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Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues and other income:        
Sales and other operating revenues $ 4,018 $ 3,633 $ 11,513 $ 10,969
Sales to related parties 16 16 43 45
Income from equity method investments 122 123 260 360
Net gain (loss) on disposal of assets (12) 13 126 63
Other income 17 14 43 36
Total revenues and other income 4,161 3,799 11,985 11,473
Costs and expenses:        
Cost of revenues (excludes items below) 1,296 1,600 4,005 4,671
Purchases from related parties 72 57 191 184
Depreciation, depletion and amortization 625 517 1,779 1,716
Impairments 8 0 271 307
General and administrative expenses 139 104 389 371
Other taxes 63 59 208 170
Exploration expenses 176 129 491 504
Total costs and expenses 2,379 2,466 7,334 7,923
Income from operations 1,782 1,333 4,651 3,550
Net interest and other (53) (30) (160) (62)
Loss on early extinguishment of debt 0 0 0 (279)
Income from continuing operations before income taxes 1,729 1,303 4,491 3,209
Provision for income taxes 1,279 898 3,231 2,051
Income from continuing operations 450 405 1,260 1,158
Discontinued operations 0 0 0 1,239
Net income $ 450 $ 405 $ 1,260 $ 2,397
Basic:        
Income from continuing operations, per basic share $ 0.64 $ 0.57 $ 1.79 $ 1.63
Discontinued operations, per basic share $ 0 $ 0.00 $ 0 $ 1.74
Net income, per basic share $ 0.64 $ 0.57 $ 1.79 $ 3.37
Diluted:        
Income from continuing operations, per diluted share $ 0.63 $ 0.57 $ 1.78 $ 1.62
Discontinued operations, per diluted share $ 0 $ 0.00 $ 0 $ 1.73
Net income, per diluted share $ 0.63 $ 0.57 $ 1.78 $ 3.35
Dividends paid, per share $ 0.17 $ 0.15 $ 0.51 $ 0.65
Weighted average common shares outstanding, basic 706 711 705 712
Weighted average common shares outstanding, diluted 709 714 709 716