Dispositions and Other Transactions (Tables)

3 Months Ended

Mar. 31, 2020

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 for the three months ended March 31, 2020:

millions
Revenues and other income
Net sales	$	332
Costs and other deductions
Oil and gas lease operating expense	$	46
Transportation expense	7
Taxes other than on income	43
Fair value adjustment on assets held for sale	139
Other	16
Total costs and other deductions	$	251
Income before income taxes	$	81
Income tax expense	(81)
Discontinued operations, net of tax	$	—

The following table presents the amounts reported in the Consolidated Condensed Balance Sheets as held for sale related to the Africa Assets as of March 31, 2020 and December 31, 2019:

millions	March 31, 2020		December 31, 2019
Current assets	$	378	$	289
Property, plant and equipment, net	5,235		5,481
Long-term receivables and other assets, net	119		256
Assets held for sale (a)	$	5,732	$	6,026
Current liabilities	$	399	$	452
Long-term debt, net - finance leases	183		185
Deferred income taxes	1,096		1,112
Asset retirement obligations	183		181
Other	30		80
Liabilities of assets held for sale (a)	$	1,891	$	2,010
Net assets held for sale	$	3,841	$	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.