Income Statement

The income statement presents information on the financial results of a company 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.

Monsanto Co., consolidated income statement

US$ in millions

12 months ended:	Aug 31, 2017	Aug 31, 2016	Aug 31, 2015	Aug 31, 2014	Aug 31, 2013	Aug 31, 2012
Net sales	14,640)	13,502)	15,001)	15,855)	14,861)	13,504)
Cost of goods sold	(6,703)	(6,485)	(6,819)	(7,281)	(7,208)	(6,459)
Gross profit	7,937)	7,017)	8,182)	8,574)	7,653)	7,045)
Selling, general and administrative expenses	(2,969)	(2,833)	(2,686)	(2,774)	(2,550)	(2,390)
Research and development expenses	(1,607)	(1,512)	(1,580)	(1,725)	(1,533)	(1,517)
Restructuring charges	36)	(297)	(393)	—)	—)	10)
Pending Bayer transaction related costs	(185)	—)	—)	—)	—)	—)
Operating expenses	(4,725)	(4,642)	(4,659)	(4,499)	(4,083)	(3,897)
Income from operations	3,212)	2,375)	3,523)	4,075)	3,570)	3,148)
Interest expense	(452)	(436)	(433)	(248)	(172)	(191)
Interest income	76)	74)	105)	102)	92)	77)
Other income (expense), net	50)	(22)	(34)	(102)	(61)	(46)
Income from continuing operations before income taxes	2,886)	1,991)	3,161)	3,827)	3,429)	2,988)
Income tax provision	(626)	(695)	(864)	(1,078)	(915)	(901)
Income from continuing operations including portion attributable to noncontrolling interest	2,260)	1,296)	2,297)	2,749)	2,514)	2,087)
Income on discontinued operations	13)	17)	28)	13)	11)	6)
Net income	2,273)	1,313)	2,325)	2,762)	2,525)	2,093)
Net (income) loss attributable to noncontrolling interest	(13)	23)	(11)	(22)	(43)	(48)
Net income attributable to Monsanto Company	2,260)	1,336)	2,314)	2,740)	2,482)	2,045)

Based on: 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-08-31), 10-K (reporting date: 2015-08-31), 10-K (reporting date: 2014-08-31), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-31).

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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.	Monsanto Co. net sales decreased from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.
Income from operations	The net result for the period of deducting operating expenses from operating revenues.	Monsanto Co. income from operations decreased from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.
Income from continuing operations before income taxes	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.	Monsanto Co. income from continuing operations before income taxes decreased from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.
Net income attributable to Monsanto Company	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Monsanto Co. net income attributable to Monsanto Company decreased from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.

Monsanto Co. (NYSE:MON)

Income Statement