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.

Kellanova, consolidated income statement

US$ in millions

12 months ended:	Dec 30, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 28, 2019
Net sales	13,122)	15,315)	14,181)	13,770)	13,578)
Cost of goods sold	(8,839)	(10,700)	(9,621)	(9,043)	(9,197)
Gross profit	4,283)	4,615)	4,560)	4,727)	4,381)
Selling, general and administrative expense	(2,778)	(2,980)	(2,808)	(2,966)	(2,980)
Operating profit	1,505)	1,635)	1,752)	1,761)	1,401)
Interest expense	(303)	(218)	(223)	(281)	(284)
Other income (expense), net	(162)	(220)	437)	121)	188)
Income from continuing operations before income taxes	1,040)	1,197)	1,966)	1,601)	1,305)
Income taxes	(258)	(244)	(474)	(323)	(321)
Earnings (loss) from unconsolidated entities	6)	9)	3)	(14)	(7)
Net income from continuing operations	788)	962)	1,495)	1,264)	977)
Income from discontinued operations, net of taxes	176)	—)	—)	—)	—)
Net income	964)	962)	1,495)	1,264)	977)
Net income attributable to noncontrolling interests	(13)	(2)	(7)	(13)	(17)
Net income attributable to Kellanova	951)	960)	1,488)	1,251)	960)

Based on: 10-K (reporting date: 2023-12-30), 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: 2019-12-28).

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Income statement item	Description	The company
Net 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.	Kellanova net sales increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Operating profit	The net result for the period of deducting operating expenses from operating revenues.	Kellanova operating profit decreased from 2021 to 2022 and from 2022 to 2023.
Income from continuing operations 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.	Kellanova income from continuing operations before income taxes decreased from 2021 to 2022 and from 2022 to 2023.
Net income attributable to Kellanova	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Kellanova net income attributable to Kellanova decreased from 2021 to 2022 and from 2022 to 2023.

Kellanova (NYSE:K)

Income Statement