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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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POSCO, Consolidated Income Statement
USD $ in millions, translated from KRW ₩
| 12 months ended | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | Dec 31, 2006 | |
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Sales | |
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Cost of goods sold | |
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Gross profit | |
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Selling and administrative expenses | |
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Operating income | |
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Interest and dividend income | |
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Gain on foreign currency transactions | |
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Gain on foreign currency translation | |
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Gain on valuation of trading securities | |
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Gain on disposal of trading securities | |
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Gain on disposal of property, plant and equipment | |
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Gain on valuation of derivatives | |
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Gain on derivative transaction | |
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Equity in earnings of equity method accounted investees | |
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Gain on recovery of allowance for doubtful accounts | |
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Reversal of stock compensation expense | |
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Gain on disposal of other long-term assets | |
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Others | |
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Non-operating income | |
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Interest expense | |
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Other bad debt expense | |
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Loss on disposal of trading securities | |
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Loss on valuation of trading securities | |
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Loss on foreign currency transactions | |
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Loss on foreign currency translation | |
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Loss on derivative transaction | |
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Loss on valuation of derivatives | |
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Donations | |
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Loss on impairment of investments | |
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Loss on disposal of property, plant and equipment | |
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Loss on impairment of intangible assets | |
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Equity in losses of equity method accounted investees | |
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Others | |
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Non-operating expenses | |
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Net income before income tax expense and net income (loss) of consolidated subsidiaries before acquisition | |
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Income tax expense | |
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Net income (loss) of consolidated subsidiaries before acquisition | |
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Net income | |
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Net income (loss) attributable to non-controlling interest | |
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Net income attribute to controlling interest | |
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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. | POSCO's sales declined from 2008 to 2009 but then increased from 2009 to 2010 exceeding 2008 level. |
| Operating income | The net result for the period of deducting operating expenses from operating revenues. | POSCO's operating income declined from 2008 to 2009 but then increased from 2009 to 2010 not reaching 2008 level. |
| Net income before income tax expense and net income (loss) of consolidated subsidiaries before acquisition | 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. | POSCO's net income before income tax expense and net income (loss) of consolidated subsidiaries before acquisition declined from 2008 to 2009 but then increased from 2009 to 2010 not reaching 2008 level. |
| Net income | The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. | POSCO's net income declined from 2008 to 2009 but then increased from 2009 to 2010 exceeding 2008 level. |
| Net income attribute to controlling interest | 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. | POSCO's net income attribute to controlling interest declined from 2008 to 2009 but then increased from 2009 to 2010 exceeding 2008 level. |
February 8, 2012