SUPPLEMENTAL QUARTERLY FINANCIAL DATA (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

The following table summarizes quarterly financial data for 2018 and 2017:



	First		Second			Third		Fourth
	(In millions, except per share amounts)
2018
Oil and gas production revenues	$	1,733	$	1,936		$	1,976	$	1,703
Gain on divestitures	7		2			1		13
Net income (loss) before income taxes	388		508			406		(344		)
Net income (loss) including noncontrolling interest⁽¹⁾	206		269			161		(350		)
Net income (loss) attributable to common stock	145		195			81		(381		)
Net income (loss) per common share⁽²⁾:
Basic	$	0.38	$	0.51		$	0.21	$	(1.00	)
Diluted	$	0.38	$	0.51		$	0.21	$	(1.00	)
2017
Oil and gas production revenues	$	1,512	$	1,346		$	1,389	$	1,640
Gain (loss) on divestitures	341		(21		)	296		11
Net income before income taxes	538		9			93		278
Net loss including noncontrolling interest⁽¹⁾	267		613			105		518
Net loss 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

(1)

Operating expenses for 2018 include asset and leasehold impairments totaling $16 million, $21 million, $49 million, and $639 million in the first, second, third, and fourth quarters of 2018, respectively. 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.


(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.