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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES AND OTHER INCOME        
Net sales $ 2,648 $ 3,116 $ 7,302 $ 9,674
Interest, dividends and other income 25 31 72 88
Gain on disposal of assets, net 60 99 198 94
TOTAL REVENUES AND OTHER INCOME 2,733 3,246 7,572 9,856
COSTS AND OTHER DEDUCTIONS        
Cost of sales 1,338 1,413 3,863 4,450
Selling, general and administrative and other operating expenses 316 292 926 950
Taxes other than on income 61 79 210 293
Depreciation, depletion and amortization 1,046 1,123 3,218 3,268
Asset impairments and related items 221 3,397 299 3,721
Exploration expense 9 5 45 23
Interest and debt expense, net 68 48 216 86
TOTAL COSTS AND OTHER DEDUCTIONS 3,059 6,357 8,777 12,791
Loss before income taxes and other items (326) (3,111) (1,205) (2,935)
Benefit from domestic and foreign income taxes 30 445 329 140
Income from equity investments 58 60 142 154
Loss from continuing operations (238) (2,606) (734) (2,641)
Discontinued operations, net (3) (3) 432 (10)
NET LOSS $ (241) $ (2,609) $ (302) $ (2,651)
BASIC EARNINGS PER COMMON SHARE        
Loss from continuing operations (in dollars per share) $ (0.31) $ (3.41) $ (0.96) $ (3.45)
Discontinued operations, net (in dollars per share) (0.01) (0.01) 0.56 (0.01)
BASIC EARNINGS PER COMMON SHARE (in dollars per share) (0.32) (3.42) (0.40) (3.46)
DILUTED EARNINGS PER COMMON SHARE        
Loss from continuing operations (in dollars per share) (0.31) (3.41) (0.96) (3.45)
Discontinued operations, net (in dollars per share) (0.01) (0.01) 0.56 (0.01)
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) (0.32) (3.42) (0.40) (3.46)
DIVIDENDS PER COMMON SHARE (in dollars per share) $ 0.76 $ 0.75 $ 2.26 $ 2.22