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.

Emerson Electric Co., consolidated income statement

US$ in millions

12 months ended:	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016	Sep 30, 2015	Sep 30, 2014
Net sales	18,372)	17,408)	15,264)	14,522)	22,304)	24,537)
Cost of sales	(10,557)	(9,948)	(8,860)	(8,260)	(13,256)	(14,379)
Gross profit	7,815)	7,460)	6,404)	6,262)	9,048)	10,158)
Selling, general and administrative expenses	(4,457)	(4,258)	(3,618)	(3,464)	(5,184)	(5,715)
Gains on divestitures of businesses	—)	—)	—)	—)	1,039)	—)
Goodwill impairment	—)	—)	—)	—)	—)	(508)
Amortization of intangibles (intellectual property and customer relationships)	(238)	(211)	(136)	(84)	(214)	(225)
Restructuring costs	(95)	(65)	(78)	(96)	(211)	(55)
Other	8)	(100)	(72)	(114)	(146)	(113)
Other deductions, net	(325)	(376)	(286)	(294)	(571)	(393)
Earnings from continuing operations before interest and income taxes	3,033)	2,826)	2,500)	2,504)	4,332)	3,542)
Interest income	27)	43)	36)	27)	29)	24)
Interest expense	(201)	(202)	(201)	(215)	(200)	(218)
Interest expense, net of interest income	(174)	(159)	(165)	(188)	(171)	(194)
Earnings from continuing operations before income taxes	2,859)	2,667)	2,335)	2,316)	4,161)	3,348)
Income taxes	(531)	(443)	(660)	(697)	(1,428)	(1,164)
Earnings from continuing operations	2,328)	2,224)	1,675)	1,619)	2,733)	2,184)
Discontinued operations, net of tax	—)	—)	(125)	45)	—)	—)
Net earnings	2,328)	2,224)	1,550)	1,664)	2,733)	2,184)
Noncontrolling interests in earnings of subsidiaries	(22)	(21)	(32)	(29)	(23)	(37)
Net earnings common stockholders	2,306)	2,203)	1,518)	1,635)	2,710)	2,147)

Based on: 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30).

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Income statement item	Description	The company
Net sales	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.	Emerson Electric Co. net sales increased from 2017 to 2018 and from 2018 to 2019.
Earnings from continuing operations before interest and income taxes	The net result for the period of deducting operating expenses from operating revenues.	Emerson Electric Co. earnings from continuing operations before interest and income taxes increased from 2017 to 2018 and from 2018 to 2019.
Earnings from continuing operations 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.	Emerson Electric Co. earnings from continuing operations before income taxes increased from 2017 to 2018 and from 2018 to 2019.
Net earnings common stockholders	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Emerson Electric Co. net earnings common stockholders increased from 2017 to 2018 and from 2018 to 2019.

Emerson Electric Co. (NYSE:EMR)

Income Statement