Acquisitions, Dispositions, and Other Transactions (Tables)

9 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups and Equity Method And Joint Ventures [Abstract]

Summary of Revenues, Costs and Assets Held for Sale of Discontinued Operations

The following table presents the amounts reported in discontinued operations, net of income taxes, related to the Africa Assets subsequent to the Merger closing date through September 30, 2019:

millions	2019
REVENUES AND OTHER INCOME
Net sales	$	228
COSTS AND OTHER DEDUCTIONS
Oil and gas operating expense	$	32
Transportation and marketing expense	4
Taxes other than on income	46
Fair value adjustment on assets held for sale	65
Selling, general and administrative	8
Other	4
	$	159
Income before income taxes	$	69
Income tax expense	(84		)
Discontinued operations, net of tax	$	(15	)

The following table presents the amounts reported in the Consolidated Condensed Balance Sheets as held for sale related to the Africa Assets and other corporate property.

millions	September 30, 2019
Cash and cash equivalents	$	16
Inventories	207
Other current assets	110
Property, plant and equipment, net	5,863
Operating lease assets	29
Long-term receivables and other assets, net	220
Assets held for sale	$	6,445
Current maturities of debt - finance leases	13
Current operating lease liabilities	11
Accounts payable	217
Accrued liabilities	152
Long-term debt, net - finance leases	187
Deferred income taxes	1,281
Asset retirement obligations	142
Other	200
Liabilities of assets held for sale	$	2,203
Net assets held for sale	$	4,242