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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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Walgreen 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 sales | |
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Gross profit | |
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Selling, general and administrative expenses | |
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Gain on sale of business | |
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Operating income | |
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Interest income | |
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Interest expense, net | |
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Interest income (expense), net | |
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Earnings before income tax provision | |
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Income tax provision | |
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Net earnings | |
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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. | Walgreen Co.'s net sales increased from 2009 to 2010 and from 2010 to 2011. |
| Operating income | The net result for the period of deducting operating expenses from operating revenues. | Walgreen Co.'s operating income increased from 2009 to 2010 and from 2010 to 2011. |
| Earnings before income tax provision | 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. | Walgreen Co.'s earnings before income tax provision increased from 2009 to 2010 and from 2010 to 2011. |
| Net earnings | 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. | Walgreen Co.'s net earnings increased from 2009 to 2010 and from 2010 to 2011. |
February 8, 2012