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Income Statement
Difficulty: Beginner
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.
AbbVie Inc., Consolidated Income Statement
USD $ in millions
Based on: 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-20), 10-K (filing date: 2014-02-21).
| Item | Description | The company |
|---|---|---|
| Net 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. | AbbVie Inc.’s net revenues increased from 2015 to 2016 and from 2016 to 2017. |
| Operating earnings | The net result for the period of deducting operating expenses from operating revenues. | AbbVie Inc.’s operating earnings increased from 2015 to 2016 and from 2016 to 2017. |
| Earnings before income tax expense | 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. | AbbVie Inc.’s earnings before income tax expense increased from 2015 to 2016 but then slightly declined from 2016 to 2017. |
| Net earnings | The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. | AbbVie Inc.’s net earnings increased from 2015 to 2016 but then slightly declined from 2016 to 2017 not reaching 2015 level. |