ConocoPhillips (COP)

Common-Size Income Statement

Beginner level

ConocoPhillips, common-size consolidated income statement

12 months ended	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Sales and other operating revenues	100.00%	100.00%	100.00%	100.00%	100.00%
Purchased commodities	-36.36%	-39.25%	-42.86%	-42.18%	-42.03%
Production and operating expenses	-16.34%	-14.31%	-17.77%	-23.92%	-23.73%
Cost of operating revenues	-52.70%	-53.57%	-60.63%	-66.10%	-65.76%
Gross profit	47.30%	46.43%	39.37%	33.90%	34.24%
Selling, general and administrative expenses	-1.71%	-1.10%	-1.93%	-3.05%	-3.22%
Exploration expenses	-2.28%	-1.01%	-3.22%	-8.08%	-14.18%
Depreciation, depletion and amortization	-18.70%	-16.35%	-23.52%	-38.25%	-30.82%
Impairments	-1.24%	-0.07%	-22.68%	-0.59%	-7.59%
Taxes other than income taxes	-2.93%	-2.88%	-2.78%	-3.12%	-3.05%
Accretion on discounted liabilities	-1.00%	-0.97%	-1.24%	-1.79%	-1.63%
Operating income (loss)	19.44%	24.04%	-16.00%	-20.98%	-26.27%
Equity in earnings of affiliates	2.39%	2.95%	2.65%	0.22%	2.22%
Gain on dispositions	6.04%	2.92%	7.48%	1.52%	2.00%
Interest income	0.51%	0.27%	0.38%	0.24%	0.15%
Unrealized gains (losses) on Cenovus Energy common shares	1.99%	-1.20%	0.00%	0.00%	0.00%
Other, net	1.67%	1.41%	1.43%	0.84%	0.27%
Other income	4.17%	0.48%	1.82%	1.08%	0.42%
Interest and debt expense	-2.39%	-2.02%	-3.77%	-5.25%	-3.11%
Foreign currency transaction gains (losses)	-0.20%	0.05%	-0.12%	0.08%	0.25%
Other expense	-0.20%	-1.03%	-1.04%	0.00%	0.00%
Income (loss) before income taxes	29.24%	27.39%	-8.98%	-23.34%	-24.49%
Income tax (provision) benefit	-6.96%	-10.07%	6.26%	8.32%	9.70%
Net income (loss)	22.28%	17.31%	-2.72%	-15.02%	-14.78%
Net income attributable to noncontrolling interests	-0.21%	-0.13%	-0.21%	-0.24%	-0.19%
Net income (loss) attributable to ConocoPhillips	22.07%	17.18%	-2.94%	-15.26%	-14.98%

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-23).

Income statement item	Description	The company
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	ConocoPhillips’s operating income (loss) as a percentage of sales and other operating revenues increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
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.	ConocoPhillips’s income (loss) before income taxes as a percentage of sales and other operating revenues increased from 2017 to 2018 and from 2018 to 2019.
Net income (loss) attributable to ConocoPhillips	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	ConocoPhillips’s net income (loss) attributable to ConocoPhillips as a percentage of sales and other operating revenues increased from 2017 to 2018 and from 2018 to 2019.