Stock Analysis on Net

ConocoPhillips (NYSE:COP)

Income Statement

The income statement presents information on the financial results of a company 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

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Sales and other operating revenues 56,141 78,494 45,828 18,784 32,567
Equity in earnings of affiliates 1,720 2,081 832 432 779
Gain on dispositions 228 1,077 486 549 1,966
Interest income 412 195 33 100 166
Gain (loss) on investment in Cenovus Energy 251 1,040 (855) 649
Other, net 73 58 130 246 543
Other income (loss) 485 504 1,203 (509) 1,358
Revenues and other income 58,574 82,156 48,349 19,256 36,670
Purchased commodities (21,975) (33,971) (18,158) (8,078) (11,842)
Production and operating expenses (7,693) (7,006) (5,694) (4,344) (5,322)
Selling, general and administrative expenses (705) (623) (719) (430) (556)
Exploration expenses (398) (564) (344) (1,457) (743)
Depreciation, depletion and amortization (8,270) (7,504) (7,208) (5,521) (6,090)
Impairments (14) 12 (674) (813) (405)
Taxes other than income taxes (2,074) (3,364) (1,634) (754) (953)
Accretion on discounted liabilities (283) (250) (242) (252) (326)
Operating income (loss) 17,162 28,886 13,676 (2,393) 10,433
Interest and debt expense (780) (805) (884) (806) (778)
Foreign currency transaction gain (loss) (92) 100 22 72 (66)
Other expenses (2) 47 (102) (13) (65)
Income (loss) before income taxes 16,288 28,228 12,712 (3,140) 9,524
Income tax (provision) benefit (5,331) (9,548) (4,633) 485 (2,267)
Net income (loss) 10,957 18,680 8,079 (2,655) 7,257
Net income attributable to noncontrolling interests (46) (68)
Net income (loss) attributable to ConocoPhillips 10,957 18,680 8,079 (2,701) 7,189

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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 sales and other operating revenues increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. ConocoPhillips operating income (loss) increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
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 income (loss) before income taxes increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
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 net income (loss) attributable to ConocoPhillips increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.