Dispositions (Tables)

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

Assets held for sale in the December 31, 2013 consolidated balance sheet were related to the Angola Block 31 disposition that was pending at that date and included:

(In millions)	December 31, 2013
Other current assets	$	41
Other noncurrent assets	1,647
Total assets	$	1,688
Other current liabilities	$	25
Deferred credits and other liabilities	43
Total liabilities	$	68

Our Norway business is reflected as discontinued operations in the consolidated statements of income and the consolidated statements of cash flows for all periods presented. Select amounts reported in discontinued operations were as follows:

	Year Ended December 31,
(In millions)	2014		2013		2012
Revenues applicable to discontinued operations	$	1,981	$	3,176	$	3,726
Pretax income from discontinued operations	$	1,693	$	2,537	$	3,026
Pretax gain on disposition of discontinued operations	$	1,406	$	—	$	—

In the first quarter of 2014, we closed the sales of our 10 percent non-operated working interests in the Production Sharing Contracts and Joint Operating Agreements for Angola Blocks 31 and 32 for aggregate proceeds of approximately $2 billion. A $532 million after-tax gain on the sale of our Angola assets was recorded in 2014. Included in this after-tax gain is a deferred tax benefit reflecting our ability to utilize foreign tax credits that otherwise would have needed a valuation allowance.

Our Angola operations are reflected as discontinued operations in the consolidated statements of income and the consolidated statements of cash flows for all periods presented. Select amounts reported in discontinued operations were as follows:

	Year Ended December 31,
(In millions)	2014		2013		2012
Revenues applicable to discontinued operations	$	58	$	361	$	—
Pretax income (loss) from discontinued operations	$	51	$	247	$	(17	)
Pretax gain on disposition of discontinued operations	$	426	$	—	$	—