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.

GameStop Corp., consolidated income statement

US$ in thousands

12 months ended:	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017
Net sales	6,010,700)	5,089,800)	6,466,000)	8,285,300)	9,224,600)	8,607,900)
Cost of sales	(4,662,900)	(3,830,300)	(4,557,300)	(5,977,200)	(6,184,500)	(5,598,600)
Gross profit	1,347,800)	1,259,500)	1,908,700)	2,308,100)	3,040,100)	3,009,300)
Selling, general and administrative expenses	(1,709,600)	(1,514,200)	(1,922,700)	(1,994,200)	(2,513,700)	(2,417,800)
Goodwill and asset impairments	(6,700)	(15,500)	(385,600)	(1,015,900)	(390,800)	(33,800)
Gain on sale of assets	—)	32,400)	—)	—)	—)	—)
Operating earnings (loss)	(368,500)	(237,800)	(399,600)	(702,000)	135,600)	557,700)
Interest income	—)	1,900)	11,300)	5,700)	1,500)	800)
Interest expense	(26,900)	(34,000)	(38,500)	(56,800)	(56,800)	(53,800)
Interest expense, net	(26,900)	(32,100)	(27,200)	(51,100)	(55,300)	(53,000)
Earnings (loss) from continuing operations before income taxes	(395,400)	(269,900)	(426,800)	(753,100)	80,300)	504,700)
Income tax (expense) benefit	14,100)	55,300)	(37,600)	(41,700)	(45,600)	(151,500)
Net income (loss) from continuing operations	(381,300)	(214,600)	(464,400)	(794,800)	34,700)	353,200)
Income (loss) from discontinued operations, net of tax	—)	(700)	(6,500)	121,800)	—)	—)
Net income (loss)	(381,300)	(215,300)	(470,900)	(673,000)	34,700)	353,200)

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

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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.	GameStop Corp. net sales decreased from 2020 to 2021 but then increased from 2021 to 2022 not reaching 2020 level.
Operating earnings (loss)	The net result for the period of deducting operating expenses from operating revenues.	GameStop Corp. operating earnings (loss) increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.
Earnings (loss) 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.	GameStop Corp. earnings (loss) from continuing operations before income taxes increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.
Net income (loss)	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	GameStop Corp. net income (loss) increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.

GameStop Corp. (NYSE:GME)

Income Statement