profit and loss statement

(redirected from Statements 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 ?
AND SUBSIDIARIES NOTES TO CONSOLIDATED STATEMENTS OF INCOME AND RECONCILIATION OF ADJUSTED RESULTS (Unaudited)
5 million for the quarter ended March 31, 2008 relate to the Louisville, Kentucky pension plan termination, which is included in the securitization, impairment and other costs line of our consolidated Statements of Income.
4 million of investigatory and audit costs related to the restatement of our financial statements which are included in the selling, general and administrative expense line of our consolidated statements of income (loss) and $0.
The consolidated statements of income, consolidated balance sheets, and corrected consolidated statements of cash flows are attached.
The following table presents total of the share-based compensation expense (benefit) that is included in each functional line item in the consolidated statements of income (in thousands):
AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME AND RECONCILIATION OF ADJUSTED RESULTS THIRTEEN WEEKS ENDED APRIL 30, 2005 AND MAY 1, 2004 (Unaudited) (In thousands except per share amounts) 2004 2005 Reported Adjustments Adjusted Net Sales $1,974,932 $1,978,203 - $1,978,203 Gross Income 608,855 675,654 - 675,654 General, Administrative and Store Operating Expenses (560,597) (556,282) - (556,282) Operating Income 48,258 119,372 - 119,372 Interest Expense (23,069) (11,643) - (11,643) Interest Income 5,328 7,974 - 7,974 Other Income (Loss) 2,628 40,934 (44,857) (3,923) Income Before Income Taxes 33,145 156,637 (44,857) 111,780 Provision for Income Taxes 10,000 60,000 (16,000) 44,000 Net Income $23,145 $96,637 (28,857) $67,780 Net Income Per Share $0.
This charge, which is included in the 2004 results below, is recorded in cost of goods sold, buying and occupancy in the Consolidated Statements of Income and is described in more detail in the Company's Form 10-K.
To give a better representation of the business performance of the Group, it has been decided to publish and explain adjusted proforma statements of income for 2004 and 2003, which exclude material impacts arising from the accounting treatment of the transaction as well as restructuring charges.
Seminar topics range from in-depth analyses of variances between budgeted and actual statements of income, best practice details of the CFO's/Controller's integration within the organization's strategic planning team and how to create and deliver director-level presentations.
AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME AND RECONCILIATION OF ADJUSTED RESULTS THIRTEEN WEEKS ENDED JANUARY 29, 2005 AND JANUARY 31, 2004 (Unaudited) (In thousands except per share amounts) 2004 2003 Net Sales $3,328,422 $3,230,918 Gross Income 1,352,291 1,341,103 General, Administrative and Store Operating Expenses (663,617) (699,611) Operating Income 688,674 641,492 Interest Expense (21,342) (11,733) Interest Income 7,013 8,637 Other Income (Loss) 4,461 (3,749) Income Before Income Taxes 678,806 634,647 Provision for Income Taxes 263,000 247,000 Net Income $415,806 $387,647 Net Income Per Share $0.
The company is still analyzing the appropriate amount and classifications of the tax liabilities and assets to be reflected in the consolidated balance sheets and the provision for income taxes to be reflected in the consolidated statements of income.
AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME AND RECONCILIATION OF ADJUSTED RESULTS THIRTEEN WEEKS ENDED JULY 31, 2004 AND AUGUST 2, 2003 (Unaudited) (In thousands except per share amounts) 2004 Reported Adjustments Adjusted 2003 Net Sales $2,210,832 - $2,210,832 $2,014,106 Gross Income 797,969 - 797,969 702,224 General, Administrative and Store Operating Expenses (571,026) - (571,026) (531,857) Operating Income 226,943 - 226,943 170,367 Interest Expense (12,047) - (12,047) (11,425) Interest Income 8,459 - 8,459 8,107 Other Income (Loss) 980 - 980 910 Gain on Investees' Stock 17,617 (17,617) - - Income Before Income Taxes 241,952 (17,617) 224,335 167,959 Provision for Income Taxes 94,000 (7,000) 87,000 66,000 Net Income $147,952 ($10,617) $137,335 $101,959 Net Income Per Share $0.
Full browser ?