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## Definition

revenues minus expenses

The exact definition of net income varies by industry and may be calculated differently even within an industry. For example, depreciation is typically included in expenses when calculating net income, but not in real estate calculations. Similarly, taxes are generally included in expenses, but not for partnership calculations.

On an income statement, net income is typically the last number shown and represents the results of adding and subtracting all the other numbers above it. Accordingly, when people ask for the

The exact definition of net income varies by industry and may be calculated differently even within an industry. For example, depreciation is typically included in expenses when calculating net income, but not in real estate calculations. Similarly, taxes are generally included in expenses, but not for partnership calculations.

On an income statement, net income is typically the last number shown and represents the results of adding and subtracting all the other numbers above it. Accordingly, when people ask for the

*"bottom line,"*frequently they are asking for net income. Alternatively, they may be talking metaphorically and asking for the end result without all the intermediate details.- He had taken over a shaky little railroad in Arizona, a road whose
__net revenue__was "less than that of a successful grocery store, and he had built it into the best railroad of the Southwest.1.4 Part 1 Chapter 4 — The Immovable Movers (58% in)

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*Atlas Shrugged*.
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