Income Statement $--Page 2: Fill & Download for Free

Reuters uses tables to summarize financial statement data on their site. You can easily import the statements into Excel via an external web query. Here's how you can do it:Open up Excel and on the top ribbon, click Data -> From Web (in the Get External Data" section.Go to Reuter's website and login with your credentials. This will ensure that the query is pulling all of the data, and not just a preview.Go to the financial statement page you're trying to import, and you'll see a Yellow Arrow next to the table. Click the arrow (it will turn blue), and then click Import. The data will be automatically pulled into Excel.If you know a little bit of VBA code you can automatically have Excel import the three financial statements onto three separate sheets (income statement, balance sheet, statement of cash flows).

It's creative price discrimination. Say six different people go into your local ER and need to get a CT scan. The hospital will send everyone a bill saying that the cost was $2,000. The hospital will then receive six very different payments:The homeless person doesn't pay anything, and the hospital knows it's not worth its while to pursue that person in collections.Medicare pays $150 for the old person, since that's the published rate it pays for such a service.Yishan's insurance pays $300, because (hypothetically) he's with a big insurance carrier and it's important for the hospital to have access to that carrier's patients, even if it means getting a lower margin than they will from some others.Joe Shmoe's insurance pays $500, because he has a less important carrier in the region that has less leverage with the hospital.The graduate student temporarily without insurance comes into the hospital's billing department saying there's no way he can afford the full bill, so the hospital (which wants to get at least some payment) lowers the fee to $700 and puts him on a payment plan.Some rich guy learns his out-of-state insurance carrier won't cover the bill for him due to some technicality, so even though he's pissed, he goes ahead and pays up the entire $2,000 out of pocket to avoid some big dispute with his carrier or the hospital (the rarest of scenarios).Hospitals frequently have a ~80% difference between "gross patient revenue" which is the list price of all services billed, and "net patient revenue" which is how much they were actually paid for their services.Page 2 here (http://www.oshpd.ca.gov/afpdfs/ShowRPT.aspx?ID=48838) has the income statement for the UCSF Medical Center in 2009, where you'll see $5.6 billion in gross patient revenue and $1.6 billion in net patient revenue (ultimately leading to a net income of $80 million).

Because (1) not all US corporations are highly profitable and (2) the very profitable corporations (like Intel, Apple) need to sell to the less profitable corporations (like retailers like Macys and Car Companies like Ford) in order to grow and (3) very high US corporate tax rates (around 35%) drive business to move operations to nations with lower rates (like “Socialist” Sweden at 22% or Ireland at 12.5%)Brief list of Corporate tax rates by nation - tax rates tool test pageThe Effective rate for some US corporations is lower because they have operations in nations like Ireland and other places that have favorable tax policies. Companies in some sectors, such as technology, can also benefit from R&D tax credits, as well as factories outside the US.Companies that don’t have these options, like the Union Pacific Railroad, which is almost all in the US, and US based retail, like Macys, pay much higher rates.Macys financials - scroll down to “Income before Tax” 952,000then look at “Income Tax expense” 341,000 That is a really big bite… 35.8%M Income Statement | Macy's Inc Common Stock Stock - Yahoo FinanceUnion Pacific Railroad financials -Income before tax 6,766,000Income tax expense 2,533,000 That is 37% (includes State income taxes)UNP Income Statement | Union Pacific Corporation Commo Stock - Yahoo FinanceContrast with Intel, which is paying 20.2 %INTC Income Statement | Intel Corporation Stock - Yahoo FinanceWhy do we need to lower tax rates, instead of just incentivizing factory jobs ? Because we want to capture as much of the value chain as possible - not just the factory jobs, but the design work, the legal work, the property tax on the factory, and trucking, shipping and receiving all the way back to raw materials. Just having tax credits for factory jobs often results in “screwdriver plants (assembly only)”, where only part of the work is done, but much of the value added is in key components, like microprocessors or engines. And since much of the future work will be done by robots, we want to make sure those are mostly American robots maintained by Americans.