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Segment Information (Tables)

12 Months Ended

Dec. 31, 2011

Reconciliation of Consolidated Adjusted EBITDAX to Income (Loss) before Income Taxes



	Years Ended December 31,
millions	2011		2010		2009
Income (loss) before income taxes	$	(3,424)	$	1,641	$	(108)
Exploration expense		1,076		974		1,107
DD&A		3,830		3,714		3,532
Impairments		1,774		216		115
Deepwater Horizon settlement and related costs⁽¹⁾		3,930		15		—
Interest expense		839		855		702
Unrealized (gains) losses on derivatives, net⁽²⁾		616		(114)		717
Less: Net income attributable to noncontrolling interests		81		60		32
Consolidated Adjusted EBITDAX	$	8,560	$	7,241	$	6,033

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(1) In the third quarter of 2011, the Company revised the definition of Adjusted EBITDAX to exclude the Deepwater Horizon settlement and related costs. The prior periods have been adjusted to reflect this change.

(2) In the fourth quarter of 2010, the Company revised the definition of Adjusted EBITDAX to exclude the impact of unrealized (gains) losses on derivatives, net. The prior periods have been adjusted to reflect this change.

Schedule of Segment Reporting Information, by Segment


		Oil and Gas						Other and
		Exploration						Intersegment
millions		& Production		Midstream		Marketing		Eliminations		Total
2011
Sales revenues		$	7,519	$	342	$	6,023	$	(2)	$	13,882
Intersegment revenues			5,005		957		(5,515)		(447)		—
Gains (losses) on divestitures and other, net			(41)		(13)		—		139		85
	Total revenues and other		12,483		1,286		508		(310)		13,967
Operating costs and expenses⁽¹⁾			3,696		786		559		186		5,227
Realized (gains) losses on derivatives, net			—		—		—		(167)		(167)
Other (income) expense, net			—		—		—		254		254
Net income attributable to
	noncontrolling interests		—		81		—		—		81
Total expenses and other			3,696		867		559		273		5,395
Unrealized (gains) losses on derivatives, net
	included in marketing revenue		—		—		(12)		—		(12)
Adjusted EBITDAX		$	8,787	$	419	$	(63)	$	(583)	$	8,560
Net properties and equipment		$	32,235	$	3,432	$	9	$	1,825	$	37,501
Capital expenditures		$	5,026	$	1,420	$	—	$	107	$	6,553
Goodwill		$	5,475	$	166	$	—	$	—	$	5,641


		Oil and Gas						Other and
		Exploration						Intersegment
millions		& Production		Midstream		Marketing		Eliminations		Total
2010
Sales revenues		$	5,613	$	192	$	5,037	$	—	$	10,842
Intersegment revenues			4,136		831		(4,572)		(395)		—
Gains (losses) on divestitures and other, net			—		—		—		142		142
	Total revenues and other		9,749		1,023		465		(253)		10,984
Operating costs and expenses⁽¹⁾			2,963		655		457		221		4,296
Realized (gains) losses on derivatives, net			—		—		—		(498)		(498)
Other (income) expense, net			—		—		—		(119)		(119)
Net income attributable to
	noncontrolling interests		—		60		—		—		60
Total expenses and other			2,963		715		457		(396)		3,739
Unrealized (gains) losses on derivatives, net
	included in marketing revenue		—		—		(4)		—		(4)
Adjusted EBITDAX		$	6,786	$	308	$	4	$	143	$	7,241
Net properties and equipment		$	32,850	$	3,303	$	9	$	1,795	$	37,957
Capital expenditures		$	4,672	$	384	$	—	$	113	$	5,169
Goodwill		$	5,143	$	139	$	—	$	—	$	5,282


2009
Sales revenues		$	3,844	$	222	$	4,144	$	—	$	8,210
Intersegment revenues			3,479		718		(3,842)		(355)		—
Gains (losses) on divestitures and other, net			43		1		—		89		133
Reversal of accrual for DWRRA dispute			657		—		—		—		657
	Total revenues and other		8,023		941		302		(266)		9,000
Operating costs and expenses⁽¹⁾			2,499		646		451		273		3,869
Realized (gains) losses on derivatives, net			—		—		—		(852)		(852)
Other (income) expense, net			—		—		—		(43)		(43)
Net income attributable to
	noncontrolling interests		—		32		—		—		32
Total expenses and other			2,499		678		451		(622)		3,006
Unrealized (gains) losses on derivatives, net
	included in marketing revenue		—		—		39		—		39
Adjusted EBITDAX		$	5,524	$	263	$	(110)	$	356	$	6,033
Net properties and equipment		$	32,338	$	3,091	$	9	$	1,766	$	37,204
Capital expenditures		$	4,001	$	303	$	—	$	254	$	4,558
Goodwill		$	5,143	$	139	$	—	$	—	$	5,282

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(1) Operating costs and expenses exclude exploration expense, DD&A, impairments, and Deepwater Horizon settlement and related costs since these expenses are excluded from Adjusted EBITDAX. For the year ended December 31, 2010 and 2009, $79 million and $61 million, respectively, has been reclassified from the oil and gas exploration and production segment to the midstream segment to properly reflect the previously reported amounts.

Schedule of Sales Revenues and Net Properties and Equipment by Geographic Area



	Years Ended December 31,
millions	2011		2010		2009
Sales Revenues
United States	$	10,477	$	8,806	$	6,773
Algeria		2,258		1,582		1,133
Other International		1,147		454		304
Total	$	13,882	$	10,842	$	8,210



	December 31,
millions	2011		2010
Net Properties and Equipment
United States	$	33,050	$	34,100
Algeria		1,416		1,165
Other International		3,035		2,692
Total	$	37,501	$	37,957

- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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