Income Statement

The income statement presents information on the financial results of a company 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.

Applied Materials Inc., consolidated income statement

US$ in millions

12 months ended:	Oct 29, 2023	Oct 30, 2022	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019	Oct 28, 2018
Net sales	26,517)	25,785)	23,063)	17,202)	14,608)	17,253)
Cost of products sold	(14,133)	(13,792)	(12,149)	(9,510)	(8,222)	(9,436)
Gross profit	12,384)	11,993)	10,914)	7,692)	6,386)	7,817)
Research, development and engineering	(3,102)	(2,771)	(2,485)	(2,234)	(2,054)	(2,019)
Marketing and selling	(776)	(703)	(609)	(526)	(521)	(521)
General and administrative	(852)	(735)	(620)	(567)	(461)	(481)
Severance and related charges	—)	4)	(157)	—)	—)	—)
Deal termination fee	—)	—)	(154)	—)	—)	—)
Operating expenses	(4,730)	(4,205)	(4,025)	(3,327)	(3,036)	(3,021)
Income from operations	7,654)	7,788)	6,889)	4,365)	3,350)	4,796)
Interest expense	(238)	(228)	(236)	(240)	(237)	(234)
Interest and other income, net	300)	39)	118)	41)	156)	132)
Income before income taxes	7,716)	7,599)	6,771)	4,166)	3,269)	4,694)
Provision for income taxes	(860)	(1,074)	(883)	(547)	(563)	(1,381)
Net income	6,856)	6,525)	5,888)	3,619)	2,706)	3,313)

Based on: 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27), 10-K (reporting date: 2018-10-28).

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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Applied Materials Inc. net sales increased from 2021 to 2022 and from 2022 to 2023.
Income from operations	The net result for the period of deducting operating expenses from operating revenues.	Applied Materials Inc. income from operations increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Applied Materials Inc. income before income taxes increased from 2021 to 2022 and from 2022 to 2023.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Applied Materials Inc. net income increased from 2021 to 2022 and from 2022 to 2023.

Applied Materials Inc. (NASDAQ:AMAT)

Income Statement