XML 59 R47.htm IDEA: XBRL DOCUMENT v3.24.3
Segment Information (Details)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
USD ($)
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Sep. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Sep. 30, 2024
USD ($)
segment
Sep. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
Segment Reporting [Abstract]                  
Number of reportable segments | segment             2    
Number of operating segments | segment             2    
Segment Reporting Information [Line Items]                  
Revenues from contracts with customers $ 1,741     $ 1,771     $ 4,945 $ 4,822  
Net gain (loss) on commodity derivatives 9     1     (14) 19  
Income from equity method investments 39     38     104 140  
Net gain on disposal of assets 0     1     10 6  
Other income (expense) 2     2     4 19  
Less costs and expenses:                  
Production 223     192     660 607  
Shipping, handling and other operating, including related party 204     164     548 487  
Exploration 9     20     30 46  
Depreciation, depletion and amortization 627     583     1,728 1,662  
Impairments 1     0     1 0  
Taxes other than income 99     113     298 251  
General and administrative 88     72     273 225  
Net interest and other 77     94     226 268  
Other net periodic benefit credits (3)     (5)     (8) (11)  
Income tax provision (benefit) 179     127     360 314  
Net income 287 $ 349 $ 297 453 $ 287 $ 417 933 1,157  
Total assets 19,422     19,919     19,422 19,919 $ 19,575
Capital expenditures 458     449     1,726 1,673  
Tax credit carryforward, valuation allowance 75           75    
Marathon Oil Corp. | ConocoPhillips                  
Less costs and expenses:                  
Merger transaction costs 6           16    
Eagle Ford                  
Less costs and expenses:                  
Taxes other than income               47  
Permian Basin                  
Less costs and expenses:                  
Exploration       11       11  
Dry well cost               10  
U.S.                  
Segment Reporting Information [Line Items]                  
Revenues from contracts with customers 1,615     1,700     4,588 4,643  
U.S. | Eagle Ford                  
Segment Reporting Information [Line Items]                  
Revenues from contracts with customers 707     717     1,920 1,967  
Operating Segments | U.S.                  
Segment Reporting Information [Line Items]                  
Revenues from contracts with customers 1,615     1,700     4,588 4,643  
Net gain (loss) on commodity derivatives 0     7     0 27  
Income from equity method investments 0     0     0 0  
Net gain on disposal of assets       0     0 0  
Other income (expense) (1)     0     (4) 12  
Less costs and expenses:                  
Production 209     173     608 542  
Shipping, handling and other operating, including related party 187     162     491 482  
Exploration 9     8     26 19  
Depreciation, depletion and amortization 611     570     1,673 1,622  
Impairments 0           0    
Taxes other than income 99     112     298 252  
General and administrative 39     32     118 98  
Net interest and other 0     0     0 0  
Other net periodic benefit credits 0     0     0 0  
Income tax provision (benefit) 98     145     295 372  
Net income 362     505     1,075 1,295  
Total assets 18,443     18,503     18,443 18,503  
Capital expenditures 454     444     1,712 1,661  
Operating Segments | Int’l                  
Segment Reporting Information [Line Items]                  
Revenues from contracts with customers 126     71     357 179  
Net gain (loss) on commodity derivatives 0     0     0 0  
Income from equity method investments 39     38     104 140  
Net gain on disposal of assets       0     0 0  
Other income (expense) 2     1     5 5  
Less costs and expenses:                  
Production 14     19     52 65  
Shipping, handling and other operating, including related party 17     2     47 5  
Exploration 0     1     0 1  
Depreciation, depletion and amortization 11     12     31 34  
Impairments 0           0    
Taxes other than income 0     0     0 0  
General and administrative 3     3     10 9  
Net interest and other 0     0     0 0  
Other net periodic benefit credits 0     0     0 0  
Income tax provision (benefit) 27     11     70 29  
Net income 95     62     256 181  
Total assets 882     1,072     882 1,072  
Capital expenditures 3     1     7 3  
Not Allocated to Segments                  
Segment Reporting Information [Line Items]                  
Revenues from contracts with customers 0     0     0 0  
Net gain (loss) on commodity derivatives 9     (6)     (14) (8)  
Income from equity method investments 0     0     0 0  
Net gain on disposal of assets       1     10 6  
Other income (expense) 1     1     3 2  
Less costs and expenses:                  
Production 0     0     0 0  
Shipping, handling and other operating, including related party 0     0     10 0  
Exploration 0     11     4 26  
Depreciation, depletion and amortization 5     1     24 6  
Impairments 1           1    
Taxes other than income 0     1     0 (1)  
General and administrative 46     37     145 118  
Net interest and other 77     94     226 268  
Other net periodic benefit credits (3)     (5)     (8) (11)  
Income tax provision (benefit) 54     (29)     (5) (87)  
Net income (170)     (114)     (398) (319)  
Total assets 97     344     97 344  
Capital expenditures $ 1     $ 4     $ 7 $ 9