Business Segments

6 Months Ended

Jun. 30, 2018

Note P – Business Segments

Information about business segments and geographic operations is reported in the following tables. For geographic purposes, revenues are attributed to the country in which the sale occurs. Corporate, including interest income, other gains and losses (including foreign exchange gains/losses and realized/unrealized gains/losses on crude oil contracts), interest expense and unallocated overhead, is shown in the tables to reconcile the business segments to consolidated totals. Certain reclassifications have been made to 2017 Exploration and production and Corporate External Revenues and Income (Loss) to align with current period presentation.


				Three Months Ended		Three Months Ended
	Total Assets			June 30, 2018		June 30, 2017
	at June 30,			External	Income	External	Income
(Millions of dollars)	2018			Revenues	(Loss)	Revenues	(Loss)
Exploration and production 1
United States	$	4,799.1		318.8	72.6	212.5	(9.6)
Canada		1,745.6		108.4	9.7	88.2	5.2
Malaysia		1,621.7		228.6	83.9	176.5	47.7
Other		160.0		–	(15.0)	–	7.2
Total exploration and production		8,326.4		655.8	151.2	477.2	50.5
Corporate 3		1,597.3		(37.6)	(105.3)	31.1	(67.9)
Assets/revenue/income from continuing operations		9,923.7		618.2	45.9	508.3	(17.4)
Discontinued operations, net of tax		21.7		–	(0.4)	–	(0.2)
Total	$	9,945.4		618.2	45.5	508.3	(17.6)

				Six Months Ended		Six Months Ended
				June 30, 2018		June 30, 2017
				External	Income	External	Income
(Millions of dollars)				Revenues	(Loss)	Revenues	(Loss)
Exploration and production 1
United States			$	596.9	108.7	436.7	(10.6)
Canada 2				226.7	34.3	306.1	105.8
Malaysia				439.5	154.3	373.9	106.3
Other				–	(30.5)	–	0.1
Total exploration and production				1,263.1	266.8	1,116.7	201.6
Corporate 3				(59.3)	(52.2)	68.2	(161.5)
Revenue/loss from continuing operations				1,203.8	214.6	1,184.9	40.1
Discontinued operations, net of tax				–	(0.8)	–	0.8
Total			$	1,203.8	213.8	1,184.9	40.9

1 Additional details about results of oil and gas operations are presented in the tables on pages 1 and 30.

2 Revenue for the six months ended June 30, 2017 includes a pretax gain of $132.4 million related to the sale of Seal heavy oil assets in Canada.

3 In 2018, the Company reported realized and unrealized gains and losses on crude oil contracts in the Corporate segment (previously reported in the Exploration and production business) to reflect how segments are currently evaluated, how resources are allocated and how risk is managed by the Company. The 2017 amounts have been reclassified to reflect comparable disclosure.