TESORO CORPORATION

STATEMENTS OF CONSOLIDATED OPERATIONS

Years Ended December 31, (In millions except per share amounts)

Year	2013	2012	2011
REVENUES	$37,601	$29,809	$27,182
COSTS AND EXPENSES:	2013	2012	2011
Cost of sales	34,085	26,045	24,022
Production expenses	1,911	1,405	1,349
Selling, general and administrative expenses	337	297	227
Depreciation and amortization expense	489	418	391
Loss on asset disposals and impairments	24	23	66
-	755	1,621	1,127
Interest and financing costs, net	(151)	(167)	(179)
Interest income	2	2	2
Equity in earnings of equity method investments	11
Other income (expense), net	63	(26)	2
EARNINGS BEFORE INCOME TAXES	680	1,430	952
Income tax expense	246	527	359
NET EARNINGS FROM CONTINUING OPERATIONS	434	903	593
Earnings (loss) from discontinued operations, net of tax	20	(133)	(30)
NET EARNINGS	454	770	563
Weighted average common shares outstanding - Basic	135.0	139.4	141.4

For the year 2013:

1.2 What is operating income? $__________________

		$434
		$3,516
		$755
		$454