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.

Paramount Global, consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Revenues	30,154)	28,586)	25,285)	27,812)	14,514)
Operating costs and expenses	(19,845)	(17,744)	(14,992)	(17,223)	(9,111)
Gross profit	10,309)	10,842)	10,293)	10,589)	5,403)
Selling, general and administrative	(7,033)	(6,398)	(5,320)	(5,647)	(2,217)
Depreciation and amortization	(405)	(390)	(430)	(443)	(223)
Restructuring and other corporate matters	(585)	(100)	(618)	(775)	(195)
Net gain on dispositions	56)	2,343)	214)	549)	—)
Operating income	2,342)	6,297)	4,139)	4,273)	2,768)
Interest expense	(931)	(986)	(1,031)	(962)	(467)
Interest income	108)	53)	60)	66)	57)
Net gains (losses) from investments	(9)	47)	206)	113)	—)
Loss on extinguishment of debt	(120)	(128)	(126)	—)	—)
Pension and postretirement benefit costs	(65)	(43)	(69)	(105)	(63)
Foreign exchange losses	(58)	(26)	(35)	(17)	(3)
Pension settlement charge	—)	(10)	—)	—)	—)
Other	(1)	2)	3)	(23)	(3)
Other items, net	(124)	(77)	(101)	(145)	(69)
Earnings from continuing operations before income taxes and equity in loss of investee companies	1,266)	5,206)	3,147)	3,345)	2,289)
(Provision) benefit for income taxes	(227)	(646)	(535)	9)	(273)
Equity in loss of investee companies, net of tax	(204)	(91)	(28)	(53)	(56)
Net earnings from continuing operations	835)	4,469)	2,584)	3,301)	1,960)
Net earnings from discontinued operations, net of tax	379)	162)	117)	38)	—)
Net earnings, Paramount and noncontrolling interests	1,214)	4,631)	2,701)	3,339)	1,960)
Net earnings attributable to noncontrolling interests	(110)	(88)	(279)	(31)	—)
Net earnings attributable to Paramount	1,104)	4,543)	2,422)	3,308)	1,960)
Preferred stock dividends	(58)	(44)	—)	—)	—)
Net earnings attributable to Paramount common stock	1,046)	4,499)	2,422)	3,308)	1,960)

Based on: 10-K (reporting date: 2022-12-31), 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
Revenues	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.	Paramount Global revenues increased from 2020 to 2021 and from 2021 to 2022.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Paramount Global operating income increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Earnings from continuing operations before income taxes and equity in loss of investee companies	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.	Paramount Global earnings from continuing operations before income taxes and equity in loss of investee companies increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Net earnings attributable to Paramount	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Paramount Global net earnings attributable to Paramount increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.

Paramount Global (NASDAQ:PARA)

Income Statement