Segment Information

We have two reportable operating segments. Both of these segments are organized and managed based upon geographic location and the nature of the products and services it offers.


•	United States E&P ("U.S. E&P") – explores for, produces and markets crude oil and condensate, NGLs and natural gas in the United States


•	International E&P ("Int’l E&P") – explores for, produces and markets crude oil and condensate, NGLs and natural gas outside of the United States and produces and markets products manufactured from natural gas, such as LNG and methanol, in Equatorial Guinea (“E.G.”)

Information regarding assets by segment is not presented because it is not reviewed by the chief operating decision maker (“CODM”). Segment income (loss) represents income (loss) which excludes certain items not allocated to our operating segments, net of income taxes. A portion of our corporate and operations general and administrative support costs are not allocated to the operating segments. These unallocated costs primarily consist of employment costs (including pension effects), professional services, facilities and other costs associated with corporate and operations support activities. Additionally, items which affect comparability such as: gains or losses on dispositions, certain impairments, unrealized gains or losses on commodity derivative instruments, pension settlement losses or other items (as determined by the CODM) are not allocated to operating segments.



	Three Months Ended September 30, 2018
							Not Allocated
(In millions)	U.S. E&P			Int'l E&P			to Segments				Total
Revenues from contracts with customers	$	1,347		$	191		$	—			$	1,538
Net gain (loss) on commodity derivatives	(89		)	—			19			^(b)	(70		)
Income from equity method investments	—			64			—				64
Net gain (loss) on disposal of assets	—			—			16			^(c)	16
Other income	2			4			113			^(d)	119
Less costs and expenses:
Production	172			43			—				215
Shipping, handling and other operating	136			16			—				152
Exploration	55			1			—				56
Depreciation, depletion and amortization	571			49			6				626
Impairments	—			—			8			^(e)	8
Taxes other than income	86			—			—				86
General and administrative	37			7			57				101
Net interest and other	—			—			58				58
Other net periodic benefit costs	—			(3		)	11			^(f)	8
Income tax provision (benefit)	2			30			71				103
Segment income (loss) / Income (loss) from continuing operations	$	201		$	116		$	(63	)		$	254
Capital expenditures ^(a)	$	691		$	6		$	7			$	704


^(a)	Includes accruals.


^(b)	Unrealized gain on commodity derivative instruments (See Note 13).


^(c)	Sales of certain non-core proved properties in our International and United States E&P segments (See Note 5).


^(d)	Reduction of our asset retirement obligation in our International E&P segment (See Note 12).


^(e)	Due to the anticipated sale of non-core property in our International E&P segment (See Note 11).


^(f)	Includes pension settlement loss of $10 million (See Note 18).



	Three Months Ended September 30, 2017
						Not Allocated
(In millions)	U.S. E&P			Int'l E&P		to Segments				Total
Revenues from contracts with customers	$	772		$	364	$	—			$	1,136
Net gain (loss) on commodity derivatives	34			—		(56		)	^(b)	(22		)
Marketing revenues	12			36		—				48
Income from equity method investments	—			63		—				63
Net gain on disposal of assets	1			—		18			^(c)	19
Other income	3			—		5				8
Less costs and expenses:
Production	121			76		—				197
Marketing costs	14			35		—				49
Shipping, handling and other operating	80			31		(2		)		109
Exploration	41			3		250			^(d)	294
Depreciation, depletion and amortization	531			102		8				641
Impairments	—			—		201			^(e)	201
Taxes other than income	44			—		—				44
General and administrative	29			6		54				89
Net interest and other	—			—		35			^(f)	35
Other net periodic benefit costs	—			—		5			^(g)	5
Loss on early extinguishment of debt	—			—		46			^(h)	46
Income tax provision (benefit)	—			106		35				141
Segment income (loss) / Income (loss) from continuing operations	$	(38	)	$	104	$	(665	)		$	(599	)
Capital expenditures ^(a)	$	541		$	4	$	9			$	554


^(a)	Includes accruals.


^(b)	Unrealized loss on commodity derivative instruments (See Note 13).


^(c)	Primarily related to the sale of certain conventional assets in Oklahoma (See Note 5).


^(d)	Primarily related to unproved property impairments associated with certain non-core properties within our International E&P segment (See Note 11).


^(e)	Primarily related to proved property impairments associated with certain non-core properties within our International E&P segment (See Note 11).


^(f)	Includes a gain of $46 million resulting from the termination of our forward starting interest rate swaps (See Note 13).


^(g)	Includes pension settlement loss of $8 million (See Note 18.)


^(h)	Primarily related to the make-whole call provisions paid upon redemption of our senior unsecured notes (See Note 15).



	Nine Months Ended September 30, 2018
							Not Allocated
(In millions)	U.S. E&P			Int'l E&P			to Segments				Total
Revenues from contracts with customers	$	3,693		$	829		$	—			$	4,522
Net gain (loss) on commodity derivatives	(255		)	—			(69		)	^(b)	(324		)
Income from equity method investments	—			161			—				161
Net gain (loss) on disposal of assets	—			—			323			^(c)	323
Other income	7			7			121			^(d)	135
Less costs and expenses:
Production	476			162			(1		)		637
Shipping, handling and other operating	364			45			(1		)		408
Exploration	170			3			—				173
Depreciation, depletion and amortization	1,655			153			20				1,828
Impairments	—			—			50			^(e)	50
Taxes other than income	218			—			(3		)		215
General and administrative	108			25			173				306
Net interest and other	—			—			168				168
Other net periodic benefit costs	—			(7		)	18			^(f)	11
Income tax provision (benefit)	5			226			84				315
Segment income (loss) / Income (loss) from continuing operations	$	449		$	390		$	(133	)		$	706
Capital expenditures ^(a)	$	1,943		$	28		$	17			$	1,988


^(a)	Includes accruals.


^(b)	Unrealized loss on commodity derivative instruments (See Note 13).


^(c)	Primarily related to the gain on sale of our Libya subsidiary (See Note 5).


^(d)	Reduction of our asset retirement obligation in our International E&P segment (See Note 12).


^(e)	Due to the anticipated sales of certain non-core proved properties in our International and United States E&P segments (See Note 11).


^(f)	Includes pension settlement loss of $16 million (See Note 18).



	Nine Months Ended September 30, 2017
							Not Allocated
(In millions)	U.S. E&P			Int'l E&P			to Segments				Total
Revenue from contracts with customers	$	2,124		$	787		$	—			$	2,911
Net gain (loss) on commodity derivatives	51			—			64			^(b)	115
Marketing revenues	25			92			—				117
Income from equity method investments	—			183			—				183
Net gain (loss) on disposal of assets	2			—			24			^(c)	26
Other income	9			14			8				31
Less costs and expenses:
Production	348			180			—				528
Marketing costs	30			91			—				121
Shipping, handling and other operating	250			59			—				309
Exploration	97			5			250			^(d)	352
Depreciation, depletion and amortization	1,498			266			25				1,789
Impairments	4			—			201			^(e)	205
Taxes other than income	116			—			12				128
General and administrative	92			21			163				276
Net interest and other	—			—			199			^(f)	199
Other net periodic benefit costs	—			(4		)	20			^(g)	16
Loss on early extinguishment of debt	—			—			46			^(h)	46
Income tax provision (benefit)	—			202			14				216
Segment income (loss) / Income (loss) from continuing operations	$	(224	)	$	256		$	(834	)		$	(802	)
Capital expenditures ^(a)	$	1,465		$	27		$	20			$	1,512


^(a)	Includes accruals.


^(b)	Unrealized gain on commodity derivative instruments (See Note 13).


^(c)	Primarily related to the sale of certain conventional assets in Oklahoma (See Note 5).


^(d)	Primarily related to unproved property impairments associated with certain non-core properties within our International E&P segment (See Note 11).


^(e)	Primarily related to proved property impairments associated with certain non-core properties within our International E&P segment (See Note 11).


^(f)	Includes a gain of $46 million resulting from the termination of our forward starting interest rate swaps (See Note 13).


^(g)	Includes pension settlement loss of $25 million (See Note 18).


^(h)	Primarily related to the make-whole call provisions paid upon redemption of our senior unsecured notes (See Note 15).