Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Table Text Block [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

		Years Ended December 31,
millions		2012		2011		2010
Current
	Federal	$	45	$	(381)	$	305
	State		25		1		18
	Foreign		891		977		628
			961		597		951
Deferred
	Federal		(30)		(1,470)		(72)
	State		115		(68)		(11)
	Foreign		74		85		(48)
			159		(1,453)		(131)
Income tax expense (benefit)		$	1,120	$	(856)	$	820

Schedule of Effective Income Tax Rate Reconciliation

		Years Ended December 31,
millions except percentages		2012			2011			2010
Income (loss) before income taxes
	Domestic	$	132		$	(5,416)		$	855
	Foreign		3,433			1,992			786
Total		$	3,565		$	(3,424)		$	1,641
U.S. federal statutory tax rate			35	%		35	%		35	%
Tax computed at the U.S. federal statutory rate		$	1,248		$	(1,198)		$	574
Adjustments resulting from
	State income taxes (net of federal income tax benefit)		93			(44)			5
	Tax impact from foreign operations		178			54			89
	Algerian exceptional profits taxes		188			258			193
	Non-taxable Algeria exceptional profits tax settlement		(679)			—			—
	Net changes in uncertain tax positions		27			8			28
	Items resulting from business acquisitions		—			19			—
	Other—net		65			47			(69)
Income tax expense (benefit)		$	1,120		$	(856)		$	820
Effective tax rate			31	%		25	%		50	%

Deferred Tax Assets (Liabilities) Table

	December 31,
millions	2012		2011
Federal	$	(7,890)	$	(7,916)
State, net of federal		(325)		(252)
Foreign		(216)		(173)
Total deferred taxes	$	(8,431)	$	(8,341)

	December 31,
millions	2012		2011
Net current deferred tax assets	$	328	$	138
Oil and gas exploration and development operations		(8,683)		(8,187)
Mineral operations		(408)		(407)
Midstream and other depreciable properties		(1,295)		(1,264)
Other		(152)		(1)
Gross long-term deferred tax liabilities		(10,538)		(9,859)
Oil and gas exploration and development costs		762		127
Net operating loss carryforward		477		1,071
Foreign tax credit carryforward and alternative minimum tax credit carryforward		450		119
Other		1,012		618
Gross long-term deferred tax assets		2,701		1,935
Less valuation allowances on deferred tax assets not expected to be realized		(922)		(555)
Net long-term deferred tax assets		1,779		1,380
Net long-term deferred tax liabilities		(8,759)		(8,479)
Total deferred taxes	$	(8,431)	$	(8,341)

Valuation Allowances on Deferred Tax Assets Rollforwad

millions		2012		2011		2010
Balance at January 1		$	(555)	$	(454)	$	(418)
	Additions		(426)		(138)		(49)
	Reductions		59		37		13
Balance at December 31		$	(922)	$	(555)	$	(454)

Taxes Receivable (Payable) Table

millions		December 31,
Balance Sheet Classification		2012		2011
Income taxes receivable
	Accounts receivable—other	$	179	$	597
	Other assets		2		2
			181		599
Income taxes (payable)
	Accrued expense		(38)		(248)
Income taxes receivable (payable)		$	143	$	351

Schedule of Operating Loss, Tax Credit, And Other Carryforwards

millions	Domestic		Foreign		Expiration
Net operating loss—federal	$	809	$	—	2031
Net operating loss—foreign	$	—	$	884	2016 - Indefinite
Net operating loss—state	$	4,560	$	—	2012-2031
Alternative minimum tax credit—federal	$	17	$	—	Indefinite
Foreign tax credits	$	433	$	—	2017-2021
Texas margins tax credit	$	36	$	—	2026

Unrecognized Tax Benefits Rollforward

		Assets (Liabilities)
millions		2012		2011		2010
Balance at January 1		$	(31)	$	(32)	$	(29)
	Increases related to prior-year tax positions		(17)		—		(13)
	Decreases related to prior-year tax positions		3		3		8
	Increases related to current-year tax positions		(1)		(10)		—
	Settlements		—		8		2
Balance at December 31		$	(46)	$	(31)	$	(32)

Tax Years Subject to Examination by Major Tax Jurisdiction Table

	Tax Year
United States	2007, 2008, 2010-2012
China	2008-2012
Algeria	2009-2012
Ghana	2006-2011