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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES AND OTHER INCOME        
Net sales $ 6,792 $ 4,108 $ 18,043 $ 13,649
Interest, dividends and other income 18 21 142 88
Gains (losses) on sales of equity investments and other assets, net 5 (846) 119 (824)
Total 6,815 3,283 18,304 12,913
COSTS AND OTHER DEDUCTIONS        
Oil and gas operating expense 829 656 2,317 2,356
Transportation and gathering expense 360 343 1,053 1,275
Chemical and midstream cost of sales 731 618 2,001 1,807
Purchased commodities 588 333 1,633 940
Selling, general and administrative expense 240 166 583 655
Other operating and non-operating expense 256 231 762 542
Taxes other than on income 289 180 743 473
Depreciation, depletion and amortization 1,916 1,915 6,481 6,343
Asset impairments and other charges 17 2,723 173 10,996
Anadarko acquisition-related costs 29 5 122 302
Exploration expense 31 29 145 99
Interest and debt expense, net 449 353 1,229 1,015
Total 5,735 7,552 17,242 26,803
Income (loss) before income taxes and other items 1,080 (4,269) 1,062 (13,890)
OTHER ITEMS        
Gains (losses) on interest rate swaps and warrants, net (26) 88 150 (573)
Income from equity investments 163 123 463 183
Total 137 211 613 (390)
Income (loss) from continuing operations before income taxes 1,217 (4,058) 1,675 (14,280)
Income tax benefit (expense) (387) 403 (446) 1,896
Income (loss) from continuing operations 830 (3,655) 1,229 (12,384)
Income (loss) from discontinued operations, net of tax (2) 80 (444) (1,335)
NET INCOME (LOSS) 828 (3,575) 785 (13,719)
Less: Preferred stock dividends (200) (203) (600) (644)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 628 $ (3,778) $ 185 $ (14,363)
PER COMMON SHARE, BASIC        
Income (loss) from continuing operations—basic (in dollars per share) $ 0.67 $ (4.16) $ 0.67 $ (14.26)
Income (loss) from discontinued operations - basic (in dollars per share) 0 0.09 (0.47) (1.46)
Net income (loss) attributable to common stockholders—basic (in dollars per share) 0.67 (4.07) 0.20 (15.72)
PER COMMON SHARE, DILUTED        
Income (loss) from continuing operations—diluted (in dollars per share) 0.65 (4.16) 0.65 (14.26)
Income (loss) from discontinued operations - diluted (in dollars per share) 0 0.09 (0.46) (1.46)
Net income (loss) attributable to common stockholders—diluted (in dollars per share) $ 0.65 $ (4.07) $ 0.19 $ (15.72)