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.

Biogen Inc., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Product, net	8,846,900)	10,692,200)	11,379,800)	10,886,800)	10,354,700)
Revenues from anti-CD20 therapeutic programs	1,658,500)	1,977,800)	2,290,400)	1,980,200)	1,559,200)
Other	476,300)	774,600)	707,700)	585,900)	360,000)
Revenue	10,981,700)	13,444,600)	14,377,900)	13,452,900)	12,273,900)
Cost of sales, excluding amortization and impairment of acquired intangible assets	(2,109,700)	(1,805,200)	(1,955,400)	(1,816,300)	(1,630,000)
Gross profit	8,872,000)	11,639,400)	12,422,500)	11,636,600)	10,643,900)
Research and development	(2,501,200)	(3,990,900)	(2,280,600)	(2,597,200)	(2,253,600)
Selling, general and administrative	(2,674,300)	(2,504,500)	(2,374,700)	(2,106,300)	(1,935,500)
Amortization and impairment of acquired intangible assets	(881,300)	(464,800)	(489,900)	(747,300)	(814,700)
Collaboration profit sharing	(7,200)	(232,900)	(241,600)	(185,000)	(112,300)
Gain (loss) on divestiture of Hillerød, Denmark manufacturing operations	—)	92,500)	(55,300)	—)	—)
Gain (loss) on fair value remeasurement of contingent consideration	50,700)	86,300)	63,700)	12,300)	(62,700)
Acquired in-process research and development	(18,000)	(75,000)	—)	(112,500)	(120,000)
Restructuring charges	—)	—)	(1,500)	(12,000)	(900)
Income from operations	2,840,700)	4,550,100)	7,042,600)	5,888,600)	5,344,200)
Interest income	11,000)	42,000)	120,000)	112,500)	78,500)
Interest expense	(253,600)	(222,500)	(187,400)	(200,600)	(250,800)
Gain (loss) on investments, net	(824,900)	685,700)	204,700)	119,500)	(36,300)
Foreign exchange gains (losses), net	(22,400)	(10,700)	(7,000)	(9,900)	6,300)
Other, net	(5,600)	2,900)	(47,000)	(10,500)	(13,100)
Other income (expense), net	(1,095,500)	497,400)	83,300)	11,000)	(215,400)
Income before equity in income (loss) of investee and income tax expense	1,745,200)	5,047,500)	7,125,900)	5,899,600)	5,128,800)
Equity in income (loss) of investee, net of tax	34,900)	5,300)	(79,400)	—)	—)
Income before income tax expense	1,780,100)	5,052,800)	7,046,500)	5,899,600)	5,128,800)
Income tax expense	(52,500)	(992,300)	(1,158,000)	(1,425,600)	(2,458,700)
Net income	1,727,600)	4,060,500)	5,888,500)	4,474,000)	2,670,100)
Net income attributable to noncontrolling interests, net of tax	(171,500)	(59,900)	—)	(43,300)	(131,000)
Net income attributable to Biogen Inc.	1,556,100)	4,000,600)	5,888,500)	4,430,700)	2,539,100)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Income statement item	Description	The company
Revenue	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.	Biogen Inc. revenue decreased from 2019 to 2020 and from 2020 to 2021.
Income from operations	The net result for the period of deducting operating expenses from operating revenues.	Biogen Inc. income from operations decreased from 2019 to 2020 and from 2020 to 2021.
Income before income tax expense	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.	Biogen Inc. income before income tax expense decreased from 2019 to 2020 and from 2020 to 2021.
Net income attributable to Biogen Inc.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Biogen Inc. net income attributable to Biogen Inc. decreased from 2019 to 2020 and from 2020 to 2021.

Biogen Inc. (NASDAQ:BIIB)

Income Statement