Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2014

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



	Three Months Ended September 30,						Nine Months Ended September 30,
(millions)	2014			2013			2014		2013
Production Expense
Lease Operating Expense	$	133		$	137		$	432	$	393
Production and Ad Valorem Taxes	44			51			146		137
Transportation and Gathering Expense	40			33			119		89
Total	$	217		$	221		$	697	$	619
Other Non-Operating (Income) Expense, Net
Deferred Compensation (Income) Expense ⁽¹⁾	$	(12	)	$	10		$	—	$	24
Other (Income) Expense, Net	(1		)	(1		)	1		(3		)
Total	$	(13	)	$	9		$	1	$	21


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

Balance Sheet Information Other balance sheet information is as follows:



(millions)	September 30, 2014			December 31, 2013
Accounts Receivable, Net
Commodity Sales	$	345		$	495
Joint Interest Billings	310			382
Other	101			81
Allowance for Doubtful Accounts	(16		)	(11		)
Total	$	740		$	947
Other Current Assets
Inventories, Materials and Supplies	$	95		$	96
Inventories, Crude Oil	28			25
Commodity Derivative Assets	79			1
Deferred Income Taxes, Net	5			62
Assets Held for Sale	98			292
Prepaid Expenses and Other Current Assets	56			71
Total	$	361		$	547
Other Noncurrent Assets
Equity Method Investments	$	290		$	437
Mutual Fund Investments	121			114
Commodity Derivative Assets	32			16
Other Assets	95			112
Total	$	538		$	679
Other Current Liabilities
Production and Ad Valorem Taxes	$	110		$	103
Commodity Derivative Liabilities	—			65
Income Taxes Payable	183			156
Asset Retirement Obligations	155			39
Interest Payable	56			63
Current Portion of Long Term Debt	—			200
Current Portion of Capital Lease	67			58
Liabilities Associated with Assets Held for Sale	12			111
Other	224			193
Total	$	807		$	988
Other Noncurrent Liabilities
Deferred Compensation Liabilities	$	264		$	253
Asset Retirement Obligations	543			547
Accrued Benefit Costs	108			155
Commodity Derivative Liabilities	—			10
Other	139			144
Total	$	1,054		$	1,109