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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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United Technologies Corp., Consolidated Income Statement
USD $ in millions
| 12 months ended | Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
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Product sales | |
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Service sales | |
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Net sales | |
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Cost of products sold | |
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Cost of services sold | |
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Gross profit | |
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Research and development | |
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Selling, general and administrative | |
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Other income, net | |
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Operating profit | |
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Interest expense | |
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Interest income | |
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Interest expense, net | |
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Income before income taxes | |
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Income tax expense | |
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Net income | |
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Noncontrolling interest in subsidiaries’ earnings | |
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Net income attributable to common shareowners | |
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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. | United Technologies Corp.'s net sales increased from 2009 to 2010 and from 2010 to 2011. |
| Operating profit | The net result for the period of deducting operating expenses from operating revenues. | United Technologies Corp.'s operating profit increased from 2009 to 2010 and from 2010 to 2011. |
| Income 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. | United Technologies Corp.'s income before income taxes increased from 2009 to 2010 and from 2010 to 2011. |
| Net income | The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. | United Technologies Corp.'s net income increased from 2009 to 2010 and from 2010 to 2011. |
| Net income attributable to common shareowners | 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. | United Technologies Corp.'s net income attributable to common shareowners increased from 2009 to 2010 and from 2010 to 2011. |
May 24, 2012