XML 64 R31.htm IDEA: XBRL DOCUMENT v3.6.0.2
Acquisitions And Divestitures (Tables)
12 Months Ended
Dec. 31, 2016
Business Acquisition [Line Items]  
Summary of the Gain Computation

A summary of the gain computation follows.

 

 

 

Three Months Ended September 30, 2016

 

 

 

(Millions)

 

Proceeds received, net of purchase price adjustments and selling costs

 

$

1,653

 

Asset retirement obligation assumed by purchasers

 

 

250

 

   Total consideration received

 

 

1,903

 

 

 

 

 

 

Allocated oil and gas property basis sold

 

 

355

 

Allocated goodwill

 

 

197

 

   Total assets sold

 

 

552

 

 

 

 

 

 

Gains on asset sales

 

$

1,351

 

 

General Partner And EnLink [Member]  
Business Acquisition [Line Items]  
Schedule Of EnLink Business Combinations

 

Crosstex Energy, Inc. outstanding common shares:

 

 

 

 

 

Held by public shareholders

 

 

48.0

 

 

Restricted shares

 

 

0.4

 

 

Total subject to conversion

 

 

48.4

 

 

Exchange ratio

 

 

1.0

 

x

Converted shares

 

 

48.4

 

 

Crosstex Energy, Inc. common share price (1)

 

$

37.60

 

 

Crosstex Energy, Inc. consideration

 

$

1,823

 

 

Fair value of noncontrolling interest in E2 (2)

 

 

18

 

 

Total Crosstex Energy, Inc. consideration and

   fair value of noncontrolling interests

 

$

1,841

 

 

Crosstex Energy, LP outstanding units:

 

 

 

 

 

Common units held by public unitholders

 

 

75.1

 

 

Preferred units held by third party (3)

 

 

17.1

 

 

Restricted units

 

 

0.4

 

 

Total

 

 

92.6

 

 

Crosstex Energy, LP common unit price (4)

 

$

30.51

 

 

Crosstex Energy, LP common units value

 

$

2,825

 

 

Crosstex Energy, LP outstanding unit options value

 

 

4

 

 

Total fair value of noncontrolling interests

   in the Crosstex Energy, LP (4)

 

 

2,829

 

 

Total consideration and fair value of

   noncontrolling interests

 

$

4,670

 

 

 

(1)

The final purchase price is based on the fair value of Crosstex Energy, Inc.’s common shares as of the closing date, March 7, 2014.

(2)

Represents the value of noncontrolling interests related to the General Partner’s equity investment in E2.

(3)

Crosstex Energy, LP converted the preferred units to common units in February 2014.

(4)

The final purchase price is based on the fair value of Crosstex Energy, LP’s common units as of the closing date, March 7, 2014.

Schedule Of Purchase Price Allocation

 

Assets acquired:

 

 

 

 

Current assets

 

$

437

 

Property, plant and equipment

 

 

2,438

 

Intangible assets

 

 

569

 

Equity investment

 

 

222

 

Goodwill (1)

 

 

3,283

 

Other long-term assets

 

 

1

 

Liabilities assumed:

 

 

 

 

Current liabilities

 

 

(515

)

Long-term debt

 

 

(1,454

)

Deferred income taxes

 

 

(210

)

Other long-term liabilities

 

 

(101

)

Total purchase price

 

$

4,670

 

 

(1)

Goodwill is the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Goodwill is not amortized and is not deductible for tax purposes.

General Partner and EnLink and GeoSouthern [Member]  
Business Acquisition [Line Items]  
Schedule Of Unaudited Pro Forma Information For General Partner and EnLink And GeoSouthern

The following unaudited pro forma financial information has been prepared assuming both the EnLink formation and the GeoSouthern acquisition occurred on January 1, 2014. The pro forma information is not intended to reflect the actual results of operations that would have occurred if the business combination and acquisition had been completed at the dates indicated. In addition, they do not project Devon’s results of operations for any future period.  

 

 

 

Year Ended December 31, 2014

 

 

 

(Millions)

 

Total operating revenues

 

$

20,213

 

Net earnings

 

$

1,716

 

Noncontrolling interests

 

$

97

 

Net earnings attributable to Devon

 

$

1,619

 

Net earnings per common share attributable to Devon

 

$

3.94

 

 

EnLink [Member]  
Business Acquisition [Line Items]  
Schedule Of EnLink Business Combinations

 

 

 

 

 

Purchase Price

(Millions)

 

 

Allocation

(Millions)

 

Date

 

Acquiree

 

Cash

 

 

EnLink

Units

 

 

PP&E

 

 

Goodwill

 

 

Intangibles

 

 

Other

 

January 2015

 

LPC

 

$

108

 

 

 

 

 

$

30

 

 

$

30

 

 

$

43

 

 

$

5

 

March 2015

 

Coronado

 

$

240

 

 

$

360

 

 

$

302

 

 

$

18

 

 

$

281

 

 

$

(1

)

October 2015

 

Matador

 

$

141

 

 

 

 

 

$

36

 

 

$

11

 

 

$

99

 

 

$

(5)