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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.
Based on: 10-K (filing date: 2021-03-22), 10-K (filing date: 2020-03-23), 10-K (filing date: 2019-04-02), 10-K (filing date: 2018-04-02), 10-K (filing date: 2017-04-04), 10-K (filing date: 2016-03-29).
|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.||Lowe’s Cos. Inc.’s net sales increased from 2019 to 2020 and from 2020 to 2021.|
|Operating income||The net result for the period of deducting operating expenses from operating revenues.||Lowe’s Cos. Inc.’s operating income increased from 2019 to 2020 and from 2020 to 2021.|
|Pre-tax earnings||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.||Lowe’s Cos. Inc.’s pre-tax earnings increased from 2019 to 2020 and from 2020 to 2021.|
|Net earnings||The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.||Lowe’s Cos. Inc.’s net earnings increased from 2019 to 2020 and from 2020 to 2021.|