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Microsoft Excel LibreOffice Calc


Income Statement

Difficulty: Beginner

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

USD $ in millions

Microsoft Excel LibreOffice Calc
Source: Phillips 66, Annual Reports
Item Description The company
Sales and other operating revenues Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Phillips 66's sales and other operating revenues declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.
Operating income The net result for the period of deducting operating expenses from operating revenues. Phillips 66's operating income declined from 2015 to 2016 but then slightly increased from 2016 to 2017.
Income from continuing operations before income taxes Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Phillips 66's income from continuing operations before income taxes declined from 2015 to 2016 but then slightly increased from 2016 to 2017.
Income from continuing operations This represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Phillips 66's income from continuing operations declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.
Net income The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Phillips 66's net income declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.
Net income attributable to Phillips 66 The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Phillips 66's net income attributable to Phillips 66 declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.