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Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Sales and other operating revenues:        
Trade $ 5,371 $ 8,828 $ 12,674 $ 17,393
Related parties 175 220 366 433
Sales revenue, net 5,546 9,048 13,040 17,826
Operating costs and expenses:        
Cost of sales 4,894 7,542 11,762 14,988
Selling, general and administrative expenses 288 302 583 589
Research and development expenses 25 27 52 55
Costs and expenses 5,207 7,871 12,397 15,632
Operating income 339 1,177 643 2,194
Interest expense (125) (81) (214) (173)
Interest income 4 5 7 11
Other income, net 4 10 4 35
Income from continuing operations before equity investments and income taxes 222 1,111 440 2,067
Income from equity investments 61 64 61 128
Income from continuing operations before income taxes 283 1,175 501 2,195
Provision for (benefit from) income taxes (32) 169 43 372
Income from continuing operations 315 1,006 458 1,823
Loss from discontinued operations, net of tax (1) (3) 0 (3)
Net income 314 1,003 458 1,820
Dividends on redeemable non-controlling interests (1) (1) (3) (3)
Net income attributable to the Company shareholders $ 313 $ 1,002 $ 455 $ 1,817
Net income attributable to the Company shareholders - Basic:        
Continuing operations (in dollars per share) $ 0.94 $ 2.71 $ 1.36 $ 4.90
Discontinued operations (in dollars per share) 0 (0.01) 0 (0.01)
Basic (in dollars per share) 0.94 2.70 1.36 4.89
Net income attributable to the Company shareholders - Diluted:        
Continuing operations (in dollars per share) 0.94 2.71 1.36 4.89
Discontinued operations (in dollars per share) 0 (0.01) 0 (0.01)
Diluted (in dollars per share) $ 0.94 $ 2.70 $ 1.36 $ 4.88