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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.

Time Warner Inc., Consolidated Income Statement

USD $ in millions

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12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Revenues 31,271  29,318  28,118  27,359  29,795 
Costs of revenues (17,647) (16,376) (16,154) (15,875) (16,230)
Gross profit 13,624  12,942  11,964  11,484  13,565 
Selling, general and administrative (5,438) (5,123) (4,824) (5,190) (6,465)
Amortization of intangible assets (197) (190) (189) (202) (251)
Restructuring and severance costs (120) (117) (60) (512) (246)
Asset impairments (16) (43) (25) (69) (140)
Gain (loss) on operating assets, net 67  78  (1) 464  142 
Operating income 7,920  7,547  6,865  5,975  6,605 
Interest income 209  227  219  184  93 
Interest expense (1,214) (1,388) (1,382) (1,353) (1,283)
Interest expense, net (1,005) (1,161) (1,163) (1,169) (1,190)
Investment gains (losses), net 300  148  (31) 30  61 
Loss on equity method investees (153) (283) (123) (153) (152)
Premiums paid and costs incurred on debt redemption (1,087) (1,008) (72) –  – 
Other (30) (48) (30) (4) (21)
Other loss, net (970) (1,191) (256) (127) (112)
Income from continuing operations before income taxes 5,945  5,195  5,446  4,679  5,303 
Income tax provision (701) (1,281) (1,651) (785) (1,749)
Income from continuing operations 5,244  3,914  3,795  3,894  3,554 
Discontinued operations, net of tax –  11  37  (67) 137 
Net income 5,244  3,925  3,832  3,827  3,691 
Net loss attributable to noncontrolling interests –  – 
Net income attributable to Time Warner Inc. shareholders 5,247  3,926  3,833  3,827  3,691 

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

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. Time Warner Inc.'s revenues increased from 2015 to 2016 and from 2016 to 2017.
Operating income The net result for the period of deducting operating expenses from operating revenues. Time Warner Inc.'s operating income increased from 2015 to 2016 and from 2016 to 2017.
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. Time Warner Inc.'s income from continuing operations before income taxes declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.
Net income attributable to Time Warner Inc. shareholders The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Time Warner Inc.'s net income attributable to Time Warner Inc. shareholders increased from 2015 to 2016 and from 2016 to 2017.