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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUES AND OTHER INCOME        
Net sales $ 3,060 $ 2,531 $ 6,017 $ 4,654
Interest, dividends and other income 31 27 52 47
Gain on sale of assets, net 512   512 138
TOTAL REVENUES AND OTHER INCOME 3,603 2,558 6,581 4,839
COSTS AND OTHER DEDUCTIONS        
Cost of sales 1,486 1,244 2,912 2,525
Selling, general and administrative and other operating expenses 352 338 624 610
Taxes other than on income 77 74 145 149
Depreciation, depletion and amortization 989 1,070 1,931 2,172
Asset impairments and related items     13 78
Exploration expense 8 27 19 36
Interest and debt expense, net 86 88 167 148
TOTAL COSTS AND OTHER DEDUCTIONS 2,998 2,841 5,811 5,718
Income (loss) before income taxes and other items 605 (283) 770 (879)
Benefit (provision) for domestic and foreign income taxes (285) 96 (363) 299
Income from equity investments 187 51 217 84
Income (loss) from continuing operations 507 (136) 624 (496)
Discontinued operations, net   (3)   435
NET INCOME (LOSS) $ 507 $ (139) $ 624 $ (61)
BASIC EARNINGS PER COMMON SHARE        
Income (loss) from continuing operations (in dollars per share) $ 0.66 $ (0.18) $ 0.81 $ (0.65)
Discontinued operations, net (in dollars per share)       0.57
BASIC EARNINGS PER COMMON SHARE (in dollars per share) 0.66 (0.18) 0.81 (0.08)
DILUTED EARNINGS PER COMMON SHARE        
Income (loss) from continuing operations (in dollars per share) 0.66 (0.18) 0.81 (0.65)
Discontinued operations, net (in dollars per share)       0.57
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) 0.66 (0.18) 0.81 (0.08)
DIVIDENDS PER COMMON SHARE (in dollars per share) $ 0.76 $ 0.75 $ 1.52 $ 1.50