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Impairments (Tables)

9 Months Ended

Sep. 30, 2012



			Three Months Ended				Nine Months Ended
			September 30,				September 30,
millions			2012		2011		2012		2011
Oil and Gas Exploration & Production
	Long-lived assets held for use
		U.S. onshore properties	$	2	$	—	$	81	$	100
		Gulf of Mexico properties		—		93		67		93
	Cost-method investment			1		87		12		91
Midstream
	Long-lived assets held for use			1		3		6		3
Total impairment expense			$	4	$	183	$	166	$	287

Nonrecurring Fair Value Measurements Table


millions
2012	Level 1		Level 2		Level 3⁽¹⁾		Total
Long-lived assets held for use	$	—	$	—	$	38	$	38
Cost-method investment		—		—		34		34

2011
Long-lived assets held for use	$	—	$	—	$	395	$	395
Cost-method investment		—		—		38		38

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(1) The income approach was used to measure fair value.

- Definition

Tabular disclosure for impairment of long-lived assets held and used by an entity which includes a description of the impaired long-lived asset and facts and circumstances leading to the impairment, aggregate amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired long-lived asset is reported.

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- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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