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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
Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-20), 10-K (filing date: 2014-02-21).
| Item | Description | The company |
|---|---|---|
| Sales and other operating revenues | 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. | 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 | 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. | 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) attributable to Chevron Corporation | The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. | 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. |