Segment Information

3 Months Ended

Mar. 31, 2015

Segment Information [Abstract]

Segment Information

19.    Segment Information

Devon manages its operations through distinct operating segments, which are defined primarily by geographic areas. For financial reporting purposes, Devon aggregates its U.S. operating segments into one reporting segment due to the similar nature of the businesses. However, Devon’s Canadian operating segment is reported as a separate reporting segment primarily due to the significant differences between the U.S. and Canadian regulatory environments. Devon’s U.S. and Canadian segments are both primarily engaged in oil and gas exploration and production activities.

EnLink, combined with the General Partner, is presented as a separate reporting segment. Devon considers EnLink’s operations distinct from the U.S. and Canadian operating segments. Additionally, EnLink has a management team that is primarily responsible for capital and resource allocation decisions.

	U.S.		Canada		EnLink		Eliminations		Total
	(Millions)
Three Months Ended March 31, 2015:
Revenues from external customers	$	2,264	$	221	$	780	$	-	$	3,265
Intersegment revenues	$	-	$	-	$	156	$	(156)	$	-
Depreciation, depletion and amortization	$	713	$	127	$	90	$	-	$	930
Interest expense	$	87	$	25	$	19	$	(12)	$	119
Asset impairments	$	5,460	$	-	$	-	$	-	$	5,460
Earnings (loss) before income taxes	$	(5,487)	$	(172)	$	35	$	-	$	(5,624)
Income tax expense (benefit)	$	(1,993)	$	(53)	$	11	$	-	$	(2,035)
Net earnings (loss)	$	(3,494)	$	(119)	$	24	$	-	$	(3,589)
Net earnings attributable to noncontrolling interests	$	-	$	-	$	10	$	-	$	10
Net earnings (loss) attributable to Devon	$	(3,494)	$	(119)	$	14	$	-	$	(3,599)
Property and equipment, net	$	19,851	$	6,281	$	5,323	$	-	$	31,455
Total assets	$	26,926	$	7,625	$	10,893	$	(102)	$	45,342
Capital expenditures	$	1,369	$	224	$	489	$	-	$	2,082
Three Months Ended March 31, 2014:
Revenues from external customers	$	2,616	$	684	$	425	$	-	$	3,725
Intersegment revenues	$	-	$	-	$	298	$	(298)	$	-
Depreciation, depletion and amortization	$	497	$	194	$	48	$	-	$	739
Interest expense	$	100	$	19	$	5	$	(9)	$	115
Earnings before income taxes	$	396	$	92	$	72	$	-	$	560
Income tax expense	$	186	$	21	$	24	$	-	$	231
Net earnings	$	210	$	71	$	48	$	-	$	329
Net earnings attributable to noncontrolling interests	$	-	$	-	$	5	$	-	$	5
Net earnings attributable to Devon	$	210	$	71	$	43	$	-	$	324
Property and equipment, net	$	24,857	$	8,369	$	4,203	$	-	$	37,429
Total assets	$	30,085	$	13,384	$	9,354	$	(58)	$	52,765
Capital expenditures	$	7,089	$	442	$	82	$	-	$	7,613
Year Ended December 31, 2014:
Property and equipment, net	$	24,572	$	6,790	$	4,934	$	-	$	36,296
Total assets	$	32,147	$	8,517	$	10,097	$	(124)	$	50,637