Microsoft Excel LibreOffice Calc

Raytheon Co. (RTN)


Income Statement

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.

Raytheon Co., consolidated income statement

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Products 22,633  21,416  20,166  19,443  19,126 
Services 4,425  3,932  3,903  3,804  3,700 
Net sales 27,058  25,348  24,069  23,247  22,826 
Cost of sales, products (16,108) (15,872) (14,767) (14,447) (14,260)
Cost of sales, services (3,465) (3,204) (3,180) (3,127) (3,035)
Cost of sales, products and services (19,573) (19,076) (17,947) (17,574) (17,295)
Gross margin 7,485  6,272  6,122  5,673  5,531 
General and administrative expenses (2,947) (2,954) (2,882) (2,660) (2,352)
Operating income 4,538  3,318  3,240  3,013  3,179 
Retirement benefits non-service expense (1,230) —  —  —  — 
Interest expense (184) (205) (232) (233) (213)
Interest income 31  21  16  11  10 
Other income (expense), net (8) (21) (4)
Non-operating income (expense), net (1,391) (205) (210) (226) (196)
Income from continuing operations before taxes 3,147  3,113  3,030  2,787  2,983 
Federal and foreign income taxes (264) (1,114) (857) (733) (790)
Income from continuing operations 2,883  1,999  2,173  2,054  2,193 
Income (loss) from discontinued operations, net of tax (1) 13  65 
Net income 2,882  2,001  2,174  2,067  2,258 
Net (income) loss attributable to noncontrolling interests in subsidiaries 27  23  37  (14)
Net income attributable to Raytheon Company 2,909  2,024  2,211  2,074  2,244 

Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-11).

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. Raytheon Co.’s net sales 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. Raytheon Co.’s operating income increased from 2016 to 2017 and from 2017 to 2018.
Income from continuing operations before 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. Raytheon Co.’s income from continuing operations before taxes increased from 2016 to 2017 and from 2017 to 2018.
Net income attributable to Raytheon Company The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Raytheon Co.’s net income attributable to Raytheon Company decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.