Income Statement and Minority Interest question?

I'll apologize in advance. Because this is sort of a Dumb question, however when we did basic financial modeling in College in my corporate finance the problems our professor gave us never had minority interest listed a such in the income statement. Now when I'm doing a sample valuation I'm presenting to an alumni I'm running into a bit of trouble specially since I'm trying to make sure that the Net Income in both the income statement and cash flow statement match in the historicals.so I'm gonna put up a numerical example so let say is like this

Income statement
Sales: 16,385.0
Cogs: 4,619.0
Gross Profit: 11,766.0
SGA & Other expenses: 8,670.0
Operating Income (EBIT): 3,096.0
Interest Expense 199.0
Net Non-Operating Losses (Gains): 6.0
Pretax Income: 2,891.0
Taxes: 311.0
Minority Interest Expense: (17.0)
Net Income: 2,563.0

However in the cash flow statement in the 10k says the following:

Cash flow Statement:

Net Income: 2,580.0

I created the Financial Statement Model using the Wall Street Prep sample template with some minor modifications now I will think the appropriate solution for such would be the following:

Income statement
Sales: 16,385.0
Cogs: 4,619.0
Gross Profit: 11,766.0
SGA & Other expenses: 8,670.0
Operating Income (EBIT): 3,096.0
Interest Expense 199.0
Net Non-Operating Losses (Gains): 6.0
Pretax Income: 2,891.0
Taxes: 311.0
Net Income: 2,58.0
Minority Interest Expense: 17.0
Net Income Available to common shareholders 2,563.0

I know this something probably something simple however my accounting is a bid rusty in certain areas I'm just trying to make sense of why the minority expense line item would come after the net income line??? also for Financial Metrics Purposes such as ROE, ROA and Profit Margin will we use the Net Income orNet Income Available to common shareholders thanks in advance sorry my accounting classes at school were easy I guess that the main disadvantage of going to a nontarget school. As for which company's finacials Im using its the Bristol Myers Squibb 2013 10k the IS, BS and CF are found in pages 63,64 and 65 in the PDF

Attachment Size
BristolMyersSquibb_10K_20140214-1.pdf 2.63 MB 2.63 MB
 
Best Response

Nihil eaque amet modi. Et quas assumenda maiores. Quo dolorem enim enim possimus dolorem aut rem. Et omnis et itaque fugit porro veritatis animi.

Porro voluptatem sed dolorum. Non fugit aperiam a. Consequatur in modi repellat aut labore. Voluptatem porro aut suscipit enim cum consequuntur.

Career Advancement Opportunities

June 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Perella Weinberg Partners New 98.9%
  • Lazard Freres 01 98.3%
  • Harris Williams & Co. 24 97.7%
  • Goldman Sachs 17 97.1%

Overall Employee Satisfaction

June 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.9%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 05 97.7%
  • Moelis & Company 01 97.1%

Professional Growth Opportunities

June 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Perella Weinberg Partners 18 98.3%
  • Goldman Sachs 16 97.7%
  • Moelis & Company 05 97.1%

Total Avg Compensation

June 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (22) $375
  • Associates (92) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (68) $168
  • 1st Year Analyst (206) $159
  • Intern/Summer Analyst (149) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”