Stock Analysis on Net
Stock Analysis on Net
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ConocoPhillips (NYSE:COP)

This company was transferred to the archive: financial data is no longer updated!

Income Statement

Beginner level

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.

ConocoPhillips, consolidated income statement

US$ in millions

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12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Sales and other operating revenues 32,567  36,417  29,106  23,693  29,564 
Purchased commodities (11,842) (14,294) (12,475) (9,994) (12,426)
Production and operating expenses (5,322) (5,213) (5,173) (5,667) (7,016)
Cost of operating revenues (17,164) (19,507) (17,648) (15,661) (19,442)
Gross profit 15,403  16,910  11,458  8,032  10,122 
Selling, general and administrative expenses (556) (401) (561) (723) (953)
Exploration expenses (743) (369) (938) (1,915) (4,192)
Depreciation, depletion and amortization (6,090) (5,956) (6,845) (9,062) (9,113)
Impairments (405) (27) (6,601) (139) (2,245)
Taxes other than income taxes (953) (1,048) (809) (739) (901)
Accretion on discounted liabilities (326) (353) (362) (425) (483)
Operating income (loss) 6,330  8,756  (4,658) (4,971) (7,765)
Equity in earnings of affiliates 779  1,074  772  52  655 
Gain on dispositions 1,966  1,063  2,177  360  591 
Interest income 166  97  112  57  45 
Unrealized gains (losses) on Cenovus Energy common shares 649  (437) —  —  — 
Other, net 543  513  417  198  80 
Other income 1,358  173  529  255  125 
Interest and debt expense (778) (735) (1,098) (1,245) (920)
Foreign currency transaction gains (losses) (66) 17  (35) 19  75 
Other expense (65) (375) (302) —  — 
Income (loss) before income taxes 9,524  9,973  (2,615) (5,530) (7,239)
Income tax (provision) benefit (2,267) (3,668) 1,822  1,971  2,868 
Net income (loss) 7,257  6,305  (793) (3,559) (4,371)
Net income attributable to noncontrolling interests (68) (48) (62) (56) (57)
Net income (loss) attributable to ConocoPhillips 7,189  6,257  (855) (3,615) (4,428)

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
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. ConocoPhillips’s sales and other operating revenues increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. ConocoPhillips’s operating income (loss) 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 increased from 2017 to 2018 but then slightly decreased 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 increased from 2017 to 2018 and from 2018 to 2019.