profit and loss statement

(redirected from Statement of Income)
Also found in: Legal.

Profit and Loss Statement

An annual report, and other quarterly reports, a publicly-traded company publishes giving information over a given period of time. The report contains information on the company's financial state, most notably statements on revenue, expenses, and earnings (which is the difference between the two). It is in general less detailed that a stockholder's report but contains much of the same information. A profit and loss statement goes by a number of other names, including income statement, earnings statement, earnings report, and operating statement. See also: Balance Sheet.

profit and loss statement (P&L)

profit and loss statement

A semi-itemized list of all revenues and expenses of a person or company over a stated period of time, such as one month, one quarter, or one year.The items on the list are generally broad categories, but the selection of categories is a matter of personal preference for most small businesses.As a general rule,one should design a profit and loss statement so that it gives a snapshot of important revenue categories and the expenses associated with those particular revenues.

References in periodicals archive ?
According to the Income Tax Act, all residents of India have to file an annual statement of income earned.
Excellent examples of the reporting of extraordinary gains and losses on the statement of income and the statement of cash flows can be found in the 1988 and 1989 financial statements of Panhandle Eastern Corporation.
Best's Statement File - Property/Casualty - US contains an 11-year Best's Executive Summary Report (BESR) with Balance Sheet, Statement of Income, Premiums, and other key data items.
FINANCIAL SUMMARY (unaudited) Balance sheet information: September 30, 2004 December 31, 2003 Loans, net of allowance for loan losses $606,501,521 $575,651,786 Debt and equity securities 166,809,609 188,955,832 Total assets 884,942,941 875,595,992 Deposits 687,966,385 665,261,965 Stockholders' equity 91,402,691 87,782,744 Three Months Three Months Statement of income Ended Ended information: Sept.
Under the prospective method of transition the cost of stock options granted to employees in 2002 and prior years is not recognized as an expense in the Company's statement of income.
A reclassification, if required, would have no impact on the Company's total cash flows, consolidated statement of income or consolidated balance sheets.
Instead, Imperial will record its 50% share of HML's operating results as a single line item in its Statement of Income.
The Company will record the entire proceeds, net of associated claim expenses, in the second quarter as "Fire-related income, net" on its Consolidated Statement of Income for the quarter ending June 28, 2003.
In a summons, SOBI states that this amount should have been charged against the statement of income.
The company does believe that its exposure in this matter, should CIGA prevail, would likely be material to the company's consolidated statement of income.
These results do include certain other income and expenses, the detail of which is shown in the Company's Consolidated Statement of Income.
CONSOLIDATED STATEMENT OF INCOME (Dollars and shares in thousands, except per share amounts) Twelve months ended December 31, 2001 Before After Unusual Unusual 2002 Items Items (a) Net sales $1,040,542 $1,019,289 $1,019,289 Expenses: Cost of sales, excluding depreciation 754,571 759,379 777,919 Selling, general and administrative 104,816 95,132 98,655 Depreciation 32,468 31,942 33,165 Total expenses 891,855 886,453 909,739 Operating income (b) 148,687 132,836 109,550 Other income (expenses): Interest expense (25,181) (27,913) (27,913) Other, net (608) 1,028 2,725 Income before income taxes 122,898 105,951 84,362 Provision for income taxes 39,200 35,133 18,251 Net Income (b) $83,698 $70,818 $66,111 Diluted earnings per share (b) $2.
Full browser ?