See also
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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Verizon Communications Inc., Consolidated Income Statement
USD $ in millions
| Item | Description | The company |
|---|---|---|
| Operating revenues | 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. | Verizon Communications Inc.'s operating revenues declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
| Operating income | The net result for the period of deducting operating expenses from operating revenues. | Verizon Communications Inc.'s operating income increased from 2009 to 2010 but then declined significantly from 2010 to 2011. |
| Income before provision for income taxes, discontinued operations and extraordinary item | 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. | Verizon Communications Inc.'s income before provision for income taxes, discontinued operations and extraordinary item increased from 2009 to 2010 but then declined significantly from 2010 to 2011. |
| Income before discontinued operations and extraordinary item | 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. | Verizon Communications Inc.'s income before discontinued operations and extraordinary item declined 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. | Verizon Communications Inc.'s net income declined from 2009 to 2010 and from 2010 to 2011. |
| Net income attributable to Verizon | 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. | Verizon Communications Inc.'s net income attributable to Verizon declined from 2009 to 2010 and from 2010 to 2011. |
May 21, 2012
