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Income Statement

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Bristol-Myers Squibb Co., Consolidated Income Statement

USD $ in millions

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12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Net product sales 19,258  17,702  14,045  11,660  12,304 
Alliance and other revenues 1,518  1,725  2,515  4,219  4,081 
Revenues 20,776  19,427  16,560  15,879  16,385 
Cost of products sold (6,066) (4,946) (3,909) (3,932) (4,619)
Gross margin 14,710  14,481  12,651  11,947  11,766 
Marketing, selling and administrative (4,687) (4,911) (4,841) (4,822) (4,939)
Research and development (6,411) (4,940) (5,920) (4,534) (3,731)
Operating income 3,612  4,630  1,890  2,591  3,096 
Interest expense (196) (167) (184) (203) (199)
Interest income 154  105  101  101  104 
Provision for restructuring (293) (109) (118) (163) (226)
Litigation and other settlements 487  (47) (159) (23) (20)
Equity in net income of affiliates 75  77  83  107  166 
Divestiture gains 164  576  196  564 
Royalties and licensing income 1,351  719  383  283 
Transition and other service fees 37  238  122  170 
Other alliance and licensing income 148 
Pension charges (162) (91) (160) (877) (165)
Intangible asset impairment (15) (13) (29)
Equity investment impairment (5) (45)
Written option adjustment 123  (32)
Loss on debt redemption (109) (180) (45)
Other 16  44  (7) (63) (15)
Other income (expense), net 1,519  1,285  187  (210) (205)
Earnings before income taxes 5,131  5,915  2,077  2,381  2,891 
Provision for income taxes (4,156) (1,408) (446) (352) (311)
Net earnings 975  4,507  1,631  2,029  2,580 
Noncontrolling interest 32  (50) (66) (25) (17)
Net earnings attributable to BMS 1,007  4,457  1,565  2,004  2,563 
Source: Bristol-Myers Squibb Co., Annual Reports
Item Description The company
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. Bristol-Myers Squibb Co.'s revenues increased from 2015 to 2016 and from 2016 to 2017.
Operating income The net result for the period of deducting operating expenses from operating revenues. Bristol-Myers Squibb Co.'s operating income increased from 2015 to 2016 but then slightly declined 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. Bristol-Myers Squibb Co.'s earnings before income taxes increased from 2015 to 2016 but then slightly declined from 2016 to 2017.
Net earnings The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Bristol-Myers Squibb Co.'s net earnings increased from 2015 to 2016 but then declined significantly from 2016 to 2017.
Net earnings attributable to BMS 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. Bristol-Myers Squibb Co.'s net earnings attributable to BMS increased from 2015 to 2016 but then declined significantly from 2016 to 2017.