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Impairments (Tables)

3 Months Ended

Mar. 31, 2013



			Three Months Ended
			March 31,
millions			2013		2012
Oil and gas exploration and production
	Long-lived assets held for use
		Gulf of Mexico properties	$	—	$	50
Midstream
	Long-lived assets held for use			29		—
Impairments			$	29	$	50

Nonrecurring Fair Value Measurements Table


millions
2013	Level 1		Level 2		Level 3⁽¹⁾		Total
Long-lived assets held for use	$	—	$	—	$	22	$	22

2012
Long-lived assets held for use	$	—	$	—	$	37	$	37

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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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