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.

Baxter International Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011
Net sales	9,968)	16,671)	15,259)	14,190)	13,893)
Cost of sales	(5,822)	(8,514)	(7,664)	(6,889)	(6,847)
Gross margin	4,146)	8,157)	7,595)	7,301)	7,046)
Marketing and administrative expenses	(3,094)	(4,029)	(3,681)	(3,324)	(3,154)
Research and development expenses	(603)	(1,421)	(1,246)	(1,156)	(946)
Operating income	449)	2,707)	2,668)	2,821)	2,946)
Interest expense	(146)	(167)	(155)	(113)	(92)
Interest income	20)	22)	27)	26)	38)
Net interest expense	(126)	(145)	(128)	(87)	(54)
Foreign exchange	113)	—)	—)	—)	—)
Loss on debt extinguishment	(130)	—)	—)	—)	—)
Gain on litigation settlement	52)	—)	—)	—)	—)
Gain on sale of investments and other assets	38)	—)	—)	—)	—)
Other	32)	(123)	9)	155)	(83)
Other income (expense), net	105)	(123)	9)	155)	(83)
Income from continuing operations before income taxes	428)	2,439)	2,549)	2,889)	2,809)
Income tax expense	(35)	(493)	(537)	(563)	(553)
Income from continuing operations	393)	1,946)	2,012)	2,326)	2,256)
Income from discontinued operations, net of tax	575)	551)	—)	—)	—)
Net income	968)	2,497)	2,012)	2,326)	2,256)
Net income attributable to noncontrolling interests	—)	—)	—)	—)	(32)
Net income attributable to Baxter	968)	2,497)	2,012)	2,326)	2,224)

Based on: 10-K (reporting date: 2015-12-31), 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).

Download chart

Income statement item	Description	The company
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.	Baxter International Inc. net sales increased from 2013 to 2014 but then decreased significantly from 2014 to 2015.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Baxter International Inc. operating income increased from 2013 to 2014 but then decreased significantly from 2014 to 2015.
Income 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.	Baxter International Inc. income from continuing operations before income taxes decreased from 2013 to 2014 and from 2014 to 2015.
Net income attributable to Baxter	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Baxter International Inc. net income attributable to Baxter increased from 2013 to 2014 but then decreased significantly from 2014 to 2015.

Baxter International Inc. (NYSE:BAX)

Income Statement