Name: Kraft Foods Group Inc. (NASDAQ:KRFT) | Income Statement
Creator: Stock Analysis on Net

Income Statement

The income statement presents information on the financial results of a company 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.

Kraft Foods Group Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 27, 2014	Dec 28, 2013	Dec 29, 2012
Net revenues	18,205)	18,218)	18,339)
Cost of sales	(13,360)	(11,395)	(12,499)
Gross profit	4,845)	6,823)	5,840)
Selling, general and administrative expenses	(2,956)	(2,124)	(3,029)
Asset impairment and exit costs	1)	(108)	(141)
Operating income	1,890)	4,591)	2,670)
Interest and other expense, net	(484)	(501)	(258)
Royalty income from Mondelēz International	—)	—)	41)
Earnings before income taxes	1,406)	4,090)	2,453)
Provision for income taxes	(363)	(1,375)	(811)
Net earnings	1,043)	2,715)	1,642)

Based on: 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29).

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Income statement item	Description	The company
Net 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.	Kraft Foods Group Inc. net revenues decreased from 2012 to 2013 and from 2013 to 2014.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Kraft Foods Group Inc. operating income increased from 2012 to 2013 but then decreased significantly from 2013 to 2014.
Earnings 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.	Kraft Foods Group Inc. earnings before income taxes increased from 2012 to 2013 but then decreased significantly from 2013 to 2014.
Net earnings	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Kraft Foods Group Inc. net earnings increased from 2012 to 2013 but then decreased significantly from 2013 to 2014.