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.
Occidental Petroleum Corp., consolidated income statement
US$ in millions
|Income statement item||Description||The company|
|Net sales||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.||Occidental Petroleum Corp.’s net sales increased from 2016 to 2017 and from 2017 to 2018.|
|Operating income (loss)||The net result for the period of deducting operating expenses from operating revenues.||Occidental Petroleum Corp.’s operating income (loss) increased from 2016 to 2017 and from 2017 to 2018.|
|Income (loss) before income taxes and other items||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.||Occidental Petroleum Corp.’s income (loss) before income taxes and other items increased from 2016 to 2017 and from 2017 to 2018.|
|Net income (loss) attributable to common stock||The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.||Occidental Petroleum Corp.’s net income (loss) attributable to common stock increased from 2016 to 2017 and from 2017 to 2018.|