Segment Information

3 Months Ended

Mar. 31, 2016

Segment Information [Abstract]

Segment Information

21.    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 exploration and production 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.

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

	U.S.		Canada		EnLink		Eliminations		Total
	(Millions)
Three Months Ended March 31, 2016:
Revenues from external customers	$	1,302	$	117	$	707	$	-	$	2,126
Intersegment revenues	$	-	$	-	$	183	$	(183)	$	-
Depreciation, depletion and amortization	$	311	$	109	$	122	$	-	$	542
Interest expense	$	107	$	34	$	44	$	(20)	$	165
Asset impairments	$	1,608	$	554	$	873	$	-	$	3,035
Restructuring and transaction costs	$	236	$	6	$	5	$	-	$	247
Loss before income taxes	$	(2,065)	$	(749)	$	(871)	$	-	$	(3,685)
Income tax benefit	$	(5)	$	(208)	$	(4)	$	-	$	(217)
Net loss	$	(2,060)	$	(541)	$	(867)	$	-	$	(3,468)
Net loss attributable to noncontrolling interests	$	-	$	-	$	(412)	$	-	$	(412)
Net loss attributable to Devon	$	(2,060)	$	(541)	$	(455)	$	-	$	(3,056)
Property and equipment, net	$	8,901	$	4,246	$	6,117	$	-	$	19,264
Total assets	$	13,717	$	4,933	$	10,066	$	(79)	$	28,637
Capital expenditures, including acquisitions	$	1,893	$	81	$	545	$	-	$	2,519
Three Months Ended March 31, 2015:
Revenues from external customers	$	2,260	$	221	$	784	$	-	$	3,265
Intersegment revenues	$	-	$	-	$	156	$	(156)	$	-
Depreciation, depletion and amortization	$	712	$	127	$	91	$	-	$	930
Interest expense	$	87	$	25	$	19	$	(12)	$	119
Asset impairments	$	5,460	$	-	$	-	$	-	$	5,460
Earnings (loss) before income taxes	$	(5,488)	$	(172)	$	36	$	-	$	(5,624)
Income tax expense (benefit)	$	(1,993)	$	(53)	$	11	$	-	$	(2,035)
Net earnings (loss)	$	(3,495)	$	(119)	$	25	$	-	$	(3,589)
Net earnings attributable to noncontrolling interests	$	-	$	-	$	10	$	-	$	10
Net earnings (loss) attributable to Devon	$	(3,495)	$	(119)	$	15	$	-	$	(3,599)
Property and equipment, net	$	19,718	$	6,281	$	5,456	$	-	$	31,455
Total assets	$	26,751	$	7,618	$	11,007	$	(102)	$	45,274
Capital expenditures, including acquisitions	$	1,344	$	224	$	514	$	-	$	2,082