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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES AND OTHER INCOME        
Net sales $ 2,928 $ 4,420 $ 9,541 $ 8,424
Interest, dividends and other income 33 41 67 119
Gain on sale of assets, net 15 15 22 22
Total 2,976 4,476 9,630 8,565
COSTS AND OTHER DEDUCTIONS        
Oil and gas operating expense 631 717 1,700 1,362
Transportation and gathering expense 367 33 932 64
Chemical and midstream cost of sales 577 636 1,189 1,305
Purchased commodities 214 431 607 796
Selling, general and administrative expenses 225 163 489 303
Other operating and non-operating expense 114 260 311 498
Depreciation, depletion and amortization 2,119 1,031 4,428 2,004
Asset impairments and other charges 6,470 0 8,273 0
Taxes other than on income 68 123 293 234
Anadarko acquisition-related costs 149 50 297 50
Exploration expense 33 35 70 71
Interest and debt expense, net 310 153 662 251
Total 11,277 3,632 19,251 6,938
Income (loss) before income taxes and other items (8,301) 844 (9,621) 1,627
OTHER ITEMS        
Losses on interest rate swaps and Berkshire warrants, net (76) 0 (661) 0
Income from equity investments 193 97 60 170
Total 117 97 (601) 170
Income (loss) from continuing operations before income taxes (8,184) 941 (10,222) 1,797
Income tax benefit (expense) 1,468 (306) 1,493 (531)
Income (loss) from continuing operations (6,716) 635 (8,729) 1,266
Loss from discontinued operations, net of tax (1,415) 0 (1,415) 0
NET INCOME (LOSS) (8,131) 635 (10,144) 1,266
Less: Preferred stock dividends (222) 0 (441) 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (8,353) $ 635 $ (10,585) $ 1,266
Income (loss) from continuing operations—basic (in usd per share) $ (7.58) $ 0.84 $ (10.12) $ 1.68
Loss from discontinued operations - basic (in usd per share) (1.54) 0 (1.56) 0
Net income (loss) attributable to common stockholders—basic (in usd per share) (9.12) 0.84 (11.68) 1.68
Income (loss) from continuing operations—diluted (in usd per share) (7.58) 0.84 (10.12) 1.68
Loss from discontinued operations - diluted (in usd per share) (1.54) 0 (1.56) 0
Net income (loss) attributable to common stockholders—diluted (in usd per share) (9.12) 0.84 (11.68) 1.68
DIVIDENDS PER COMMON SHARE (in usd per share) $ 0.01 $ 0.78 $ 0.8 $ 1.56