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.

Bristol-Myers Squibb Co., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net product sales	43,778)	44,671)	45,055)	41,321)	25,174)
Alliance and other revenues	1,228)	1,488)	1,330)	1,197)	971)
Revenues	45,006)	46,159)	46,385)	42,518)	26,145)
Cost of products sold, excludes amortization of acquired intangible assets	(10,693)	(10,137)	(9,940)	(11,773)	(8,078)
Gross margin	34,313)	36,022)	36,445)	30,745)	18,067)
Marketing, selling and administrative	(7,772)	(7,814)	(7,690)	(7,661)	(4,871)
Research and development	(9,299)	(9,509)	(10,195)	(10,048)	(6,148)
Acquired IPRD	(913)	(815)	(1,159)	(12,533)	—)
Amortization of acquired intangible assets	(9,047)	(9,595)	(10,023)	(9,688)	(1,135)
Operating income (loss)	7,282)	8,289)	7,378)	(9,185)	5,913)
Interest expense	(1,166)	(1,232)	(1,334)	(1,420)	(656)
Royalty and licensing income	1,488)	1,283)	1,067)	883)	1,360)
Royalty income, divestitures	862)	832)	666)	644)	—)
Equity investment income (losses), net	(160)	(801)	745)	1,228)	275)
Integration expenses	(242)	(440)	(564)	(717)	(415)
Loss on debt redemption	—)	(266)	(281)	—)	—)
Divestiture gains	—)	211)	9)	55)	1,168)
Litigation and other settlements	390)	(178)	(82)	194)	(77)
Investment income	449)	171)	39)	121)	464)
Provision for restructuring	(365)	(75)	(169)	(530)	(301)
Contingent consideration	8)	9)	542)	1,757)	(523)
Acquisition expenses	—)	—)	—)	—)	(657)
Other	(106)	(90)	82)	99)	(1,576)
Other income (expense), net	1,158)	(576)	720)	2,314)	(938)
Earnings (loss) before income taxes	8,440)	7,713)	8,098)	(6,871)	4,975)
Provision for income taxes	(400)	(1,368)	(1,084)	(2,124)	(1,515)
Net earnings (loss)	8,040)	6,345)	7,014)	(8,995)	3,460)
Noncontrolling interest	(15)	(18)	(20)	(20)	(21)
Net earnings (loss) attributable to BMS	8,025)	6,327)	6,994)	(9,015)	3,439)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Income statement item	Description	The company
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.	Bristol-Myers Squibb Co. revenues decreased from 2021 to 2022 and from 2022 to 2023.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	Bristol-Myers Squibb Co. operating income (loss) increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Earnings (loss) 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.	Bristol-Myers Squibb Co. earnings (loss) before income taxes decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net earnings (loss) attributable to BMS	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Bristol-Myers Squibb Co. net earnings (loss) attributable to BMS decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Bristol-Myers Squibb Co. (NYSE:BMY)

Income Statement