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Segment Disclosures and Related Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Disclosures and Related Information
Note 24—Segment Disclosures and Related Information
We explore for, produce, transport and market crude oil, bitumen, natural gas, LNG and NGLs on a worldwide basis. We manage our operations through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.
Corporate and Other represents income and costs not directly associated with an operating segment, such as most interest expense, premiums on early retirement of debt, corporate overhead and certain technology activities, including licensing revenues. Corporate assets include all cash and cash equivalents and short-term investments.
We evaluate performance and allocate resources based on net income (loss). Segment accounting policies are the same as those in Note 1. Intersegment sales are at prices that approximate market.
Analysis of Results by Operating Segment
Millions of Dollars
202320222021
Sales and Other Operating Revenues
Alaska7,098 7,905 5,480 
Lower 4838,244 52,921 29,306 
Intersegment eliminations(7)(18)(12)
Lower 4838,237 52,903 29,294 
Canada4,873 6,159 4,077 
Intersegment eliminations(1,867)(2,445)(1,583)
Canada3,006 3,714 2,494 
Europe, Middle East and North Africa5,854 11,271 5,902 
Intersegment eliminations— (1)— 
Europe, Middle East and North Africa5,854 11,270 5,902 
Asia Pacific1,913 2,606 2,579 
Other International— — 4 
Corporate and Other33 96 75 
Consolidated sales and other operating revenues$56,141 78,494 45,828 
In 2023, sales by our Lower 48 segment to a certain pipeline company accounted for approximately $5.8 billion or approximately 10 percent of our total consolidated sales and other operating revenues.
Millions of Dollars
202320222021
Depreciation, Depletion, Amortization and Impairments
Alaska$1,061 941 1,002 
Lower 485,729 4,854 4,067 
Canada425 400 392 
Europe, Middle East and North Africa587 735 862 
Asia Pacific455 518 1,483 
Other International— — — 
Corporate and Other27 44 76 
Consolidated depreciation, depletion, amortization and impairments$8,284 7,492 7,882 
Millions of Dollars
202320222021
Equity in Earnings of Affiliates
Alaska$1 4 5 
Lower 48(9)(14)(18)
Canada— — — 
Europe, Middle East and North Africa580 780 502 
Asia Pacific1,151 1,310 343 
Other International— 1 — 
Corporate and Other(3)— — 
Consolidated equity in earnings of affiliates$1,720 2,081 832 
Income Tax Provision (Benefit)
Alaska$642 885 402 
Lower 481,763 3,088 1,390 
Canada26 206 150 
Europe, Middle East and North Africa3,065 5,445 2,543 
Asia Pacific42 480 483 
Other International— 53 (53)
Corporate and Other(207)(609)(282)
Consolidated income tax provision (benefit)$5,331 9,548 4,633 
Net Income (Loss)
Alaska$1,778 2,352 1,386 
Lower 486,461 11,015 4,932 
Canada402 714 458 
Europe, Middle East and North Africa1,189 2,244 1,167 
Asia Pacific1,961 2,736 453 
Other International(13)(51)(107)
Corporate and Other(821)(330)(210)
Consolidated net income (loss)$10,957 18,680 8,079 
Investments in and Advances to Affiliates
Alaska$32 55 58 
Lower 48118 235 242 
Canada— — — 
Europe, Middle East and North Africa1,191 1,049 797 
Asia Pacific5,419 6,154 5,603 
Other International— — 1 
Corporate and Other1,145 — — 
Consolidated investments in and advances to affiliates$7,905 7,493 6,701 
Millions of Dollars
202320222021
Total Assets
Alaska$16,174 15,126 14,812 
Lower 4842,415 42,950 41,699 
Canada10,277 6,971 7,439 
Europe, Middle East and North Africa8,396 8,263 9,125 
Asia Pacific8,903 9,511 9,840 
Other International— — 1 
Corporate and Other9,759 11,008 7,745 
Consolidated total assets$95,924 93,829 90,661 
Capital Expenditures and Investments
Alaska$1,705 1,091 982 
Lower 486,487 5,630 3,129 
Canada456 530 203 
Europe, Middle East and North Africa1,111 998 534 
Asia Pacific354 1,880 390 
Other International— — 33 
Corporate and Other1,135 30 53 
Consolidated capital expenditures and investments$11,248 10,159 5,324 
Interest Income and Expense
Interest income
Alaska$— — — 
Lower 48— — — 
Canada— — — 
Europe, Middle East and North Africa1 1 2 
Asia Pacific8 9 9 
Other International— — — 
Corporate and Other403 185 22 
Interest and debt expense
Corporate and Other$780 805 884 
Sales and Other Operating Revenues by Product
Crude oil$37,833 41,492 23,648 
Natural gas10,725 26,941 16,904 
Natural gas liquids2,609 3,650 1,668 
Other*4,974 6,411 3,608 
Consolidated sales and other operating revenues by product$56,141 78,494 45,828 
*Includes bitumen and power.
Geographic Information
Millions of Dollars
Sales and Other Operating Revenues(1)
Long-Lived Assets(2)
202320222021202320222021
U.S.$45,101 60,899 34,847 53,955 51,200 50,580 
Australia— — — 5,426 6,158 5,579 
Canada3,006 3,714 2,494 9,666 6,269 6,608 
China952 1,135 724 1,635 1,538 1,476 
Indonesia(3)
— 159 879 — — 28 
Libya1,730 1,582 1,102 703 714 659 
Malaysia961 1,312 975 939 1,107 1,252 
Norway2,408 3,415 2,563 4,489 4,369 4,681 
U.K.1,978 6,273 2,236 2 1 1 
Other foreign countries5 5 8 1,134 1,003 748 
Worldwide consolidated$56,141 78,494 45,828 77,949 72,359 71,612 
(1)Sales and other operating revenues are attributable to countries based on the location of the selling operation.
(2)Defined as net PP&E plus equity investments and advances to affiliated companies.
(3)Assets divested in 2022. See Note 3.