Income Statement

The income statement presents information on the financial results of a company 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.

EMC Corp., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011
Product sales	13,514)	14,051)	13,690)	13,061)	12,591)
Services	11,190)	10,389)	9,532)	8,653)	7,417)
Revenues	24,704)	24,440)	23,222)	21,714)	20,008)
Cost of product sales	(5,809)	(5,738)	(5,650)	(5,258)	(5,320)
Cost of services	(3,904)	(3,453)	(3,099)	(2,817)	(2,519)
Cost of revenues	(9,713)	(9,191)	(8,749)	(8,076)	(7,839)
Gross profit	14,991)	15,249)	14,473)	13,638)	12,169)
Research and development	(3,167)	(2,991)	(2,761)	(2,560)	(2,150)
Selling, general and administrative	(8,533)	(7,982)	(7,338)	(7,004)	(6,479)
Restructuring and acquisition-related charges	(450)	(239)	(224)	(111)	(97)
Operating income	2,841)	4,037)	4,150)	3,964)	3,442)
Investment income	94)	123)	128)	115)	129)
Interest expense	(164)	(147)	(156)	(79)	(170)
Other income (expense), net	111)	(251)	(257)	(196)	(152)
Non-operating income (expense)	41)	(275)	(285)	(160)	(193)
Income before provision for income taxes	2,882)	3,762)	3,865)	3,804)	3,249)
Income tax provision	(710)	(868)	(772)	(918)	(640)
Net income	2,172)	2,894)	3,093)	2,886)	2,609)
Net income attributable to the non-controlling interests	(182)	(180)	(204)	(153)	(148)
Net income attributable to EMC Corporation	1,990)	2,714)	2,889)	2,733)	2,461)

Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).

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Income statement item	Description	The company
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.	EMC Corp. revenues increased from 2013 to 2014 and from 2014 to 2015.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	EMC Corp. operating income decreased from 2013 to 2014 and from 2014 to 2015.
Income before provision for 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.	EMC Corp. income before provision for income taxes decreased from 2013 to 2014 and from 2014 to 2015.
Net income attributable to EMC Corporation	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	EMC Corp. net income attributable to EMC Corporation decreased from 2013 to 2014 and from 2014 to 2015.

EMC Corp. (NYSE:EMC)

Income Statement