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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company’s reportable business segments have been identified based on the differences in products or services provided.  Revenues for the E&P segment are derived from the production and sale of natural gas and liquids.  The Marketing segment generates revenue through the marketing of both Company and third-party produced natural gas and liquids volumes.
Summarized financial information for the Company’s reportable segments is shown in the following table.  The accounting policies of the segments are the same as those described in Note 1 of the Notes to Consolidated Financial Statements included in Item 8 of the 2020 Annual Report.  Management evaluates the performance of its segments based on operating income, defined as operating revenues less operating costs.  Income before income taxes, for the purpose of reconciling the operating income amount shown below to consolidated income before income taxes, is the sum of operating income, interest expense, gain (loss) on derivatives, gain on early extinguishment of debt and other income (loss).  The “Other” column includes items not related to the Company’s reportable segments, including real estate and corporate items. Corporate general and administrative costs, depreciation expense and taxes, other than income taxes, are allocated to the segments.
E&PMarketingOtherTotal
Three months ended March 31, 2021(in millions)
Revenues from external customers$719 $353 $— $1,072 
Intersegment revenues(14)644 — 630 
Depreciation, depletion and amortization expense94 2 — 96 
Operating income295 
(1)
6 — 301 
Interest expense (2)
31 — — 31 
Loss on derivatives(191)— — (191)
Other income, net1 — — 1 
Assets4,741 
(3)
396 110 5,247 
Capital investments (4)
266 — — 266 
Three months ended March 31, 2020
Revenues from external customers$353 $239 $— $592 
Intersegment revenues(9)309 — 300 
Depreciation, depletion and amortization expense111 2 — 113 
Impairments1,479 — — 1,479 
Operating loss(1,486)
(1)
(4)— (1,490)
Interest expense (2)
19 — — 19 
Gain on derivatives339 — — 339 
Gain on early extinguishment of debt— — 28 28 
Other income, net1 — — 1 
Benefit from income taxes (2)
406 — — 406 
Assets4,900 
(3)
214 161 5,275 
Capital investments (4)
237 — — 237 

(1)Operating income (loss) for the E&P segment includes $6 million and $10 million of restructuring charges for the three months ended March 31, 2021 and 2020, respectively. The E&P segment operating income (loss) also includes $1 million of merger-related charges for the three months ended March 31, 2021.
(2)Interest expense and provision (benefit) for income taxes by segment is an allocation of corporate amounts as they are incurred at the corporate level.
(3)E&P assets includes office, technology, water infrastructure, drilling rigs and other ancillary equipment not directly related to natural gas and oil properties. E&P assets also includes deferred tax assets which are an allocation of corporate amounts as they are incurred at the corporate level.
(4)Capital investments include increases of $38 million and $8 million for the three months ended March 31, 2021 and 2020, respectively, relating to the change in accrued expenditures between periods.
The following table presents the breakout of other assets, which represent corporate assets not allocated to segments and assets for non-reportable segments at March 31, 2021 and 2020:
As of March 31,
(in millions)20212020
Cash and cash equivalents$4 $5 
Income taxes receivable— 32 
Prepayments6 9 
Property, plant and equipment15 23 
Unamortized debt expense11 10 
Right-of-use lease assets70 77 
Non-qualified retirement plan4 5 
$110 $161