.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.
Altria Group 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 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| | Net revenues | ||||||||||
| | Cost of sales | ||||||||||
| | Excise taxes on products | ||||||||||
| | Gross profit | | | | | | |||||
| | Marketing, administration and research costs | ||||||||||
| | Reduction of PMI tax-related receivable | ||||||||||
| | Asset impairment and exit costs | ||||||||||
| | Operating income | | | | | | |||||
| | Interest expense | ||||||||||
| | Interest income | ||||||||||
| | Interest related to NPM Adjustment Items | ||||||||||
| | Interest and other debt expense, net | | | | | | |||||
| | Loss on early extinguishment of debt | ||||||||||
| | Earnings from equity investment in AB InBev/SABMiller | ||||||||||
| | Gain on AB InBev/SABMiller business combination | ||||||||||
| | Earnings before income taxes | | | | | | |||||
| | (Provision) benefit for income taxes | ||||||||||
| | Net earnings | | | | | | |||||
| | Net earnings attributable to noncontrolling interests | ||||||||||
| | Net earnings attributable to Altria Group, Inc. | | | | | |
| Item | Description | The company |
|---|---|---|
| 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. | Altria Group Inc.'s net revenues increased from 2015 to 2016 but then slightly declined from 2016 to 2017 not reaching 2015 level. |
| Operating income | The net result for the period of deducting operating expenses from operating revenues. | Altria Group Inc.'s operating income increased from 2015 to 2016 and from 2016 to 2017. |
| Earnings before income taxes | 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. | Altria Group Inc.'s earnings before income taxes increased from 2015 to 2016 but then slightly declined from 2016 to 2017 not reaching 2015 level. |
| Net earnings | The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. | Altria Group Inc.'s net earnings increased from 2015 to 2016 but then slightly declined from 2016 to 2017. |
| Net earnings attributable to Altria Group, Inc. | 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. | Altria Group Inc.'s net earnings attributable to Altria Group, Inc. increased from 2015 to 2016 but then slightly declined from 2016 to 2017. |
