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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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Monsanto Co., Consolidated Income Statement
USD $ in millions
| 12 months ended | Aug 31, 2011 | Aug 31, 2010 | Aug 31, 2009 | Aug 31, 2008 | Aug 31, 2007 | Aug 31, 2006 | |
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Net sales | |
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Cost of goods sold | |
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Gross profit | |
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Selling, general and administrative expenses | |
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Research and development expenses | |
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Acquired in-process research and development | |
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Restructuring charges (reversals), net | |
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Operating expenses | |
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Income from operations | |
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Interest expense | |
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Interest income | |
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Solutia-related income (expenses), net | |
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Other expense, net | |
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Income from continuing operations before income taxes | |
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Income tax provision | |
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Income from continuing operations including portion attributable to noncontrolling interest | |
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Income on discontinued operations | |
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Income before cumulative effect of accounting change | |
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Cumulative effect of a change in accounting principle, net of tax | |
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Net income | |
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Net income attributable to noncontrolling interest | |
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Net income attributable to Monsanto Company | |
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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. | Monsanto Co.'s net sales declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
| Income from operations | The net result for the period of deducting operating expenses from operating revenues. | Monsanto Co.'s income from operations declined from 2009 to 2010 but then increased from 2010 to 2011 not reaching 2009 level. |
| Income from continuing operations 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. | Monsanto Co.'s income from continuing operations before income taxes declined from 2009 to 2010 but then increased from 2010 to 2011 not reaching 2009 level. |
| Income from continuing operations including portion attributable to noncontrolling interest | 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. | Monsanto Co.'s income from continuing operations including portion attributable to noncontrolling interest declined from 2009 to 2010 but then increased from 2010 to 2011 not reaching 2009 level. |
| Net income | The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. | Monsanto Co.'s net income declined from 2009 to 2010 but then increased from 2010 to 2011 not reaching 2009 level. |
| Net income attributable to Monsanto Company | 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. | Monsanto Co.'s net income attributable to Monsanto Company declined from 2009 to 2010 but then increased from 2010 to 2011 not reaching 2009 level. |
February 8, 2012