
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Other income (expense), net | |
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Income before taxes | |
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Taxes on income | |
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Net income | |
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Net income attributable to noncontrolling interests | |
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Net income attributable to Merck & Co., Inc. | |
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| Item | Description | The company |
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| 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. | Merck & Co. Inc.'s sales increased from 2008 to 2009 and from 2009 to 2010. |
| Operating income | The net result for the period of deducting operating expenses from operating revenues. | Merck & Co. Inc.'s operating income declined from 2008 to 2009 and from 2009 to 2010. |
| Income 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. | Merck & Co. Inc.'s income before taxes increased from 2008 to 2009 but then declined significantly from 2009 to 2010. |
| Net income | The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. | Merck & Co. Inc.'s net income increased from 2008 to 2009 but then declined significantly from 2009 to 2010. |
| Net income attributable to Merck & Co., Inc. | 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. | Merck & Co. Inc.'s net income attributable to Merck & Co., Inc. increased from 2008 to 2009 but then declined significantly from 2009 to 2010. |
February 8, 2012