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.

Ross Stores Inc., consolidated income statement

US$ in thousands

12 months ended:	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017
Sales	18,916,244)	12,531,565)	16,039,073)	14,983,541)	14,134,732)	12,866,757)
Cost of goods sold	(13,708,907)	(9,838,574)	(11,536,187)	(10,726,277)	(10,042,638)	(9,173,705)
Gross profit	5,207,337)	2,692,991)	4,502,886)	4,257,264)	4,092,094)	3,693,052)
Selling, general and administrative	(2,874,469)	(2,503,281)	(2,356,704)	(2,216,550)	(2,043,698)	(1,890,408)
Operating earnings	2,332,868)	189,710)	2,146,182)	2,040,714)	2,048,396)	1,802,644)
Interest expense on long-term debt	(88,286)	(88,544)	(13,139)	(17,900)	(18,578)	(18,573)
Interest expense on short-term debt	—)	(7,863)	—)	—)	—)	—)
Other interest expense	(1,351)	(3,908)	(968)	(1,004)	(979)	(1,022)
Capitalized interest	14,476)	12,251)	4,367)	2,497)	710)	26)
Interest expense	(75,161)	(88,064)	(9,740)	(16,407)	(18,847)	(19,569)
Interest income	833)	4,651)	27,846)	26,569)	11,171)	3,081)
Interest income (expense), net	(74,328)	(83,413)	18,106)	10,162)	(7,676)	(16,488)
Earnings before taxes	2,258,540)	106,297)	2,164,288)	2,050,876)	2,040,720)	1,786,156)
Provision for taxes on earnings	(535,951)	(20,915)	(503,360)	(463,419)	(677,967)	(668,502)
Net earnings	1,722,589)	85,382)	1,660,928)	1,587,457)	1,362,753)	1,117,654)

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

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Income statement item	Description	The company
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.	Ross Stores Inc. sales decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Operating earnings	The net result for the period of deducting operating expenses from operating revenues.	Ross Stores Inc. operating earnings decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Earnings before 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.	Ross Stores Inc. earnings before taxes decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Net earnings	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Ross Stores Inc. net earnings decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Ross Stores Inc. (NASDAQ:ROST)

Income Statement