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Income Statement

Difficulty: Beginner

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.

General Electric Co., Consolidated Income Statement

USD $ in millions

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12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Sales of goods hidden hidden hidden hidden hidden
Sales of services hidden hidden hidden hidden hidden
Sales of goods and services hidden hidden hidden hidden hidden
Cost of goods sold hidden hidden hidden hidden hidden
Cost of services sold hidden hidden hidden hidden hidden
Cost of goods and services sold hidden hidden hidden hidden hidden
Gross profit from sales hidden hidden hidden hidden hidden
GE Capital revenues from services hidden hidden hidden hidden hidden
Selling, general and administrative expenses hidden hidden hidden hidden hidden
Operating earnings hidden hidden hidden hidden hidden
Purchases and sales of business interests hidden hidden hidden hidden hidden
Licensing and royalty income hidden hidden hidden hidden hidden
Associated companies hidden hidden hidden hidden hidden
Net interest and investment income hidden hidden hidden hidden hidden
Other items hidden hidden hidden hidden hidden
GE hidden hidden hidden hidden hidden
Eliminations hidden hidden hidden hidden hidden
Other income hidden hidden hidden hidden hidden
Interest and other financial charges hidden hidden hidden hidden hidden
Investment contracts, insurance losses and insurance annuity benefits hidden hidden hidden hidden hidden
Provision for losses on financing receivables hidden hidden hidden hidden hidden
Other costs and expenses hidden hidden hidden hidden hidden
Earnings (loss) from continuing operations before income taxes hidden hidden hidden hidden hidden
(Provision) benefit for income taxes hidden hidden hidden hidden hidden
Earnings (loss) from continuing operations hidden hidden hidden hidden hidden
Loss from discontinued operations, net of taxes hidden hidden hidden hidden hidden
Net earnings (loss) hidden hidden hidden hidden hidden
Net (earnings) loss attributable to noncontrolling interests hidden hidden hidden hidden hidden
Net earnings (loss) attributable to the Company hidden hidden hidden hidden hidden
Preferred stock dividends hidden hidden hidden hidden hidden
Net earnings (loss) attributable to GE common shareowners hidden hidden hidden hidden hidden
Source: General Electric Co., Annual Reports
Item Description The company
Sales of goods and services Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. General Electric Co.'s sales of goods and services increased from 2015 to 2016 and from 2016 to 2017.
Operating earnings The net result for the period of deducting operating expenses from operating revenues. General Electric Co.'s operating earnings declined from 2015 to 2016 and from 2016 to 2017.
Earnings (loss) from continuing operations before income taxes Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. General Electric Co.'s earnings (loss) from continuing operations before income taxes increased from 2015 to 2016 but then declined significantly from 2016 to 2017.
Earnings (loss) from continuing operations This represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. General Electric Co.'s earnings (loss) from continuing operations increased from 2015 to 2016 but then declined significantly from 2016 to 2017.
Net earnings (loss) The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. General Electric Co.'s net earnings (loss) increased from 2015 to 2016 but then declined significantly from 2016 to 2017.
Net earnings (loss) attributable to the Company The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. General Electric Co.'s net earnings (loss) attributable to the Company increased from 2015 to 2016 but then slightly declined from 2016 to 2017 not reaching 2015 level.