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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues and other income:        
Revenues from contracts with customers $ 2,168 $ 1,254 $ 3,929 $ 2,431
Net gain (loss) on commodity derivatives (27) (166) (170) (319)
Income from equity method investments 152 49 279 93
Net gain (loss) on disposal of assets (1) 1 (1) 1
Other income 11 5 19 8
Total revenues and other income 2,303 1,143 4,056 2,214
Costs and expenses:        
Production 164 126 316 247
Shipping, handling and other operating 191 167 376 319
Exploration 8 25 19 46
Depreciation, depletion and amortization 436 532 859 1,028
Impairments 2 46 2 47
Taxes other than income 140 74 244 148
General and administrative 68 68 141 157
Total costs and expenses 1,009 1,038 1,957 1,992
Income from operations 1,294 105 2,099 222
Net interest and other (54) (59) (76) (72)
Other net periodic benefit (costs) credits 5 (1) 9 2
Loss on early extinguishment of debt 0 (19) 0 (19)
Income before income taxes 1,245 26 2,032 133
Provision (benefit) for income taxes 279 10 (238) 20
Net income $ 966 $ 16 $ 2,270 $ 113
Net income per share:        
Basic (in dollars per share) $ 1.37 $ 0.02 $ 3.17 $ 0.14
Diluted (in dollars per share) $ 1.37 $ 0.02 $ 3.16 $ 0.14
Weighted average common shares outstanding:        
Basic (in shares) 703 789 717 790
Diluted (in shares) 705 789 719 791