Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2015

Statements of Operations Information Other statements of operations information is as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
(millions)	2015			2014			2015			2014
Production Expense
Lease Operating Expense	$	133		$	132		$	419		$	424
Production and Ad Valorem Taxes	28			44			89			146
Transportation and Gathering Expense	74			40			185			119
Total	$	235		$	216		$	693		$	689
Other Operating (Income) Expense, Net
Midstream Gathering and Processing (Income) Expense, Net	$	4		$	1		$	10		$	8
Corporate Restructuring Expense ⁽¹⁾	21			—			39			—
Stacked Drilling Rig Expense ⁽²⁾	13			—			20			—
Pension Plan Expense⁽³⁾	67			—			88			—
Rosetta Merger Expenses⁽⁴⁾	71			—			73			—
Gain on Divestitures	—			(30		)	—			(72		)
Other, Net	6			10			22			33
Total	$	182		$	(19	)	$	252		$	(31	)
Other Non-Operating (Income) Expense, Net
Deferred Compensation (Income) Expense ⁽⁵⁾	$	(13	)	$	(12	)	(19		)	$	—
Other (Income) Expense, Net	1			(1		)	(1		)	1
Total	$	(12	)	$	(13	)	$	(20	)	$	1


⁽¹⁾	Amount represents expenses associated with the relocation of our personnel. The expenses primarily include the relocation of our Ardmore, Oklahoma office, as well as the consolidation of our Houston personnel to our corporate headquarters in Houston.


⁽²⁾	Amount represents the day rate cost associated with drilling rigs under contract, but not currently being utilized in our US onshore drilling programs.


⁽³⁾	Amount includes the expensing of the actuarial loss from AOCL related to the termination and re-measurement of our defined benefit pension plan.


⁽⁴⁾	Amount represents expenses associated with the completion of the Rosetta Merger. See Note 3. Rosetta Merger.


⁽⁵⁾	Amounts represent decreases in the fair value of shares of our common stock held in a rabbi trust.

Balance Sheet Information Table

Balance Sheet Information Other balance sheet information is as follows:



(millions)	September 30, 2015			December 31, 2014
Accounts Receivable, Net
Commodity Sales	$	284		$	405
Joint Interest Billings	166			297
Other	140			171
Allowance for Doubtful Accounts	(19		)	(16		)
Total	$	571		$	857
Other Current Assets
Inventories, Materials and Supplies	$	116		$	81
Inventories, Crude Oil	28			24
Assets Held for Sale⁽¹⁾	78			180
Prepaid Expenses and Other Current Assets	59			40
Total	$	281		$	325
Other Noncurrent Assets
Investments in Unconsolidated Subsidiaries	$	427		$	325
Mutual Fund Investments	106			111
Commodity Derivative Assets	104			180
Other Assets	104			99
Total	$	741		$	715
Other Current Liabilities
Production and Ad Valorem Taxes	$	165		$	110
Income Taxes Payable	60			180
Deferred Income Taxes, Current	86			158
Accrued Benefit Costs, Current	30			125
Asset Retirement Obligations	141			81
Interest Payable	119			70
Current Portion of Capital Lease Obligations	57			68
Other	137			152
Total	$	795		$	944
Other Noncurrent Liabilities
Deferred Compensation Liabilities	$	229		$	218
Asset Retirement Obligations	746			670
Accrued Benefit Costs	17			24
Other	112			175
Total	$	1,104		$	1,087

⁽¹⁾Assets held for sale at September 30, 2015 include our Tanin and Karish natural gas discoveries, offshore Israel. See Update on Core Area – Israel, above.