ACQUISITIONS, DISPOSITIONS AND OTHER TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [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 Acquisition closing date through December 31, 2019:

millions	2019
Revenues and other income
Net sales	$	739
Costs and other deductions
Oil and gas lease operating expense	$	81
Transportation expense	14
Taxes other than on income	133
Fair value adjustment on assets held for sale	244
Other	53
Total costs and other deductions	$	525
Income before income taxes	$	214
Income tax expense	(229		)
Discontinued operations, net of tax	$	(15	)

The following table presents amounts related to the Africa Assets reported as held for sale in the Consolidated Balance Sheet as of December 31, 2019:

millions	2019
Current assets	$	289
Property, plant and equipment, net	5,481
Long-term receivables and other assets, net	256
Assets held for sale (a)	$	6,026
Current liabilities	$	452
Long-term debt, net - finance leases	185
Deferred income taxes	1,112
Asset retirement obligations	181
Other	80
Liabilities of assets held for sale (a)	$	2,010
Net assets held for sale	$	4,016

^(a)  Assets and liabilities held for sale at December 31, 2019 included South Africa assets which were sold to Total in January 2020.