Generally accepted accounting principles and as reported in the company s annual report to shareholders or as otherwise reported to shareholders. Operating income gross profit operating expenses depreciation amortization.
If applicable for the performance period computed in accordance with u s.
Income from continuing operations before income taxes. Operating income net earnings interest expense taxes. And iii cumulative effect of change in accounting principle. It s a line item on the income statement that notes the after tax earnings the business generates from its continuing operations.
Federal income taxes provision benefit 3454000 current u s. There are three formulas to calculate income from operations. Income loss from continuing operations before income taxes non u s.
State local income taxes provision benefit 495000 current international income taxes provision benefit 1510000 current provision benefit for income taxes 5459000. Income from continuing operations is also known. Income loss from continuing operations this element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items cumulative effects of changes in accounting principles and noncontrolling interest.
Income from continuing operations is a net income category found on the income statement that accounts for a company s regular business activities. Also known as operating income or operating earnings the income from continuing operations excludes irregular revenue and expenses. Income statement partial for the year ended december 31 2020 income from continuing operations before income tax 1 738 500 1 income tax expense 505 350 2 income from continuing operations 1 233 150 discontinued operations.
Operating income total revenue direct costs indirect costs. The income from continuing operations is the revenue that a business generates from its primary business activities minus the expenses that it incurs in generating income. Loss on disposal of recreational division 115 000 less applicable income tax reduction 3 34 500 80 500.
Income from continuing operations before income taxes means the consolidated income before income taxes and excluding i discontinued operations. 4817000 income loss from continuing operations before income taxes 20497000 current u s.