Stock Analysis on Net
Stock Analysis on Net
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Eli Lilly & Co. (NYSE:LLY)

Income Statement

Beginner level

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.

Eli Lilly & Co., consolidated income statement

US$ in thousands

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12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Revenue 24,539,800  22,319,500  24,555,700  22,871,300  21,222,100 
Cost of sales (5,483,300) (4,721,200) (6,430,000) (6,070,200) (5,654,900)
Gross margin 19,056,500  17,598,300  18,125,700  16,801,100  15,567,200 
Research and development (6,085,700) (5,595,000) (5,307,100) (5,281,800) (5,243,900)
Marketing, selling, and administrative (6,121,200) (6,213,800) (6,631,800) (6,588,100) (6,452,000)
Acquired in-process research and development (660,400) (239,600) (1,983,900) (1,112,600) (30,000)
Asset impairment, restructuring, and other special charges (131,200) (575,600) (482,000) (1,673,600) (382,500)
Operating income 6,058,000  4,974,300  3,720,900  2,145,000  3,458,800 
Interest expense (359,600) (400,600) (272,100) (225,000) (185,200)
Interest income 33,000  80,400  161,300  167,300  108,700 
Debt extinguishment loss —  (252,500) —  —  — 
Gain on sale of antibiotic business in China —  309,800  —  —  — 
Venezuela charge —  —  —  —  (203,900)
Retirement benefit plans 251,800  209,900  242,100  —  — 
Other income (expense) 1,246,700  344,600  (56,500) 110,100  195,600 
Other, net, income (expense) 1,171,900  291,600  74,800  52,400  (84,800)
Income before income taxes 7,229,900  5,265,900  3,795,700  2,197,400  3,374,000 
Income taxes (1,036,200) (628,000) (563,700) (2,401,500) (636,400)
Net income (loss) from continuing operations 6,193,700  4,637,900  3,232,000  (204,100) 2,737,600 
Net income from discontinued operations —  3,680,500  —  —  — 
Net income (loss) 6,193,700  8,318,400  3,232,000  (204,100) 2,737,600 

Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21).

Income statement item Description The company
Revenue 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. Eli Lilly & Co.’s revenue decreased from 2018 to 2019 but then increased from 2019 to 2020 not reaching 2018 level.
Operating income The net result for the period of deducting operating expenses from operating revenues. Eli Lilly & Co.’s operating income increased from 2018 to 2019 and from 2019 to 2020.
Income before 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. Eli Lilly & Co.’s income before income taxes increased from 2018 to 2019 and from 2019 to 2020.
Net income (loss) The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Eli Lilly & Co.’s net income (loss) increased from 2018 to 2019 but then slightly decreased from 2019 to 2020.