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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
REVENUES AND OTHER INCOME    
Net sales $ 8,349 $ 5,293
Interest, dividends and other income 49 75
Gains on sales of assets and equity investments, net 135 111
Total 8,533 5,479
COSTS AND OTHER DEDUCTIONS    
Oil and gas operating expense 864 776
Transportation and gathering expense 347 329
Chemical and midstream cost of sales 818 594
Purchased commodities 811 558
Selling, general and administrative expenses 196 166
Other operating and non-operating expense 299 258
Taxes other than on income 335 210
Depreciation, depletion and amortization 1,643 2,194
Asset impairments and other charges 0 135
Anadarko acquisition-related costs 65 41
Exploration expense 25 28
Interest and debt expense, net 371 395
Total 5,774 5,684
Income (loss) before income taxes and other items 2,759 (205)
OTHER ITEMS    
Gains on interest rate swaps, net 135 399
Income from equity investments 189 121
Total 324 520
Income from continuing operations before income taxes 3,083 315
Income tax benefit (expense) 1,793 (16)
Income from continuing operations 4,876 299
Loss from discontinued operations, net of tax 0 (445)
NET INCOME (LOSS) 4,876 (146)
Less: Preferred stock dividends (200) (200)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 4,676 $ (346)
PER COMMON SHARE, BASIC    
Income from continuing operations—basic (in usd per share) $ 4.96 $ 0.11
Loss from discontinued operations - basic (in usd per share) 0 (0.48)
Net income (loss) attributable to common stockholders—basic (in usd per share) 4.96 (0.37)
PER COMMON SHARE, DILUTED    
Income from continuing operations—diluted (in usd per share) 4.65 0.10
Loss from discontinued operations - diluted (in usd per share) 0 (0.46)
Net income (loss) attributable to common stockholders—diluted (in usd per share) $ 4.65 $ (0.36)