Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2014

Basis of Presentation [Abstract]

Statement of Operations Information

Statements of Operations Information   Other statements of operations information is as follows: 

	Three Months Ended March 31,
(millions)	2014		2013
Production Expense
Lease Operating Expense	$	145	$	117
Production and Ad Valorem Taxes	49		43
Transportation and Gathering Expense	38		27
Total	$	232	$	187
Other Operating (Income) Expense, Net
(Gain) Loss on Divestitures	$	1	$	(15	)
Other, Net	6		7
Total	$	7	$	(8	)
Other Non-Operating (Income) Expense, Net
Deferred Compensation Expense (1)	$	4	$	10
Other Expense, Net	1		—
Total	$	5	$	10

⁽¹⁾  Amounts represent increases in the fair value of shares of our common stock held in a rabbi trust.

Balance Sheet Information Table

Balance Sheet Information   Other balance sheet information is as follows:

(millions)	March 31, 2014			December 31, 2013
Accounts Receivable, Net
Commodity Sales	$	403		$	495
Joint Interest Billings	364			382
Other	111			81
Allowance for Doubtful Accounts	(13		)	(11		)
Total	$	865		$	947
Other Current Assets
Inventories, Materials and Supplies	$	113		$	96
Inventories, Crude Oil	24			25
Deferred Income Taxes, Net	38			62
Assets Held for Sale (1)	294			292
Prepaid Expenses and Other Current Assets	76			72
Total	$	545		$	547
Other Noncurrent Assets
Equity Method Investments	$	464		$	437
Mutual Fund Investments	116			114
Commodity Derivative Assets	11			16
Other Assets	99			112
Total	$	690		$	679
Other Current Liabilities
Production and Ad Valorem Taxes	$	101		$	103
Commodity Derivative Liabilities	95			65
Income Taxes Payable	210			156
Asset Retirement Obligations	39			39
Interest Payable	61			63
Current Portion of Long Term Debt (2)	200			200
Current Portion of Capital Lease Obligations and Other (2)	55			58
Liabilities Associated with Assets Held for Sale (1)	58			111
Other	202			193
Total	$	1,021		$	988
Other Noncurrent Liabilities
Deferred Compensation Liabilities	$	263		$	253
Asset Retirement Obligations	616			547
Accrued Benefit Costs	107			155
Other	186			154
Total	$	1,172		$	1,109

⁽¹⁾  Assets held for sale as of March 31, 2014 include oil and gas properties located onshore US, offshore Israel, and offshore China. Assets held for sale as of December 31, 2013 include oil and gas properties located onshore US, offshore China, and the North Sea. Liabilities associated with assets held for sale primarily include asset retirement obligations. See Note 3. Divestitures.

⁽²⁾ See Note 6. Debt.