Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Diamondback Energy Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Oil sales	5,396)	2,410)	3,554)	1,879)	1,044)
Natural gas sales	569)	107)	66)	61)	52)
Natural gas liquid sales	782)	239)	267)	190)	90)
Revenue from contracts with customers	6,747)	2,756)	3,887)	2,130)	1,186)
Midstream services	45)	50)	64)	34)	7)
Other operating income	5)	7)	13)	12)	12)
Revenues	6,797)	2,813)	3,964)	2,176)	1,205)
Lease operating expenses	(565)	(425)	(490)	(205)	(127)
Production and ad valorem taxes	(425)	(195)	(248)	(133)	(74)
Gathering and transportation	(212)	(140)	(88)	(26)	(13)
Midstream services expense	(89)	(105)	(91)	(72)	(10)
Depreciation, depletion, amortization and accretion	(1,275)	(1,311)	(1,454)	(625)	(328)
Impairment of oil and natural gas properties	—)	(6,021)	(790)	—)	—)
General and administrative expenses	(146)	(88)	(104)	(65)	(49)
Merger and integration expense	(78)	—)	—)	(37)	—)
Other operating expense	(6)	(4)	(4)	(3)	—)
Costs and expenses	(2,796)	(8,289)	(3,269)	(1,165)	(600)
Income (loss) from operations	4,001)	(5,476)	695)	1,011)	605)
Interest expense, less capitalized interest	(189)	(195)	(169)	(77)	(39)
Other fees and expenses	(11)	(6)	(4)	(10)	(2)
Interest income	1)	4)	1)	1)	—)
Interest expense, net	(199)	(197)	(172)	(87)	(41)
Other income (expense), net	(10)	(7)	9)	88)	10)
Gain (loss) on derivative instruments, net	(848)	(81)	(108)	101)	(78)
Gain on sale of equity method investments	23)	—)	—)	—)	—)
Loss on extinguishment of debt	(75)	(5)	(56)	—)	—)
Income (loss) from equity investments	15)	(10)	(6)	—)	—)
Other income (expense), net	(1,094)	(300)	(333)	102)	(108)
Income (loss) before income taxes	2,907)	(5,776)	362)	1,113)	497)
(Provision for) benefit from income taxes	(631)	1,104)	(47)	(168)	20)
Net income (loss)	2,276)	(4,672)	315)	945)	517)
Net (income) loss attributable to non-controlling interest	(94)	155)	(75)	(99)	(34)
Net income (loss) attributable to Diamondback Energy, Inc.	2,182)	(4,517)	240)	846)	482)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Income statement item	Description	The company
Revenue from contracts with customers	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Diamondback Energy Inc. revenue from contracts with customers decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Income (loss) from operations	The net result for the period of deducting operating expenses from operating revenues.	Diamondback Energy Inc. income (loss) from operations decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Income (loss) before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Diamondback Energy Inc. income (loss) before income taxes decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Net income (loss) attributable to Diamondback Energy, Inc.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Diamondback Energy Inc. net income (loss) attributable to Diamondback Energy, Inc. decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

Diamondback Energy Inc. (NASDAQ:FANG)

Income Statement