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Business Segments (Tables)
 12 Months Ended
Dec. 31, 2018
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, 2018

 

 

 

 

 

 

 

 

 

 

 

Segment income (loss)

$

 242.9 

 

 51.1 

 

 269.5 

 

 (16.6)

 

 546.9 

 

Revenues from external customers

 

 1,289.6 

 

 438.6 

 

 854.2 

 

 22.2 

 

 2,604.6  2 

Interest income

 

– 

 

– 

 

– 

 

– 

 

– 

 

Interest expense, net of capitalization

 

– 

 

– 

 

– 

 

 0.2 

 

 0.2 

 

Income tax expense (benefit)

 

 68.1 

 

 14.5 

 

 143.3 

 

 (25.3)

 

 200.6 

 

Significant noncash charges (credits)

 

 

 

 

 

 

 

 

 

 

 

       Depreciation, depletion and amortization

 

 519.5 

 

 232.4 

 

 198.6 

 

 3.5 

 

 954.0 

 

       Accretion of asset retirement obligations

 

 19.5 

 

 7.7 

 

 17.4 

 

– 

 

 44.6 

 

       Amortization of undeveloped leases

 

 36.8 

 

 0.8 

 

– 

 

 2.5 

 

 40.1 

 

       Impairment of assets

 

 20.0 

 

– 

 

– 

 

– 

 

 20.0 

 

       Deferred and noncurrent income taxes

 

 68.1 

 

 16.5 

 

 (0.5)

 

 (25.7)

 

 58.4 

 

Additions to property, plant, equipment

 

 1,343.5 

 

 373.8 

 

 138.6 

 

 15.9 

 

 1,871.8 

 

Total assets at year-end

 

 6,342.9 

 

 1,711.9 

 

 1,670.2 

 

 188.1 

 

 9,913.1 

 

Year ended December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

Segment income (loss)

$

 (8.9)

 

 112.5 

 

 224.2 

 

 (37.5)

 

 290.3 

 

Revenues from external customers

 

 944.3 

 

 485.5 

 

 781.1 

 

– 

 

 2,210.9 

 

Interest income

 

– 

 

– 

 

– 

 

– 

 

– 

 

Interest expense, net of capitalization

 

– 

 

– 

 

– 

 

– 

 

– 

 

Income tax expense (benefit)

 

 (0.8)

 

 44.4 

 

 126.4 

 

 (36.2)

 

 133.8 

 

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 loss

$

 (164.2)

 

 (35.9)

 

 171.1 

 

 (54.7)

 

 (83.7)

 

Revenues from external customers

 

 749.1 

 

 365.3 

 

 753.4 

 

 0.2 

 

 1,868.0 

 

Interest income

 

– 

 

– 

 

– 

 

– 

 

– 

 

Interest expense, net of capitalization

 

– 

 

– 

 

– 

 

– 

 

– 

 

Income tax expense (benefit)

 

 (65.7)

 

 (134.3)

 

 85.9 

 

 (18.8)

 

 (132.9)

 

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 

 



 1 Includes Synthetic crude operations in 2016.  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

2018

$

 6,634.3 

 

 1,644.6 

 

 1,325.4 

 

– 

 

 153.3 

 

 9,757.6 

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 







 

 

 

 

 

 



 

 

 

 

 

 

Segment Information — Continued

 

(Millions of dollars)

Corporate
and
Other

 

Discontinued
Operations

 

Consolidated
Total

Year ended December 31, 2018

 

 

 

 

 

 

Segment income (loss)

$

 (123.9)

 

 (3.5)

 

 419.5 

Revenues from external customers

 

 (34.0)

 

– 

 

 2,570.6 

Interest income

 

 8.0 

 

– 

 

 8.0 

Interest expense, net of capitalization

 

 181.4 

 

– 

 

 181.6 

Income tax expense (benefit)

 

 (191.3)

 

– 

 

 9.3 

Significant noncash charges (credits)

 

 

 

 

 

 

       Depreciation, depletion and amortization

 

 17.9 

 

– 

 

 971.9 

       Accretion of asset retirement obligations

 

– 

 

– 

 

 44.6 

       Amortization of undeveloped leases

 

– 

 

– 

 

 40.1 

       Deferred and noncurrent income taxes

 

 (242.1)

 

– 

 

 (183.7)

Additions to property, plant, equipment

 

 22.7 

 

– 

 

 1,894.5 

Total assets at year-end

 

 1,118.5 

 

 20.9 

 

 11,052.5 

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 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 













 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

Geographic Information

Revenues from External Customers for the Year

(Millions of dollars)

United
States

 

Canada

 

Malaysia

 

Other

 

Total

2018

$

 1,297.5 

 

 438.5 

 

 854.3 

 

 (19.7)

 

 2,570.6 

2017

 

 958.3 

 

 485.7 

 

 781.1 

 

– 

 

 2,225.1 

2016

 

 692.3 

 

 365.3 

 

 753.4 

 

 0.2 

 

 1,811.2