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Abbott Laboratories (ABT) | Income Statement

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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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Abbott Laboratories, Consolidated Income Statement

USD $ in thousands

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  12 months ended Dec 31, 2011 Dec 31, 2010 Dec 31, 2009 Dec 31, 2008 Dec 31, 2007
chart Net sales
chart Cost of products sold
chart Gross profit
chart Research and development
chart Acquired in-process and collaborations research and development
chart Selling, general and administrative
chart Operating earnings
chart Interest expense
chart Interest income
chart Income from the TAP Pharmaceutical Products Inc. joint venture
chart Net foreign exchange gain (loss)
chart Other income (expense), net
chart Earnings from continuing operations before taxes
chart Taxes on earnings
chart Earnings from continuing operations
chart Gain on sale of discontinued operations, net of taxes
chart Net earnings
Source: Abbott Laboratories, Annual Reports
Item Description The company
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. Abbott Laboratories's net sales increased from 2009 to 2010 and from 2010 to 2011.
Operating earnings The net result for the period of deducting operating expenses from operating revenues. Abbott Laboratories's operating earnings declined from 2009 to 2010 and from 2010 to 2011.
Earnings from continuing operations before 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. Abbott Laboratories's earnings from continuing operations before taxes declined from 2009 to 2010 and from 2010 to 2011.
Earnings from continuing operations 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. Abbott Laboratories's earnings from continuing operations declined from 2009 to 2010 but then slightly increased 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. Abbott Laboratories's net earnings declined from 2009 to 2010 but then slightly increased from 2010 to 2011.

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