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Income Statement · Annual · Millions · USD

Line item	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Total revenues	9,298	9,927	8,650	7,429	8,894	10,420	9,795	10,112	10,283	11,100
Cost of revenue	2,004	2,221	2,023	1,585	1,797	2,650	2,680	2,833	2,880	3,169
Gross profit	7,294	7,706	6,627	5,844	7,097	7,770	7,115	7,279	7,403	7,931
Research and development	1,114	1,224	1,051	930	1,028	1,325	1,330	1,544	1,479	1,642
Selling, general and administrative	3,590	3,908	3,555	2,854	3,076	3,091	3,099	3,413	3,233	3,592
Total operating expenses	4,969	5,442	4,875	4,074	4,461	4,847	4,765	5,338	5,085	5,654
Operating income	2,325	2,264	1,752	1,770	2,636	2,923	2,350	1,941	2,318	2,277
Interest expense	225	292	326	311	304	269	235	263	259	246
Interest and investment income	125	177	176	112	38	19	73	204	272	265
Other non-operating income (expense)	83	11	(16)	(1)	(32)	–	–	–	–	–
Income before taxes	3,651	2,275	2,249	1,652	3,345	398	(1,601)	3,707	2,278	2,307
Income tax expense	(3,634)	3,288	121	219	858	146	(327)	932	297	311
Net income from continuing operations	7,285	(1,013)	2,128	1,433	2,487	252	(1,274)	2,775	1,981	1,996
Net income	7,266	(1,017)	2,530	1,786	5,667	13,608	(1,269)	2,767	1,975	2,031