Supplemental Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Supplemental Quarterly Financial Data (Unaudited)

15. SUPPLEMENTAL QUARTERLY FINANCIAL DATA (Unaudited)


	First		Second		Third		Fourth		Total
	(In millions, except per share amounts)
2015
Revenues and other	$	1,630	$	1,977	$	1,496	$	1,263	$	6,366
Expenses⁽²⁾⁽³⁾		6,134		6,809		7,047		9,133		29,123

Net income (loss) from continuing operations including noncontrolling interest		(4,504)		(4,832)		(5,551)		(7,870)		(22,757)
Net income (loss) from discontinued operations, net of tax		(132)		(732)		(95)		188		(771)

Net income (loss) including noncontrolling interest	$	(4,636)	$	(5,564)	$	(5,646)	$	(7,682)	$	(23,528)

Net income (loss) attributable to common stock	$	(4,651)	$	(5,600)	$	(5,655)	$	(7,213)	$	(23,119)

Basic net income (loss) per common share⁽¹⁾:
Net income (loss) from continuing operations	$	(11.99)	$	(12.89)	$	(14.70)	$	(19.57)	$	(59.16)
Net income (loss) from discontinued operations		(0.35)		(1.94)		(0.25)		0.50		(2.04)

Net income (loss) per share	$	(12.34)	$	(14.83)	$	(14.95)	$	(19.07)	$	(61.20)

Diluted net income (loss) per common share⁽¹⁾:
Net income (loss) from continuing operations	$	(11.99)	$	(12.89)	$	(14.70)	$	(19.57)	$	(59.16)
Net income (loss) from discontinued operations		(0.35)		(1.94)		(0.25)		0.50		(2.04)

Net income (loss) per share	$	(12.34)	$	(14.83)	$	(14.95)	$	(19.07)	$	(61.20)

2014
Revenues and other	$	3,388	$	3,289	$	3,441	$	2,683	$	12,801
Expenses⁽²⁾⁽³⁾		2,638		2,732		4,526		6,377		16,273

Net income (loss) from continuing operations including noncontrolling interest		750		557		(1,085)		(3,694)		(3,472)
Net income (loss) from discontinued operations, net of tax		(416)		56		(156)		(1,072)		(1,588)

Net income (loss) including noncontrolling interest	$	334	$	613	$	(1,241)	$	(4,766)	$	(5,060)

Net income (loss) attributable to common stock	$	236	$	505	$	(1,330)	$	(4,814)	$	(5,403)

Basic net income (loss) per common share⁽¹⁾:
Net income (loss) from continuing operations	$	1.66	$	1.17	$	(3.08)	$	(9.93)	$	(9.93)
Net income (loss) from discontinued operations		(1.06)		0.14		(0.42)		(2.85)		(4.13)

Net income (loss) per share	$	0.60	$	1.31	$	(3.50)	$	(12.78)	$	(14.06)

Diluted net income (loss) per common share⁽¹⁾:
Net income (loss) from continuing operations	$	1.65	$	1.17	$	(3.08)	$	(9.93)	$	(9.93)
Net income (loss) from discontinued operations		(1.05)		0.14		(0.42)		(2.85)		(4.13)

Net income (loss) per share	$	0.60	$	1.31	$	(3.50)	$	(12.78)	$	(14.06)

⁽¹⁾

The sum of the individual quarterly net income per common share amounts may not agree with full-year net income per common share as each quarterly computation is based on the weighted-average number of common shares outstanding during that period.

⁽²⁾

In 2015, continuing operating expenses include non-cash write-downs of the Company’s oil and gas properties totaling $16.6 billion, net of tax, in the U.S., Canada, North Sea, and Egypt regions. In 2014, operating expenses include non-cash write-downs of the Company’s oil and gas properties totaling $3.1 billion, net of tax, in the U.S. and North Sea regions.

⁽³⁾

In 2015, continuing operating expenses include non-cash asset impairments totaling $1.9 billion, including $1.7 billion for impairment of GTP assets, $148 million for impairment in an equity method investment, and $55 million for inventory write-downs. In 2014, operating expenses include non-cash asset impairments totaling $1.9 billion, including $1.3 billion for the impairment of goodwill, $604 million for the impairment of assets held for sale, and other asset impairments.