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Business Segments (Tables)
 12 Months Ended
Dec. 31, 2017
Business Segments [Abstract]  
Segment Information



 

 

 

 

 

 

 

 

 

 

 

Segment Information

Exploration and Production

 

(Millions of dollars)

United
States

 

Canada1

 

Malaysia

 

Other

 

Total
E&P

 

Year ended December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

Segment income (loss)

$

 (2.6)

 

 112.5 

 

 224.2 

 

 (37.5)

 

 296.6 

 

Revenues from external customers

 

 953.9 

 

 485.5 

 

 781.1 

 

– 

 

 2,220.5  2 

Interest income

 

– 

 

– 

 

– 

 

– 

 

– 

 

Interest expense, net of capitalization

 

– 

 

– 

 

– 

 

– 

 

– 

 

Income tax expense (benefit)

 

 2.5 

 

 44.4 

 

 126.4 

 

 (36.2)

 

 137.1 

 

Significant noncash charges (credits)

 

 

 

 

 

 

 

 

 

 

 

       Depreciation, depletion and amortization

 

 546.1 

 

 185.4 

 

 204.6 

 

 3.8 

 

 939.9 

 

       Accretion of asset retirement obligations

 

 17.4 

 

 7.9 

 

 17.3 

 

– 

 

 42.6 

 

       Amortization of undeveloped leases

 

 60.2 

 

 1.6 

 

– 

 

– 

 

 61.8 

 

       Deferred and noncurrent income taxes

 

 2.5 

 

 55.3 

 

 (3.7)

 

 (36.2)

 

 17.9 

 

Additions to property, plant, equipment

 

 534.8 

 

 267.6 

 

 16.0 

 

 37.6 

 

 856.0 

 

Total assets at year-end

 

 5,186.2 

 

 1,725.8 

 

 1,670.1 

 

 154.2 

 

 8,736.3 

 

Year ended December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

Segment income (loss)

$

 (205.4)

 

 (35.9)

 

 171.1 

 

 (54.7)

 

 (124.9)

 

Revenues from external customers

 

 685.7 

 

 365.3 

 

 753.4 

 

 0.2 

 

 1,804.6 

 

Interest income

 

– 

 

– 

 

– 

 

– 

 

– 

 

Interest expense, net of capitalization

 

– 

 

– 

 

– 

 

– 

 

– 

 

Income tax expense (benefit)

 

 (87.9)

 

 (134.3)

 

 85.9 

 

 (18.8)

 

 (155.1)

 

Significant noncash charges (credits)

 

 

 

 

 

 

 

 

 

 

 

       Depreciation, depletion and amortization

 

 600.5 

 

 203.2 

 

 227.7 

 

 5.9 

 

 1,037.3 

 

       Accretion of asset retirement obligations

 

 17.1 

 

 13.3 

 

 16.3 

 

– 

 

 46.7 

 

       Amortization of undeveloped leases

 

 38.4 

 

 4.5 

 

– 

 

 0.5 

 

 43.4 

 

       Impairment of assets

 

– 

 

 95.1 

 

– 

 

– 

 

 95.1 

 

       Deferred and noncurrent income taxes

 

 (108.4)

 

 (175.8)

 

 (8.5)

 

 (18.3)

 

 (311.0)

 

Additions to property, plant, equipment

 

 269.8 

 

 361.3 

 

 101.4 

 

 (1.3)

 

 731.2 

 

Total assets at year-end

 

 5,419.0 

 

 1,559.5 

 

 2,024.7 

 

 115.7 

 

 9,118.9 

 

Year ended December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

Segment loss

$

 (615.7)

 

 (583.4)

 

 (653.2)

 

 (158.6)

 

 (2,010.9)

 

Revenues from external customers

 

 1,253.6 

 

 549.7 

 

 1,131.4 

 

– 

 

 2,934.7 

 

Interest income

 

– 

 

– 

 

– 

 

– 

 

– 

 

Interest expense, net of capitalization

 

– 

 

– 

 

– 

 

– 

 

– 

 

Income tax expense (benefit)

 

 (337.0)

 

 (188.8)

 

 (567.9)

 

 (17.3)

 

 (1,111.0)

 

Significant noncash charges (credits)

 

 

 

 

 

 

 

 

 

 

 

       Depreciation, depletion and amortization

 

 794.9 

 

 261.9 

 

 544.9 

 

 6.2 

 

 1,607.9 

 

       Accretion of asset retirement obligations

 

 20.2 

 

 12.6 

 

 15.9 

 

– 

 

 48.7 

 

       Amortization of undeveloped leases

 

 59.2 

 

 14.4 

 

– 

 

 1.8 

 

 75.4 

 

       Impairment of assets

 

 329.0 

 

 683.6 

 

 1,480.6 

 

– 

 

 2,493.2 

 

       Deferred and noncurrent income taxes

 

 (187.7)

 

 (146.0)

 

 (579.2)

 

 (4.6)

 

 (917.5)

 

Additions to property, plant, equipment

 

 1,263.1 

 

 184.9 

 

 244.4 

 

 39.2 

 

 1,731.6 

 

Total assets at year-end

 

 5,717.8 

 

 2,460.6 

 

 2,537.2 

 

 147.7 

 

 10,863.3 

 



 1  Includes Synthetic crude operations in 2016 and 2015.  This business was sold in June 2016.

 2  Includes a pretax gain of $129.0 million on sale of Seal area heavy oil field sold in January 2017.



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

Geographic Information

Certain Long-Lived Assets at December 31

(Millions of dollars)

United
States

 

Canada

 

Malaysia

 

United
Kingdom

 

Other

 

Total

2017

$

 5,050.5 

 

 1,635.9 

 

 1,392.3 

 

– 

 

 141.3 

 

 8,220.0 

2016

 

 5,121.6 

 

 1,451.4 

 

 1,637.0 

 

– 

 

 106.2 

 

 8,316.2 

2015

 

 5,484.7 

 

 2,310.6 

 

 1,912.0 

 

– 

 

 111.1 

 

 9,818.4 







 

 

 

 

 

 



 

 

 

 

 

 

Segment Information — Continued

 

(Millions of dollars)

Corporate
and
Other

 

Discontinued
Operations

 

Consolidated
Total

Year ended December 31, 2017

 

 

 

 

 

 

Segment income (loss)

$

 (607.5)

 

 (0.9)

 

 (311.8)

Revenues from external customers

 

 4.6 

 

– 

 

 2,225.1 

Interest income

 

 7.4 

 

– 

 

 7.4 

Interest expense, net of capitalization

 

 181.8 

 

– 

 

 181.8 

Income tax expense (benefit)

 

 245.6 

 

– 

 

 382.7 

Significant noncash charges (credits)

 

 

 

 

 

 

       Depreciation, depletion and amortization

 

 17.8 

 

– 

 

 957.7 

       Accretion of asset retirement obligations

 

– 

 

– 

 

 42.6 

       Amortization of undeveloped leases

 

– 

 

– 

 

 61.8 

       Deferred and noncurrent income taxes

 

 242.5 

 

– 

 

 260.4 

Additions to property, plant, equipment

 

 14.8 

 

– 

 

 870.8 

Total assets at year-end

 

 1,101.7 

 

 22.9 

 

 9,860.9 

Year ended December 31, 2016

 

 

 

 

 

 

Segment income (loss)

$

 (149.1)

 

 (2.0)

 

 (276.0)

Revenues from external customers

 

 6.6 

 

– 

 

 1,811.2 

Interest income

 

 2.9 

 

– 

 

 2.9 

Interest expense, net of capitalization

 

 148.2 

 

– 

 

 148.2 

Income tax expense (benefit)

 

 (64.1)

 

– 

 

 (219.2)

Significant noncash charges (credits)

 

 

 

 

 

 

       Depreciation, depletion and amortization

 

 16.8 

 

– 

 

 1,054.1 

       Accretion of asset retirement obligations

 

– 

 

– 

 

 46.7 

       Amortization of undeveloped leases

 

– 

 

– 

 

 43.4 

       Impairment of assets

 

– 

 

– 

 

 95.1 

       Deferred and noncurrent income taxes

 

 (76.8)

 

– 

 

 (387.8)

Additions to property, plant, equipment

 

 21.9 

 

– 

 

 753.1 

Total assets at year-end

 

 1,149.9 

 

 27.1 

 

 10,295.9 



 

 

 

 

 

 

Year ended December 31, 2015

 

 

 

 

 

 

Segment loss

$

 (244.9)

 

 (15.0)

 

 (2,270.8)

Revenues from external customers

 

 6.6 

 

– 

 

 2,941.3 

Interest income

 

 4.0 

 

– 

 

 4.0 

Interest expense, net of capitalization

 

 117.4 

 

– 

 

 117.4 

Income tax expense (benefit)

 

 84.5 

 

– 

 

 (1,026.5)

Significant noncash charges (credits)

 

 

 

 

 

 

       Depreciation, depletion and amortization

 

 11.9 

 

– 

 

 1,619.8 

       Accretion of asset retirement obligations

 

– 

 

– 

 

 48.7 

       Amortization of undeveloped leases

 

– 

 

– 

 

 75.4 

       Impairment of assets

 

– 

 

– 

 

 2,493.2 

       Deferred and noncurrent income taxes

 

 (60.5)

 

– 

 

 (978.0)

Additions to property, plant, equipment

 

 59.9 

 

– 

 

 1,791.5 

Total assets at year-end

 

 592.2 

 

 38.3 

 

 11,493.8 













 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

Geographic Information

Revenues from External Customers for the Year

(Millions of dollars)

United
States

 

Canada

 

Malaysia

 

Other

 

Total

2017

$

 958.3 

 

 485.7 

 

 781.1 

 

– 

 

 2,225.1 

2016

 

 692.3 

 

 365.3 

 

 753.4 

 

 0.2 

 

 1,811.2 

2015

 

 1,260.2 

 

 549.7 

 

 1,131.4 

 

– 

 

 2,941.3