Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Net Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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ConocoPhillips, consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The statement of comprehensive income exhibits significant fluctuations over the five-year period. Net income demonstrates considerable volatility, peaking in 2022 before declining in subsequent years. While remaining positive throughout the period, the trend suggests a return towards levels observed in 2021 and 2023. Other comprehensive income components contribute substantially to the overall comprehensive income, and their movements are often offsetting to net income changes.
- Net Income Trend
- Net income increased substantially from US$8,079 million in 2021 to US$18,680 million in 2022, representing a more than doubling of earnings. However, this was followed by a decrease to US$10,957 million in 2023 and a further decline to US$9,245 million in 2024. The most recent year, 2025, shows a slight decrease to US$7,988 million, nearing the 2021 level. This pattern indicates a cyclical performance, potentially influenced by commodity price fluctuations or operational factors.
- Defined Benefit Plans
- The impact of defined benefit plans on comprehensive income is variable. A positive impact of US$394 million was recorded in 2021, followed by a significant negative impact of US$417 million in 2022. The subsequent years show smaller, positive impacts, ranging from US$55 million to US$3 million, stabilizing around US$55 million in 2025. These fluctuations likely reflect changes in actuarial assumptions, plan amendments, or investment performance of plan assets.
- Unrealized Gains/Losses on Securities
- Unrealized gains and losses on securities generally have a minimal impact on comprehensive income, with values remaining relatively small. Losses were recorded in 2021 and 2022 (US$-2 million and US$-11 million respectively), followed by gains in 2023, 2024, and 2025 (US$13 million, US$1 million, and US$5 million respectively). The overall effect is limited, but the shift from losses to gains suggests a change in the performance of the security portfolio.
- Foreign Currency Translation Adjustments
- Foreign currency translation adjustments demonstrate the most substantial volatility among the comprehensive income components. A loss of US$124 million was recorded in 2021, which expanded to a significant loss of US$622 million in 2022. A substantial gain of US$197 million was then recorded in 2023, followed by a large loss of US$760 million in 2024, and a gain of US$502 million in 2025. These fluctuations likely reflect changes in exchange rates and the performance of international operations. The magnitude of these adjustments significantly impacts overall comprehensive income.
- Comprehensive Income
- Comprehensive income mirrors the trend observed in net income, peaking at US$17,630 million in 2022 and declining to US$8,550 million in 2025. The influence of other comprehensive income components is evident, particularly in 2022 and 2024, where substantial negative adjustments partially offset the positive net income. Despite the volatility, comprehensive income remains positive throughout the period, although the trend suggests a return to levels closer to those observed in the earlier years of the period.