In the black is a great little turn of phrase for companies and individuals alike, especially during difficult economic times. It means that the company is operating within its means and in keeping with revenues generated. It’s long been standard accounting practice is to record positive numbers in black ink and negative numbers in red ink.
On January 28, 2001 the Toledo Blade published an article entitled, “A Debt To Repay” that addressed the subject of tax cuts and the U.S. national debt. It read in part:
Despite a federal budget now operating in the black, the national debt now stands at $5.7 trillion (with a T). The interest expense on the debt last year was $362 billion (with a B). That means taxpayers put out more money in interest charges than they did for, say, national defense, which cost about $291 billion.
The Miami News ran a news story on April 15, 1960 about FM radio stations, most of which suffered considerably because of the television boom after World War II. The article entitled, “FM Bouncing Back To Rival Sister AM” reported in part:
The number of independent FM stations has jumped past 100 “and most of the commercial stations are operating in the black,” Fogel said. The FCC is being rushed with applications for new FM stations.
The Berkeley Daily Gazette ran a United Press story entitled, “Utilities Lead In New York Decline” on May 18, 1932 as the Great Depression hit its third year. It stated quite simply:
Consolidated Oil was firm on a statement by Harry P. Sinclair, chairman of the board, that the company was now operating in the black.
Back on February 22, 1923 the Wall Street Journal ran a story about Matthew C. Brush, president of American International Corporation and his denial of reports that were being circulated at the time claiming that American International was trying to see one of its largest proprietary companies, G. Amsinck & Co. It stated in part:
But there is no reason why we should want to sell Amsinck The company is in better shape than in years. It is operating in the black and negotiations are practically concluded with important interests in two South American countries which give every indication of being profitable in the future.
While some may claim that “in the black” and “in the red” were considered slang back in the day, the term “in the black” appears to have had sufficient legitimacy in proper English to be used by at least one company president being quoted in the Wall Street Journal in 1923. Idiomation was unable, however, to find an earlier published version of the expression.
Historically Speaking 