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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.
Amgen Inc., Consolidated Income Statement
USD $ in millions
|12 months ended||Dec 31, 2017||Dec 31, 2016||Dec 31, 2015||Dec 31, 2014||Dec 31, 2013|
|Cost of sales|
|Gross profit from product sales|
|Research and development|
|Selling, general and administrative|
|Interest expense, net|
|Interest and other income, net|
|Income before income taxes|
|Provision for income taxes|
|Product 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.||Amgen Inc.'s product sales increased from 2015 to 2016 but then slightly declined from 2016 to 2017.|
|Operating income||The net result for the period of deducting operating expenses from operating revenues.||Amgen Inc.'s operating income increased from 2015 to 2016 and from 2016 to 2017.|
|Income 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.||Amgen Inc.'s income before income taxes increased from 2015 to 2016 and from 2016 to 2017.|
|Net income||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.||Amgen Inc.'s net income increased from 2015 to 2016 but then declined significantly from 2016 to 2017.|