Segment Information

9 Months Ended

Sep. 30, 2013

Segment Information Disclosure [Abstract]

Segment Information [Text Block]

Segment Information

  Beginning in 2013, we changed our reportable segments and revised our management reporting to better reflect the growing importance of United States unconventional resource plays to our business. All prior-year periods presented have been recast to reflect these new segments.

We have three reportable operating segments.  Each of these segments is organized and managed based upon both geographic location and the nature of the products and services it offers.

• North America E&P ("N.A. E&P") – explores for, produces and markets liquid hydrocarbons and natural gas in North America;

• International E&P ("Int'l E&P") – explores for, produces and markets liquid hydrocarbons and natural gas outside of North America and produces and markets products manufactured from natural gas, such as liquefied natural gas ("LNG")and methanol, in Equatorial Guinea; and

• Oil Sands Mining (“OSM”) – mines, extracts and transports bitumen from oil sands deposits in Alberta, Canada, and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil.

Information regarding assets by segment is not presented because it is not reviewed by the chief operating decision maker (“CODM”).  Segment income represents income from continuing operations excluding certain items not allocated to segments as discussed below, net of income taxes, attributable to the operating segments. Our corporate and operations support general and administrative costs are not allocated to the operating segments. These costs primarily consist of employment costs (including pension effects), professional services, facilities and other costs associated with corporate and operations support activities, net of associated income tax effects.  Unrealized gains or losses on crude oil derivative instruments, impairments, gains or losses on dispositions or other items that affect comparability (as determined by the CODM) also are not allocated to operating segments.

Differences between segment totals and our consolidated totals for income taxes and depreciation, depletion and amortization represent amounts related to corporate administrative activities and other unallocated items which are included in “Items not allocated to segments, net of income taxes” in the reconciliation below. Total capital expenditures include accruals but not corporate activities.

	Three Months Ended September 30, 2013
(In millions)	N.A. E&P		Int'l E&P		OSM		Total
Revenues:
Sales and other operating revenues	$	1,321	$	1,396	$	463	$	3,180
Marketing revenues	607		58		3		668
Segment revenues	$	1,928	$	1,454	$	466	3,848
Unrealized loss on crude oil derivative instruments							(61		)
Total revenues							$	3,787
Segment income	$	242	$	321	$	106	$	669
Income from equity method investments	—		114		—		114
Depreciation, depletion and amortization	490		179		54		723
Income tax provision	143		714		35		892
Capital expenditures	831		254		65		1,150

	Three Months Ended September 30, 2012
(In millions)	N.A. E&P		Int'l E&P		OSM		Total
Revenues:
Sales and other operating revenues	$	993	$	1,907	$	460	$	3,360
Marketing revenues	548		73		10		631
Segment revenues	$	1,541	$	1,980	$	470	3,991
Unrealized gain on crude oil derivative instruments							45
Total revenues							$	4,036
Segment income	$	107	$	405	$	66	$	578
Income from equity method investments	1		121		—		122
Depreciation, depletion and amortization	360		194		60		614
Income tax provision	66		1,219		20		1,305
Capital expenditures	1,045		229		41		1,315

	Nine Months Ended September 30, 2013
(In millions)	N.A. E&P		Int'l E&P		OSM		Total
Revenues:
Sales and other operating revenues	$	3,820	$	5,015	$	1,204	$	10,039
Marketing revenues	1,391		194		12		1,597
Segment revenues	$	5,211	$	5,209	$	1,216	11,636
Unrealized loss on crude oil derivative instruments							(61		)
Total revenues							$	11,575
Segment income	$	404	$	1,156	$	164	$	1,724
Income from equity method investments	—		309		—		309
Depreciation, depletion and amortization	1,458		575		154		2,187
Income tax provision	242		2,860		55		3,157
Capital expenditures	2,705		720		207		3,632

	Nine Months Ended September 30, 2012
(In millions)	N.A. E&P		Int'l E&P		OSM		Total
Revenues:
Sales and other operating revenues	$	2,738	$	5,383	$	1,158	$	9,279
Marketing revenues	2,019		193		25		2,237
Segment revenues	$	4,757	$	5,576	$	1,183	11,516
Unrealized gain on crude oil derivative instruments							45
Total revenues							$	11,561
Segment income	$	281	$	1,185	$	154	$	1,620
Income from equity method investments	2		258		—		260
Depreciation, depletion and amortization	964		622		159		1,745
Income tax provision	166		3,260		50		3,476
Capital expenditures	2,887		569		136		3,592

The following reconciles total revenues to sales and other operating revenues as reported in the consolidated statements of income:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2013		2012		2013		2012
Total revenues	$	3,787	$	4,036	$	11,575	$	11,561
Less:  Marketing revenues	668		631		1,597		2,237
Sales and other operating revenues, including related party	$	3,119	$	3,405	$	9,978	$	9,324

The following reconciles segment income to net income as reported in the consolidated statements of income:

	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions)	2013			2012			2013			2012
Segment income	$	669		$	578		$	1,724		$	1,620
Items not allocated to segments, net of income taxes:
Corporate and other unallocated items	(61		)	(146		)	(288		)	(294		)
Unrealized gain (loss) on crude oil derivative instruments	(39		)	29			(39		)	29
Net gain (loss) on dispositions	—			(11		)	(9		)	72
Impairments	—			—			(10		)	(167		)
Net income	$	569		$	450		$	1,378		$	1,260