Explain the income statement. Aucby PDFSgataresmcome StaremeCHEVRON CORPORATION-FINANCIAL REVIEWAttachment 1(Millions of Dollars, Except Per-Share Amounts)(unandited)CONSOLIDATED STATEMENT OF INCOMEThree MonthsEnded September 302020Nine MonthsEnded September 302019$ 23,997 $ 34,779 $ 69,628 $ 105,291REVENUES AND OTHER INCOME20192020Sales and other operating revenuesIncome from equity affiliatesOther income510(56)24,4511,172165(1,040)8583,4301,445110,166Total Revenues and Other IncomeCOSTS AND OTHER DEDUCTIONSPurchased crude oil and productsOperating expensesExploration expensesDepreciation, depletion and amortizationTaxes other than on incomeInterest and debt expense36,11669,44613,4485,65811719,8826,4001684,3611,05919737,10118,9281,17015,0223,22349860,420N8,7314984,0171,09116412,7893,16762096,22513,9414,429Total Costs and Other DeductionsIncome (Loss) Before Income Tax ExpenseIncome tax expense (benefit)Net Income (Loss)Less: Net income (loss) attributable tononcontrolling interestsNET INCOME (LOSS) ATTRIBUTABLE TOCHEVRON CÒRPORATION24,495(44)16532,0674,0491,4692,58075,942(6,496)(1,591)(4,905)(209)9,512(2)(27)(22)(207) S(4,878) $* Iachudes operating expense, selling, ganeral and administrativo axpansa, and othar componants of not pariodic banafit costs2,580 $9,534PER-SHARE OF COMMON STOCKNet Income (Loss) Attributable to Chevron CorporationBasic(0.12) $(0.12) S1.38 S1.36 $(2.63) $(2.63) $5.065.02DilutedWeighted Average Number of Shares Outstanding (000's)BasicDiluted1,853,533 1,880,607 1,856,363 1,885,9311,853,533 1,893,928 1,856,363 1,899,193age 7 of 71826 wordsFocus109%

Answered: Explain the income statement

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 23E

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Question

Explain the income statement.

Aucby PDF
Sgatares
mcome Stareme
CHEVRON CORPORATION-FINANCIAL REVIEW
Attachment 1
(Millions of Dollars, Except Per-Share Amounts)
(unandited)
CONSOLIDATED STATEMENT OF INCOME
Three Months
Ended September 30
2020
Nine Months
Ended September 30
2019
$ 23,997 $ 34,779 $ 69,628 $ 105,291
REVENUES AND OTHER INCOME
2019
2020
Sales and other operating revenues
Income from equity affiliates
Other income
510
(56)
24,451
1,172
165
(1,040)
858
3,430
1,445
110,166
Total Revenues and Other Income
COSTS AND OTHER DEDUCTIONS
Purchased crude oil and products
Operating expenses
Exploration expenses
Depreciation, depletion and amortization
Taxes other than on income
Interest and debt expense
36,116
69,446
13,448
5,658
117
19,882
6,400
168
4,361
1,059
197
37,101
18,928
1,170
15,022
3,223
498
60,420
N8,731
498
4,017
1,091
164
12,789
3,167
620
96,225
13,941
4,429
Total Costs and Other Deductions
Income (Loss) Before Income Tax Expense
Income tax expense (benefit)
Net Income (Loss)
Less: Net income (loss) attributable to
noncontrolling interests
NET INCOME (LOSS) ATTRIBUTABLE TO
CHEVRON CÒRPORATION
24,495
(44)
165
32,067
4,049
1,469
2,580
75,942
(6,496)
(1,591)
(4,905)
(209)
9,512
(2)
(27)
(22)
(207) S
(4,878) $
* Iachudes operating expense, selling, ganeral and administrativo axpansa, and othar componants of not pariodic banafit costs
2,580 $
9,534
PER-SHARE OF COMMON STOCK
Net Income (Loss) Attributable to Chevron Corporation
Basic
(0.12) $
(0.12) S
1.38 S
1.36 $
(2.63) $
(2.63) $
5.06
5.02
Diluted
Weighted Average Number of Shares Outstanding (000's)
Basic
Diluted
1,853,533 1,880,607 1,856,363 1,885,931
1,853,533 1,893,928 1,856,363 1,899,193
age 7 of 7
1826 words
Focus
109%

Expert Solution

Review of 3 Months(ending september 30):

The given Income Statement is a Consolidated Income Statement of Chevron Corporation giving information about the year 2019 and 2020. It has incurred a loss attributable of $209 million in its last 3 months ending 30 Sept 2020. The profit as compared to last year(2019) same quarter has gone down by $2,787 million. The reason which can be seen as per the income statement is the reduction of revenue from sales and other operating activities as there is no big difference is expense cost in both years. Earning per share has reduced from $1.38 to loss of $0.12 per share.

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