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.

Lam Research Corp., consolidated income statement

US$ in thousands

12 months ended:	Jun 30, 2024	Jun 25, 2023	Jun 26, 2022	Jun 27, 2021	Jun 28, 2020	Jun 30, 2019
Revenue	14,905,386)	17,428,516)	17,227,039)	14,626,150)	10,044,736)	9,653,559)
Cost of goods sold	(7,809,220)	(9,573,425)	(9,355,232)	(7,820,844)	(5,436,043)	(5,295,100)
Restructuring charges, net, cost of goods sold	(43,375)	(78,166)	—)	—)	—)	—)
Cost of goods sold	(7,852,595)	(9,651,591)	(9,355,232)	(7,820,844)	(5,436,043)	(5,295,100)
Gross margin	7,052,791)	7,776,925)	7,871,807)	6,805,306)	4,608,693)	4,358,459)
Research and development	(1,902,444)	(1,727,162)	(1,604,248)	(1,493,408)	(1,252,412)	(1,191,320)
Selling, general, and administrative	(868,247)	(832,753)	(885,737)	(829,875)	(682,479)	(702,407)
Restructuring charges, net, operating expenses	(18,187)	(42,150)	—)	—)	—)	—)
Operating expenses	(2,788,878)	(2,602,065)	(2,489,985)	(2,323,283)	(1,934,891)	(1,893,727)
Operating income	4,263,913)	5,174,860)	5,381,822)	4,482,023)	2,673,802)	2,464,732)
Interest income	251,938)	138,984)	15,209)	19,687)	85,433)	98,771)
Interest expense	(185,236)	(186,462)	(184,759)	(208,597)	(177,440)	(117,263)
Gains (losses) on deferred compensation plan related assets, net	58,767)	20,186)	(38,053)	61,838)	5,999)	10,464)
Foreign exchange gains (losses), net	(4,837)	(7,078)	(723)	(6,962)	(3,317)	826)
Other, net	(24,323)	(31,280)	19,618)	22,815)	(9,499)	(10,959)
Other income (expense), net	96,309)	(65,650)	(188,708)	(111,219)	(98,824)	(18,161)
Income before income taxes	4,360,222)	5,109,210)	5,193,114)	4,370,804)	2,574,978)	2,446,571)
Income tax expense	(532,450)	(598,279)	(587,828)	(462,346)	(323,225)	(255,141)
Net income	3,827,772)	4,510,931)	4,605,286)	3,908,458)	2,251,753)	2,191,430)

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).

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Income statement item	Description	The company
Revenue	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.	Lam Research Corp. revenue increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Lam Research Corp. operating income decreased from 2022 to 2023 and from 2023 to 2024.
Income 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.	Lam Research Corp. income before income taxes decreased from 2022 to 2023 and from 2023 to 2024.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Lam Research Corp. net income decreased from 2022 to 2023 and from 2023 to 2024.

Lam Research Corp. (NASDAQ:LRCX)

Income Statement