Coca-Cola Co. (KO)

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.

Coca-Cola Co., Consolidated Income Statement

USD $ in millions

12 months ended	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Net operating revenues	31,856	35,410	41,863	44,294	45,998
Cost of goods sold	(11,770)	(13,256)	(16,465)	(17,482)	(17,889)
Gross profit	20,086	22,154	25,398	26,812	28,109
Selling, general and administrative expenses	(10,307)	(12,496)	(15,262)	(16,427)	(17,218)
Other operating charges	(1,079)	(2,157)	(1,510)	(1,657)	(1,183)
Operating income	8,700	7,501	8,626	8,728	9,708
Interest income	682	677	642	613	594
Interest expense	(919)	(841)	(733)	(856)	(483)
Equity income, net	1,008	1,071	835	489	769
Other income (loss), net	(1,121)	(1,666)	(1,234)	631	(1,263)
Income from continuing operations before income taxes	8,350	6,742	8,136	9,605	9,325
Income taxes from continuing operations	(1,623)	(5,560)	(1,586)	(2,239)	(2,201)
Net income from continuing operations	6,727	1,182	6,550	7,366	7,124
Income (loss) from discontinued operations, net of income taxes	(251)	101	–	–	–
Consolidated net income	6,476	1,283	6,550	7,366	7,124
Net income attributable to noncontrolling interests	(42)	(35)	(23)	(15)	(26)
Net income attributable to shareowners of The Coca-Cola Company	6,434	1,248	6,527	7,351	7,098

Based on: 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-24), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-25).

Item	Description	The company
Net operating revenues	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.	Coca-Cola Co.’s net operating revenues declined from 2016 to 2017 and from 2017 to 2018.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Coca-Cola Co.’s operating income declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
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.	Coca-Cola Co.’s income from continuing operations before income taxes declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
Net income attributable to shareowners of The Coca-Cola Company	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Coca-Cola Co.’s net income attributable to shareowners of The Coca-Cola Company declined from 2016 to 2017 but then increased from 2017 to 2018 not reaching 2016 level.