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Income Statement
Beginner level
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.
Johnson & Johnson, consolidated income statement
US$ in millions
Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).
| Income statement item | Description | The company |
|---|---|---|
| Sales to customers | 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. | Johnson & Johnson’s sales to customers increased from 2017 to 2018 and from 2018 to 2019. |
| Operating earnings | The net result for the period of deducting operating expenses from operating revenues. | Johnson & Johnson’s operating earnings increased from 2017 to 2018 and from 2018 to 2019. |
| Earnings before provision for taxes on income | 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. | Johnson & Johnson’s earnings before provision for taxes on income increased from 2017 to 2018 but then decreased significantly from 2018 to 2019. |
| Net earnings | The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. | Johnson & Johnson’s net earnings increased from 2017 to 2018 but then slightly decreased from 2018 to 2019. |