Business Segments (Tables)

12 Months Ended

Dec. 31, 2023

Customers that accounted for 10% or more of the Company’s sales revenue for each of the below three years ended December 31, are shown below.


	2023		2022		2021
Chevron Corporation	16	%	19	%	30	%
ExxonMobil Corporation	27	%	12	%	N/A

Schedule of Segment Information


	Exploration and Production
(Millions of dollars)	United States 1		Canada		Other		Total E&P		Corporate and Other		Discontinued Operations		Consolidated Total
Year ended December 31, 2023
Segment income (loss) - including NCI 1	$	905.1	$	41.6	$	(65.5)	$	881.2	$	(156.0)	$	(1.5)	$	723.7
Revenues from external customers	2,928.3		517.5		11.0		3,456.8		3.4		—		3,460.2
Interest and other income (loss)	(3.9)		(1.1)		(0.6)		(5.6)		(3.0)		–		(8.6)
Interest expense, net of capitalization	(0.1)		(0.2)		(0.2)		(0.5)		(111.9)		–		(112.4)
Income tax expense (benefit)	232.7		11.2		(6.1)		237.8		(41.8)		–		196.0
Significant noncash charges (credits)

Depreciation, depletion and amortization	706.0		142.2		2.3		850.5		11.0		–		861.5
Accretion of asset retirement obligations	37.8		7.8		0.4		46.0		0.1		–		46.1
Amortization of undeveloped leases	8.1		0.1		2.7		10.9		–		–		10.9
Deferred and noncurrent income taxes	229.6		7.5		(6.7)		230.4		(50.6)		–		179.8
Additions to property, plant, equipment	671.3		206.2		13.1		890.6		24.2		–		914.8
Total assets at year-end	7,107.0		2,080.0		213.3		9,400.2		365.5		0.8		9,766.6

Year ended December 31, 2022
Segment income (loss) - including NCI 1	$	1,521.9	134.2		(77.0)		1,579.1		$	(438.3)	(2.1)		1,138.7
Revenues from external customers	3,461.2		762.9		23.0		4,247.1		(314.4)		–		3,932.7
Interest and other income (loss)	(6.6)		(1.9)		(0.5)		(9.0)		23.3		–		14.3
Interest expense, net of capitalization	(0.1)		–		(0.3)		(0.4)		(150.4)		–		(150.8)
Income tax expense (benefit)	370.8		43.6		2.9		417.3		(107.8)		–		309.5
Significant noncash charges (credits)

Depreciation, depletion and amortization	617.0		141.5		5.4		763.9		12.9		–		776.8
Accretion of asset retirement obligations	36.5		9.6		0.1		46.2		–		–		46.2
Amortization of undeveloped leases	8.7		0.2		4.4		13.3		–		–		13.3
Deferred and noncurrent income taxes	362.7		34.8		0.6		398.1		(112.0)		–		286.1
Additions to property, plant, equipment	838.6		208.5		(5.7)		1,041.4		21.9		–		1,063.3
Total assets at year-end	6,930.6		2,125.6		217.4		9,273.6		1,034.6		0.8		10,309.0



Year ended December 31, 2021
Segment income (loss) - including NCI 1	$	766.3	$	(16.1)	$	(33.5)	$	716.7	$	(668.0)	$	(1.2)	$	47.5
Revenues from external customers	2,337.5		476.3		4.9		2,818.7		(519.4)		–		2,299.3
Interest and other income (loss)	(11.6)		(1.9)		3.2		(10.3)		(6.5)		–		(16.8)
Interest expense, net of capitalization	–		–		(0.2)		(0.2)		(221.6)		–		(221.8)


	Exploration and Production
(Millions of dollars)	United States 1	Canada	Other	Total E&P	Corporate and Other	Discontinued Operations	Consolidated Total
Income tax expense (benefit)	183.9	(1.7)	(9.5)	172.7	(178.6)	–	(5.9)
Significant noncash charges (credits)
Impairment of assets	–	171.3	18.0	189.3	7.0	–	196.3
Depreciation, depletion and amortization	616.5	163.8	1.8	782.1	13.0	–	795.1
Accretion of asset retirement obligations	36.9	9.7	–	46.6	–	–	46.6
Amortization of undeveloped leases	11.1	0.2	7.6	18.9	–	–	18.9
Deferred and noncurrent income taxes	176.3	(1.9)	(8.0)	166.4	(170.5)	–	(4.1)
Additions to property, plant, equipment	519.5	52.7	13.1	585.3	–	–	585.3
Total assets at year-end	6,591.6	2,231.9	259.8	9,083.3	1,220.8	0.8	10,304.9

1 Includes results attributable to a noncontrolling interest in MP GOM.


Geographic Information	Certain long-lived assets at December 31 1
(Millions of dollars)	United States		Canada		Other		Total
2023	$	6,555.0	$	1,497.3	$	172.8	$	8,225.1
2022	6,562.8		1,499.1		166.1		8,228.0
2021	6,371.4		1,566.9		189.6		8,127.9

1 Certain long-lived assets at December 31 exclude investments, right-of-use operating lease assets, non-current receivables, deferred tax assets and other intangible assets.