Identifying Operating and Nonrecurring Income Components Following is the The Dow Chemical Company income statement. ($ millions) For Year Ended December 31 Net sales Cost of sales Research and development expenses Selling, general, and administrative expenses Amortization of intangibles Goodwill and other intangible asset impairment losses Restructuring charges (credits) Asbestos-related charge Equity in earnings of nonconsolidated affiliates Sundry income (expense)-net Interest income Interest expense and amortization of debt discount Income before income taxes Provision for income taxes Net income 2014 2013 $58,167 $57,080 47,464 47,594 1,647 1,747 3,106 3,024 436 461 50 (3) 78 835 1,034 (27) 2,554 51 41 983 1,101 5,265 6,804 1,426 1,988 $3,839 $4,816 (22)
Identifying Operating and Nonrecurring Income Components Following is the The Dow Chemical Company income statement. ($ millions) For Year Ended December 31 Net sales Cost of sales Research and development expenses Selling, general, and administrative expenses Amortization of intangibles Goodwill and other intangible asset impairment losses Restructuring charges (credits) Asbestos-related charge Equity in earnings of nonconsolidated affiliates Sundry income (expense)-net Interest income Interest expense and amortization of debt discount Income before income taxes Provision for income taxes Net income 2014 2013 $58,167 $57,080 47,464 47,594 1,647 1,747 3,106 3,024 436 461 50 (3) 78 835 1,034 (27) 2,554 51 41 983 1,101 5,265 6,804 1,426 1,988 $3,839 $4,816 (22)
Chapter1: Financial Statements And Business Decisions
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