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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.
ConocoPhillips, 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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| Cost of operating revenues | |
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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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| Impairments | |
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| Taxes other than income taxes | |
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| Accretion on discounted liabilities | |
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| Operating income (loss) | |
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| Equity in earnings of affiliates | |
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| Gain on dispositions | |
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| Interest income | |
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| Other, net | |
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| Other income | |
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| Interest and debt expense | |
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| Foreign currency transaction gains (losses) | |
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| Other expense | |
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| Income (loss) from continuing operations before income taxes | |
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| Income tax (provision) benefit | |
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| Income (loss) from continuing operations | |
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| Income from discontinued operations | |
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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 ConocoPhillips | |
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Based on: 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), 10-K (filing date: 2014-02-25).
| Item | Description | The company |
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| 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 declined from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level. |
| Operating income (loss) | The net result for the period of deducting operating expenses from operating revenues. | ConocoPhillips's operating income (loss) increased from 2015 to 2016 and from 2016 to 2017. |
| 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 2015 to 2016 and from 2016 to 2017. |
| 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 2015 to 2016 and from 2016 to 2017. |
