XML 62 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
Changes in Accounting Principle (Tables)
12 Months Ended
Dec. 31, 2017
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]  
Schedules Of The Effects Of The Change To The Successful Efforts Method

The following tables present the effects of the change to the successful efforts method in the consolidated financial statements.

 

 

 

Changes to the Consolidated Comprehensive

 

 

 

Statement of Earnings

 

 

 

 

 

 

 

 

 

 

 

As Reported Under

 

For the Year Ended December 31, 2017

 

Under Full Cost

 

 

Changes

 

 

Successful Efforts

 

Exploration expenses

 

$

 

 

$

380

 

 

$

380

 

Depreciation, depletion and amortization

 

 

1,579

 

 

 

495

 

 

 

2,074

 

Asset dispositions

 

 

(5

)

 

 

(212

)

 

 

(217

)

General and administrative expenses

 

 

682

 

 

 

190

 

 

 

872

 

Financing costs, net

 

 

494

 

 

 

4

 

 

 

498

 

Other expenses

 

 

(102

)

 

 

(22

)

 

 

(124

)

Earnings before income taxes

 

 

1,731

 

 

 

(835

)

 

 

896

 

Income tax benefit

 

 

(140

)

 

 

(42

)

 

 

(182

)

Net earnings

 

 

1,871

 

 

 

(793

)

 

 

1,078

 

Net earnings attributable to Devon

 

 

1,691

 

 

 

(793

)

 

 

898

 

Net earnings per share attributable to Devon:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

3.22

 

 

 

(1.51

)

 

 

1.71

 

Diluted

 

 

3.20

 

 

 

(1.50

)

 

 

1.70

 

Comprehensive earnings:

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

 

1,871

 

 

 

(793

)

 

 

1,078

 

Foreign currency translation and other

 

 

4

 

 

 

79

 

 

 

83

 

Comprehensive earnings

 

 

1,904

 

 

 

(714

)

 

 

1,190

 

Comprehensive earnings attributable to Devon

 

 

1,724

 

 

 

(714

)

 

 

1,010

 

 

 

 

Changes to the Consolidated Comprehensive

 

 

 

Statement of Earnings

 

 

 

 

 

 

 

 

 

 

 

As Reported Under

 

For the Year Ended December 31, 2016

 

Under Full Cost

 

 

Changes

 

 

Successful Efforts

 

Exploration expenses

 

$

 

 

$

215

 

 

$

215

 

Depreciation, depletion and amortization

 

 

1,792

 

 

 

304

 

 

 

2,096

 

Asset impairments

 

 

4,975

 

 

 

(3,665

)

 

 

1,310

 

Asset dispositions

 

 

(1,887

)

 

 

404

 

 

 

(1,483

)

General and administrative expenses

 

 

658

 

 

 

207

 

 

 

865

 

Financing costs, net

 

 

904

 

 

 

3

 

 

 

907

 

Other expenses

 

 

403

 

 

 

(28

)

 

 

375

 

Loss before income taxes

 

 

(3,877

)

 

 

2,560

 

 

 

(1,317

)

Income tax expense (benefit)

 

 

(173

)

 

 

314

 

 

 

141

 

Net loss

 

 

(3,704

)

 

 

2,246

 

 

 

(1,458

)

Net loss attributable to Devon

 

 

(3,302

)

 

 

2,246

 

 

 

(1,056

)

Net loss per share attributable to Devon:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

(6.52

)

 

 

4.43

 

 

 

(2.09

)

Diluted

 

 

(6.52

)

 

 

4.43

 

 

 

(2.09

)

Comprehensive loss:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

(3,704

)

 

 

2,246

 

 

 

(1,458

)

Foreign currency translation and other

 

 

32

 

 

 

(21

)

 

 

11

 

Comprehensive loss

 

 

(3,650

)

 

 

2,225

 

 

 

(1,425

)

Comprehensive loss attributable to Devon

 

 

(3,248

)

 

 

2,225

 

 

 

(1,023

)

 

 

 

Changes to the Consolidated Comprehensive

 

 

 

Statement of Earnings

 

 

 

 

 

 

 

 

 

 

 

As Reported Under

 

For the Year Ended December 31, 2015

 

Under Full Cost

 

 

Changes

 

 

Successful Efforts

 

Exploration expenses

 

$

 

 

$

451

 

 

$

451

 

Depreciation, depletion and amortization

 

 

3,129

 

 

 

893

 

 

 

4,022

 

Asset impairments

 

 

20,820

 

 

 

(3,173

)

 

 

17,647

 

Asset dispositions

 

 

 

 

 

7

 

 

 

7

 

General and administrative expenses

 

 

868

 

 

 

325

 

 

 

1,193

 

Financing costs, net

 

 

517

 

 

 

2

 

 

 

519

 

Other expenses

 

 

179

 

 

 

85

 

 

 

264

 

Loss before income taxes

 

 

(21,268

)

 

 

1,410

 

 

 

(19,858

)

Income tax benefit

 

 

(6,065

)

 

 

(148

)

 

 

(6,213

)

Net loss

 

 

(15,203

)

 

 

1,558

 

 

 

(13,645

)

Net loss attributable to Devon

 

 

(14,454

)

 

 

1,558

 

 

 

(12,896

)

Net loss per share attributable to Devon:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

(35.55

)

 

 

3.83

 

 

 

(31.72

)

Diluted

 

 

(35.55

)

 

 

3.83

 

 

 

(31.72

)

Comprehensive loss:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

(15,203

)

 

 

1,558

 

 

 

(13,645

)

Foreign currency translation and other

 

 

(559

)

 

 

116

 

 

 

(443

)

Comprehensive loss

 

 

(15,752

)

 

 

1,674

 

 

 

(14,078

)

Comprehensive loss attributable to Devon

 

 

(15,003

)

 

 

1,674

 

 

 

(13,329

)

 

 

 

Changes to the Consolidated

 

 

 

Statement of Cash Flows

 

 

 

 

 

 

 

 

 

 

 

As Reported Under

 

For the Year Ended December 31, 2017

 

Under Full Cost

 

 

Changes

 

 

Successful Efforts

 

Net earnings

 

$

1,871

 

 

$

(793

)

 

$

1,078

 

Depreciation, depletion and amortization

 

 

1,579

 

 

 

495

 

 

 

2,074

 

Exploratory dry hole expense and unproved

   leasehold impairments

 

 

 

 

 

219

 

 

 

219

 

Gains and losses on asset sales

 

 

(5

)

 

 

(212

)

 

 

(217

)

Deferred income tax benefit

 

 

(252

)

 

 

(42

)

 

 

(294

)

Share-based compensation

 

 

158

 

 

 

40

 

 

 

198

 

Other

 

 

(108

)

 

 

(14

)

 

 

(122

)

Net cash from operating activities

 

 

3,216

 

 

 

(307

)

 

 

2,909

 

Capital expenditures

 

 

(3,074

)

 

 

315

 

 

 

(2,759

)

Divestitures of property and equipment

 

 

425

 

 

 

(8

)

 

 

417

 

Net cash from investing activities

 

 

(2,517

)

 

 

307

 

 

 

(2,210

)

 

 

 

Changes to the Consolidated

 

 

 

Statement of Cash Flows

 

 

 

 

 

 

 

 

 

 

 

As Reported Under

 

For the Year Ended December 31, 2016

 

Under Full Cost

 

 

Changes

 

 

Successful Efforts

 

Net loss

 

$

(3,704

)

 

$

2,246

 

 

$

(1,458

)

Depreciation, depletion and amortization

 

 

1,792

 

 

 

304

 

 

 

2,096

 

Exploratory dry hole expense and unproved

   leasehold impairments

 

 

 

 

 

113

 

 

 

113

 

Asset impairments

 

 

4,975

 

 

 

(3,665

)

 

 

1,310

 

Gains and losses on asset sales

 

 

(1,887

)

 

 

404

 

 

 

(1,483

)

Deferred income tax expense (benefit)

 

 

(273

)

 

 

314

 

 

 

41

 

Share-based compensation

 

 

194

 

 

 

39

 

 

 

233

 

Other

 

 

303

 

 

 

(33

)

 

 

270

 

Net cash from operating activities

 

 

1,778

 

 

 

(278

)

 

 

1,500

 

Capital expenditures

 

 

(2,330

)

 

 

283

 

 

 

(2,047

)

Divestitures of property and equipment

 

 

3,118

 

 

 

(5

)

 

 

3,113

 

Net cash from investing activities

 

 

(872

)

 

 

278

 

 

 

(594

)

 

 

 

Changes to the Consolidated

 

 

 

Statement of Cash Flows

 

 

 

 

 

 

 

 

 

 

 

As Reported Under

 

For the Year Ended December 31, 2015

 

Under Full Cost

 

 

Changes

 

 

Successful Efforts

 

Net loss

 

$

(15,203

)

 

$

1,558

 

 

$

(13,645

)

Depreciation, depletion and amortization

 

 

3,129

 

 

 

893

 

 

 

4,022

 

Exploratory dry hole expense and unproved

   leasehold impairments

 

 

 

 

 

248

 

 

 

248

 

Asset impairments

 

 

20,820

 

 

 

(3,173

)

 

 

17,647

 

Gains and losses on asset sales

 

 

 

 

 

7

 

 

 

7

 

Deferred income tax benefit

 

 

(5,828

)

 

 

(148

)

 

 

(5,976

)

Share-based compensation

 

 

181

 

 

 

63

 

 

 

244

 

Other

 

 

281

 

 

 

31

 

 

 

312

 

Net cash from operating activities

 

 

5,419

 

 

 

(521

)

 

 

4,898

 

Capital expenditures

 

 

(5,308

)

 

 

521

 

 

 

(4,787

)

Net cash from investing activities

 

 

(6,324

)

 

 

521

 

 

 

(5,803

)

 

 

 

Changes to the Consolidated Balance Sheet

 

 

 

 

 

 

 

 

 

 

 

As Reported Under

 

For the Year Ended December 31, 2017

 

Under Full Cost

 

 

Changes

 

 

Successful Efforts

 

Oil and gas property and equipment, net

 

$

9,702

 

 

 

3,616

 

 

$

13,318

 

Total property and equipment, net

 

 

17,555

 

 

 

3,616

 

 

 

21,171

 

Goodwill

 

 

3,964

 

 

 

(1,581

)

 

 

2,383

 

Total assets

 

 

28,206

 

 

 

2,035

 

 

 

30,241

 

Deferred income taxes

 

 

434

 

 

 

401

 

 

 

835

 

Additional paid-in capital

 

 

7,206

 

 

 

127

 

 

 

7,333

 

Retained earnings

 

 

44

 

 

 

658

 

 

 

702

 

Accumulated other comprehensive earnings

 

 

317

 

 

 

849

 

 

 

1,166

 

Total stockholders’ equity attributable to Devon

 

 

7,620

 

 

 

1,634

 

 

 

9,254

 

Total equity

 

 

12,470

 

 

 

1,634

 

 

 

14,104

 

Total liabilities and equity

 

 

28,206

 

 

 

2,035

 

 

 

30,241

 

 

 

 

Changes to the Consolidated Balance Sheet

 

 

 

 

 

 

 

 

 

 

 

As Reported Under

 

For the Year Ended December 31, 2016

 

Under Full Cost

 

 

Changes

 

 

Successful Efforts

 

Oil and gas property and equipment, net

 

$

8,655

 

 

$

4,343

 

 

$

12,998

 

Total property and equipment, net

 

 

16,190

 

 

 

4,343

 

 

 

20,533

 

Goodwill

 

 

3,964

 

 

 

(1,581

)

 

 

2,383

 

Total assets

 

 

25,913

 

 

 

2,762

 

 

 

28,675

 

Deferred income taxes

 

 

648

 

 

 

415

 

 

 

1,063

 

Accumulated deficit

 

 

(1,646

)

 

 

1,577

 

 

 

(69

)

Accumulated other comprehensive earnings

 

 

284

 

 

 

770

 

 

 

1,054

 

Total stockholders’ equity attributable to Devon

 

 

5,927

 

 

 

2,347

 

 

 

8,274

 

Total equity

 

 

10,375

 

 

 

2,347

 

 

 

12,722

 

Total liabilities and equity

 

 

25,913

 

 

 

2,762

 

 

 

28,675