Asset Impairments

12 Months Ended

Dec. 31, 2017

Note 5. Asset Impairments

Pre-tax (non-cash) asset impairment charges were as follows:



	Year Ended December 31,
(millions)	2017		2016		2015
Gulf of Mexico	$	63	$	—	$	158
Israel	—		88		36
Equatorial Guinea	—		—		339
Other International	7		4		—
Total	$	70	$	92	$	533

2017 Asset Impairments During 2017, we recorded a non-cash property impairment charge related to our decision not to pursue development of the Troubadour natural gas discovery in the Gulf of Mexico.

2016 Asset Impairments While the Leviathan natural gas development project, offshore Israel, was not formally sanctioned at December 31, 2016, in fourth quarter 2016, we selected the initial development concept for the first phase of development and wrote off $88 million associated with certain development concepts that were not selected.

2015 Asset Impairments During 2015, certain properties were written down to their estimated fair values using a discounted cash flow model. The cash flow model included management’s estimates of future crude oil and natural gas production, commodity prices based on forward commodity price curves or contract prices as of the date of the estimate, operating and development costs, and discount rates. Impairment charges of $481 million resulted from reductions in the forward crude oil prices as of December 31, 2015.

We also recorded impairment charges of approximately $47 million primarily related to revisions in expected field abandonment and other costs for properties in the Gulf of Mexico and offshore Israel and $5 million related to the pending sale of our interest in the Alon A and Alon C licenses, offshore Israel, which included the Karish and Tanin fields.