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Acquisitions, Divestitures, and Assets Held for Sale (Tables)
12 Months Ended
Dec. 31, 2017
Property, Plant and Equipment [Abstract]  
Schedule of Assets Acquired and Liabilities Assumed
The following summarizes the fair value of assets acquired and liabilities assumed at the acquisition date, which were finalized during the quarter ended June 30, 2017:
millions
 
 
Current assets
 
$
8

Properties and equipment
 
2,492

Other assets
 
145

AROs
 
(816
)
Net assets acquired
 
$
1,829

Accounts payable
 
(5
)
Other long-term liabilities
 
(109
)
Cash paid
 
$
1,715

Schedule of pro forma condensed financial information
The following summarizes the unaudited pro forma condensed financial information of the Company as if the acquisition had occurred on January 1, 2015:
millions
2016
 
2015
Revenues
$
8,849

 
$
9,786

Net income (loss)
(2,623
)
 
(6,560
)
Schedule of Proceeds Received and Gains (Losses) Recognized on Divestitures
The following summarizes the proceeds received and gains (losses) recognized on divestitures and assets held for sale for the years ended December 31:
millions
2017
 
2016
 
2015
Proceeds received, net of closing adjustments
$
4,008

 
$
2,356

 
$
1,415

Gains (losses) on divestitures, net (1) (2)
674

 
(757
)
 
(1,022
)

__________________________________________________________________
(1) 
Includes goodwill allocated to divestitures of $209 million in 2017, $397 million in 2016, and $184 million in 2015.
(2) 
Includes the $126 million gain related to the property exchange discussed above.