Income Statement
Difficulty level: Basic
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, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
|---|---|---|---|---|---|---|
| Net operating revenues | 45,998 | 46,854 | 48,017 | 46,542 | 35,119 | |
| Cost of goods sold | (17,889) | (18,421) | (19,053) | (18,216) | (12,693) | |
| Gross profit | 28,109 | 28,433 | 28,964 | 28,326 | 22,426 | |
| Selling, general and administrative expenses | (17,218) | (17,310) | (17,738) | (17,440) | (13,158) | |
| Other operating charges | (1,183) | (895) | (447) | (732) | (819) | |
| Operating income | 9,708 | 10,228 | 10,779 | 10,154 | 8,449 | |
| Interest income | 594 | 534 | 471 | 483 | 317 | |
| Interest expense | (483) | (463) | (397) | (417) | (733) | |
| Equity income, net | 769 | 602 | 819 | 690 | 1,025 | |
| Other income (loss), net | (1,263) | 576 | 137 | 529 | 5,185 | |
| Income before income taxes | 9,325 | 11,477 | 11,809 | 11,439 | 14,243 | |
| Income taxes | (2,201) | (2,851) | (2,723) | (2,805) | (2,384) | |
| Consolidated net income | 7,124 | 8,626 | 9,086 | 8,634 | 11,859 | |
| Net income attributable to noncontrolling interests | (26) | (42) | (67) | (62) | (50) | |
| Net income attributable to shareowners of The Coca-Cola Company | 7,098 | 8,584 | 9,019 | 8,572 | 11,809 |
| Item | Description | The company |
|---|---|---|
| Net operating 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. | Coca-Cola Co.'s net operating revenues declined from 2012 to 2013 and from 2013 to 2014. |
| Operating income | The net result for the period of deducting operating expenses from operating revenues. | Coca-Cola Co.'s operating income declined from 2012 to 2013 and from 2013 to 2014. |
| Income 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. | Coca-Cola Co.'s income before income taxes declined from 2012 to 2013 and from 2013 to 2014. |
| Consolidated net income | The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. | Coca-Cola Co.'s consolidated net income declined from 2012 to 2013 and from 2013 to 2014. |
| Net income attributable to shareowners of The Coca-Cola Company | 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. | Coca-Cola Co.'s net income attributable to shareowners of The Coca-Cola Company declined from 2012 to 2013 and from 2013 to 2014. |