Repsol, S.A. and investees comprising the Repsol Group
Consolidated income statement for December 31, 2016 and 2015

Consolidated Income Statement
€ Millions    

Note
2.1
2015 2016
Sales -
39,582 34,556
Services rendered and other income -
155 133
Changes in inventories of finished goods and work in progress inventories -
(524) 129
Income from reversals of impairment losses and gains on disposal of non-current assets -
661 1,625
Other operating income -
1,867 990
OPERATING REVENUE 21 41,741 37,433
       
Supplies -
(28,833) (23,615)
Personnel expenses -
(2,129) (2,501)
Other operating expenses -
(6,455) (5,930)
Depreciation and amortization of non-current assets -
(3,124) (2,529)
Impairment losses recognized and losses on disposal of non-current assets -
(3,924) (947)
OPERATING EXPENSES 21 (44,465) (35,522)
       
OPERATING INCOME - (2,724) 1,911
       
Finance income -
150 176
Finance expenses -
(707) (741)
Changes in the fair value of finantial instruments -
1,052 189
Net exchange gains (losses) -
(204) 94
Impairment and gains (losses) on disposal of financial instruments -
170 48
FINANCIAL RESULT 23 461 (234)
Share of results of companies accounted for using the equity method after taxes 8 (89) 194
NET INCOME BEFORE TAX -
(2,352) 1,871
Income tax 20 996 (391)
Net income from continuing operations -
(1,356) 1,480
Net income attributable to minority interests from continuing operations -
(42) (43)
NET INCOME ATTRIBUTABLE TO THE PARENT FROM CONTINUING OPERATIONS -
(1,398) 1,437
       
NET INCOME ATTRIBUTABLE TO THE PARENT FROM DISCONTINUED OPERATIONS 14 - 299
TOTAL NET INCOME ATTRIBUTABLE TO THE PARENT -
(1,398) 1,736
       
EARNINGS PER SHARE ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT Note 2.1 Euros per share Euros per share
Basic 24 (0.95) 1.16
Diluted 24 (0.95) 1.16

Notes 1 to 33 are an integral part of the consolidated income statement.