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.

Marathon Oil Corp., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Revenues from contracts with customers	5,601)	3,097)	5,063)	5,902)	4,211)
Marketing revenues	—)	—)	—)	—)	162)
Revenues	5,601)	3,097)	5,063)	5,902)	4,373)
Net gain (loss) on commodity derivatives	(383)	116)	(72)	(14)	—)
Income (loss) from equity method investments	253)	(161)	87)	225)	256)
Net gain (loss) on disposal of assets	(19)	9)	50)	319)	58)
Other income	15)	25)	62)	150)	78)
Revenues and other income	5,467)	3,086)	5,190)	6,582)	4,765)
Production	(534)	(555)	(712)	(842)	(706)
Marketing, including purchases from related parties	—)	—)	—)	—)	(168)
Shipping, handling and other operating	(727)	(596)	(605)	(575)	(431)
Exploration	(136)	(181)	(149)	(289)	(409)
Depreciation, depletion and amortization	(2,066)	(2,316)	(2,397)	(2,441)	(2,372)
Impairments	(60)	(144)	(24)	(75)	(229)
Taxes other than income	(345)	(200)	(311)	(299)	(183)
General and administrative	(291)	(274)	(356)	(394)	(400)
Costs and expenses	(4,159)	(4,266)	(4,554)	(4,915)	(4,898)
Income (loss) from operations	1,308)	(1,180)	636)	1,667)	(133)
Interest income	1)	5)	25)	32)	34)
Interest expense	(257)	(279)	(280)	(280)	(377)
Gain on interest rate swaps	54)	12)	—)	—)	53)
Interest	(202)	(262)	(255)	(248)	(290)
Net foreign currency gain	—)	—)	4)	9)	8)
Other	14)	6)	7)	13)	12)
Other	14)	6)	11)	22)	20)
Net interest and other	(188)	(256)	(244)	(226)	(270)
Other net periodic benefit (costs) credits	5)	(1)	3)	(14)	—)
Loss on early extinguishment of debt	(121)	(28)	(3)	—)	(51)
Income (loss) before income taxes	1,004)	(1,465)	392)	1,427)	(454)
(Provision) benefit for income taxes	(58)	14)	88)	(331)	(376)
Income (loss) from continuing operations	946)	(1,451)	480)	1,096)	(830)
Loss from discontinued operations	—)	—)	—)	—)	(4,893)
Net income (loss)	946)	(1,451)	480)	1,096)	(5,723)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Income statement item	Description	The company
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.	Marathon Oil Corp. revenues decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Income (loss) from operations	The net result for the period of deducting operating expenses from operating revenues.	Marathon Oil Corp. income (loss) from operations decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 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.	Marathon Oil Corp. income (loss) before income taxes decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Net income (loss)	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Marathon Oil Corp. net income (loss) decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

Marathon Oil Corp. (NYSE:MRO)

Income Statement