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Celgene Corp. (CELG)

Common-Size Income Statement

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Celgene Corp., common-size consolidated income statement

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12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Net product sales 100.00 100.00 100.00 100.00 100.00
Cost of goods sold, excluding amortization of acquired intangible assets -3.85 -3.55 -3.92 -4.59 -5.10
Gross profit 96.15% 96.45% 96.08% 95.41% 94.90%
Other revenue 0.10 0.23 0.40 1.04 1.41
Research and development -37.16 -45.59 -39.97 -40.36 -32.13
Selling, general and administrative -21.29 -22.67 -23.76 -25.17 -26.81
Amortization of acquired intangible assets -3.07 -2.54 -4.10 -3.05 -3.41
Acquisition related gains (charges) and restructuring, net -0.73 10.41 -0.34 -3.27 -0.64
Operating income 34.01% 36.28% 28.31% 24.61% 33.30%
Interest and investment income, net 0.29 0.81 0.27 0.34 0.37
Interest expense -4.85 -4.02 -4.47 -3.39 -2.33
Other income (expense), net 2.21 0.18 -2.90 0.53 -0.58
Other income and expense -2.35% -3.03% -7.10% -2.52% -2.53%
Income before income taxes 31.65% 33.25% 21.21% 22.09% 30.77%
Income tax provision -5.15 -10.59 -3.34 -4.60 -4.33
Net income 26.51% 22.66% 17.87% 17.49% 26.44%

Based on: 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-07), 10-K (filing date: 2017-02-10), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-20).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Celgene Corp.’s operating income as a percentage of net product sales increased from 2016 to 2017 but then slightly declined from 2017 to 2018.
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. Celgene Corp.’s income before income taxes as a percentage of net product sales increased from 2016 to 2017 but then slightly declined from 2017 to 2018.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Celgene Corp.’s net income as a percentage of net product sales increased from 2016 to 2017 and from 2017 to 2018.