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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES AND OTHER INCOME        
Net sales $ 4,083 $ 3,060 $ 7,846 $ 6,017
Interest, dividends and other income 38 31 67 52
Gain on sale of assets, net 10 512 43 512
TOTAL REVENUES AND OTHER INCOME 4,131 3,603 7,956 6,581
COSTS AND OTHER DEDUCTIONS        
Cost of sales 1,465 1,486 2,828 2,912
Selling, general and administrative and other operating expenses 402 352 709 624
Taxes other than on income 115 77 223 145
Depreciation, depletion and amortization 947 989 1,868 1,931
Asset impairments and related items 12   42 13
Exploration expense 21 8 36 19
Interest and debt expense, net 97 86 194 167
TOTAL COSTS AND OTHER DEDUCTIONS 3,059 2,998 5,900 5,811
Income before income taxes and other items 1,072 605 2,056 770
Provision for domestic and foreign income taxes (302) (285) (641) (363)
Income from equity investments 78 187 141 217
NET INCOME $ 848 $ 507 $ 1,556 $ 624
BASIC EARNINGS PER COMMON SHARE (in dollars per share) $ 1.10 $ 0.66 $ 2.02 $ 0.81
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) 1.10 0.66 2.02 0.81
DIVIDENDS PER COMMON SHARE (in dollars per share) $ 0.77 $ 0.76 $ 1.54 $ 1.52