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Income Statement
Quarterly Data

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 Mills Inc., Consolidated Income Statement (quarterly data)

USD $ in thousands

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3 months ended Aug 26, 2018 May 27, 2018 Feb 25, 2018 Nov 26, 2017 Aug 27, 2017 May 28, 2017 Feb 26, 2017 Nov 27, 2016 Aug 28, 2016 May 29, 2016 Feb 28, 2016 Nov 29, 2015 Aug 30, 2015 May 31, 2015 Feb 22, 2015 Nov 23, 2014 Aug 24, 2014 May 25, 2014 Feb 23, 2014 Nov 24, 2013 Aug 25, 2013 May 26, 2013 Feb 24, 2013 Nov 25, 2012 Aug 26, 2012
Net sales hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Cost of sales hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Gross margin hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Selling, general, and administrative expenses hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Divestitures gain (loss) hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Restructuring, impairment, and other exit (costs) recoveries hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Operating profit hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Benefit plan non-service income hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Interest, net hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Earnings before income taxes and after-tax earnings from joint ventures hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Income taxes hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
After-tax earnings from joint ventures hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Net earnings, including earnings attributable to redeemable and noncontrolling interests hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Net (earnings) loss attributable to redeemable and noncontrolling interests hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Net earnings attributable to General Mills hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Source: General Mills Inc., Quarterly and Annual Reports
Item Description The company
Net sales 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 Mills Inc.'s net sales increased from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
Operating profit The net result for the period of deducting operating expenses from operating revenues. General Mills Inc.'s operating profit declined from Q3 2018 to Q4 2018 but then increased from Q4 2018 to Q1 2019 exceeding Q3 2018 level.
Earnings before income taxes and after-tax earnings from joint ventures 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 Mills Inc.'s earnings before income taxes and after-tax earnings from joint ventures declined from Q3 2018 to Q4 2018 but then increased from Q4 2018 to Q1 2019 not reaching Q3 2018 level.
Net earnings, including earnings attributable to redeemable and noncontrolling interests The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. General Mills Inc.'s net earnings, including earnings attributable to redeemable and noncontrolling interests declined from Q3 2018 to Q4 2018 but then slightly increased from Q4 2018 to Q1 2019.
Net earnings attributable to General Mills 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 Mills Inc.'s net earnings attributable to General Mills declined from Q3 2018 to Q4 2018 but then slightly increased from Q4 2018 to Q1 2019.