XML 24 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating Revenues and Other      
Total $ 17,275,399 $ 11,208,320 $ 7,650,632 [1]
Operating Expenses      
Lease and Well 1,282,678 1,044,847 927,452
Transportation Costs [2] 746,876 740,352 764,106
Gathering and Processing Costs 436,973 [2],[3] 148,775 122,901
Exploration Costs 148,999 145,342 124,953
Dry Hole Costs [2] 5,405 4,609 10,657
Impairments 347,021 479,240 620,267
Marketing Costs 5,203,243 3,330,237 2,007,635
Depreciation, Depletion and Amortization 3,435,408 3,409,387 3,553,417
General and Administrative 426,969 434,467 394,815
Taxes Other Than Income 772,481 544,662 349,710
Total 12,806,053 10,281,918 8,875,913
Operating Income (Loss) 4,469,346 926,402 (1,225,281)
Other Income (Expense), Net 16,704 9,152 (50,543)
Income (Loss) Before Interest Expense and Income Taxes 4,486,050 935,554 (1,275,824)
Interest Expense      
Incurred 269,549 301,801 313,341
Capitalized (24,497) (27,429) (31,660)
Net Interest Expense 245,052 274,372 281,681
Income (Loss) Before Income Taxes 4,240,998 661,182 (1,557,505)
Income Tax Provision (Benefit) 821,958 (1,921,397) (460,819)
Net Income (Loss) $ 3,419,040 $ 2,582,579 $ (1,096,686)
Net Income (Loss) Per Share      
Basic $ 5.93 $ 4.49 $ (1.98)
Diluted $ 5.89 $ 4.46 $ (1.98)
Average Number of Common Shares [Abstract]      
Basic (in shares) 576,578 574,620 553,384
Diluted (in shares) 580,441 578,693 553,384
Other Comprehensive Income (Loss)      
Foreign Currency Translation Adjustments $ 16,816 $ 2,799 $ 12,097
Other, Net of Tax 1,123 (3,086) 2,231
Other Comprehensive Income (Loss) 17,939 (287) 14,328
Comprehensive Income (Loss) 3,436,979 2,582,292 (1,082,358)
Crude Oil and Condensate      
Operating Revenues and Other      
Revenues 9,517,440 6,256,396 4,317,341
Natural Gas Liquids      
Operating Revenues and Other      
Revenues 1,127,510 729,561 437,250
Natural Gas      
Operating Revenues and Other      
Revenues 1,301,537 921,934 742,152
Gains (Losses) on Mark-to-Market Commodity Derivative Contracts      
Operating Revenues and Other      
Revenues (165,640) 19,828 (99,608)
Gathering, Processing and Marketing      
Operating Revenues and Other      
Revenues 5,230,355 3,298,087 1,966,259
Gains (Losses) on Asset Dispositions, Net      
Operating Revenues and Other      
Revenues 174,562 (99,096) 205,835
Other, Net      
Operating Revenues and Other      
Revenues $ 89,635 $ 81,610 $ 81,403
[1] EOG had sales activity with three significant purchasers in 2016, one totaling $1.2 billion, one totaling $1.1 billion and one totaling $1.0 billion of consolidated Operating Revenues and Other in the United States segment.
[2] Excludes gains or losses on the mark-to-market of financial commodity derivative contracts, gains or losses on sales of reserves and related assets, interest charges and general corporate expenses for each of the three years in the period ended December 31, 2018.
[3] Effective January 1, 2018, EOG adopted the provisions of Accounting Standards Update (ASU) 2014-09, "Revenue From Contracts With Customers" (ASU 2014-09). In connection with the adoption of ASU 2014-09, EOG presents natural gas processing fees relating to certain processing and marketing agreements within its United States segment as Gathering and Processing Costs instead of as a deduction to Natural Gas Revenues. There was no impact to operating income or net income resulting from changes to the presentation of natural gas processing fees (see Note 1 to Consolidated Financial Statements).