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.

Keurig Dr Pepper Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net sales	12,683)	11,618)	11,120)	7,442)
Cost of sales	(5,706)	(5,132)	(4,778)	(3,560)
Gross profit	6,977)	6,486)	6,342)	3,882)
Selling, general and administrative expenses	(4,153)	(3,978)	(3,962)	(2,635)
Impairment of intangible assets	—)	(67)	—)	—)
Other operating income (expense), net	70)	39)	(2)	(10)
Income from operations	2,894)	2,480)	2,378)	1,237)
Interest expense	(500)	(604)	(654)	(452)
Loss on early extinguishment of debt	(105)	(4)	(11)	(13)
Gain on sale of equity method investment	524)	—)	—)	—)
Impairment of investments and note receivable	(17)	(102)	—)	—)
Other income (expense), net	2)	(17)	(19)	19)
Income before provision for income taxes	2,798)	1,753)	1,694)	791)
Provision for income taxes	(653)	(428)	(440)	(202)
Net income including non-controlling interest	2,145)	1,325)	1,254)	589)
Net (income) loss attributable to non-controlling interest	1)	—)	—)	(3)
Net income attributable to KDP	2,146)	1,325)	1,254)	586)

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).

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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.	Keurig Dr Pepper Inc. net sales increased 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.	Keurig Dr Pepper Inc. income from operations increased from 2019 to 2020 and from 2020 to 2021.
Income before provision for 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.	Keurig Dr Pepper Inc. income before provision for income taxes increased from 2019 to 2020 and from 2020 to 2021.
Net income attributable to KDP	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Keurig Dr Pepper Inc. net income attributable to KDP increased from 2019 to 2020 and from 2020 to 2021.

Keurig Dr Pepper Inc. (NASDAQ:KDP)

Income Statement