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Eli Lilly & Co. (LLY)


Income Statement

Beginner level

Eli Lilly & Co., consolidated income statement

US$ in thousands

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12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Revenue 24,555,700  22,871,300  21,222,100  19,958,700  19,615,600 
Cost of sales (6,430,000) (6,070,200) (5,654,900) (5,037,200) (4,932,500)
Gross margin 18,125,700  16,801,100  15,567,200  14,921,500  14,683,100 
Research and development (5,307,100) (5,281,800) (5,243,900) (4,796,400) (4,733,600)
Marketing, selling, and administrative (6,631,800) (6,588,100) (6,452,000) (6,533,000) (6,620,800)
Acquired in-process research and development (1,983,900) (1,112,600) (30,000) (535,000) (200,200)
Asset impairment, restructuring, and other special charges (482,000) (1,673,600) (382,500) (367,700) (468,700)
Operating income 3,720,900  2,145,000  3,458,800  2,689,400  2,659,800 
Interest expense (272,100) (225,000) (185,200) (161,200) (148,800)
Interest income 161,300  167,300  108,700  87,000  121,000 
Venezuela charge —  —  (203,900) —  — 
Retirement benefit 242,100  —  —  —  — 
Debt extinguishment loss —  —  —  (166,700) — 
Other income (expense) (56,500) 110,100  195,600  341,500  368,300 
Other, net, income (expense) 74,800  52,400  (84,800) 100,600  340,500 
Income before income taxes 3,795,700  2,197,400  3,374,000  2,790,000  3,000,300 
Income taxes (563,700) (2,401,500) (636,400) (381,600) (609,800)
Net income (loss) 3,232,000  (204,100) 2,737,600  2,408,400  2,390,500 

Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-19).

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 increased from 2016 to 2017 and from 2017 to 2018.
Operating income The net result for the period of deducting operating expenses from operating revenues. Eli Lilly & Co.’s operating income decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
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 decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
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) decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.