Stock Analysis on Net
Stock Analysis on Net

Procter & Gamble Co. (NYSE:PG)

Income Statement
Quarterly Data

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.

Procter & Gamble Co., consolidated income statement (quarterly data)

US$ in millions

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3 months ended: Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014
Net sales 19,318  17,698  17,214  18,240  17,798  17,094  16,462  17,438  16,690  16,503  16,281  17,395  16,653  16,079  15,605  16,856  16,518  16,102  15,755  16,915  16,527  17,790  18,142  20,161  20,186 
Cost of products sold (9,142) (8,942) (8,716) (8,869) (8,723) (8,938) (8,427) (8,919) (8,484) (9,029) (8,343) (8,667) (8,229) (8,299) (7,836) (8,298) (8,102) (8,382) (7,915) (8,460) (8,152) (9,257) (9,327) (10,083) (10,209)
Gross profit 10,176  8,756  8,498  9,371  9,075  8,156  8,035  8,519  8,206  7,474  7,938  8,728  8,424  7,780  7,769  8,558  8,416  7,720  7,840  8,455  8,375  8,533  8,815  10,078  9,977 
Selling, general and administrative expense (4,895) (5,275) (5,045) (4,889) (4,785) (5,003) (4,806) (4,623) (4,652) (4,797) (4,642) (4,725) (4,689) (4,831) (4,409) (4,683) (4,645) (5,218) (4,522) (4,602) (4,607) (5,575) (5,680) (6,131) (6,199)
Goodwill and indefinite-lived intangible asset impairment charges —  —  —  —  —  (8,345) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Venezuela deconsolidation charge —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (2,028) —  —  — 
Operating income 5,281  3,481  3,453  4,482  4,290  (5,192) 3,229  3,896  3,554  2,677  3,296  4,003  3,735  2,949  3,360  3,875  3,771  2,502  3,318  3,853  3,768  930  3,135  3,947  3,778 
Interest expense (136) (157) (100) (100) (108) (111) (131) (138) (129) (136) (133) (122) (115) (116) (96) (122) (131) (150) (146) (143) (140) (147) (149) (160) (170)
Interest income 10  22  39  36  58  52  52  63  53  63  69  66  49  48  46  42  35  47  33  58  44  48  38  34  31 
Other non-operating income (expense), net 142  115  106  114  103  186  128  95  462  (315) 21  86  82  46  26  (539) 63  287  21  35  (18) 438  53  19  21 
Earnings from continuing operations before income taxes 5,297  3,461  3,498  4,532  4,343  (5,065) 3,278  3,916  3,940  2,289  3,253  4,033  3,751  2,927  3,336  3,256  3,738  2,686  3,226  3,803  3,654  1,269  3,077  3,840  3,660 
Income taxes on continuing operations (989) (675) (541) (789) (726) (172) (502) (700) (729) (399) (713) (1,472) (881) (725) (780) (695) (863) (678) (889) (898) (877) (629) (602) (865) (820)
Net earnings from continuing operations 4,308  2,786  2,957  3,743  3,617  (5,237) 2,776  3,216  3,211  1,890  2,540  2,561  2,870  2,202  2,556  2,561  2,875  2,008  2,337  2,905  2,777  640  2,475  2,975  2,840 
Net earnings (loss) from discontinued operations —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  5,335  (118) (50) 446  323  (142) (102) (287) (577) (820)
Net earnings 4,308  2,786  2,957  3,743  3,617  (5,237) 2,776  3,216  3,211  1,890  2,540  2,561  2,870  2,202  2,556  7,896  2,757  1,958  2,783  3,228  2,635  538  2,188  2,398  2,020 
Net earnings attributable to noncontrolling interests (31) 14  (40) (26) (24) (4) (31) (22) (12) (29) (66) (17) 13  (34) (21) (43) (7) (33) (22) (34) (17) (35) (26) (30)
Net earnings attributable to Procter & Gamble 4,277  2,800  2,917  3,717  3,593  (5,241) 2,745  3,194  3,199  1,891  2,511  2,495  2,853  2,215  2,522  7,875  2,714  1,951  2,750  3,206  2,601  521  2,153  2,372  1,990 
Preferred dividends, net of tax (66) (70) (64) (64) (65) (68) (64) (65) (66) (67) (74) (62) (62) (63) (60) (61) (63) (63) (63) (64) (65) (70) (59) (70) (60)
Net earnings attributable to P&G available to common shareholders 4,211  2,730  2,853  3,653  3,528  (5,309) 2,681  3,129  3,133  1,824  2,437  2,433  2,791  2,152  2,462  7,814  2,651  1,888  2,687  3,142  2,536  451  2,094  2,302  1,930 

Based on: 10-Q (filing date: 2020-10-20), 10-K (filing date: 2020-08-06), 10-Q (filing date: 2020-04-20), 10-Q (filing date: 2020-01-23), 10-Q (filing date: 2019-10-22), 10-K (filing date: 2019-08-06), 10-Q (filing date: 2019-04-23), 10-Q (filing date: 2019-01-23), 10-Q (filing date: 2018-10-19), 10-K (filing date: 2018-08-07), 10-Q (filing date: 2018-04-19), 10-Q (filing date: 2018-01-23), 10-Q (filing date: 2017-10-20), 10-K (filing date: 2017-08-07), 10-Q (filing date: 2017-04-26), 10-Q (filing date: 2017-01-20), 10-Q (filing date: 2016-10-25), 10-K (filing date: 2016-08-09), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-Q (filing date: 2015-10-23), 10-K (filing date: 2015-08-07), 10-Q (filing date: 2015-04-23), 10-Q (filing date: 2015-01-27), 10-Q (filing date: 2014-10-24).

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 Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Operating income The net result for the period of deducting operating expenses from operating revenues. Procter & Gamble Co.’s operating income increased from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
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 decreased from Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 exceeding Q3 2020 level.
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 decreased from Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 exceeding Q3 2020 level.