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.

Procter & Gamble Co., consolidated income statement

US$ in millions

12 months ended:	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019
Net sales	84,039)	82,006)	80,187)	76,118)	70,950)	67,684)
Cost of products sold	(40,848)	(42,760)	(42,157)	(37,108)	(35,250)	(34,768)
Gross profit	43,191)	39,246)	38,030)	39,010)	35,700)	32,916)
Selling, general and administrative expense	(23,305)	(21,112)	(20,217)	(21,024)	(19,994)	(19,084)
Indefinite-lived intangible asset impairment charge	(1,341)	—)	—)	—)	—)	(8,345)
Operating income	18,545)	18,134)	17,813)	17,986)	15,706)	5,487)
Interest expense	(925)	(756)	(439)	(502)	(465)	(509)
Interest income	473)	307)	51)	45)	155)	220)
Other non-operating income (expense), net	668)	668)	570)	86)	438)	871)
Earnings before income taxes	18,761)	18,353)	17,995)	17,615)	15,834)	6,069)
Income taxes	(3,787)	(3,615)	(3,202)	(3,263)	(2,731)	(2,103)
Net earnings	14,974)	14,738)	14,793)	14,352)	13,103)	3,966)
Net earnings attributable to noncontrolling interests	(95)	(85)	(51)	(46)	(76)	(69)
Net earnings attributable to Procter & Gamble (P&G)	14,879)	14,653)	14,742)	14,306)	13,027)	3,897)
Preferred dividends	(284)	(282)	(281)	(271)	(263)	(263)
Net earnings attributable to P&G available to common shareholders	14,595)	14,371)	14,461)	14,035)	12,764)	3,634)

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

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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.	Procter & Gamble Co. net sales increased from 2022 to 2023 and from 2023 to 2024.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Procter & Gamble Co. operating income increased from 2022 to 2023 and from 2023 to 2024.
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.	Procter & Gamble Co. earnings before income taxes increased from 2022 to 2023 and from 2023 to 2024.
Net earnings attributable to Procter & Gamble (P&G)	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Procter & Gamble Co. net earnings attributable to Procter & Gamble (P&G) decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Procter & Gamble Co. (NYSE:PG)

Income Statement