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 
Source: Coca-Cola Co., Annual Reports
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.

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