Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Schedule of Segment Reporting Information, by Segment


	Three Months Ended June 30, 2022
(In millions)	U.S.		Int’l		Not Allocated to Segments			Total
Revenues from contracts with customers	$	2,089	$	79	$	—		$	2,168
Net gain (loss) on commodity derivatives	(70)		—		43		(b)	(27)
Income from equity method investments	—		152		—			152
Net loss on disposal of assets	—		—		(1)			(1)
Other income	2		2		7			11
Less costs and expenses:
Production	150		14		—			164
Shipping, handling and other operating	187		1		3			191
Exploration	8		—		—			8
Depreciation, depletion and amortization	415		16		5			436
Impairments	—		—		2			2
Taxes other than income	139		—		1			140
General and administrative	27		3		38			68
Net interest and other	—		—		54			54
Other net periodic benefit costs	—		—		(5)			(5)

Income tax provision (benefit)	249		39		(9)			279
Segment income (loss)	$	846	$	160	$	(40)		$	966
Total assets	$	15,757	$	1,059	$	1,470		$	18,286
Capital expenditures(a)	$	372	$	1	$	2		$	375

(a)Includes accruals.

(b)Unrealized gain on commodity derivative instruments (See Note 13).


	Three Months Ended June 30, 2021
(In millions)	U.S.		Int’l		Not Allocated to Segments			Total
Revenues from contracts with customers	$	1,189	$	65	$	—		$	1,254
Net gain (loss) on commodity derivatives	(91)		—		(75)		(b)	(166)
Income (loss) from equity method investments	—		49		—			49
Net gain on disposal of assets	—		—		1			1
Other income	3		2		—			5
Less costs and expenses:
Production	113		13		—			126
Shipping, handling and other operating	153		2		12			167
Exploration	18		—		7			25
Depreciation, depletion and amortization	506		18		8			532
Impairments	—		—		46		(c)	46
Taxes other than income	76		—		(2)			74
General and administrative	27		4		37			68
Net interest and other	—		—		59		(d)	59
Other net periodic benefit costs	—		—		1			1
Loss on early extinguishment of debt	—		—		19		(e)	19
Income tax provision (benefit)	1		11		(2)			10
Segment income (loss)	$	207	$	68	$	(259)		$	16
Total assets	$	15,747	$	1,047	$	1,006		$	17,800
Capital expenditures(a)	$	284	$	2	$	3		$	289

(a)Includes accruals.

(b)Unrealized loss on commodity derivative instruments (See Note 13).

(c)Includes impairments of $24 million associated with central facilities in Eagle Ford (See Note 10) and $22 million associated with decommissioning costs for non-producing long-lived assets in the Gulf of Mexico (‘GOM’) (See Note 10, Note 11 and Note 22).

(d)Includes a $22 million loss on 2022 interest rate swaps and a $31 million gain on 2025 interest rate swaps, neither of which were designated as cash flow hedges as of June 30, 2021 (See Note 13).

(e)Represents costs related to a make-whole provision premium and the write off of unamortized discount and issuance costs related to the redemption of the 2022 Notes in April 2021


	Six Months Ended June 30, 2022
(In millions)	U.S.		Int’l		Not Allocated to Segments			Total
Revenues from contracts with customers	$	3,803	$	126	$	—		$	3,929
Net loss on commodity derivatives	(99)		—		(71)		(b)	(170)
Income from equity method investments	—		279		—			279
Net loss on disposal of assets	—		—		(1)			(1)
Other income	6		4		9			19
Less costs and expenses:
Production	291		25		—			316
Shipping, handling and other operating	337		10		29			376
Exploration	19		—		—			19
Depreciation, depletion and amortization	819		31		9			859
Impairments	—		—		2			2
Taxes other than income	238		—		6			244
General and administrative	57		6		78			141
Net interest and other	—		—		76		(c)	76
Other net periodic benefit credit	—		—		(9)			(9)

Income tax provision (benefit)	442		62		(742)		(d)	(238)
Segment income	$	1,507	$	275	$	488		$	2,270
Total assets	$	15,757	$	1,059	$	1,470		$	18,286
Capital expenditures(a)	$	718	$	—	$	5		$	723

(a)Includes accruals.

(b)Unrealized loss on commodity derivative instruments (See Note 14).

(c)Includes a $17 million gain on 2025 interest rate swaps (See Note 13).

(d)Includes a $685 million benefit related to the partial release of our valuation allowance (See Note 6).


	Six Months Ended June 30, 2021
(In millions)	U.S.		Int’l		Not Allocated to Segments			Total
Revenue from contracts with customers	$	2,321	$	110	$	—		$	2,431
Net gain on commodity derivatives	(162)		—		(157)		(b)	(319)
Loss from equity method investments	—		93		—			93
Net gain on disposal of assets	—		—		1			1
Other income	4		3		1			8
Less costs and expenses:
Production	224		23		—			247
Shipping, handling and other operating	297		6		16			319
Exploration	39		—		7			46
Depreciation, depletion and amortization	978		37		13			1,028
Impairments	—		—		47		(c)	47
Taxes other than income	150		—		(2)			148
General and administrative	50		6		101		(d)	157
Net interest and other	—		—		72		(e)	72
Other net periodic benefit credit	—		—		(2)			(2)
Loss on early extinguishment of debt	—		—		19		(f)	19
Income tax provision (benefit)	6		16		(2)			20
Segment income (loss)	$	419	$	118	$	(424)		$	113
Total assets	$	15,747	$	1,047	$	1,006		$	17,800
Capital expenditures(a)	$	467	$	2	$	4		$	473

(a)Includes accruals.

(b)Unrealized loss on commodity derivative instruments (See Note 14).

(c)Includes second quarter 2021 impairments of $24 million associated with central facilities in Eagle Ford (See Note 10) and $22 million associated with decommissioning costs for non-producing long-lived assets in GOM (See Note 10, Note 11 and Note 22).

(d)Includes $13 million associated with the termination of an aircraft lease agreement and $12 million arising from severance expenses associated with a workforce reduction.

(e)Includes a $19 million gain on 2022 interest rate swaps and a $31 million gain on 2025 interest rate swaps, neither of which were designated as cash flow hedges as of June 30, 2021 (See Note 13).

(f)Represents costs related to a make-whole provision premium and the write off of unamortized discount and issuance costs related to the redemption of the 2022 Notes in April 2021.