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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUES AND OTHER INCOME        
Net sales $ 5,687 $ 5,216 $ 14,111 $ 13,062
Interest, dividends, and other income 56 34 175 101
Gain on sale of assets, net 128 926 150 969
TOTAL REVENUES AND OTHER INCOME 5,871 6,176 14,436 14,132
COSTS AND OTHER DEDUCTIONS        
Oil and gas operating expense 962 680 2,324 1,909
Transportation expense 217 41 281 121
Chemical and midstream cost of sales 741 722 2,046 2,128
Purchased commodities 441 343 1,237 456
Selling, general and administrative 242 151 545 423
Other operating expense 363 280 861 717
Taxes other than on income 198 110 432 333
Depreciation, depletion, and amortization 1,706 1,023 3,710 2,891
Asset impairments and other items 325 214 325 256
Anadarko merger-related costs 924 0 974 0
Exploration expense 63 24 134 60
Losses on interest-rate swaps and warrants, net 381 96 632 290
TOTAL COSTS AND OTHER DEDUCTIONS 6,563 3,684 13,501 9,584
Income (loss) before income taxes and other items (692) 2,492 935 4,548
OTHER ITEMS        
Gains (losses) on interest rate swaps and warrants, net (33) 0 (33) 0
Income from equity investments 104 87 274 228
OTHER INCOME (LOSS) 71 87 241 228
Income (loss) from continuing operations before income taxes (621) 2,579 1,176 4,776
Income tax expense (116) (710) (647) (1,351)
Income (loss) from continuing operations (737) 1,869 529 3,425
Discontinued operations, net of tax (15) 0 (15) 0
NET INCOME (LOSS) (752) 1,869 514 3,425
Less: Net income attributable to noncontrolling interests (42) 0 (42) 0
Less: Preferred stock dividends (118) 0 (118) 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (912) $ 1,869 $ 354 $ 3,425
Income (loss) from continuing operations—basic (in usd per share) $ (1.06) $ 2.44 $ 0.47 $ 4.46
Income (loss) from discontinued operations—basic (in usd per share) (0.02) 0 (0.02) 0
Net income (loss) attributable to common stockholders—basic (in usd per share) (1.08) 2.44 0.45 4.46
Income (loss) from continuing operations—diluted (in usd per share) (1.06) 2.44 0.47 4.45
Income (loss) from discontinued operations—diluted (in usd per share) (0.02) 0 (0.02) 0
Net income (loss) attributable to common stockholders—diluted (in usd per share) $ (1.08) $ 2.44 $ 0.45 $ 4.45