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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.

Danaher Corp., Consolidated Income Statement

USD $ in thousands

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12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Sales 18,329,700  16,882,400  20,563,100  19,913,800  19,118,000 
Cost of sales (8,137,200) (7,547,800) (9,800,600) (9,471,300) (9,160,400)
Gross profit 10,192,500  9,334,600  10,762,500  10,442,500  9,957,600 
Selling, general and administrative expenses (6,042,500) (5,608,600) (6,054,300) (5,697,000) (5,432,800)
Research and development expenses (1,128,800) (975,100) (1,239,100) (1,314,200) (1,249,900)
Operating costs (7,171,300) (6,583,700) (7,293,400) (7,011,200) (6,682,700)
Operating profit 3,021,200  2,750,900  3,469,100  3,431,300  3,274,900 
Other income 72,800  223,400  12,400  156,500  431,300 
Loss on early extinguishment of borrowings (178,800)
Interest expense (162,700) (184,400) (162,800) (122,700) (145,900)
Interest income 7,500  200  5,300  16,700  5,700 
Nonoperating income (expense) (82,400) (139,600) (145,100) 50,500  291,100 
Earnings from continuing operations before income taxes 2,938,800  2,611,300  3,324,000  3,481,800  3,566,000 
Income taxes (469,000) (457,900) (725,300) (883,400) (871,000)
Net earnings from continuing operations 2,469,800  2,153,400  2,598,700  2,598,400  2,695,000 
Earnings from discontinued operations, net of income taxes 22,300  400,300  758,700 
Net earnings 2,492,100  2,553,700  3,357,400  2,598,400  2,695,000 
Source: Danaher Corp., Annual Reports
Item Description The company
Sales 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. Danaher Corp.'s sales declined from 2015 to 2016 but then slightly increased from 2016 to 2017.
Operating profit The net result for the period of deducting operating expenses from operating revenues. Danaher Corp.'s operating profit declined from 2015 to 2016 but then slightly increased from 2016 to 2017.
Earnings from continuing operations 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. Danaher Corp.'s earnings from continuing operations before income taxes declined from 2015 to 2016 but then slightly increased from 2016 to 2017.
Net earnings from continuing operations This represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Danaher Corp.'s net earnings from continuing operations declined from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.
Net earnings 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. Danaher Corp.'s net earnings declined from 2015 to 2016 and from 2016 to 2017.