.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.
International Business Machines Corp., Consolidated Income Statement
USD $ in millions
| 12 months ended | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| | Services | ||||||||||
| | Sales | ||||||||||
| | Financing | ||||||||||
| | Revenue | | | | | | |||||
| | Services | ||||||||||
| | Sales | ||||||||||
| | Financing | ||||||||||
| | Cost | | | | | | |||||
| | Gross profit | | | | | | |||||
| | Selling, general and administrative | ||||||||||
| | Research, development and engineering | ||||||||||
| | Intellectual property and custom development income | ||||||||||
| | Operating income | | | | | | |||||
| | Other income and (expense) | ||||||||||
| | Interest expense | ||||||||||
| | Income from continuing operations before income taxes | | | | | | |||||
| | Provision for income taxes | ||||||||||
| | Income from continuing operations | | | | | | |||||
| | Loss from discontinued operations, net of tax | ||||||||||
| | Net income | | | | | | |||||
| | Net income attributable to noncontrolling interest | ||||||||||
| | Net income attributable to IBM | | | | | |
| Item | Description | The company |
|---|---|---|
| Revenue | 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. | International Business Machines Corp.'s revenue declined from 2015 to 2016 and from 2016 to 2017. |
| Operating income | The net result for the period of deducting operating expenses from operating revenues. | International Business Machines Corp.'s operating income declined from 2015 to 2016 and from 2016 to 2017. |
| Income 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. | International Business Machines Corp.'s income from continuing operations before income taxes declined from 2015 to 2016 and from 2016 to 2017. |
| Income 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. | International Business Machines Corp.'s income from continuing operations declined from 2015 to 2016 and from 2016 to 2017. |
| Net income | The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. | International Business Machines Corp.'s net income declined from 2015 to 2016 and from 2016 to 2017. |
| Net income attributable to IBM | 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. | International Business Machines Corp.'s net income attributable to IBM declined from 2015 to 2016 and from 2016 to 2017. |
