Comparing Income Statements Across Industries
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Important Points About The Table Below
• When you have completed the exercise, the subtotals and totals below should match the related ones reported by the company. The one exception is for Deere: include its "equity income(loss) of unconsolidated affiliates" in the line item "other income and (expenses).
• Numbers in the table below are either disclosed on the company's income statement with similar captions or they combine numbers disclosed on the income statement with related captions.
• Caution: Companies may use different signing conventions so expenses may be signed negatively or positively when presented on the income statement. The template below applies a consistent signing convention.
• Income statement numbers below are reported in millions of dollars.
JetBlue Airways Corp. Google Inc. YUM! Brands Inc. The Gap, Inc. Deere & Company
year ended year ended year ended year ended year ended
INCOME STATEMENTS 12/31/2007
December 31, 2009 December 31, 2008 Restated per 2009 10-K December 31, 2006 December 31, 2009 December 31, 2008 December 31, 2007 December 31, 2006 December 26, 2009 December 27, 2008 December 29, 2007 December 30, 2006 January 30, 2010 January 31, 2009 February 2, 2008 February 3, 2007 October 31, 2009 October 31, 2008 October 31, 2007 October 31, 2006
millions millions millions millions millions
Net revenues $3,286 $3,388 $2,363 $23,651 $16,594 $10,605 $10,836 $11,304 $10,435 $9,561 $14,526 $15,763 $15,923 $20,756 $25,804 $21,489 $19,884
Cost of goods or services sold $0 $0 $0 $8,844 $6,649 $4,225 $0 $0 $0 $0 $9,079 $10,071 $10,266 $16,255 $19,575 $16,253 $15,362
Gross profit $3,286 $3,388 $2,363 $14,806 $13,174 $9,945 $6,380 $10,836 $11,304 $10,435 $9,561 $5,724 $5,447 $5,692 $5,657 $4,501 $6,229 $5,236 $4,522
Other operating income and (expenses) ($3,007) ($3,279) ($2,236) ($6,494) ($6,542) ($4,861) ($2,830) ($9,246) ($9,787) ($9,078) ($8,299) ($3,909) ($3,899) ($4,377) ($4,432) ($4,475) ($4,602) ($4,003) ($3,595)
Operating profit $279 $109 $127 $8,312 $6,632 $5,084 $3,550 $1,590 $1,517 $1,357 $1,262 $1,815 $1,548 $1,315 $1,225 $26 $1,627 $1,234 $928
Other income and (expenses) ($180) ($199) ($118) $69 ($778) $590 $461 ($194) ($226) ($166) ($154) $1 $36 $91 $90 $1,308 $1,537 $1,471 $1,267
Profit before taxes $99 ($90) $9 $8,381 $5,854 $5,674 $4,011 $1,396 $1,291 $1,191 $1,108 $1,816 $1,584 $1,406 $1,315 $1,334 $3,164 $2,705 $2,195
Income tax expense $41 ($5) $10 $1,861 $1,627 $1,470 $934 $313 $319 $282 $284 $714 $617 $539 $506 $460 $1,111 $883 $742
Net profit (loss) from continuing operations $58 ($85) ($1) $6,520 $4,227 $4,204 $3,077 $1,083 $972 $909 $824 $1,102 $967 $867 $809 $873 $2,053 $1,822 $1,453
SELECTED FINANCIAL DATA year end year end year end year end year end
December 31, 2009 December 31, 2008 December 31, 2007 December 31, 2006 December 31, 2009 December 31, 2008 December 31, 2007 December 31, 2006 December 26, 2009 December 27, 2008 December 29, 2007 December 30, 2006 January 30, 2010 January 31, 2009 February 2, 2008 February 3, 2007 October 31, 2009 October 31, 2008 October 31, 2007 October 31, 2006
millions millions millions millions millions
Comprehensive income $143 ($188) ($8) $6,399 $4,294 $3,097 $905 $1,134 $965 $915 $857 ($1,333) $1,303 $1,795
Beginning total assets $6,020 $5,598 $4,843 $31,768 $25,337 $18,473 $6,527 $7,242 $6,368 $7,838 $8,544 $38,735 $38,576 $34,720
Ending total assets $6,554 $6,020 $5,598 $40,496 $31,768 $25,337 $7,148 $6,527 $7,242 $7,564 $7,838 $41,133 $38,735 $38,576
Average total assets
(beginning + ending total assets)/2 $6,287 $5,809 $5,221 $36,132 $28,552 $21,905 $6,838 $6,885 $6,805 $7,701 $8,191 $39,934 $38,655 $36,648
Beginning owners' equity $1,266 $1,036 $952 $28,239 $22,689 $17,040 ($94) $1,139 $1,452 $4,387 $4,274 $5,174 $6,533 $7,156 $7,491
Ending owners' equity $1,539 $1,266 $1,036 $36,004 $28,239 $22,689 $1,114 ($94) $1,139 $4,891 $4,387 $4,274 $4,819 $6,533
Average owners' equity
(beginning + ending owners' equity)/2 $1,403 $1,151 $994 $32,122 $25,464 $19,864 $510 $523 $1,296 $4,639 $4,331 $4,724 $5,676 $6,844 $7,324
RATIOS year ended year ended year ended year ended year ended
December 31, 2009 December 31, 2008 December 31, 2007 December 31, 2006 December 31, 2009 December 31, 2008 December 31, 2007 December 31, 2006 December 26, 2009 December 27, 2008 December 29, 2007 December 30, 2006 January 30, 2010 January 31, 2009 February 2, 2008 February 3, 2007 October 31, 2009 October 31, 2008 October 31, 2007 October 31, 2006
Level 1: Comprehensive income
Comprehensive Income-ROE (CI-ROE)
CI/average owners' equity 10% -16% 4% 20% 17% 22% 24% 22% 19% -23% 19% 30%
Level 2: Major categories
Return-on-equity (ROE)
net profit/average owners' equity 4% -7% 1% 20% 17% 21% 212% 186% 70% 24% 22% 18% 15% 30% 25%
Level 3: Significant Subcategories
DuPont Model:
Profit margin ratio
profit before taxes/revenue 3% -3% 1% 35% 27% 34% 13% 11% 11% 11% 9% 6% 12% 13%
Asset turnover
revenue/average total assets 0.52 0.58 0.54 0.65 0.76 0.76 1.58 1.64 1.53 1.89 1.92
Financial leverage
average total assets/average owners' equity 4.48 5.05 5.25 1.12 1.12 1.10 13.41 13.18 5.25 1.78 1.73
Income tax factor
1- (tax expense/pretax income) 59% 94% 39% 78% 72% 74% 78% 75% 76% 61% 62%
Level 4: Line items
Common size income statements: percent of revenues percent of revenues percent of revenues percent of revenues percent of revenues
Net revenues 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Cost of goods or services sold 0% 0% 0% 0% 37% 40% 40% 0% 0% 0% 0% 60% 63% 64% 64% 78% 76% 76% 77%
Gross profit margin 100% 100% 100% 100% 63% 60% 60% 100% 100% 100% 100% 40% 37% 36% 36% 22% 24% 24% 23%
Other operating income and (expenses) -92% -97% -94% -95% -27% -29% -27% -85% -87% -87% -87% -28% -27% -28% -28% -22% -18% -19% -18%
Operating profit margin 8% 3% 6% 5% 35% 31% 33% 15% 13% 13% 13% 13% 11% 8% 8% 0% 6% 6% 5%
Other income and (expenses) -5% -6% -5% -5% 0% 4% 4% -2% -2% -2% -2% 0% 0% 1% 1% 6% 6% 7% 6%
Profit margin before taxes 3% -3% 1% 0% 35% 34% 38% 13% 11% 11% 12% 13% 11% 9% 8% 6% 12% 13% 11%
Income tax expense 1% 0% 1% 0% 8% 9% 9% 3% 3% 3% 3% 5% 4% 3% 3% 2% 4% 4% 4%
Net profit margin (loss) 2% -3% 0% 0% 28% 25% 29% 10% 9% 9% 9% 8% 7% 6% 5% 4% 8% 8% 7%
Revenue growth
(current year - prior year)/prior year -3% 19% 20% 9% 31% 56% -2% -8% -1% -20% 20% 8%
Source: Companies' websites