Walgreens Boots Alliance Inc. (WBA)


Income Statement
Quarterly Data

Beginner level

The income statement presents information on the financial results of a company’s 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.

Walgreens Boots Alliance Inc., consolidated income statement (quarterly data)

US$ in millions

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3 months ended Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
Sales 34,339  33,954  34,591  34,528  33,793  33,442  34,334  33,021  30,740  30,149  30,118  29,446  28,501  28,636  29,498  30,184  29,033  28,522  28,795  26,573  19,554  19,057  19,401  19,605  18,329 
Cost of sales (27,076) (26,726) (27,138) (26,774) (26,152) (25,867) (26,554) (24,925) (23,399) (22,809) (22,973) (21,885) (21,385) (21,481) (22,065) (22,317) (21,614) (21,257) (21,314) (19,691) (14,258) (13,730) (13,961) (13,955) (13,177)
Gross profit 7,263  7,228  7,453  7,754  7,641  7,575  7,780  8,096  7,341  7,340  7,145  7,561  7,116  7,155  7,433  7,867  7,419  7,265  7,481  6,882  5,296  5,327  5,440  5,650  5,152 
Selling, general and administrative expenses (6,262) (6,407) (6,235) (6,320) (6,280) (6,113) (6,231) (6,318) (5,907) (6,218) (5,712) (6,124) (5,686) (6,049) (5,903) (6,007) (5,951) (6,429) (6,080) (5,606) (4,456) (4,493) (4,551) (4,569) (4,379)
Equity earnings (loss) in AmerisourceBergen 12  57  (15) 83  39  49  52  202  (112) (8) 84  42  17  34  —  —  —  —  —  —  —  —  —  — 
Equity earnings in Alliance Boots —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  101  214  135  137  194  151 
Operating income 1,013  878  1,203  1,517  1,400  1,511  1,601  1,980  1,322  1,114  1,517  1,479  1,447  1,140  1,533  1,860  1,468  836  1,401  1,377  1,054  969  1,026  1,275  924 
Gain on previously held equity interest —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (143) —  706  —  —  —  —  — 
Other income (expense) 35  182  19  26  309  (4) (137) 11  (8) (15) 264  28  (496) (57) (479) 461  504  199  (771) 124  (59) 225 
Earnings before interest and income tax provision 1,048  884  1,385  1,536  1,426  1,820  1,597  1,989  1,185  1,125  1,509  1,464  1,448  1,404  1,561  1,364  1,411  214  1,862  2,587  1,253  198  1,150  1,216  1,149 
Interest expense, net (166) (176) (187) (180) (161) (159) (157) (151) (149) (193) (155) (172) (173) (171) (147) (140) (138) (255) (151) (144) (55) (43) (35) (37) (41)
Earnings before income tax provision 882  708  1,198  1,356  1,265  1,661  1,440  1,838  1,036  932  1,354  1,292  1,275  1,233  1,414  1,224  1,273  (41) 1,711  2,443  1,198  155  1,115  1,179  1,108 
Income tax provision (32) (26) (156) (226) (180) (159) (109) (503) (227) (126) (168) (246) (220) (207) (322) (301) (167) 64  (408) (391) (321) (360) (351) (411) (404)
Post tax earnings (loss) from other equity method investments (8) (5) 15  12  15  14  13  (21) 16  12  15  11  —  —  —  —  — 
Net earnings 842  687  1,037  1,138  1,100  1,514  1,346  1,349  822  807  1,165  1,062  1,067  1,035  1,107  932  1,117  32  1,310  2,060  877  (205) 764  768  704 
Net (earnings) loss attributable to noncontrolling interests (9) (12) 18  23  (2) (4) —  (1) (5) (3) (2) (13) (5) (4) (2) (7) (6) (8) (18) (27) (34) (42) (14) (9)
Net earnings attributable to Walgreens Boots Alliance, Inc. 845  678  1,025  1,156  1,123  1,512  1,342  1,349  821  802  1,162  1,060  1,054  1,030  1,103  930  1,110  26  1,302  2,042  850  (239) 722  754  695 

Based on: 10-Q (filing date: 2020-01-08), 10-K (filing date: 2019-10-28), 10-Q (filing date: 2019-06-27), 10-Q (filing date: 2019-04-02), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-11), 10-Q (filing date: 2018-06-28), 10-Q (filing date: 2018-03-28), 10-Q (filing date: 2018-01-04), 10-K (filing date: 2017-10-25), 10-Q (filing date: 2017-06-29), 10-Q (filing date: 2017-04-05), 10-Q (filing date: 2017-01-05), 10-K (filing date: 2016-10-20), 10-Q (filing date: 2016-07-06), 10-Q (filing date: 2016-04-05), 10-Q (filing date: 2016-01-07), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-09), 10-Q (filing date: 2015-04-09), 10-Q (filing date: 2014-12-30), 10-K (filing date: 2014-10-20), 10-Q (filing date: 2014-07-01), 10-Q (filing date: 2014-03-27), 10-Q (filing date: 2013-12-27).

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. Walgreens Boots Alliance Inc.’s sales decreased from Q3 2019 to Q4 2019 but then increased from Q4 2019 to Q1 2020 not reaching Q3 2019 level.
Operating income The net result for the period of deducting operating expenses from operating revenues. Walgreens Boots Alliance Inc.’s operating income decreased from Q3 2019 to Q4 2019 but then slightly increased from Q4 2019 to Q1 2020.
Earnings before income tax provision 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. Walgreens Boots Alliance Inc.’s earnings before income tax provision decreased from Q3 2019 to Q4 2019 but then slightly increased from Q4 2019 to Q1 2020.
Net earnings attributable to Walgreens Boots Alliance, Inc. The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Walgreens Boots Alliance Inc.’s net earnings attributable to Walgreens Boots Alliance, Inc. decreased from Q3 2019 to Q4 2019 but then slightly increased from Q4 2019 to Q1 2020.