SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Results Of The Company Business Segments

The following tables summarize the results of the Company’s operating segments during the periods presented:

	Upstream		All Other		Eliminations		Total
	(In millions)
Three Months Ended September 30, 2023:
Third-party revenues	$	2,327	$	13	$	—	$	2,340
Intersegment revenues	—		84		(84)		—
Total revenues	$	2,327	$	97	$	(84)	$	2,340
Depreciation, depletion, amortization and accretion	$	435	$	7	$	—	$	442
Income (loss) from operations	$	1,339	$	19	$	(18)	$	1,340
Interest expense, net	$	(42)	$	1	$	—	$	(41)
Other income (expense)	$	(71)	$	45	$	(4)	$	(30)
Provision for (benefit from) income taxes	$	261	$	15	$	—	$	276
Net income (loss) attributable to non-controlling interest	$	78	$	—	$	—	$	78
Net income (loss) attributable to Diamondback Energy, Inc.	$	887	$	50	$	(22)	$	915
As of September 30, 2023:
Total assets	$	27,382	$	1,263	$	(596)	$	28,049

	Upstream		All Other		Eliminations		Total
	(In millions)
Three Months Ended September 30, 2022:
Third-party revenues	$	2,419	$	18	$	—	$	2,437
Intersegment revenues	—		96		(96)		—
Total revenues	$	2,419	$	114	$	(96)	$	2,437
Depreciation, depletion, amortization and accretion	$	323	$	13	$	—	$	336
Income (loss) from operations	$	1,598	$	41	$	(25)	$	1,614
Interest expense, net	$	(33)	$	(10)	$	—	$	(43)
Other income (expense)	$	(27)	$	20	$	(4)	$	(11)
Provision for (benefit from) income taxes	$	287	$	3	$	—	$	290
Net income (loss) attributable to non-controlling interest	$	76	$	10	$	—	$	86
Net income (loss) attributable to Diamondback Energy, Inc.	$	1,175	$	38	$	(29)	$	1,184
As of December 31, 2022:
Total assets	$	24,452	$	2,213	$	(456)	$	26,209

	Upstream		All Other		Eliminations		Total
	(In millions)
Nine Months Ended September 30, 2023:
Third-party revenues	$	6,126	$	58	$	—	$	6,184
Intersegment revenues	—		286		(286)		—
Total revenues	$	6,126	$	344	$	(286)	$	6,184
Depreciation, depletion, amortization and accretion	$	1,244	$	33	$	—	$	1,277
Income (loss) from operations	$	3,320	$	118	$	(73)	$	3,365
Interest expense, net	$	(139)	$	1	$	—	$	(138)
Other income (expense)	$	(370)	$	128	$	(12)	$	(254)
Provision for (benefit from) income taxes	$	626	$	22	$	—	$	648
Net income (loss) attributable to non-controlling interest	$	142	$	—	$	—	$	142
Net income (loss) attributable to Diamondback Energy, Inc.	$	2,043	$	225	$	(85)	$	2,183
As of September 30, 2023:
Total assets	$	27,382	$	1,263	$	(596)	$	28,049

	Upstream		All Other		Eliminations		Total
	(In millions)
Nine Months Ended September 30, 2022:
Third-party revenues	$	7,563	$	50	$	—	$	7,613
Intersegment revenues	—		273		(273)		—
Total revenues	$	7,563	$	323	$	(273)	$	7,613
Depreciation, depletion, amortization and accretion	$	929	$	50	$	—	$	979
Income (loss) from operations	$	5,197	$	119	$	(64)	$	5,252
Interest expense, net	$	(94)	$	(28)	$	—	$	(122)
Other income (expense)	$	(727)	$	57	$	(13)	$	(683)
Provision for (benefit from) income taxes	$	904	$	9	$	—	$	913
Net income (loss) attributable to non-controlling interest	$	125	$	30	$	—	$	155
Net income (loss) attributable to Diamondback Energy, Inc.	$	3,347	$	109	$	(77)	$	3,379
As of December 31, 2022:
Total assets	$	24,452	$	2,213	$	(456)	$	26,209