SUPPLEMENTAL QUARTERLY FINANCIAL DATA (Unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

SUPPLEMENTAL QUARTERLY FINANCIAL DATA (Unaudited)

The following table summarizes quarterly financial data for 2017 and 2016:



	First			Second			Third			Fourth
	(In millions, except per share amounts)
2017
Oil and gas production revenues	$	1,512		$	1,346		$	1,389		$	1,640
Gain (loss) on divestitures	341			(21		)	296			11
Net income including noncontrolling interest⁽¹⁾	267			613			105			518
Net income attributable to common stock	213			572			63			456
Net income per common share⁽²⁾:
Basic	0.56			1.50			0.16			1.20
Diluted	0.56			1.50			0.16			1.19
2016
Oil and gas production revenues	$	1,087		$	1,386		$	1,439		$	1,455
Gain (loss) on divestitures	(1		)	17			5			—
Net loss including noncontrolling interest⁽¹⁾	(371		)	(200		)	(559		)	(143		)
Net loss attributable to common stock	(372		)	(244		)	(607		)	(182		)
Basic and diluted net loss per common share⁽²⁾	(0.98		)	(0.65		)	(1.60		)	(0.48		)

(1)

Operating expenses for 2017 include asset and leasehold impairments totaling $23 million, $39 million, $160 million, and $32 million in the first, second, third, and fourth quarters of 2017, respectively. Continuing operating expenses for 2016 include asset and leasehold impairments totaling $42 million, $238 million, $951 million, and $144 million in the first, second, third, and fourth quarters of 2016, respectively.


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