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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
|12 months ended||Dec 31, 2017||Dec 31, 2016||Dec 31, 2015||Dec 31, 2014||Dec 31, 2013|
|Cost of products sold|
|Selling, general and administrative|
|Research and development|
|Acquired in-process research and development|
|Interest expense, net|
|Net foreign exchange loss|
|Other income (expense), net|
|Earnings before income tax expense|
|Income tax expense|
|Net revenues||Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains.||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||Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and 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 consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes.||AbbVie Inc.'s net earnings increased from 2015 to 2016 but then slightly declined from 2016 to 2017 not reaching 2015 level.|