Stock Analysis on Net
Stock Analysis on Net
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Phillips 66 (NYSE:PSX)

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Income Statement

Beginner level

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.

Phillips 66, consolidated income statement

US$ in millions

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12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Sales and other operating revenues
Purchased crude oil and products
Operating expenses
Cost of operating revenues
Excise taxes on sales of petroleum products
Gross profit
Selling, general and administrative expenses
Depreciation and amortization
Impairments
Taxes other than income taxes
Accretion on discounted liabilities
Operating income
Equity in earnings of affiliates
Net gain on dispositions
Interest income
Gain on consolidation of business
Other, net
Other income
Interest and debt expense
Foreign currency transaction gains (losses)
Income before income taxes
Income tax (expense) benefit
Net income
Net income attributable to noncontrolling interests
Net income attributable to Phillips 66

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19).

Income statement item Description The company
Sales and other operating 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. Phillips 66’s sales and other operating revenues increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
Operating income The net result for the period of deducting operating expenses from operating revenues. Phillips 66’s operating income increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
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. Phillips 66’s income before income taxes increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
Net income attributable to Phillips 66 The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Phillips 66’s net income attributable to Phillips 66 increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.