Stock Analysis on Net
Stock Analysis on Net
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Boston Scientific Corp. (NYSE:BSX)

Income Statement

Beginner level

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.

Boston Scientific Corp., consolidated income statement

US$ in millions

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12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net sales 10,735  9,823  9,048  8,386  7,477 
Cost of products sold (3,115) (2,812) (2,593) (2,424) (2,173)
Gross profit 7,620  7,011  6,455  5,962  5,304 
Selling, general and administrative expenses (3,941) (3,570) (3,294) (3,099) (2,873)
Research and development expenses (1,174) (1,113) (997) (920) (876)
Royalty expense (65) (70) (68) (79) (70)
Amortization expense (699) (599) (565) (545) (495)
Intangible asset impairment charges (105) (35) (4) (11) (19)
Contingent consideration (expense) benefit 35  21  80  (29) (123)
Restructuring charges (38) (36) (37) (28) (26)
Litigation-related charges (115) (103) (285) (804) (1,105)
Pension termination charges —  —  —  —  (44)
Operating expenses (6,102) (5,505) (5,170) (5,515) (5,631)
Operating income (loss) 1,518  1,506  1,285  447  (327)
Interest expense (473) (241) (229) (233) (284)
Other, net (358) 157  (123) (37) (39)
Other income (expense) (831) (84) (352) (270) (323)
Income (loss) before income taxes 687  1,422  933  177  (650)
Income tax (expense) benefit 4,013  249  (829) 170  411 
Net income (loss) 4,700  1,671  104  347  (239)

Based on: 10-K (filing date: 2020-02-25), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-24).

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. Boston Scientific Corp.’s net sales increased from 2017 to 2018 and from 2018 to 2019.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. Boston Scientific Corp.’s operating income (loss) increased from 2017 to 2018 and from 2018 to 2019.
Income (loss) 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. Boston Scientific Corp.’s income (loss) before income taxes increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.
Net income (loss) The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Boston Scientific Corp.’s net income (loss) increased from 2017 to 2018 and from 2018 to 2019.