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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.
Apple Inc., Consolidated Income Statement
USD $ in millions
| 12 months ended | Sep 30, 2017 | Sep 24, 2016 | Sep 26, 2015 | Sep 27, 2014 | Sep 28, 2013 | Sep 29, 2012 | |||||||
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| Other income (expense), net | |
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| Income before provision for income taxes | |
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| Provision for income taxes | |
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| Net income | |
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| Item | Description | The company |
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| 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. | Apple Inc.'s net sales declined from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level. |
| Operating income | The net result for the period of deducting operating expenses from operating revenues. | Apple Inc.'s operating income declined from 2015 to 2016 but then slightly increased from 2016 to 2017. |
| Income before provision for 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. | Apple Inc.'s income before provision for income taxes declined from 2015 to 2016 but then slightly increased 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. | Apple Inc.'s net income declined from 2015 to 2016 but then slightly increased from 2016 to 2017. |
