Exxon Mobil Corp. (XOM)


Income Statement
Quarterly Data

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 (quarterly data)

USD $ in millions

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3 months ended Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Sales and other operating revenue 67,491  61,646  68,253  74,187  71,456  65,436  66,901  58,551  55,236  56,474  58,376  56,767  56,360  47,105  57,691  65,679  71,360  64,758  83,868  103,206  105,719  101,312 
Crude oil and product purchases (38,942) (34,801) (36,781) (41,776) (41,327) (36,288) (36,232) (31,432) (30,194) (30,359) (28,299) (28,035) (27,130) (20,707) (27,717) (32,276) (37,312) (32,698) (45,828) (60,068) (62,210) (57,866)
Production and manufacturing expenses (9,522) (8,970) (10,176) (9,097) (8,918) (8,491) (9,542) (8,334) (8,407) (7,845) (8,581) (7,709) (8,076) (7,561) (9,008) (8,614) (9,235) (8,730) (10,342) (9,951) (10,478) (10,088)
Cost of operating revenues (48,464) (43,771) (46,957) (50,873) (50,245) (44,779) (45,774) (39,766) (38,601) (38,204) (36,880) (35,744) (35,206) (28,268) (36,725) (40,890) (46,547) (41,428) (56,170) (70,019) (72,688) (67,954)
Sales-based taxes —  —  —  —  —  —  —  —  —  —  (5,403) (5,437) (5,435) (4,815) (5,370) (5,813) (5,965) (5,530) (6,536) (7,519) (7,871) (7,416)
Gross profit 19,027  17,875  21,296  23,314  21,211  20,657  21,127  18,785  16,635  18,270  16,093  15,586  15,719  14,022  15,596  18,976  18,848  17,800  21,162  25,668  25,160  25,942 
Selling, general and administrative expenses (2,827) (2,770) (2,848) (2,892) (2,993) (2,747) (3,004) (2,725) (2,628) (2,599) (2,824) (2,736) (2,646) (2,593) (2,990) (2,967) (2,831) (2,713) (3,128) (3,169) (3,169) (3,132)
Depreciation and depletion (4,631) (4,571) (5,028) (4,658) (4,589) (4,470) (5,842) (4,880) (4,652) (4,519) (8,117) (4,605) (4,821) (4,765) (4,755) (4,542) (4,451) (4,300) (4,458) (4,362) (4,285) (4,192)
Exploration expenses, including dry holes (333) (280) (555) (292) (332) (287) (703) (284) (514) (289) (340) (327) (445) (355) (518) (324) (370) (311) (537) (319) (496) (317)
Other taxes and duties (7,675) (7,405) (7,838) (8,303) (8,375) (8,147) (9,578) (6,952) (6,578) (6,996) (6,640) (6,496) (6,670) (6,104) (6,761) (6,981) (6,910) (6,613) (7,537) (8,244) (8,484) (8,021)
Operating income 3,561  2,849  5,027  7,169  4,922  5,006  2,000  3,944  2,263  3,867  (1,828) 1,422  1,137  205  572  4,162  4,286  3,863  5,502  9,574  8,726  10,280 
Income from equity affiliates 1,359  1,709  1,756  1,960  1,729  1,910  673  1,472  1,525  1,710  1,328  1,103  1,124  1,251  1,519  1,783  2,081  2,261  2,692  3,211  3,312  4,108 
Other income 241  270  1,886  458  316  865  530  278  526  487  1,312  807  210  351  597  (118) 672  599  716  713  2,177  905 
Non-service pension and postretirement benefit expense (313) (358) (333) (307) (308) (337) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Interest expense (216) (181) (215) (200) (147) (204) (186) (111) (158) (146) (195) (106) (75) (77) (60) (78) (85) (88) (68) (88) (64) (66)
Income before income taxes 4,632  4,289  8,121  9,080  6,512  7,240  3,017  5,583  4,156  5,918  617  3,226  2,396  1,730  2,628  5,749  6,954  6,635  8,842  13,410  14,151  15,227 
Income taxes (1,241) (1,883) (1,915) (2,634) (2,526) (2,457) 5,392  (1,498) (892) (1,828) 1,407  (337) (715) 51  202  (1,365) (2,692) (1,560) (2,060) (5,064) (5,034) (5,857)
Net income including noncontrolling interests 3,391  2,406  6,206  6,446  3,986  4,783  8,409  4,085  3,264  4,090  2,024  2,889  1,681  1,781  2,830  4,384  4,262  5,075  6,782  8,346  9,117  9,370 
Net (income) loss attributable to noncontrolling interests (261) (56) (206) (206) (36) (133) (29) (115) 86  (80) (344) (239) 19  29  (50) (144) (72) (135) (212) (276) (337) (270)
Net income attributable to ExxonMobil 3,130  2,350  6,000  6,240  3,950  4,650  8,380  3,970  3,350  4,010  1,680  2,650  1,700  1,810  2,780  4,240  4,190  4,940  6,570  8,070  8,780  9,100 

Based on: 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-01), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-04), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-04), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-05-06), 10-K (filing date: 2015-02-25), 10-Q (filing date: 2014-11-05), 10-Q (filing date: 2014-08-06), 10-Q (filing date: 2014-05-07).

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 Q4 2018 to Q1 2019 but then increased from Q1 2019 to Q2 2019 not reaching Q4 2018 level.
Operating income The net result for the period of deducting operating expenses from operating revenues. Exxon Mobil Corp.’s operating income declined from Q4 2018 to Q1 2019 but then slightly increased from Q1 2019 to Q2 2019.
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 Q4 2018 to Q1 2019 but then slightly increased from Q1 2019 to Q2 2019.
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 Q4 2018 to Q1 2019 but then slightly increased from Q1 2019 to Q2 2019.