CONSOLIDATED STATEMENT OF INCOME
Note
Reference
Number 2007 2006 2005
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(millions of dollars)
Revenues and other income
Sales and other operating revenue (1) (2) $ 390,328 $ 365,467 $ 358,955
Income from equity affiliates 6 8,901 6,985 7,583
Other income 5,323 5,183 4,142
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Total revenues and other income $ 404,552 $ 377,635 $ 370,680
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Costs and other deductions
Crude oil and product purchases $ 199,498 $ 182,546 $ 185,219
Production and manufacturing expenses 31,885 29,528 26,819
Selling, general and administrative expenses 14,890 14,273 14,402
Depreciation and depletion 12,250 11,416 10,253
Exploration expenses, including dry holes 1,469 1,181 964
Interest expense 400 654 496
Sales-based taxes (1) 18 31,728 30,381 30,742
Other taxes and duties 18 40,953 39,203 41,554
Income applicable to minority and preferred
interests 1,005 1,051 799
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Total costs and other deductions $ 334,078 $ 310,233 $ 311,248
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Income before income taxes $ 70,474 $ 67,402 $ 59,432
Income taxes 18 29,864 27,902 23,302
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Net income $ 40,610 $ 39,500 $ 36,130
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Net income per common share (dollars) 11 $ 7.36 $ 6.68 $ 5.76
Net income per common share - assuming
dilution (dollars) 11 $ 7.28 $ 6.62 $ 5.71
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