Income Statement
Quarterly Data

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 (quarterly data)

US$ in millions

3 months ended:	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	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
Revenues from contracts with customers	2,168)	1,761)	1,732)	1,438)	1,254)	1,177)	822)	761)	490)	1,024)	1,233)	1,249)	1,381)	1,200)	1,380)	1,538)	1,447)	1,537)	1,185)	1,114)	958)	954)
Marketing revenues	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	45)	48)	35)	34)
Revenues	2,168)	1,761)	1,732)	1,438)	1,254)	1,177)	822)	761)	490)	1,024)	1,233)	1,249)	1,381)	1,200)	1,380)	1,538)	1,447)	1,537)	1,230)	1,162)	993)	988)
Net gain (loss) on commodity derivatives	(27)	(143)	15)	(79)	(166)	(153)	(15)	(1)	(70)	202)	(44)	47)	16)	(91)	310)	(70)	(152)	(102)	—)	—)	—)	—)
Income (loss) from equity method investments	152)	127)	74)	86)	49)	44)	13)	(10)	(152)	(12)	24)	21)	31)	11)	64)	64)	60)	37)	73)	63)	51)	69)
Net gain (loss) on disposal of assets	(1)	—)	(27)	7)	1)	—)	1)	1)	(2)	9)	(6)	22)	(8)	42)	(4)	16)	50)	257)	32)	19)	6)	1)
Other income	11)	8)	6)	1)	5)	3)	9)	3)	6)	7)	8)	6)	13)	35)	15)	119)	12)	4)	47)	8)	9)	14)
Revenues and other income	2,303)	1,753)	1,800)	1,453)	1,143)	1,071)	830)	754)	272)	1,230)	1,215)	1,345)	1,433)	1,197)	1,765)	1,667)	1,417)	1,733)	1,382)	1,252)	1,059)	1,072)
Production	(164)	(152)	(156)	(131)	(126)	(121)	(137)	(129)	(129)	(160)	(169)	(163)	(193)	(187)	(205)	(215)	(205)	(217)	(185)	(194)	(176)	(151)
Marketing, including purchases from related parties	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(47)	(49)	(38)	(34)
Shipping, handling and other operating	(191)	(185)	(189)	(219)	(167)	(152)	(164)	(183)	(105)	(144)	(143)	(138)	(170)	(154)	(167)	(152)	(126)	(130)	(122)	(109)	(111)	(89)
Exploration	(8)	(11)	(27)	(63)	(25)	(21)	(100)	(27)	(26)	(28)	(42)	(22)	(26)	(59)	(116)	(56)	(65)	(52)	(57)	(294)	(30)	(28)
Depreciation, depletion and amortization	(436)	(423)	(516)	(522)	(532)	(496)	(521)	(554)	(597)	(644)	(616)	(622)	(605)	(554)	(613)	(626)	(612)	(590)	(583)	(641)	(592)	(556)
Impairments	(2)	—)	—)	(13)	(46)	(1)	(46)	(1)	—)	(97)	—)	—)	(18)	(6)	(25)	(8)	(34)	(8)	(24)	(201)	—)	(4)
Taxes other than income	(140)	(104)	(109)	(88)	(74)	(74)	(55)	(49)	(30)	(66)	(79)	(81)	(79)	(72)	(84)	(86)	(65)	(64)	(55)	(44)	(45)	(39)
General and administrative	(68)	(73)	(64)	(70)	(68)	(89)	(57)	(53)	(88)	(76)	(93)	(82)	(87)	(94)	(88)	(101)	(105)	(100)	(101)	(97)	(93)	(109)
Costs and expenses	(1,009)	(948)	(1,061)	(1,106)	(1,038)	(954)	(1,080)	(996)	(975)	(1,215)	(1,142)	(1,108)	(1,178)	(1,126)	(1,298)	(1,244)	(1,212)	(1,161)	(1,174)	(1,629)	(1,085)	(1,010)
Income (loss) from operations	1,294)	805)	739)	347)	105)	117)	(250)	(242)	(703)	15)	73)	237)	255)	71)	467)	423)	205)	572)	208)	(377)	(26)	62)
Net interest and other	(54)	(22)	(59)	(57)	(59)	(13)	(61)	(62)	(69)	(64)	(67)	(64)	(64)	(49)	(58)	(58)	(65)	(45)	(71)	(35)	(86)	(78)
Other net periodic benefit (costs) credits	5)	4)	3)	—)	(1)	3)	(2)	(6)	7)	—)	(6)	2)	2)	5)	(3)	(8)	—)	(3)	—)	—)	—)	—)
Loss on early extinguishment of debt	—)	—)	—)	(102)	(19)	—)	(28)	—)	—)	—)	(3)	—)	—)	—)	—)	—)	—)	—)	(5)	(46)	—)	—)
Income (loss) before income taxes	1,245)	787)	683)	188)	26)	107)	(341)	(310)	(765)	(49)	(3)	175)	193)	27)	406)	357)	140)	524)	132)	(458)	(112)	(16)
(Provision) benefit for income taxes	(279)	517)	(34)	(4)	(10)	(10)	3)	(7)	15)	3)	(17)	(10)	(32)	147)	(16)	(103)	(44)	(168)	(160)	(141)	(41)	(34)
Income (loss) from continuing operations	966)	1,304)	649)	184)	16)	97)	(338)	(317)	(750)	(46)	(20)	165)	161)	174)	390)	254)	96)	356)	(28)	(599)	(153)	(50)
Income (loss) from discontinued operations	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	14)	(4,907)
Net income (loss)	966)	1,304)	649)	184)	16)	97)	(338)	(317)	(750)	(46)	(20)	165)	161)	174)	390)	254)	96)	356)	(28)	(599)	(139)	(4,957)

Revenues and other income: Revenues demonstrated a generally increasing trend from March 31, 2017, through June 30, 2022, starting at approximately $988 million and growing to $2,168 million. There was a notable dip in mid-2020, where revenues dropped substantially, reflecting wider economic challenges during that period. Marketing revenues were only reported for early 2017 and showed modest amounts, with no follow-up data. Other income remained relatively stable over the periods examined, except for a significant spike in mid-2017.
Net gain (loss) on commodity derivatives: The net gains or losses on commodity derivatives fluctuated significantly with periods of both gains and losses. There were losses early on in 2018, followed by gains toward late 2018. Negative values reappeared in 2020 and early 2022, indicating some volatility and unfavorable positions in commodity derivatives during those times.
Income from equity method investments: Income from equity method investments showed variability but generally trended upwards from significant losses in 2020 to higher positive figures by mid-2022, suggesting improved performance or valuations of equity investments over the latter periods.
Costs and expenses: Total costs and expenses generally remained elevated throughout the periods, with a peak in late 2017, corresponding to a sharp increase in exploration costs in the same timeframe. There was a notable reduction in expenses during 2020 coinciding with the decline in revenues, likely due to cost management efforts. However, expenses increased again post-2020, aligning with recovering revenues.
Production and related expenses: Production costs were consistently negative, indicating ongoing expenses, but these generally decreased in magnitude during 2020, reflecting a slowdown in operations. Shipping, handling, and other operating costs followed a similar pattern with fluctuations mainly driven by operational factors and market conditions. Exploration costs were highly variable, with an exceptionally high charge recorded in Q3 2017, and significant fluctuations through 2020 and subsequent quarters.
Depreciation, depletion, and amortization: Depreciation, depletion, and amortization expenses were consistently high but slowly declined over time from approximately $556 million in early 2017 to around $423 million by mid-2022, suggesting either asset base changes or adjustments in asset valuation/amortization schedules.
Impairments: Impairments were sporadic and concentrated in certain quarters, notably in late 2017 and early to mid-2020, highlighting occasional write-downs of assets, reflecting perhaps changes in asset valuations or market conditions impacting asset worth.
Income from operations and net income: Income from operations was highly volatile, ranging from negative values in certain quarters, including a significant loss in mid-2020, to strong positive results by late 2021 and mid-2022. Similarly, net income showed considerable oscillation, with large losses early on, a sharp reduction during the mid-2020 period, and strong recovery thereafter, achieving its highest levels by mid-2022.
Taxes and interest expenses: Other taxes besides income remained relatively consistent, though a slight upward trend was observed in later periods. Net interest and other related charges remained fairly stable across quarters, indicating steady financing costs.
Other operational aspects: Losses on early extinguishment of debt appeared sporadically and were significant in certain periods such as late 2017 and 2020, which may reflect strategic financing decisions. General and administrative expenses fluctuated but generally showed a decrease during 2020 with some increase thereafter, indicating cost control measures during challenging periods.

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Marathon Oil Corp. (NYSE:MRO)

Income Statement Quarterly Data

Income Statement
Quarterly Data