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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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Vale S.A., 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 of ores and metals | ![]() |
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Aluminum products | ![]() |
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Revenues from logistic services | ![]() |
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Fertilizer products | ![]() |
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Others | ![]() |
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Operating revenues, net of discounts, returns and allowances | ![]() |
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Taxes on revenues | ![]() |
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Net operating revenues | ![]() |
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Cost of ores and metals sold | ![]() |
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Cost of aluminum products | ![]() |
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Cost of logistic services | ![]() |
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Cost of fertilizer products | ![]() |
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Others | ![]() |
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Gross profit | ![]() |
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Selling, general and administrative expenses | ![]() |
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Research and development expenses | ![]() |
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Gain on sale of assets | ![]() |
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Impairment of goodwill | ![]() |
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Others | ![]() |
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Operating income | ![]() |
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Financial income | ![]() |
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Financial expenses | ![]() |
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Gains (losses) on derivatives, net | ![]() |
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Foreign exchange and indexation gains (losses), net | ![]() |
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Gain (loss) on sale of investments | ![]() |
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Non-operating income (expenses) | ![]() |
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Income before discontinued operations, income taxes and equity results | ![]() |
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Income taxes | ![]() |
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Equity in results of affiliates, joint ventures and other investments | ![]() |
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Net income from continuing operations | ![]() |
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Discontinued operations, net of tax | ![]() |
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Net income | ![]() |
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Net (income) loss attributable to noncontrolling interests | ![]() |
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Net income attributable to the Company’s stockholders | ![]() |
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| Item | Description | The company |
|---|---|---|
| Operating revenues, net of discounts, returns and allowances | 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. | Vale S.A.'s operating revenues, net of discounts, returns and allowances 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. | Vale S.A.'s operating income increased from 2009 to 2010 and from 2010 to 2011. |
| Income before discontinued operations, income taxes and equity results | 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. | Vale S.A.'s income before discontinued operations, income taxes and equity results increased from 2009 to 2010 and from 2010 to 2011. |
| Net income 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. | Vale S.A.'s net income from continuing operations 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. | Vale S.A.'s net income increased from 2009 to 2010 and from 2010 to 2011. |
| Net income attributable to the Company’s stockholders | 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. | Vale S.A.'s net income attributable to the Company’s stockholders increased from 2009 to 2010 and from 2010 to 2011. |
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