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.

Walgreens Boots Alliance Inc., consolidated income statement

US$ in millions

12 months ended:	Aug 31, 2019	Aug 31, 2018	Aug 31, 2017	Aug 31, 2016	Aug 31, 2015	Aug 31, 2014
Sales	136,866)	131,537)	118,214)	117,351)	103,444)	76,392)
Cost of sales	(106,790)	(100,745)	(89,052)	(87,477)	(76,520)	(54,823)
Gross profit	30,076)	30,792)	29,162)	29,874)	26,924)	21,569)
Selling, general and administrative expenses	(25,242)	(24,569)	(23,740)	(23,910)	(22,571)	(17,992)
Equity earnings in AmerisourceBergen	164)	191)	135)	37)	—)	—)
Equity earnings in Alliance Boots	—)	—)	—)	—)	315)	617)
Operating income	4,998)	6,414)	5,557)	6,001)	4,668)	4,194)
Gain on previously held equity interest	—)	—)	—)	—)	563)	—)
Other income (expense)	233)	177)	(11)	(261)	685)	(481)
Earnings before interest and income tax provision	5,231)	6,591)	5,546)	5,740)	5,916)	3,713)
Interest expense, net	(704)	(616)	(693)	(596)	(605)	(156)
Earnings before income tax provision	4,527)	5,975)	4,853)	5,144)	5,311)	3,557)
Income tax provision	(588)	(998)	(760)	(997)	(1,056)	(1,526)
Post tax earnings from other equity method investments	23)	54)	8)	44)	24)	—)
Net earnings	3,962)	5,031)	4,101)	4,191)	4,279)	2,031)
Net (earnings) loss attributable to noncontrolling interests	20)	(7)	(23)	(18)	(59)	(99)
Net earnings attributable to Walgreens Boots Alliance, Inc.	3,982)	5,024)	4,078)	4,173)	4,220)	1,932)

Based on: 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-31), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-08-31), 10-K (reporting date: 2015-08-31), 10-K (reporting date: 2014-08-31).

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Income statement item	Description	The company
Sales	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.	Walgreens Boots Alliance Inc. sales increased from 2017 to 2018 and from 2018 to 2019.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Walgreens Boots Alliance Inc. operating income increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.
Earnings before income tax provision	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.	Walgreens Boots Alliance Inc. earnings before income tax provision increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.
Net earnings attributable to Walgreens Boots Alliance, Inc.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Walgreens Boots Alliance Inc. net earnings attributable to Walgreens Boots Alliance, Inc. increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.

Walgreens Boots Alliance Inc. (NASDAQ:WBA)

Income Statement