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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
REVENUES        
Sales and other operating revenues $ 7,201,508 $ 7,146,728 [1] $ 13,849,452 $ 14,100,501 [1]
Gain (loss) on sale of assets (318) 35 [1] (278) 125 [1]
Interest and other income 16,652 10,842 [1] 8,622 13,915 [1]
Total revenues 7,217,842 7,157,605 [1] 13,857,796 14,114,541 [1]
COSTS AND EXPENSES        
Crude oil and product purchases 5,452,526 5,631,306 [1] 10,452,171 11,145,685 [1]
Operating expenses 526,142 532,374 [1] 1,125,244 1,020,859 [1]
Exploration expenses, including undeveloped lease amortization 88,772 96,724 [1] 197,265 149,651 [1]
Selling and general expenses 115,267 87,619 [1] 225,009 175,778 [1]
Depreciation, depletion and amortization 412,288 309,822 [1] 806,042 642,410 [1]
Impairment of assets 21,587 0 [1] 21,587 0 [1]
Accretion of asset retirement obligations 12,239 9,601 [1] 24,404 19,047 [1]
Interest expense 29,593 11,598 [1] 56,621 23,337 [1]
Interest capitalized (14,478) (9,476) [1] (27,866) (15,899) [1]
Total costs and expenses 6,643,936 6,669,568 [1] 12,880,477 13,160,868 [1]
Income from continuing operations before income taxes 573,906 488,037 [1] 977,319 953,673 [1]
Income tax expense 241,778 196,731 [1] 437,221 380,929 [1]
Income from continuing operations 332,128 291,306 [1] 540,098 572,744 [1]
Income from discontinued operations, net of taxes 70,516 4,131 [1] 223,145 12,764 [1]
NET INCOME $ 402,644 $ 295,437 [1] $ 763,243 $ 585,508 [1]
PER COMMON SHARE - BASIC        
Income from continuing operations $ 1.76 $ 1.50 [1] $ 2.85 $ 2.95 [1]
Income from discontinued operations $ 0.37 $ 0.02 [1] $ 1.17 $ 0.07 [1]
Net income $ 2.13 $ 1.52 [1] $ 4.02 $ 3.02 [1]
PER COMMON SHARE - DILUTED        
Income from continuing operations $ 1.75 $ 1.50 [1] $ 2.83 $ 2.94 [1]
Income from discontinued operations $ 0.37 $ 0.02 [1] $ 1.17 $ 0.07 [1]
Net income $ 2.12 $ 1.52 [1] $ 4.00 $ 3.01 [1]
Average common shares outstanding        
Basic 189,002,146 194,208,795 [1] 189,753,673 194,050,950 [1]
Diluted 189,944,793 194,846,202 [1] 190,702,248 194,820,285 [1]
[1] Reclassified to conform to current presentation.