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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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ArcelorMittal, 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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Sales | ![]() |
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Cost of sales | ![]() |
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Gross margin | ![]() |
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Selling, general and administrative | ![]() |
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Operating income (loss) | ![]() |
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Income from investments in associates and joint ventures | ![]() |
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Interest expense | ![]() |
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Interest income | ![]() |
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Fair value adjustment on Convertible Bonds and call options on ArcelorMittal shares | ![]() |
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Net gain (loss) on other derivative instruments | ![]() |
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Accretion of defined benefit obligations and other long term liabilities | ![]() |
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Net foreign exchange result and others | ![]() |
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Financing costs, net | ![]() |
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Income (loss) before taxes | ![]() |
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Income tax (expense) benefit | ![]() |
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Net income from continuing operations (including non-controlling interests) | ![]() |
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Discontinued operations, net of tax | ![]() |
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Net income (including non-controlling interests) | ![]() |
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Net (income) loss attributable to non-controlling interests | ![]() |
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Net income attributable to equity holders of the parent | ![]() |
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| Item | Description | The company |
|---|---|---|
| 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. | ArcelorMittal's sales increased from 2009 to 2010 and from 2010 to 2011. |
| Operating income (loss) | The net result for the period of deducting operating expenses from operating revenues. | ArcelorMittal's operating income (loss) increased from 2009 to 2010 and from 2010 to 2011. |
| Income (loss) 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. | ArcelorMittal's income (loss) before taxes increased from 2009 to 2010 and from 2010 to 2011. |
| Net income from continuing operations (including non-controlling interests) | 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. | ArcelorMittal's net income from continuing operations (including non-controlling interests) increased from 2009 to 2010 but then slightly declined from 2010 to 2011. |
| Net income (including non-controlling interests) | The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. | ArcelorMittal's net income (including non-controlling interests) increased from 2009 to 2010 but then slightly declined from 2010 to 2011. |
| Net income attributable to equity holders of the parent | 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. | ArcelorMittal's net income attributable to equity holders of the parent increased from 2009 to 2010 but then slightly declined from 2010 to 2011. |
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