Income Statement
Quarterly Data

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.

Ecolab Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017
Product and equipment sales	2,691,700)	2,653,800)	2,514,400)	2,293,400)	2,449,100)	2,426,400)	2,167,100)	2,424,000)	3,142,800)	3,117,700)	3,092,100)	2,886,300)	3,107,100)	3,101,400)	3,060,500)	2,859,600)	—)	—)	—)	—)
Service and lease sales	672,900)	667,000)	648,300)	591,600)	616,200)	592,200)	518,600)	596,600)	680,800)	700,200)	667,300)	619,100)	653,400)	645,800)	629,100)	611,300)	—)	—)	—)	—)
Net sales (legacy)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	3,650,700)	3,563,300)	3,462,700)	3,161,600)
Net sales	3,364,600)	3,320,800)	3,162,700)	2,885,000)	3,065,300)	3,018,600)	2,685,700)	3,020,600)	3,823,600)	3,817,900)	3,759,400)	3,505,400)	3,760,500)	3,747,200)	3,689,600)	3,470,900)	3,650,700)	3,563,300)	3,462,700)	3,161,600)
Product and equipment cost of sales	(1,648,000)	(1,625,100)	(1,464,900)	(1,362,900)	(1,409,700)	(1,405,400)	(1,301,500)	(1,364,700)	(1,790,800)	(1,792,700)	(1,805,800)	(1,717,100)	(1,820,900)	(1,809,800)	(1,751,600)	(1,696,200)	—)	—)	—)	—)
Service and lease cost of sales	(395,100)	(391,600)	(379,100)	(349,100)	(370,600)	(364,200)	(334,200)	(355,500)	(420,300)	(414,700)	(402,400)	(379,600)	(395,900)	(380,900)	(394,500)	(376,100)	—)	—)	—)	—)
Cost of sales, including special charges (legacy)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1,950,700)	(1,891,300)	(1,871,600)	(1,691,500)
Cost of sales, including special charges	(2,043,100)	(2,016,700)	(1,844,000)	(1,712,000)	(1,780,300)	(1,769,600)	(1,635,700)	(1,720,200)	(2,211,100)	(2,207,400)	(2,208,200)	(2,096,700)	(2,216,800)	(2,190,700)	(2,146,100)	(2,072,300)	(1,950,700)	(1,891,300)	(1,871,600)	(1,691,500)
Gross profit	1,321,500)	1,304,100)	1,318,700)	1,173,000)	1,285,000)	1,249,000)	1,050,000)	1,300,400)	1,612,500)	1,610,500)	1,551,200)	1,408,700)	1,543,700)	1,556,500)	1,543,500)	1,398,600)	1,700,000)	1,672,000)	1,591,100)	1,470,100)
Selling, general and administrative expenses	(867,900)	(832,000)	(853,300)	(862,900)	(809,600)	(802,600)	(788,600)	(908,300)	(991,100)	(962,500)	(1,002,700)	(1,001,200)	(948,800)	(964,700)	(1,036,800)	(1,018,300)	(1,123,900)	(1,087,300)	(1,115,300)	(1,090,600)
Special gains and (charges)	(65,900)	(6,300)	(17,600)	(12,800)	(59,300)	(35,000)	(69,400)	(15,900)	(61,000)	(60,400)	(49,900)	(40,300)	(13,000)	(75,600)	(12,100)	(26,000)	51,600)	(4,900)	(36,800)	(6,200)
Operating income	387,700)	465,800)	447,800)	297,300)	416,100)	411,400)	192,000)	376,200)	560,400)	587,600)	498,600)	367,200)	581,900)	516,200)	494,600)	354,300)	627,700)	579,800)	439,000)	373,300)
Other income (expense)	6,400)	13,000)	(2,500)	17,000)	10,300)	15,100)	15,100)	15,400)	13,400)	20,800)	20,900)	21,200)	19,900)	21,000)	19,600)	19,400)	—)	—)	—)	—)
Interest expense, net	(44,600)	(76,400)	(45,600)	(51,700)	(48,400)	(134,800)	(58,700)	(48,300)	(46,200)	(46,100)	(49,500)	(49,400)	(53,900)	(55,700)	(56,300)	(56,400)	(77,800)	(55,100)	(59,600)	(62,500)
Income before income taxes	349,500)	402,400)	399,700)	262,600)	378,000)	291,700)	148,400)	343,300)	527,600)	562,300)	470,000)	339,000)	547,900)	481,500)	457,900)	317,300)	549,900)	524,700)	379,400)	310,800)
Provision for income taxes	(44,200)	(73,800)	(86,100)	(66,100)	(73,100)	(42,400)	(14,100)	(47,000)	(93,300)	(93,000)	(97,800)	(38,600)	(147,700)	(43,200)	(104,300)	(69,100)	21,800)	(128,900)	(81,300)	(54,000)
Net income from continuing operations	305,300)	328,600)	313,600)	196,500)	304,900)	249,300)	134,300)	296,300)	434,300)	469,300)	372,200)	300,400)	400,200)	438,300)	353,600)	248,200)	571,700)	395,800)	298,100)	256,800)
Net loss from discontinued operations, net of tax	—)	—)	—)	—)	—)	—)	(2,163,900)	(8,600)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net income (loss) including noncontrolling interest	305,300)	328,600)	313,600)	196,500)	304,900)	249,300)	(2,029,600)	287,700)	434,300)	469,300)	372,200)	300,400)	400,200)	438,300)	353,600)	248,200)	571,700)	395,800)	298,100)	256,800)
Net income attributable to noncontrolling interest	(4,300)	(4,100)	(2,800)	(2,900)	(4,600)	(3,100)	(5,400)	(4,300)	(4,700)	(5,100)	(3,600)	(3,900)	(5,100)	(2,900)	(2,300)	(900)	(5,800)	(3,400)	(1,500)	(3,300)
Net income (loss) attributable to Ecolab	301,000)	324,500)	310,800)	193,600)	300,300)	246,200)	(2,035,000)	283,400)	429,600)	464,200)	368,600)	296,500)	395,100)	435,400)	351,300)	247,300)	565,900)	392,400)	296,600)	253,500)

Sales Trends: Net sales showed growth from March 2017 through December 2019, reaching a peak near 3.82 billion US dollars. Beginning in 2020, sales declined sharply to approximately 3.02 billion in March 2020, with a further drop in the second quarter coinciding with the onset of the COVID-19 pandemic. Sales gradually recovered in the subsequent quarters of 2020 and 2021, though they remained below pre-pandemic levels by the end of 2021.
Breakdown of Sales Components: Product and equipment sales consistently represented the majority of net sales, but they followed a similar downward trend in 2020 with a low of approximately 2.16 billion in Q2 2020. Recovery was noted in 2021 with sales increasing each quarter. Service and lease sales followed a comparable pattern, decreasing significantly in early 2020 and recovering slowly through 2021.
Cost of Sales and Gross Profit: Cost of sales (including special charges) rose from 2017 through 2019, peaking above 2.2 billion US dollars annually. Costs declined in the first half of 2020 along with sales, before increasing again in late 2020 and continuing to rise into 2021. Gross profit mirrored these trends, showing strong performance in 2017 and 2018, a notable drop in 2020, and partial recovery in 2021, though it did not return to pre-2020 levels by year-end.
Operating Expenses and Operating Income: Selling, general and administrative expenses decreased starting in 2019, with a significant reduction in 2020, likely reflecting cost control measures during the pandemic. Operating income showed volatility, expanding from 2017 through 2019, shrinking sharply in early 2020, then partially rebounding in the following quarters, but declining slightly again toward the end of 2021.
Non-Operating Items: Other income remained relatively stable through the periods with minor fluctuations. Interest expense was fairly consistent but spiked substantially in Q3 2020, which may indicate increased borrowing or refinancing activities. Special gains and charges varied, with notable charges occurring intermittently, including substantial negative charges during 2020.
Profitability and Income Taxes: Income before taxes followed operating income trends, peaking in late 2019 before dropping sharply in 2020, with partial recovery thereafter. Provision for income taxes showed variability, including occasional negative values, which suggests tax benefits or adjustments. Net income from continuing operations was strong through 2019, declined dramatically in 2020, then showed a gradual recovery in 2021.
Extraordinary Items and Net Income: A significant net loss from discontinued operations was recorded in Q4 2019, amounting to over 2 billion US dollars, which heavily impacted overall net income in that quarter. Excluding this, net income attributable to the company followed the broader pattern of growth until 2019, sharp decline in 2020, and recovery in 2021, not fully reaching previous highs by the end of 2021.

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Ecolab Inc. (NYSE:ECL)

Income Statement Quarterly Data

Income Statement
Quarterly Data