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.

Allergan Inc., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011	Dec 31, 2010
Product net sales	7,126,100)	6,197,500)	5,708,800)	5,347,100)	4,819,600)
Cost of sales, excludes amortization of intangible assets	(842,400)	(795,800)	(775,500)	(748,700)	(722,000)
Amortization of intangible assets	(112,400)	(116,700)	(131,300)	(127,600)	(138,000)
Gross profit	6,171,300)	5,285,000)	4,802,000)	4,470,800)	3,959,600)
Other revenues	111,800)	102,900)	97,300)	72,000)	99,800)
Selling, general and administrative	(2,837,200)	(2,519,400)	(2,268,400)	(2,246,600)	(2,017,600)
Research and development	(1,191,600)	(1,042,300)	(989,600)	(902,800)	(804,600)
Legal settlement	—)	—)	—)	—)	(609,200)
Impairment of intangible assets and related costs	—)	(11,400)	(22,300)	(23,700)	(369,100)
Restructuring charges	(245,000)	(5,500)	(5,700)	(4,600)	(300)
Operating income	2,009,300)	1,809,300)	1,613,300)	1,365,100)	258,600)
Interest income	7,700)	6,800)	6,700)	6,900)	7,300)
Interest expense	(69,400)	(75,000)	(63,600)	(71,800)	(78,700)
Other, net	41,700)	(10,300)	(23,100)	(500)	(16,400)
Non-operating income (expense)	(20,000)	(78,500)	(80,000)	(65,400)	(87,800)
Earnings from continuing operations before income taxes	1,989,300)	1,730,800)	1,533,300)	1,299,700)	170,800)
Provision for income taxes	(456,700)	(458,300)	(430,800)	(361,600)	(165,900)
Earnings from continuing operations	1,532,600)	1,272,500)	1,102,500)	938,100)	4,900)
Earnings from discontinued operations, net of applicable income tax	—)	14,100)	—)	—)	—)
Loss on sale of discontinued operations, net of applicable income tax	(3,800)	(297,900)	—)	—)	—)
Discontinued operations	(3,800)	(283,800)	—)	—)	—)
Net earnings	1,528,800)	988,700)	1,102,500)	938,100)	4,900)
Net earnings attributable to noncontrolling interest	(4,600)	(3,600)	(3,700)	(3,600)	(4,300)
Net earnings attributable to Allergan, Inc.	1,524,200)	985,100)	1,098,800)	934,500)	600)

Based on: 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).

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Income statement item	Description	The company
Product net 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.	Allergan Inc. product net sales increased from 2012 to 2013 and from 2013 to 2014.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Allergan Inc. operating income increased from 2012 to 2013 and from 2013 to 2014.
Earnings from continuing operations before income 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.	Allergan Inc. earnings from continuing operations before income taxes increased from 2012 to 2013 and from 2013 to 2014.
Net earnings attributable to Allergan, Inc.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Allergan Inc. net earnings attributable to Allergan, Inc. decreased from 2012 to 2013 but then increased from 2013 to 2014 exceeding 2012 level.

Allergan Inc. (NYSE:AGN.)

Income Statement