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Supplemental Quarterly Financial Information
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Data [Abstract]  
Supplemental Quarterly Financial Information

23.

Supplemental Quarterly Financial Information (Unaudited)

The following tables present a summary of Devon’s unaudited interim results of operations.

 

 

 

2016

 

 

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth

Quarter

 

 

Full

Year

 

 

 

(Millions, except per share amounts)

 

Total revenues and other

 

$

2,126

 

 

$

2,488

 

 

$

4,233

 

 

$

3,350

 

 

$

12,197

 

Earnings (loss) before income taxes

 

$

(3,685

)

 

$

(1,745

)

 

$

1,178

 

 

$

375

 

 

$

(3,877

)

Net earnings (loss) attributable to Devon

 

$

(3,056

)

 

$

(1,570

)

 

$

993

 

 

$

331

 

 

$

(3,302

)

Basic net earnings (loss) per share attributable to Devon

 

$

(6.44

)

 

$

(3.04

)

 

$

1.90

 

 

$

0.63

 

 

$

(6.52

)

Diluted net earnings (loss) per share attributable

   to Devon

 

$

(6.44

)

 

$

(3.04

)

 

$

1.89

 

 

$

0.63

 

 

$

(6.52

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

 

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth

Quarter

 

 

Full

Year

 

 

 

(Millions, except per share amounts)

 

Total revenues and other

 

$

3,265

 

 

$

3,393

 

 

$

3,601

 

 

$

2,886

 

 

$

13,145

 

Loss before income taxes

 

$

(5,624

)

 

$

(4,479

)

 

$

(5,623

)

 

$

(5,542

)

 

$

(21,268

)

Net loss attributable to Devon

 

$

(3,599

)

 

$

(2,816

)

 

$

(3,507

)

 

$

(4,532

)

 

$

(14,454

)

Basic net loss per share attributable to Devon

 

$

(8.88

)

 

$

(6.94

)

 

$

(8.64

)

 

$

(11.12

)

 

$

(35.55

)

Diluted net loss per share attributable to Devon

 

$

(8.88

)

 

$

(6.94

)

 

$

(8.64

)

 

$

(11.12

)

 

$

(35.55

)

 

Net Earnings (Loss) Attributable to Devon

The 2016 quarterly results include asset impairments of $3.0 billion (or $6.40 per diluted share), $1.5 billion (or $2.89 per diluted share), $0.3 billion (or $0.61 per diluted share) and $0.1 billion (or $0.24 per diluted share) for the first quarter through the fourth quarter of 2016, respectively, as discussed in Note 5. Additionally, the 2016 quarterly results include gains from asset dispositions of approximately $1.4 billion (or $2.59 per diluted share) and $540 million (or $1.04 per diluted share) during the third and fourth quarter of 2016, respectively, as discussed in Note 2.

The 2015 quarterly results include asset impairments of $5.5 billion (or $13.46 per diluted share), $4.2 billion (or $10.27 per diluted share), $5.9 billion (or $14.41 per diluted share) and $5.3 billion (or $13.09 per diluted share) for the first quarter through the fourth quarter of 2015, respectively, as discussed in Note 5.