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.

ONEOK Inc., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Commodity sales	20,975,462)	15,180,264)	7,255,259)	8,916,047)	11,395,642)
Services	1,411,430)	1,360,045)	1,286,983)	1,248,320)	1,197,554)
Revenues	22,386,892)	16,540,309)	8,542,242)	10,164,367)	12,593,196)
Cost of sales and fuel	(17,909,866)	(12,256,655)	(5,110,146)	(6,788,040)	(9,422,708)
Net margin	4,477,026)	4,283,654)	3,432,096)	3,376,327)	3,170,488)
Operations and maintenance	(958,246)	(900,420)	(761,176)	(863,708)	(803,146)
Depreciation and amortization	(626,132)	(621,701)	(578,662)	(476,535)	(428,557)
Impairment charges	—)	—)	(607,200)	—)	—)
General taxes	(191,458)	(166,668)	(125,028)	(119,156)	(103,922)
Other operating income (expense), net	106,229)	1,394)	1,327)	(2,575)	601)
Operating income	2,807,419)	2,596,259)	1,361,357)	1,914,353)	1,835,464)
Equity in net earnings from investments	147,720)	122,520)	143,241)	154,541)	158,383)
Impairment of equity investments	—)	—)	(37,730)	—)	—)
Allowance for equity funds used during construction	2,551)	1,682)	23,662)	64,815)	7,962)
Other income (expense), net	(32,099)	(3,333)	24,672)	9,055)	(14,254)
Interest expense, net of capitalized interest	(675,946)	(732,924)	(712,886)	(491,773)	(469,620)
Income before income taxes	2,249,645)	1,984,204)	802,316)	1,650,991)	1,517,935)
Income taxes	(527,424)	(484,498)	(189,507)	(372,414)	(362,903)
Net income	1,722,221)	1,499,706)	612,809)	1,278,577)	1,155,032)
Net income attributable to noncontrolling interests	—)	—)	—)	—)	(3,329)
Net income attributable to ONEOK	1,722,221)	1,499,706)	612,809)	1,278,577)	1,151,703)
Preferred stock dividends	(1,100)	(1,100)	(1,100)	(1,100)	(1,100)
Net income available to common shareholders	1,721,121)	1,498,606)	611,709)	1,277,477)	1,150,603)

Based on: 10-K (reporting date: 2022-12-31), 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).

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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.	ONEOK Inc. revenues increased from 2020 to 2021 and from 2021 to 2022.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	ONEOK Inc. operating income increased from 2020 to 2021 and from 2021 to 2022.
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.	ONEOK Inc. income before income taxes increased from 2020 to 2021 and from 2021 to 2022.
Net income attributable to ONEOK	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	ONEOK Inc. net income attributable to ONEOK increased from 2020 to 2021 and from 2021 to 2022.

ONEOK Inc. (NYSE:OKE)

Income Statement