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Exxon Mobil Corp. (XOM)


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.

Exxon Mobil Corp., consolidated income statement

US$ in millions

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12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Sales and other operating revenue 279,332  237,162  218,608  259,488  394,105 
Crude oil and product purchases (156,172) (128,217) (104,171) (130,003) (225,972)
Production and manufacturing expenses (36,682) (34,128) (31,927) (35,587) (40,859)
Cost of operating revenues (192,854) (162,345) (136,098) (165,590) (266,831)
Sales-based taxes —  —  (21,090) (22,678) (29,342)
Gross profit 86,478  74,817  61,420  71,220  97,932 
Selling, general and administrative expenses (11,480) (10,956) (10,799) (11,501) (12,598)
Depreciation and depletion (18,745) (19,893) (22,308) (18,048) (17,297)
Exploration expenses, including dry holes (1,466) (1,790) (1,467) (1,523) (1,669)
Other taxes and duties (32,663) (30,104) (25,910) (27,265) (32,286)
Operating income 22,124  12,074  936  12,883  34,082 
Income from equity affiliates 7,355  5,380  4,806  7,644  13,323 
Other income 3,525  1,821  2,680  1,750  4,511 
Non-service pension and postretirement benefit expense (1,285) —  —  —  — 
Interest expense (766) (601) (453) (311) (286)
Income before income taxes 30,953  18,674  7,969  21,966  51,630 
Income taxes (9,532) 1,174  406  (5,415) (18,015)
Net income including noncontrolling interests 21,421  19,848  8,375  16,551  33,615 
Net income attributable to noncontrolling interests (581) (138) (535) (401) (1,095)
Net income attributable to ExxonMobil 20,840  19,710  7,840  16,150  32,520 

Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-22), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-25).

Income statement item Description The company
Sales and other operating revenue 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. Exxon Mobil Corp.’s sales and other operating revenue increased from 2016 to 2017 and from 2017 to 2018.
Operating income The net result for the period of deducting operating expenses from operating revenues. Exxon Mobil Corp.’s operating income increased from 2016 to 2017 and from 2017 to 2018.
Income 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. Exxon Mobil Corp.’s income before income taxes increased from 2016 to 2017 and from 2017 to 2018.
Net income attributable to ExxonMobil The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Exxon Mobil Corp.’s net income attributable to ExxonMobil increased from 2016 to 2017 and from 2017 to 2018.