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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.
Nike Inc., Consolidated Income Statement
USD $ in millions
|12 months ended||May 31, 2018||May 31, 2017||May 31, 2016||May 31, 2015||May 31, 2014||May 31, 2013|
|Cost of sales|
|Demand creation expense|
|Operating overhead expense|
|Selling and administrative expense|
|Interest income (expense), net|
|Other income (expense), net|
|Income before income taxes|
|Income tax expense|
|Net income from continuing operations|
|Net income from discontinued operations|
|Revenues||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.||Nike Inc.'s revenues increased from 2016 to 2017 and from 2017 to 2018.|
|Operating income||The net result for the period of deducting operating expenses from operating revenues.||Nike Inc.'s operating income increased from 2016 to 2017 but then declined significantly from 2017 to 2018.|
|Income 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.||Nike Inc.'s income before income taxes increased from 2016 to 2017 but then declined significantly from 2017 to 2018.|
|Net 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.||Nike Inc.'s net income from continuing operations increased from 2016 to 2017 but then declined significantly from 2017 to 2018.|
|Net income||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.||Nike Inc.'s net income increased from 2016 to 2017 but then declined significantly from 2017 to 2018.|