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Procter & Gamble Co. (PG)


Income Statement

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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.

Procter & Gamble Co., consolidated income statement

US$ in millions

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12 months ended Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014
Net sales 67,684  66,832  65,058  65,299  76,279  83,062 
Cost of products sold (34,768) (34,268) (32,535) (32,909) (38,876) (42,460)
Gross profit 32,916  32,564  32,523  32,390  37,403  40,602 
Selling, general and administrative expense (19,084) (18,853) (18,568) (18,949) (23,585) (25,314)
Goodwill and indefinite-lived intangible asset impairment charges (8,345) —  —  —  —  — 
Venezuela deconsolidation charge —  —  —  —  (2,028) — 
Operating income 5,487  13,711  13,955  13,441  11,790  15,288 
Interest expense (509) (506) (465) (579) (626) (709)
Interest income 220  247  171  182  151  100 
Other non-operating income (expense), net 871  (126) (404) 325  531  206 
Earnings from continuing operations before income taxes 6,069  13,326  13,257  13,369  11,846  14,885 
Income taxes on continuing operations (2,103) (3,465) (3,063) (3,342) (2,916) (3,178)
Net earnings from continuing operations 3,966  9,861  10,194  10,027  8,930  11,707 
Net earnings (loss) from discontinued operations —  —  5,217  577  (1,786) 78 
Net earnings 3,966  9,861  15,411  10,604  7,144  11,785 
Net earnings attributable to noncontrolling interests (69) (111) (85) (96) (108) (142)
Net earnings attributable to Procter & Gamble 3,897  9,750  15,326  10,508  7,036  11,643 
Preferred dividends, net of tax (263) (265) (247) (255) (259) (253)
Net earnings attributable to P&G available to common shareholders 3,634  9,485  15,079  10,253  6,777  11,390 

Based on: 10-K (filing date: 2019-08-06), 10-K (filing date: 2018-08-07), 10-K (filing date: 2017-08-07), 10-K (filing date: 2016-08-09), 10-K (filing date: 2015-08-07), 10-K (filing date: 2014-08-08).

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. Procter & Gamble Co.’s net sales increased from 2017 to 2018 and from 2018 to 2019.
Operating income The net result for the period of deducting operating expenses from operating revenues. Procter & Gamble Co.’s operating income declined from 2017 to 2018 and from 2018 to 2019.
Earnings 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. Procter & Gamble Co.’s earnings from continuing operations before income taxes increased from 2017 to 2018 but then declined significantly from 2018 to 2019.
Net earnings attributable to Procter & Gamble The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Procter & Gamble Co.’s net earnings attributable to Procter & Gamble declined from 2017 to 2018 and from 2018 to 2019.