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Thermo Fisher Scientific Inc. (NYSE:TMO)

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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.

Thermo Fisher Scientific Inc., consolidated income statement

US$ in millions

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12 months ended Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Product revenues
Service revenues
Revenues
Cost of product revenues
Cost of service revenues
Cost of revenues
Gross profit
Selling, general and administrative expenses
Research and development expenses
Restructuring and other income (costs), net
Operating income
Interest income
Interest expense
Other income (expense), net
Income from continuing operations before income taxes
(Provision for) benefit from income taxes
Income from continuing operations
Loss from discontinued operations, net of income tax
Net income

Based on: 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-25).

Income statement item Description The company
Revenues 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. Thermo Fisher Scientific Inc.’s revenues 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. Thermo Fisher Scientific Inc.’s operating income increased from 2017 to 2018 and from 2018 to 2019.
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. Thermo Fisher Scientific Inc.’s income from continuing operations before income taxes increased from 2017 to 2018 and from 2018 to 2019.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Thermo Fisher Scientific Inc.’s net income increased from 2017 to 2018 and from 2018 to 2019.