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Income Taxes (Tables)
3 Months Ended
Mar. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)

The following table presents Devon’s total income tax expense (benefit) and a reconciliation of its effective income tax rate to the U.S. statutory income tax rate.

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Earnings (loss) before income taxes

 

$

1,262

 

 

$

(32

)

 

 

 

 

 

 

 

Current income tax expense (benefit)

 

$

103

 

 

$

(5

)

Deferred income tax expense (benefit)

 

 

164

 

 

 

(243

)

Total income tax expense (benefit)

 

$

267

 

 

$

(248

)

Schedule Of Effective Income Tax Rate Reconciliation

U.S. statutory income tax rate

 

 

21

%

 

 

21

%

State income taxes

 

 

1

%

 

 

(1

%)

Deferred tax asset valuation allowance

 

 

0

%

 

 

791

%

Other

 

 

(1

%)

 

 

(48

%)

Effective income tax rate

 

 

21

%

 

 

763

%