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Income Statement

Difficulty: Beginner

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.

Amazon.com Inc., Consolidated Income Statement

USD $ in millions

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12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Net product sales 118,573  94,665  79,268  70,080  60,903 
Net services sales 59,293  41,322  27,738  18,908  13,549 
Net sales 177,866  135,987  107,006  88,988  74,452 
Cost of sales (111,934) (88,265) (71,651) (62,752) (54,181)
Gross profit 65,932  47,722  35,355  26,236  20,271 
Fulfillment (25,249) (17,619) (13,410) (10,766) (8,585)
Marketing (10,069) (7,233) (5,254) (4,332) (3,133)
Technology and content (22,620) (16,085) (12,540) (9,275) (6,565)
General and administrative (3,674) (2,432) (1,747) (1,552) (1,129)
Other operating expense, net (214) (167) (171) (133) (114)
Operating income 4,106  4,186  2,233  178  745 
Interest income 202  100  50  39  38 
Interest expense (848) (484) (459) (210) (141)
Other income (expense), net 346  90  (256) (118) (136)
Non-operating income (expense) (300) (294) (665) (289) (239)
Income (loss) before income taxes 3,806  3,892  1,568  (111) 506 
Provision for income taxes (769) (1,425) (950) (167) (161)
Equity-method investment activity, net of tax (4) (96) (22) 37  (71)
Net income (loss) 3,033  2,371  596  (241) 274 
Source: Amazon.com Inc., 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. Amazon.com Inc.'s net sales increased from 2015 to 2016 and from 2016 to 2017.
Operating income The net result for the period of deducting operating expenses from operating revenues. Amazon.com Inc.'s operating income increased from 2015 to 2016 but then slightly declined from 2016 to 2017.
Income (loss) before income 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. Amazon.com Inc.'s income (loss) before income taxes increased from 2015 to 2016 but then slightly declined from 2016 to 2017.
Net income (loss) 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. Amazon.com Inc.'s net income (loss) increased from 2015 to 2016 and from 2016 to 2017.