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.

Illumina Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Product revenue	2,735)	2,929)	2,749)	2,289)	2,032)
Service and other revenue	504)	614)	584)	463)	366)
Revenue	3,239)	3,543)	3,333)	2,752)	2,398)
Cost of product revenue	(788)	(802)	(738)	(679)	(534)
Cost of service and other revenue	(220)	(240)	(260)	(208)	(155)
Amortization of acquired intangible assets	(28)	(34)	(35)	(39)	(43)
Cost of revenue	(1,036)	(1,076)	(1,033)	(926)	(732)
Gross profit	2,203)	2,467)	2,300)	1,826)	1,666)
Research and development	(682)	(647)	(623)	(546)	(504)
Selling, general and administrative	(941)	(835)	(794)	(674)	(584)
Legal contingencies	—)	—)	—)	—)	9)
Operating expense	(1,623)	(1,482)	(1,417)	(1,220)	(1,079)
Income from operations	580)	985)	883)	606)	587)
Interest income	41)	75)	44)	19)	10)
Interest expense	(49)	(52)	(57)	(37)	(33)
Other income (expense), net	284)	110)	24)	455)	(2)
Other income (expense), net	276)	133)	11)	437)	(26)
Income before income taxes	856)	1,118)	894)	1,043)	561)
Provision for income taxes	(200)	(128)	(112)	(365)	(133)
Consolidated net income	656)	990)	782)	678)	428)
Net loss attributable to noncontrolling interests	—)	12)	44)	48)	35)
Net income attributable to Illumina stockholders	656)	1,002)	826)	726)	463)

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

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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.	Illumina Inc. revenue increased from 2018 to 2019 but then decreased significantly from 2019 to 2020.
Income from operations	The net result for the period of deducting operating expenses from operating revenues.	Illumina Inc. income from operations increased from 2018 to 2019 but then decreased significantly from 2019 to 2020.
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.	Illumina Inc. income before income taxes increased from 2018 to 2019 but then decreased significantly from 2019 to 2020.
Net income attributable to Illumina stockholders	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Illumina Inc. net income attributable to Illumina stockholders increased from 2018 to 2019 but then decreased significantly from 2019 to 2020.

Illumina Inc. (NASDAQ:ILMN)

Income Statement