ConocoPhillips (COP)

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.

ConocoPhillips, consolidated income statement

US$ in millions

	12 months ended	Dec 31, 2018		Dec 31, 2017		Dec 31, 2016		Dec 31, 2015		Dec 31, 2014
	Sales and other operating revenues
	Purchased commodities
	Production and operating expenses
	Cost of operating revenues
	Gross profit
	Selling, general and administrative expenses
	Exploration expenses
	Depreciation, depletion and amortization
	Impairments
	Taxes other than income taxes
	Accretion on discounted liabilities
	Operating income (loss)
	Equity in earnings of affiliates
	Gain on dispositions
	Interest income
	Other, net
	Other income
	Interest and debt expense
	Foreign currency transaction gains (losses)
	Other expense
	Income (loss) from continuing operations before income taxes
	Income tax (provision) benefit
	Income (loss) from continuing operations
	Income from discontinued operations
	Net income (loss)
	Net income attributable to noncontrolling interests
	Net income (loss) attributable to ConocoPhillips

Based on: 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), 10-K (filing date: 2015-02-24).

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 2016 to 2017 and from 2017 to 2018.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	ConocoPhillips’s operating income (loss) increased from 2016 to 2017 and from 2017 to 2018.
Income (loss) from continuing operations 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) from continuing operations before income taxes increased from 2016 to 2017 and from 2017 to 2018.
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 2016 to 2017 and from 2017 to 2018.

	ConocoPhillips	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality