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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES AND OTHER INCOME        
Net sales $ 2,531 $ 3,469 $ 4,654 $ 6,558
Interest, dividends and other income 27 26 47 57
Gain (loss) on sale of assets, net   19 138 (5)
TOTAL REVENUES AND OTHER INCOME 2,558 3,514 4,839 6,610
COSTS AND OTHER DEDUCTIONS        
Cost of sales 1,244 1,480 2,525 3,037
Selling, general and administrative and other operating expenses 338 347 610 658
Taxes other than on income 74 107 149 214
Depreciation, depletion and amortization 1,070 1,116 2,172 2,145
Asset impairments and related items     78 324
Exploration expense 27 10 36 18
Interest and debt expense, net 88 8 148 38
TOTAL COSTS AND OTHER DEDUCTIONS 2,841 3,068 5,718 6,434
Income (loss) before income taxes and other items (283) 446 (879) 176
Benefit (provision) for domestic and foreign income taxes 96 (324) 299 (305)
Income from equity investments 51 58 84 94
Income (loss) from continuing operations (136) 180 (496) (35)
Discontinued operations, net (3) (4) 435 (7)
NET INCOME (LOSS) $ (139) $ 176 $ (61) $ (42)
BASIC EARNINGS PER COMMON SHARE        
Income (loss) from continuing operations (in dollars per share) $ (0.18) $ 0.23 $ (0.65) $ (0.04)
Discontinued operations, net (in dollars per share)     0.57 (0.01)
BASIC EARNINGS PER COMMON SHARE (in dollars per share) (0.18) 0.23 (0.08) (0.05)
DILUTED EARNINGS PER COMMON SHARE        
Income (loss) from continuing operations (in dollars per share) (0.18) 0.23 (0.65) (0.04)
Discontinued operations, net (in dollars per share)     0.57 (0.01)
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) (0.18) 0.23 (0.08) (0.05)
DIVIDENDS PER COMMON SHARE (in dollars per share) $ 0.75 $ 0.75 $ 1.50 $ 1.47