Page 40 - CPC 2018 Annual Report

38 CPC Corporation, Taiwan 2018
FINANCIAL STATEMENTS
The Exploration and Exploitation division’s loss before tax in 2017 was mainly caused by the impairment loss recognized on the following sites: Prelude and Ichthys in Australia. Sales volume of the LNG business division increased compared to the same period of last year so that the profit increased. That the profit before tax in refining and marketing activities increased compared to the same period of last year was mainly driven by the stabilizing of international oil price, along with the refinery operation’s significant improvement on production capacity and efficiency, resulting in higher profit margin and profit before tax.
The capital expenditure incurred in 2017 was NT$20,964 million, a 4.75% increase from 2016. The breakdown of the expenditure was as follows:
Marketing & transportation Production & manufacturing
STATEMENTS OF INCOME
14.97%
58.94%
The exchange rate between the NT dollar and the US dollar was 29.703:1 on December 31, 2017.
(In Thousands of New Taiwan Dollars)
Others 26.09%
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016
Operating Revenues
Sales
Other operating revenues
Total operating revenues
Operating Costs and Expenses
Cost of goods sold
Exploration expenses
Oil and gas transmission and storage expenses Other operating costs
Total operating costs
Gross Profit(Loss)
Operating Expenses
Non-Operating Income and Gains Non-Operating Expenses and Losses INCOME (LOSS) BEFORE INCOME TAX Income Tax Expense((Benefit)(
NET INCOME (LOSS) FOR THE YEAR
2017
$886,989,480
9,652,641 896,642,121
2016
$753,300,166
11,329,827 764,629,993
794,402,697 2,195,701 13,418,883 16,404,888 826,422,169
70,219,952
677,810,502 2,267,889 11,813,286 13,009,038 704,900,715
59,729,278
19,508,901
20,302,019
5,952,712
48,542,061
4,145,599
8,121,702
8,142,151
35,430,707
8,230,498
6,054,234
$40,311,563
$29,376,473