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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.

Exxon Mobil Corp., Consolidated Income Statement

USD $ in millions

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12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Sales and other operating revenue 237,162  218,608  259,488  394,105  420,836 
Crude oil and product purchases (128,217) (104,171) (130,003) (225,972) (244,156)
Production and manufacturing expenses (34,128) (31,927) (35,587) (40,859) (40,525)
Cost of operating revenues (162,345) (136,098) (165,590) (266,831) (284,681)
Sales-based taxes –  (21,090) (22,678) (29,342) (30,589)
Gross profit 74,817  61,420  71,220  97,932  105,566 
Selling, general and administrative expenses (10,956) (10,799) (11,501) (12,598) (12,877)
Depreciation and depletion (19,893) (22,308) (18,048) (17,297) (17,182)
Exploration expenses, including dry holes (1,790) (1,467) (1,523) (1,669) (1,976)
Other taxes and duties (30,104) (25,910) (27,265) (32,286) (33,230)
Operating income 12,074  936  12,883  34,082  40,301 
Income from equity affiliates 5,380  4,806  7,644  13,323  13,927 
Other income 1,821  2,680  1,750  4,511  3,492 
Interest expense (601) (453) (311) (286) (9)
Income before income taxes 18,674  7,969  21,966  51,630  57,711 
Income taxes 1,174  406  (5,415) (18,015) (24,263)
Net income including noncontrolling interests 19,848  8,375  16,551  33,615  33,448 
Net income attributable to noncontrolling interests (138) (535) (401) (1,095) (868)
Net income attributable to ExxonMobil 19,710  7,840  16,150  32,520  32,580 

Based on: 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), 10-K (filing date: 2014-02-26).

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 declined from 2015 to 2016 but then slightly increased from 2016 to 2017.
Operating income The net result for the period of deducting operating expenses from operating revenues. Exxon Mobil Corp.'s operating income declined from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.
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 declined from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.
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 declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.