XML 42 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Oil and gas production revenues:    
Oil and Gas Production Revenues $ 3,647 $ 4,021
Derivative instrument losses, net (20) (100)
Other 48 25
Total revenues and other 3,675 3,946
Depreciation, depletion, and amortization:    
Oil and gas property and equipment 1,109 1,210
Other assets 97 102
Asset retirement obligation accretion 44 63
Lease operating expenses 597 722
Gathering and transportation 70 73
Taxes other than income 181 229
General and administrative 119 112
Acquisitions, divestitures, and transition 2  
Financing costs, net 27 55
Total operating expenses 2,246 2,566
NET INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 1,429 1,380
Current income tax provision 416 497
Deferred income tax provision 162 105
NET INCOME (LOSS) FROM CONTINUING OPERATIONS INCLUDING NONCONTROLLING INTEREST 851 778
Net loss from discontinued operations, net of tax (517) (61)
NET INCOME INCLUDING NONCONTROLLING INTEREST 334 717
Preferred stock dividends    19
Net income attributable to noncontrolling interest 98  
Net income attributable to common shareholders 236 698
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS:    
Net income from continuing operations attributable to common shareholders 753 759
Net loss from discontinued operations (517) (61)
Net income attributable to common shareholders 236 698
BASIC NET INCOME PER COMMON SHARE:    
Basic net income from continuing operations per share $ 1.92 $ 1.94
Basic net loss from discontinued operations per share $ (1.32) $ (0.16)
Basic net income per share $ 0.60 $ 1.78
DILUTED NET INCOME PER COMMON SHARE:    
Diluted net income from continuing operations per share $ 1.90 $ 1.91
Diluted net loss from discontinued operations per share $ (1.30) $ (0.15)
Diluted net income per share $ 0.60 $ 1.76
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:    
Basic 394 392
Diluted 396 408
DIVIDENDS DECLARED PER COMMON SHARE $ 0.25 $ 0.20
Oil Reserves [Member]
   
Oil and gas production revenues:    
Revenues 2,815 3,192
Natural Gas [Member]
   
Oil and gas production revenues:    
Revenues 646 681
Natural Gas Liquids Revenues [Member]
   
Oil and gas production revenues:    
Revenues $ 186 $ 148