XML 65 R41.htm IDEA: XBRL DOCUMENT v3.3.1.900
INDUSTRY SEGMENTS AND GEOGRAPHIC AREAS (Tables)
 12 Months Ended
Dec. 31, 2015
Industry Segments  
Industry segment and corporate disclosures (in millions)

Industry Segments

 

 

 

 

 

 

 

 

 

 

 

(in millions)

 

 

 

 

 

Midstream

 

Corporate

 

 

 

 

 

 

 

 

 

and

 

and

 

 

 

 

 

Oil and Gas

 

Chemical

 

Marketing

 

Eliminations

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$
8,304

(a)

$
3,945

(b)

$
891

(c)

$
(660)

 

$
12,480

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pretax operating profit (loss)

 

$
(8,060)

(d)

$
542

(e)

$
(1,194)

(f)

$
(764)

(g)

$
(9,476)

 

Income taxes

 

—

 

—

 

—

 
1,330

(h)
1,330

 

Discontinued operations, net

 

—

 

—

 

—

 
317

(i)
317

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common stock

 

$
(8,060)

 

$
542

 

$
(1,194)

 

$
883

 

$
(7,829)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in unconsolidated entities

 

$
4

 

$
550

 

$
708

 

$
5

 

$
1,267

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, plant and equipment additions, net (k)

 

$
4,485

 

$
271

 

$
611

 

$
42

 

$
5,409

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation, depletion and amortization

 

$
3,886

 

$
371

 

$
249

 

$
38

 

$
4,544

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$
23,591

 

$
3,982

 

$
10,175

 

$
5,689

 

$
43,437

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$
13,887

(a)

$
4,817

(b)

$
1,373

(c)

$
(765)

 

$
19,312

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pretax operating profit (loss)

 

$
428

(d)

$
420

(e)

$
2,578

(f)

$
(1,871)

(g)

$
1,555

 

Net income attributable to noncontrolling interest

 

—

 

—

 
(14)

 

—

 
(14)

 

Income taxes

 

—

 

—

 

—

 
(1,685)

(h)
(1,685)

 

Discontinued operations, net

 

—

 

—

 

—

 
760

(i)
760

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common stock

 

$
428

 

$
420

 

$
2,564

 

$
(2,796)

 

$
616

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in unconsolidated entities

 

$
11

 

$
202

 

$
948

 

$
10

 

$
1,171

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, plant and equipment additions, net (k)

 

$
6,589

 

$
325

 

$
2,093

 

$
103

 

$
9,110

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation, depletion and amortization

 

$
3,701

 

$
367

 

$
160

 

$
33

 

$
4,261

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$
31,072

 

$
3,917

 

$
12,283

 

$
8,987

 

$
56,259

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$
15,008

(a)

$
4,673

(b)

$
1,174

(c)

$
(685)

 

$
20,170

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pretax operating profit (loss)

 

$
6,411

(d)

$
743

(e)

$
1,523

(f)

$
(531)

(g)

$
8,146

 

Income taxes

 

—

 

—

 

—

 
(3,214)

(h)
(3,214)

 

Discontinued operations, net

 

—

 

—

 

—

 
971

(i)
971

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common stock

 

$
6,411

 

$
743

 

$
1,523

 

$
(2,774)

 

$
5,903

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in unconsolidated entities

 

$
108

 

$
34

 

$
1,307

 

$
10

 

$
1,459

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, plant and equipment additions, net (k)

 

$
5,456

 

$
435

 

$
1,437

 

$
166

 

$
7,494

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation, depletion and amortization

 

$
3,676

 

$
346

 

$
149

 

$
32

 

$
4,203

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$
46,213

 

$
3,947

 

$
14,374

 

$
4,909

 

$
69,443

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(See footnotes on next page)

 

 

 

 

 

 

 

 

 

 

 

 

Footnotes:

 

(a)

Oil sales represented approximately 90 percent, 90 percent and 91 percent of the oil and gas segment net sales for the years ended December 31, 2015, 2014 and 2013, respectively.

 

(b)

Net sales for the chemical segment comprised the following products:

 

 

 

Basic Chemicals

 

Vinyls

 

Other Chemicals

 

Year ended December 31, 2015

 

56%

 

40%

 

4%

 

Year ended December 31, 2014

 

54%

 

43%

 

3%

 

Year ended December 31, 2013

 

55%

 

42%

 

3%

 

 

(c)

Net sales for the midstream and marketing segment comprised the following:

 

 

 

Gas Processing

 

Power

 

Marketing,

Transportation and other *

 

 

 

 

 

 

 

 

 

Year ended December 31, 2015

 

70%

 

31%

 

(1)%

 

Year ended December 31, 2014

 

49%

 

31%

 

20%

 

Year ended December 31, 2013

 

54%

 

30%

 

16%

 

*  Revenue from all marketing and trading activities is reported on a net basis.

 

(d)

The 2015 amount includes pre-tax charges of $5 billion for impairment of international oil and gas assets and related items and $3.5 billion for the impairment of domestic oil and gas assets and related items. The 2014 amount includes pre-tax charges of $4.7 billion for the impairment of domestic oil and gas assets, pre-tax charges of $1.1 billion for the impairment of foreign oil and gas assets, and pre-tax gain of $531 million for the sale of the Hugoton field. The 2013 amount includes pre-tax charges of $607 million for the impairment of domestic non-producing acreage.

 

(e)

The 2015 amount includes the pre-tax charge of $121 million related to asset impairment partially offset by a $98 million gain on sale of an idled facility. The 2014 amount includes the pre-tax charge of $149 million related to asset impairment. The 2013 amount includes a pre-tax gain of $131 million for the sale of an investment in Carbocloro.

 

(f)

The 2015 amount includes pre-tax charges of $1.3 billion related asset impairments and related items. The 2014 amount includes pre-tax gains of $633 million and $1,351 million for the sales of BridgeTex Pipeline and a portion of an investment in Plains Pipeline, respectively, and other charges of $31 million. The 2013 amount includes a pre-tax gain of $1,044 million for the sale of a portion of an investment in Plains Pipeline and other items of $58 million.

 

(g)

Includes unallocated net interest expense, administration expense, environmental remediation and other pre-tax items noted in footnote (j) below.

 

(h)

Includes all foreign and domestic income taxes from continuing operations.

 

(i)

Includes discontinued operations from Ecuador and California Resources.

 

(j)

Includes the following significant items affecting earnings for the years ended December 31:

 

Benefit (Charge)  (in millions)

 

2015

 

2014

 

2013

 

 

 

 

 

 

 

 

 

CORPORATE

 

 

 

 

 

 

 

Pre-tax operating profit (loss)

 

 

 

 

 

 

 

Asset sale losses

 

$
(8)

 

$

—

 

$

—

 

Asset impairments

 
(235)

 
(1,358)

 

—

 

Severance, spin-off and other items

 
(118)

 
(61)

 
(55)

 

 

 

 

 

 

 

 

 

 

 

$
(361)

 

$
(1,419)

 

$
(55)

 

 

 

 

 

 

 

 

 

 

 

 

Income taxes

 

 

 

 

 

 

 

Tax effect of pre-tax and other adjustments *

 

$
1,903

 

$
927

 

$
(167)

 

* Amounts represent the tax effect of the pre-tax adjustments listed in this note, as well as those in footnotes (d), (e) and (f).

 

(k)

Includes capital expenditures and capitalized interest, but excludes acquisition and disposition of assets.
Net product sales for the chemical segment

 

 

 

 

Basic Chemicals

 

Vinyls

 

Other Chemicals

 

Year ended December 31, 2015

 

56%

 

40%

 

4%

 

Year ended December 31, 2014

 

54%

 

43%

 

3%

 

Year ended December 31, 2013

 

55%

 

42%

 

3%

 

 

Net sales for the midstream and marketing segment

 

 

 

 

Gas Processing

 

Power

 

Marketing,

Transportation and other *

 

 

 

 

 

 

 

 

 

Year ended December 31, 2015

 

70%

 

31%

 

(1)%

 

Year ended December 31, 2014

 

49%

 

31%

 

20%

 

Year ended December 31, 2013

 

54%

 

30%

 

16%

 

*  Revenue from all marketing and trading activities is reported on a net basis.

Significant items affecting earnings included in the Corporate segment

 

 

Benefit (Charge)  (in millions)

 

2015

 

2014

 

2013

 

 

 

 

 

 

 

 

 

CORPORATE

 

 

 

 

 

 

 

Pre-tax operating profit (loss)

 

 

 

 

 

 

 

Asset sale losses

 

$
(8)

 

$

—

 

$

—

 

Asset impairments

 
(235)

 
(1,358)

 

—

 

Severance, spin-off and other items

 
(118)

 
(61)

 
(55)

 

 

 

 

 

 

 

 

 

 

 

$
(361)

 

$
(1,419)

 

$
(55)

 

 

 

 

 

 

 

 

 

 

 

 

Income taxes

 

 

 

 

 

 

 

Tax effect of pre-tax and other adjustments *

 

$
1,903

 

$
927

 

$
(167)

 

* Amounts represent the tax effect of the pre-tax adjustments listed in this note, as well as those in footnotes (d), (e) and (f).

Net sales and property, plant and equipment, net by geographic areas

 

 

(in millions)

 

Net sales (a)

 

Property, plant and equipment, net

 

For the years ended December 31,

 

2015

 

2014

 

2013

 

2015

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$
7,479

 

$
11,943

 

$
11,724

 

$
23,265

 

$
26,673

 

$
42,956

 

Foreign

 

 

 

 

 

 

 

 

 

 

 

 

 

Oman

 
1,631

 
2,524

 
2,567

 
1,292

 
2,876

 
2,509

 

Qatar

 
1,449

 
2,803

 
2,995

 
1,354

 
2,605

 
2,605

 

Colombia

 
570

 
938

 
1,022

 
821

 
1,396

 
1,259

 

United Arab Emirates

 
477

 

—

 

—

 
4,484

 
4,312

 
3,131

 

Other Foreign

 
874

 
1,104

 
1,862

 
423

 
1,868

 
3,361

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Foreign

 
5,001

 
7,369

 
8,446

 
8,374

 
13,057

 
12,865

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$
12,480

 

$
19,312

 

$
20,170

 

$
31,639

 

$
39,730

 

$
55,821

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

Sales are shown by individual country based on the location of the entity making the sale.