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Income Statement
Difficulty: Beginner
The income statement presents information on the financial results of a company's 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.
Chevron Corp., Consolidated Income Statement
USD $ in millions
| 12 months ended | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||||||
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| Purchased crude oil and products | |
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| Cost of operating revenues | |
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| Excise, value-added and similar taxes | |
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| Gross profit | |
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| Selling, general and administrative expenses | |
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| Exploration expenses | |
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| Depreciation, depletion and amortization | |
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| Import duties and other levies | |
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| Property and other miscellaneous taxes | |
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| Taxes other than on income, excluding excise, value-added and similar taxes | |
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| Operating income (loss) | |
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| Income from equity affiliates | |
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| Other income | |
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| Interest and debt expense | |
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| Income (loss) before income tax expense | |
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| Income tax (expense) benefit | |
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| Net income (loss) | |
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| Net income attributable to noncontrolling interests | |
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| Net income (loss) attributable to Chevron Corporation | |
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| Item | Description | The company |
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| Sales and other operating revenues | Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. | Chevron Corp.'s sales and other operating revenues declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level. |
| Operating income (loss) | The net result for the period of deducting operating expenses from operating revenues. | Chevron Corp.'s operating income (loss) declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level. |
| Income (loss) before income tax expense | Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. | Chevron Corp.'s income (loss) before income tax expense declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level. |
| Net income (loss) | The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. | Chevron Corp.'s net income (loss) declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level. |
| Net income (loss) attributable to Chevron Corporation | The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. | Chevron Corp.'s net income (loss) attributable to Chevron Corporation declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level. |
