Income Statement

The income statement presents information on the financial results of a company 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.

Time Warner Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
Revenues	31,271)	29,318)	28,118)	27,359)	29,795)
Costs of revenues	(17,647)	(16,376)	(16,154)	(15,875)	(16,230)
Gross profit	13,624)	12,942)	11,964)	11,484)	13,565)
Selling, general and administrative	(5,438)	(5,123)	(4,824)	(5,190)	(6,465)
Amortization of intangible assets	(197)	(190)	(189)	(202)	(251)
Restructuring and severance costs	(120)	(117)	(60)	(512)	(246)
Asset impairments	(16)	(43)	(25)	(69)	(140)
Gain (loss) on operating assets, net	67)	78)	(1)	464)	142)
Operating income	7,920)	7,547)	6,865)	5,975)	6,605)
Interest income	209)	227)	219)	184)	93)
Interest expense	(1,214)	(1,388)	(1,382)	(1,353)	(1,283)
Interest expense, net	(1,005)	(1,161)	(1,163)	(1,169)	(1,190)
Investment gains (losses), net	300)	148)	(31)	30)	61)
Loss on equity method investees	(153)	(283)	(123)	(153)	(152)
Premiums paid and costs incurred on debt redemption	(1,087)	(1,008)	(72)	—)	—)
Other	(30)	(48)	(30)	(4)	(21)
Other loss, net	(970)	(1,191)	(256)	(127)	(112)
Income from continuing operations before income taxes	5,945)	5,195)	5,446)	4,679)	5,303)
Income tax provision	(701)	(1,281)	(1,651)	(785)	(1,749)
Income from continuing operations	5,244)	3,914)	3,795)	3,894)	3,554)
Discontinued operations, net of tax	—)	11)	37)	(67)	137)
Net income	5,244)	3,925)	3,832)	3,827)	3,691)
Net loss attributable to noncontrolling interests	3)	1)	1)	—)	—)
Net income attributable to Time Warner Inc. shareholders	5,247)	3,926)	3,833)	3,827)	3,691)

Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).

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Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Time Warner Inc. revenues increased from 2015 to 2016 and from 2016 to 2017.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Time Warner Inc. operating income increased from 2015 to 2016 and from 2016 to 2017.
Income from continuing operations before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Time Warner Inc. income from continuing operations before income taxes decreased from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.
Net income attributable to Time Warner Inc. shareholders	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Time Warner Inc. net income attributable to Time Warner Inc. shareholders increased from 2015 to 2016 and from 2016 to 2017.

Time Warner Inc. (NYSE:TWX)

Income Statement