Corporate Income Statement

Last Updated: July 08, 2026 at 12:04 PM EST

Author

Mike Aguilar
/in/mike-aguilar-econ/
mike.aguilar at duke.edu

Corporate Income Statement (Mln$)
Accounting Concept 2022 2023 2024 2025
Gross Profit 15,322,598 16,125,928 16,961,079 17,885,075
Depreciation 2,287,902 2,447,353 2,583,318 2,742,753
OpEx (Total) 9,683,961 10,155,227 10,694,088 11,304,407
Employee Comp 8,504,055 8,960,619 9,443,321 9,891,479
Wages and Salaries 7,232,466 7,599,293 7,993,400 8,364,494
Supplements to Wages and Salaries 1,271,589 1,361,327 1,449,921 1,526,985
Taxes on production 1,179,906 1,194,608 1,250,767 1,412,928
Operating Income 3,350,735 3,523,348 3,683,673 3,837,914
Interest Expense 240,968 168,012 88,225 43,823
Business Transfers 196,648 211,086 251,287 243,206
Income Tax 600,568 613,010 680,341 695,171
Dividends 1,644,556 1,741,153 1,880,004 1,706,853
IVA -161,468 32,987 -8,915 -56,794
CCAdj -83,266 -270,898 -368,494 -79,721
GAAP
EBT 3,157,852 3,382,161 3,721,570 3,687,399
EBT Receipts from RoW 936,447 948,078 985,914 1,074,344
EBT Payments to RoW 486,965 475,002 528,324 547,766
Net Income 2,557,284 2,769,151 3,041,229 2,992,228
Retained Earnings 912,728 1,027,997 1,161,225 1,285,375
NonGAAP
EBT 2,913,118 3,144,250 3,344,161 3,550,884
Net Income 2,312,550 2,531,240 2,663,820 2,855,713
Retained Earnings 667,994 790,086 783,816 1,148,860
Ratios & Rates (%)
Retention Ratio 0.289 0.312 0.294 0.402
Payout Ratio 0.711 0.688 0.706 0.598
Effective Tax Rate 0.260 0.242 0.255 0.243